Axie Infinity and The Sandbox Surge Amid 3% Decline in GameFi Market
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: 2d ago- Market Performance: As of January 22, the total GameFi market capitalization was approximately $9.2 billion, reflecting a 3% week-over-week decline, particularly impacting large-cap gaming tokens like Render and Immutable, which fell nearly 9% and over 7%, respectively.
- Axie Infinity Growth: Following the launch of Origins Season 16 on January 21, which introduced bAXS rewards for the first time, Axie Infinity's market cap surged nearly 120% to around $460 million, indicating a potential revival of its ecosystem.
- The Sandbox Ecosystem Expansion: The SAND token of The Sandbox rose approximately 30% week-over-week after the January 14 launch of the content curation game Corners, reaching a market cap of about $420 million, highlighting its growing appeal in the Web3 creator market.
- Future Strategy: Axie Infinity is planning broader tokenomics reforms by 2026 aimed at reducing bot activity and managing the oversupply of Axie NFTs, demonstrating its commitment to enhancing long-term value and utility for its ecosystem.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
