GameFi and Layer 2 Tokens Post Losses as Other Sectors See Growth

According to a survey of GMCI indices by The Block, some common trends were confirmed. The memecoin and AI indices recorded the largest growth in 2024, while Layer 1 tokens and the top 30 crypto projects also increased significantly in value. However, two of the 12 indices in total lost value in 2024: GMCI Gaming lost about 16% of its value, and GMCI L2 fell by a whopping 30%.

The gaming index includes 12 digital assets in the gaming sector, with the largest investments being Beam, ImmutableX, and Gala, which account for nearly 60% of the index’s total value. Notably, the index does not include TON, although Telegram’s crypto games have attracted nearly a billion users, helping TON’s value increase by more than 100% in 2024.

The Layer 2 (L2) index only includes nine assets, with the three largest investments being Mantle, Polygon, and Arbitrum, accounting for more than 60% of the total index value. The price declines of POL (formerly MATIC) and ARB dragged the index down, although MNT recorded positive growth throughout 2024.

However, 2025 could mark a reversal of the L2 index’s downtrend. The Consensys-incubated Layer 2 network Linea is expected to launch its token in Q1 2025, which could bring new momentum to the sector. In addition, Unichain, a Layer 2 network developed by Uniswap, is also expected to launch its mainnet in “early 2025,” adding another chain to Optimism’s Superchain ecosystem. The GMCI 30 Index, which represents a portfolio of the top 30 digital assets, is up nearly 90% in 2024, despite falling about 5.2% over the past month. It is the third-best performing index out of 12 in 2024, behind only the memecoin and AI indices.

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