The cryptocurrency market in 2021 was dominated by non-fungible tokens (NFTs) and play-to-earn (P2E) projects. Axie Infinity (AXS) was the standout, but there were big gains for GALA Games (GALA). As the price of NFTs and cryptocurrencies have crashed, the market will look for the next big theme. Uwerx is a good option as it has a first mover advantage.
Axie Infinity (AXS) Faces Stiff Competition for a Rebound
Axie Infinity (AXS) is one of crypto’s greatest success stories, but that led to a rollercoaster plunge in the bear market. Axie Infinity started as a humble play-to-earn game where users battle each other with Axie NFTs to earn tokens and rewards. The popularity of the game soon led to a bull market surge.
As more users joined the Axie Infinity game, the price of AXS rocketed, creating a feedback loop. The price of Axie Infinity (AXS) soared to a high of $160 in the bull market with 2.6 million daily users at its peak. However, the project has plummeted with the coin at $8.46 and daily users under 100k. The project could mount a comeback but now faces competition from the likes of Splinterlands. Investors are breathing a sigh of relief as Axie Infinity’s Ronin Blockchain has revamped it’s technology and expands to new game studios after a $625 million hack.
GALA (GALA) Faces an Uphill Battle in 2023
GALA Games (GALA) is another developer of play-to-earn games, but the real battle for the project will be to repair the damage to the token price. GALA (GALA) has seen its price tumble from a high of $0.70 to a current price near $0.015. Like all P2E platforms, GALA (GALA) Games were built around non-fungible token rewards and in-game earnings. But both of those have plunged with the NFT market tumbling and the GALA (GALA) token also losing its value.
GALA (GALA) can make a stunning comeback if it can add new games with real traction then the game can power up both of its growth engines in the NFT collections and token price. GALA (GALA) specializes in builder games such as Townstar and the business-orientated Legacy, alongside the usual sci-fi battles in Spider Tanks and Echoes of Empire.
Recently, Gala Games (GALA) and Hubi (HT) have agreed to compensate the victims of a token printing scheme to the tune of $50M. This was due to a bad actor minting $1 billion worth of pGALA (a wrapped version of GALA traded on BNB Chain and proceeded to offload the tokens on decentralized exchanges including PancakeSwap, which resulted in a huge price drop for GALA of 94%). In March, the gaming network filed a lawsuit seeking 27.7 million in damages from pNetwork.
Uwerx (WERX) Can Win with Work-to-Earn
Uwerx can outperform the P2E heroes with its work-to-earn offering and a real business model. Uwerx is targeting the freelance work industry which a few companies currently dominate. Uwerx wants to disrupt the market with a blockchain model that provides benefits for workers and employees alike.
Among its competitors is Upwork, which charges hefty fees for work completed, and for transfers. PeoplePerHour is another, and they hold earnings for around two weeks before release.
It is easy to see how a digital ledger-based business from Uwerx will upset the current players as earnings can be released instantly when work is complete as third-party banks will not be needed for payment approval. Employers can be vetted via the blockchain and workers will not be able to provide false resumes or conduct other scams. It has been noted that high-ranking freelancers will earn work and subcontract it to others at lower wages. Uwerx can clean up this fast-growing industry and see its token surge in the process.
These disruptive features are the reason as to why crypto experts predict an increase of 6,000% by May 2023. Analysts are convinced that Uwerx could become a blue chip project – due to the competitive advantages it offers over traditional freelancing platforms and the novel ways it offers users to earn crypto. Uwerx has also received audit approval from InterFi Network and Solidproof – the team has guaranteed liquidity for 25 years after launch in addition to the fact that the contract ownership will be renounced before being listed on a CEX.
Such a move is unheard of in an ICO, and we heartily applaud the team’s dedication to ensuring investors feel safe. If you’re interested to find out more and enjoy the 25% on-going bonus that is being dished out to investors, head over to check out the project using the links below:
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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