The anticipation of a potential spot Bitcoin (BTC) exchange-traded fund (ETF) is not only responsible for the recent surge in Bitcoin’s price but has also rekindled a fervor for blockchain games, according to Yat Siu, the founder of Animoca Brands.
During an interview with Cointelegraph at Hong Kong Fintech Week, Yat Siu highlighted how the rise in cryptocurrency prices has revitalized investor enthusiasm in the Web3 gaming sector, leading to a noticeable surge in on-chain activities within the related space.
As cryptocurrency markets experienced a surge in value, it appears to have had a ripple effect on the blockchain gaming industry. Siu pointed out that the price hikes of various cryptocurrencies have served as a catalyst, reigniting investor confidence in Web3 gaming and igniting a new wave of on-chain activities.
An illustrative example of this phenomenon can be observed in the Axie Infinity game, where transaction activity has shown a consistent increase since reaching its yearly low point on July 2. This resurgence in blockchain gaming activity aligns with the renewed excitement surrounding the potential introduction of a spot Bitcoin ETF, illustrating the interconnected nature of the blockchain and cryptocurrency markets.
The convergence of these two trends is generating considerable interest among industry observers, and as the crypto world evolves, its impact on the broader digital landscape continues to be a topic of great significance.
