Heroes of Mavia and other cryptocurrency prices have staged a strong bull run in the past few days. Bitcoin price has surged to over $50,000 for the first time in more than two years. This surge has helped to push the total market cap of all cryptocurrencies to over $1.8 trillion. This article focuses on MAVIA, one of the fastest-growing tokens in the industry.
Blockchain gaming industry growth
The blockchain gaming industry is set to grow rapidly in the next few years. Some analysts believe that the industry will have a CAGR of over 30% in the next decade, reaching over $160 billion in this period. This growth will be driven by the rising use of smartphones and consoles around the world.
The idea of using blockchain technology in the gaming industry is actually simple. Instead of the worthless tokens that people earn when playing games, they can be replaced with crypto tokens, which can then be converted into fiat currencies. This creates a win-win situation, where gamers earn money while developers see more users in their ecosystem.
The blockchain gaming industry had a great start and then it fizzled away. At its peak, some of the top games included the likes of Axie Infinity, Decentraland, and Sandbox. Games developed by Gala Games also did well at the time.
Their ecosystems and usage then dropped sharply during the crypto winter as these tokens plunged. There was also concern that most of the games were not available in mobile devices in software like iOS and Android. Most of these games were not interesting.
What is Heroes of Mavia?
Heroes of Mavia is a game that aims to change all this. It is a game that is available in the popular smartphone ecosystem and is actually fun to play. Most importantly, it is not a concept as so many gamify platforms usually are. It is an actual game that is played by thousands of people from around the world.
Heroes of Mavia’s Android game has been downloaded by more than 500k while its iOS has hundreds of positive reviews. This means that it has more room to grow in the coming years as the Clash of Clans did a few years ago.
The game is now embracing the blockchain technology, which explains why the developers launched the $MAVIA token recently. This is an important move that will see players start to earn the token as they use the ecosystem.
The developers have now embarked on a journey to find the best blockchain to use. Fortunately, there is a variety of them, including popular names like Ethereum and Solana. However, as I wrote in this article on Heroes of Mavia, I believe that Immutable X is the best blockchain to use for game developers. It has superior speeds and additional features that developers need.
MAVIA price will also continue rising as more developers list it. Some of the most notable of these developers are the likes of Binance and Kraken.
MAVIA price forecast
The 30-minute chart shows that the Heroes of Mavia price peaked at $9.56 last week and then pulled back to $6.38. It has now bounced back and moved above $8. The token is hovering near the 50-period and 25-period moving averages. However, the Percentage Price Oscillator (PPO) has formed a bearish divergence pattern, which is one of the most bearish signs. It has also formed a small double-top pattern.
Therefore, the outlook for the MAVIA token is mildly bearish in the short term as traders start to take profits. It will then bounce back as the crypto rally gains steam.
