Cryptocurrencies are reshaping the $ 172 billion gaming market

When I was 10 years old, my favorite hobby was riding my skateboard, going to the local pizzeria, and spending hours pumping coins in Donkey kong and Pac-man and other arcade games.

I would spend all the money I made mowing lawns just playing video games.

Today, money making games allow you to exchange virtual items for Ethereum. And they are reshaping the crypto narrative, as well as the $ 172 billion gaming industry.

After all, why would you play a game and invest all your time and money when you get nothing in return?

In today’s Market outlook video, Steve Fernandez and I discussed why play-to-win games will become hugely popular in the next few years.

(If you prefer to read a transcript, Click here.)


Ian King

Editor, Strategic fortunes

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Atea Pharmaceuticals Inc. (Nasdaq: AVIR) is a clinical-stage biopharmaceutical company working on an oral drug for COVID-19 infected patients. The stock is up 23% today and is back at the top of the list for the second day in a row as investors rave about a COVID-19 pill thanks to news from companies like Merck.

SunPower Corp. (Nasdaq: SPWR), the solar energy company, is up 12% this morning following the announcement that the shares will join the S&P MidCap 400 index on October 5.

Merck & Co. Inc. (NYSE: MRK), the drugmaker, is up 10% today. The company has been working on a COVID-19 pill and just released some data from an interim analysis of a phase 3 trial showing that its treatment cut the risk of hospitalization from COVID-19 in half.

TripAdvisor Inc. (Nasdaq: TRIP), the online travel booking company, is up 8% this morning along with other travel-related stocks on the feeling that travel is making a comeback after being depressed by the pandemic.

Azul SA (NYSE: AZUL) is an airline operator based in Brazil. It is also up 8% today as investors start betting on the return of travel as countries begin to ease travel restrictions.

Laureate Education Inc. (Nasdaq: LAUR) offers higher education programs and services to students through a network of international universities and higher education institutions. The stock is up 8% this morning with no particular news.

Penn National Gaming Inc. (Nasdaq: PENN) operates and manages sports betting and gaming platforms. The stock is up 7% today thanks to a rally in sports betting with the NFL season underway.

Winnebago Industries Inc. (NYSE: WGO) manufactures recreational vehicles and other leisure-related vehicles and products. Stocks are up 7% today as another way to play the return on travel, with RV sales increasing as people seek vacations safer and closer to home.

Dutch Bros Inc. (NYSE: BROS) is a drive-thru coffee chain that is up 7% this morning. It is maintaining its overall uptrend since it went public earlier this month as it expands its presence across the country and attracts more clients.

Yelp Inc. (NYSE: YELP) operates, connecting people with local businesses across the country through information and reviews. This is yet another angle in which investors are betting on the return of travel. The stock is up 7% today.

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