When crypto is in Up Mode, it can be difficult knowing which sector to focus on. The information overload and FOMO is real. Those who’ve spent the last few weeks in the memecoin trenches trading new tokens, for example, may have missed some of the breakouts being posted by more established tokens – and it’s here that the greatest opportunity lies.
Broadly speaking, new tokens pump because they’re new. When the same occurs to established tokens, it’s usually for a more tangible reason – a project announcement, network upgrade, or new feature. So which is it with MYTH then, the native token of Mythical Games, which has been on a roll recently? Let’s examine the catalysts behind MYTH’s impressive performance.
The Making of a Myth
MYTH, or Mythos to give it its full name, is the utility token of Mythical Games, the studio and blockchain that’s been enjoying a bumper year. There are many reasons that can be cited to support this, but the greatest requires just two words: NFL Rivals. The football strategy game has been a smash hit, transcending web3 gaming and finding true product-market fit. Mythical have scored a home run – or rather a touchdown – with NFL Rivals, whose 5 million players just can’t get enough of it.
Which brings us back to MYTH and the token’s recent breakout. Demand for the utility token, which powers the Mythical Marketplace where NFL Rivals players can be traded, has been heightened by the launch of season two, which commenced on September 5. Also known as Year 2, the fresh NFL Rivals season introduces new game modes and pack drops – all of which will increase marketplace volume and demand for the MYTH token. But it’s not the only reason why MYTH has been riding high lately.
Enter the Mythical Forest
Mythical Games’ other major, albeit less tangible, success this year has been in cultivating a large and highly engaged community. Gamers who like Mythical’s output don’t just like it: they seem to love it, and this is reflected on social media. Mythical’s current campaign, incentivizing 1M gamers to enter the Mythical Forest, has gained serious traction, with the prospect of 2M MYTH up for grabs as part of an explore and earn game. The goal is to collect as many crystals as possible and climb the leaderboard, with each ranking category featuring its own gems that can be traded for MYTH.
The Mythical Forest campaign demonstrates the Mythical team’s skill at gamifying even the little things, adding just enough features, surprises, and mystery to keep players coming back for more. It helps of course that the campaign also keeps MYTH in the spotlight. Combine the excitement around NFL Rivals Year 2 and the Mythical Forest campaign and it’s easy to figure out why MYTH is riding high and to make an educated guess on how it’s likely to perform into Q4 and beyond.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
