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AltDex, a crypto index platform that provides benchmark indices and market data, has launched a cryptocurrency index of tokens related to gaming. The news was announced in a blog post by AltDex.
The gaming industry used to be a small niche industry back in the 70’s and 80’s. However, it has gradually evolved into a robust sector of the global economy. Games released by big publishers have been known to surpass the developed cost of the game by a factor of two within just 24 hours of the release. Making hundreds of millions of dollars in profits in mere hours, the gaming industry is turning into one of the most lucrative sectors of the entertainment industry.
Therefore, any crypto or blockchain related development in this vibrant and growing industry is a good thing. The adoption of blockchain in the gaming industry is seen as one of the most beneficial prospects for the blockchain industry. The launch of this cryptocurrency index for gaming-related tokens by AltDex is a major development.
“AltDex Gaming Index” is designed to track cryptocurrencies and tokens of blockchain-based projects related to video games. Currently, the index is applied to the following thirteen gaming-related digital coins.
- Theta Token (THETA)
- Enjin Coin (ENJ)
- WAX (WAX)
- Decentraland (MANA)
- Kin (KIN)
- Loom Network (LOOM)
- MobileGO (MGO)
- DMarket (DMT)
- Refereum (RFR)
- GameCredits (GAME)
- Unikoin Gold (UKG)
- Plair (PLA)
- BitGuild (PLAT)
The blog post by AltDex discusses how blockchain technology is fairing in the gaming industry, stating that many blockchain projects have started to gain the attention of industry leaders.
From AltDex’s post:
“We’ve been tracking the rapidly growing cryptocurrency category that focuses on blockchain gaming. In recent months, many of these coins have started to gain mainstream attention. Names like Enjin Coin (ENJ) have become household names in the crypto space thanks to Samsung partnering with the project.”
Towards the end, AltDex recognized the fact that there are multiple cryptocurrencies and tokens that are actively being used in games but they have not been included in their indices. To provide an explanation for their decision to choose the 13 aforementioned cryptocurrencies, AltDex provided a disclaimer stating the following:
“We have elected to not include major smart contract platforms like Ethereum, TRON, EOS, et. al. as these would drastically impact the weighting of the index in a way that doesn’t necessarily represent blockchain gaming. While these blockchains, and others, can be and are used for gaming applications, it is not the main focus of said projects.”
This project by AltDex follows a series of incidents where big blockchain-powered companies and cryptocurrencies have made moves to establish their presence in the video games market. The most notable ones are Ripple and TRON which established a $100 million foundation each (!) for gaming funds.