Bitcoin Ordinals outpace Ethereum NFTs as this GameFi coin could change the industry
Crypto markets can change fast, and investors who pivot accordingly will perform best. What was once a sure-thing now looks fickle, and nowhere is this more apparent than the rise of Bitcoin ($BTC) ordinals. The top 10 cryptos to buy now look very different from 2021, and the sectors booming now will lead the bull market.
Bitcoin beta plays, GameFi projects, and memecoins are the three fastest-growth verticals, and positions in these verticals will be the stars of the 2024 bull run. Bitcoin Ordinals have outpaced Ethereum ($ETH) NFTs as one GameFi coin, Galaxy Fox ($GFOX), could change the industry.
Bitcoin ($BTC) Ordinals Outpace Ethereum NFTs
Bitcoin, once known only as a store of value and the internet’s digital gold, has become a thriving hotbed of DeFi activity. More specifically, it is a hotbed of ‘NFT’ activity. Bitcoin Ordinals differ slightly from NFTs from a technical perspective but, for all intents and purposes, are much the same thing. The Ordinals protocol allowed users to inscribe data on Satoshis (the smallest unit of $BTC). This has created a surge in on-chain activity, with users trading tokens (BRC-20s) and minting and swapping NFTs (Ordinals) on the Bitcoin blockchain.
In December 2023, Bitcoin Ordinals crushed the NFT market, outpacing even Ethereum, generating record-high sales totaling $880 million. Imagine if, in 2021, somebody said that NFT activity on Bitcoin would outpace that of Ethereum.
This is the current landscape, and when considering which crypto to buy today for long-term gains, investors must consider the potential for technological upgrades and the general ingenuity of developers. But why have Ordinals flourished?
First, there is an enormous amount of wealth on the Bitcoin chain with no avenue for speculation. Naturally, the first investment vehicles/speculative opportunities drew considerable capital. Second. Philosophically inscribing something on the Bitcoin chain that will likely exist forever is appealing to creators.
Network fees have skyrocketed, and miners have been huge beneficiaries of this new wave of activity. Will Ordinals finally solve Bitcoin’s long-term economic model?
Galaxy Fox ($GFOX) reimagining the P2E landscape
Galaxy Fox is a token enjoying two powerful narratives and one of the only tokens on the market that benefits from the growth of GameFi and memecoin fever. As a hybrid model set to launch later this year in bullish sentiment, it is certainly one of the top 10 cryptos to buy now.
Blockchain-based games will be crypto’s trojan horse, helping to onboard the subsequent million users, and GameFi projects like Galaxy Fox will be in the eye of the storm. Its addictive runner game has the same thrill as Temple Run but comes with the added Web3 bonus of earning while playing. At the end of each season, the top 20% of the leaderboard will be awarded prizes, which they can exchange for $GFOX tokens.
The protocol’s NFT collection confers in-game stat bonuses, and any player holding one of these digital collectibles will significantly upgrade their chances of winning a portion of the prize pool. These NFTs can be traded on Galaxy Fox’s secondary marketplace. Flipping NFTs and earning prize pool rewards are not the only sources of income in this galactic ecosystem, and Galaxy Fox’s staking rewards explain its breakout presale funding success.
Almost all P2E models have focused on rewarding a small percentage of players. Galaxy Fox’s Stargate module flips the script. Stargate collects tax revenue and pays this out to $GFOX stakers. This GameFi coin is changing the industry and allowing everybody to earn and unlock residual income. No wonder analysts call it a top crypto to buy now.
Closing thoughts: Adapt or die
Market conditions are changing, and investors need to roll with the times. The top 10 cryptos to buy now are starkly different than last cycle’s top performers, and the vital portfolio additions are $BTC beta plays, memecoins, and GameFi tokens.
Galaxy Fox straddles two of these narratives and is set to launch later this year in a bullish paradigm. Experts are already touting a potential 100X rally. Join the $GFOX presale today and stand on the right side of the curve this cycle.
Learn more about $GFOX here:
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