The Tower token, created by Animoca Brands, has increased by 214% in the last month, attracting the interest of both investors and players in the web3 space.
Rise of Tower Token and Its Impact
The Tower token has become one of the most popular among investors on the Base network, as reported by the analytics platform Nansen. Following the announcement of supporting the Tower ecosystem through token buybacks, there has been a significant price increase.
Investor Expectations for the Token
Animoca's chairman, Yat Siu, attributes the surge in interest to the reboot of Wreck League. Investors are expecting further growth in Tower's price due to the successful implementation of open-market token buybacks.
Overall Trends in Web3 Gaming and Funding
The web3 gaming sector attracted $60 million in investments in July, marking a 94% increase compared to the previous month. However, overall blockchain activity decreased, except for the gaming segment, which grew by 2%.
The rise of the Tower token and increased funding in web3 games signal a resurgence of interest in this sector, despite low prices compared to historical highs.
