This Week in Crypto Games
Biggest News
Gaming tokens bomb out: Crypto assets large and small have made wild swings in recent weeks amid President Trump’s ever-shifting trade war, but gaming tokens have been hit harder than most. And if you take a look at CoinGecko’s list of the top 100 coins by market cap, gaming tokens are nowhere to be found.
Immutable (IMX) was the last holdout, but it fell from the rankings last Monday, only briefly returning around midweek. About a year ago, there were six gaming tokens on the list, including The Sandbox (SAND) and Gala Games (GALA), but no more. All of the long-running gaming majors are down substantially, while last year’s biggest new gaming tokens have all cratered since.
We took a comprehensive look at the issues plaguing the crypto gaming space of late and how broader crypto trends are impacting the value of gaming tokens, with industry experts sharing their thoughts about the current state of play.
Eve Frontier trial: Eve Frontier, an Ethereum-based MMO space survival game, kicked off a 10-day free trial period on April 11, allowing players to explore its universe without the perks of paid Founders Access passes. The trial—which ends on April 21—coincides with the game’s third phase, typically a period for implementing new features.
CCP Games, which raised $40 million in 2023 to expand its Eve Online universe via blockchain, launched closed alpha access for Eve Frontier in December with Founders Access passes priced between $30-$90. The company recently hired a former Central Bank of Iceland economist to develop its player-driven financial system.
Built on Redstone, an Ethereum layer-2 network, Eve Frontier will support multiple tokens, including an eventual EVE utility token. The game follows Eve Online, a hardcore MMORPG released in 2003 that continues to thrive with dedicated player corporations and extensive community lore.
Immutable is merging networks: Ethereum gaming platform Immutable announced plans to merge its original Immutable X network into its newer Immutable zkEVM layer-2 blockchain in late 2025. This consolidation aims to unify its gaming ecosystem following substantial growth for the zkEVM network, which has processed nearly 150 million transactions since early 2024.
For users, the transition will be largely automatic, with assets being transferred to existing wallets, though there will be an opt-out option available. However, game developers face more significant adjustments, including deprecated APIs requiring reimplementation of certain mechanics and changes to collection addresses.
Guild of Guardians has already completed this migration, pioneering the upgrade for other notable games on the platform like Gods Unchained and Illuvium.
ICYMI
- Ethereum game Aavegotchi is jumping from Polygon to Base following a community vote, and will shutter its layer-3 Geist network.
- A Fortnite-themed Solana meme coin briefly pumped in value after Epic Games CEO Tim Sweeney labeled it a "scam" on X.
Conclusion
The crypto gaming space has had a tumultuous few weeks, with gaming tokens taking a significant hit. However, the industry is not without its bright spots, with the likes of Immutable and Eve Frontier pushing forward with innovative projects. As the space continues to evolve, we’ll be keeping a close eye on the developments and bringing you the latest updates in our regular This Week in Crypto Games series.
FAQs
Q: What is causing the decline in gaming tokens?
A: A combination of factors, including broader crypto market trends, regulatory uncertainty, and the ever-changing trade war landscape.
Q: What is Immutable’s plan for merging its networks?
A: The company will be consolidating its original Immutable X network into its newer Immutable zkEVM layer-2 blockchain in late 2025, aiming to unify its gaming ecosystem.
Q: How will the transition affect users and game developers?
A: For users, the transition will be largely automatic, with assets being transferred to existing wallets, though there will be an opt-out option available. For game developers, there will be more significant adjustments, including deprecated APIs requiring reimplementation of certain mechanics and changes to collection addresses.
Q: What is the current state of the crypto gaming space?
A: The space has been hit harder than most by recent market trends, with many gaming tokens taking a significant hit. However, there are still opportunities for growth and innovation, as seen with projects like Immutable and Eve Frontier.
