Web3-based fighting game Blockchain Brawlers (BRWL) reached an all-time high of $0.02101 in the early hours of January 11, which is a 231.96 percent surge from $0.004461 on January 8, according to CoinMarketCap.
At the time of writing, BRWL has attained a market cap of $16,069,621, marking a 127.86 percent increase, along with a $25,765,896 trading volume, a remarkable 728.57 percent growth in the past 24 hours. These developments led market observer InvestorsObserver to classify BRWL as bullish based on the currency’s five-day performance.
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After surpassing the $0.03215 mark on May 31, 2022, BRWL did not exceed that value between May 2022 and January 2024. While eventually reaching $0.02101 this month, the figure is considerably lower than its initial launch in early 2022.
On January 11, BRWL maintained a relatively stable performance, dipping slightly below $0.014. Before the January 2024 spike, the currency had notable spikes of $0.005427 and $0.006841 in late February and early October 2023, respectively.
As for other gaming tokens, Immutable (IMX) is currently the topmost gaming coin with a 13.98 percent increase and $2.19 price over the past 24 hours. Render (RNDR) followed IMX with a $4.17 price and a 5.88 percent decrease over the past seven days.
Web3 gaming industry growth
BRWL is regaining prominence as the Web3-based blockchain gaming industry continues to garner traction among game developers and hardcore gamers in 2023.
In December 2023, the Blockchain Gaming Alliance (BGA) released a report highlighting the optimistic growth and prospects of the blockchain-based gaming industry. Key takeaways from the report include a significant 79.7 percent expressing the desire to continue working in the industry in 2024.
Furthermore, 44.3 percent reported earning crypto or stable coins as payments in 2023. However, the report highlighted a gender disparity, with only 16.9 percent of female gamers participating in the industry, compared to the 81.7 percent participation of male gamers in 2023.
Despite the growing interest in Web3-based gaming, several challenges hinder gamers from fully engaging in the industry due to a lack of comprehension of blockchain technology.
As per the report, challenges preventing gamer participation include onboarding difficulties (55 percent), combating the perception of blockchain as a scamming platform (70 percent) and the complexity of calculating actual user acquisitions (35.4 percent).
Even so, the Web3-based gaming industry holds the potential to attract millions of new users to experience a gaming environment where individuals have full digital ownership of their gaming assets, according to BGA president Sebastien Borget.
Wrestling-themed Web3 card game
Blockchain Brawlers, the latest addition to Web3-based games, is a cross-platform, wrestling-themed online multiplayer card game developed by leading Web3-based game developer Tyranno Studio.
The game is available for free in the Epic Game Store (EGS), inviting millions of active players in EGS to engage in player-versus-player (PvP) card battles. According to the game’s EGS store page, players can collect a vast collection of unique Brawlers with distinct skills and personalities.
Unlike the usual online card games, Blockchain Brawlers allows players to craft, use, sell, trade or gift items to other players in a blockchain-based game economy. Notably, exchanging Brawlers is restricted within the game.
The mind behind Blockchain Brawlers is the former Magic: The Gathering creator, Richard Garfield, who said the game’s Web3-based features will accelerate the paradigm shift in gaming via blockchain-powered fairness, inclusivity and player-centric approach.
With the game’s launch, developers will find new opportunities to build successful Web3 games where gamers are full-fledged participants of “living and breathing” game economies and avoid exploitative microtransactions, said Garfield.
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