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Is Web3 Gaming Finally Worth Aping Into?

Token Hub | June 2023 Update
Bankless Bankless Jun 2, 20233 min read
Is Web3 Gaming Finally Worth Aping Into?

Dear Bankless Nation,

Crypto may be recovering from its bear market depths, but things are still looking grim for NFTs. Are there any contrarian opportunities worth seizing on?

This month, our analyst team dug into a number of gaming-related tokens and we're sharing these ratings (and several others) from our Token Hub below! The first full token rating is available for everyone, but the rest are exclusive for paying Bankless Citizens.

- Bankless team

Token Hub | June 2023 Update

Bankless Writer: Ben Giove

In the Bankless Token Hub, our analyst team has amassed coverage of dozens of noteworthy crypto assets, analyzing on-chain and off-chain data to assess whether we're bullish, bearish or neutral on the token's future performance.

If you dig into Token Hub, you can also see where we're placing our bets via Bankless Bags, our internal investment club that provides skin in the game for our calls by taking long positions in what we feel are the highest upside “Bullish” tokens.

Token Hub is updated throughout the month, meaning that Bankless premium subscribers get access to coverage initiations and ratings changes in real time.

Without further ado... the Token Ratings! 👇

👾 Ronin (RON)

  • Type: Coverage Initiation
  • Risk Rating: Medium
  • Sector: Gaming
  • Current FDV: $1.0B

We are initiating coverage of RON with a rating of bullish.

Catalyst Overview:

RON has been assigned a Bullish rating due to the expected growth of the Ronin ecosystem and the launch of staking.

The Ronin ecosystem began with Axie Infinity but is continuing to expand outside of it. The L1 Ronin chain recently announced that they are going to be partnering with five studios to launch games on their chain. These games span across a variety of different genres including shooters, MMOs, sports, puzzles, and MOBAs. Ronin also released RON staking in March 2023, with tokenholders now able to stake and delegate their tokens to one of the network's 22 validators.

Price Impact:

The onboarding of new partners outside of Axie has the potential to catalyze significant growth in the Ronin ecosystem by onboarding new cohorts of players. Furthermore, should one of the games become a hit, it could help strengthen Ronin’s network effect by spurring even more studios to build on the chain. RON staking should also serve as a positive tailwind for price, as it will encourage long-term oriented holders to buy and stake their tokens in order to earn yields from token emissions and trading fees.

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🎮 Treasure DAO (MAGIC)

  • Type: Ratings Reiteration
  • Risk Rating: Medium
  • Sector: Gaming
  • Current FDV: $339.6M

🔐  Access the Token Hub to view ALL ratings 🔓


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