Investors have many options for choosing which type of cryptocurrency they want. Gaming coins are a relatively new type.
Gaming coins combine two very popular industries: cryptocurrency and games. Many online games use cryptocurrency as their in-game currency. The game’s crypto can be used to purchase characters and weapons. These games often have a play-to-earn model where players can earn cryptocurrency as they complete tasks.
Blockchain gaming companies raised $476 million in the first half of 2021. Gaming coins have the potential to grow rapidly as a new industry.
Invest In Crypto Gaming: Watch out for gaming coins
These are the top gaming coins you should be watching and considering as an investment.
Axie Infinity is the leader in crypto gaming. It is the largest cryptocurrency game and has grown to be one of the most popular cryptocurrencies worldwide.
Axie Infinity, inspired by Pokemon, allows players to trade, buy, and fight Axies. To play, you must buy at least three Axies .
Players playing the game can earn AXS gaming tokens. This is one reason why it is so popular. Players report that they can earn hundreds of thousands of dollars in crypto each month from playing.
Also Read: How Much Crypto Miner Make in 2022?
Axie Infinity’s stock performance is a delight for early investors. It was worth $0.54 at the start of 2021 and would eventually surpass $150. This is an increase of over 28,000%. Although gains will likely slow down, Axie Infinity, a pioneer in crypto gaming, will continue to be a top-ranked name for new investors as crypto gaming continues to grow.
The Sandbox is a platform that allows players to create 3D worlds with visual scripting tools. This means that no programming knowledge is necessary. The Sandbox’s digital real-estate, LAND, allows players to create games and store their assets.
SAND tokens power the Sandbox. These tokens can be used to make in-game purchases, such as equipment or LAND. Only a few LAND plots are available. There will be only 166,464 available, some of them selling for over $50,000.
The Sandbox has a long and diverse list of partnerships that it has already established to help grow its user base. Atari, a gaming company, works with The Sandbox to create virtual theme parks. Snoop Dogg, Deadmau5, and other celebrities have joined The Sandbox to create their virtual estates.
DappRadar reported that The Sandbox hosts more than 100,000 worlds every day. The token of this crypto game has experienced several significant price movements in 2021. These include gains of over 3,000%.
Enjin coin is a new way to invest in gaming coins. It is not tied to any particular blockchain game. Enjin coin is designed to work with many different games.
Enjin, the company behind this cryptocurrency, offers software development kits. Developers can use these kits to create digital assets such as special items or in-game currencies for their blockchain games. Players can use Enjin’s wallet to store their inventory in games connected to Enjin.
Developers must secure Enjin Coin in a smart contract when creating digital assets on Enjin. This makes sure that Enjin assets have real-world value.
Enjin Coin was launched in 2021 at $0.13, and it had risen to $4 by April. After that, the price dropped, and it hasn’t grown as fast as other major gaming coins. This cryptocurrency’s versatility could be a strength in the future.
Decentraland was built on the Ethereum ( CRYPTOETH_) blockchain. It offers plots called “LAND” that players can buy and use as they wish.
Decentraland’s freedom for players is what makes it unique. You can use LAND for art, games, activities, digital tourist, and many other purposes. Decentraland has Districts that are dedicated to specific themes. Aetheria is one example of a large District that revolves around cyberpunk.
MANA is the native token of Decentraland and can be used to make in-game transactions such as purchasing LAND. It also serves as a governance token, giving holders voting rights.
Decentraland is still building its user base. Monthly user numbers are in the hundreds. Prospective investors have to be aware that this is a double-edged sword. The platform might not be popular. However, it is possible for rapid growth if the platform does catch on.
My Neighbor Alice
My Neighbor Alice, a new blockchain game in testing, is a multiplayer farm-and-builder game. You can purchase land on six islands and farm it. Then you can sell your animals to the marketplace. The game’s lighthearted design will bring back memories of Animal Crossing.
ALICE tokens are the in-game currency. These tokens can be used to purchase items in the marketplace. Players can also earn ALICE tokens by completing quests. Holders of tokens can stake cryptocurrency to earn rewards.
My Neighbor Alice is one of the riskiest crypto games you can invest in. After their release, the value of ALICE tokens dropped significantly. It’s difficult to predict whether the game will succeed since it isn’t yet out. This is another gaming coin that may or may not be successful but could grow significantly if it does.
Illuvium, an open-world RPG that will launch in 2022, is based on Final Fantasy and Pokemon elements. The Hunters are the characters that players control. They encounter Illuvials as they travel. These Illuvials can be captured as NFTs and stored in your wallet. This is a game that players can play to earn Illuvium tokens by winning tournaments and competitions.
Although Illuvium is often compared to Axie Infinity’s, there are many major differences. Illuvium, unlike AxieInfinity, will be 3D and feature an open world. It will also have a story mode. It could be the crypto game that connects with traditional gamers if it lives up to its hype.
Illuvium has seen its market cap and price rise significantly in anticipation of the game’s launch. It is worth considering the fact that it has increased in price so significantly. It’s worth watching Illuvium for any news regarding the new product.
Yield Guild Games
NFTs are used in most of the top blockchain games. Yield Guild Games, a decentralized organization, aims to maximize investment in NFTs used for different games such as Axie Infinity or The Sandbox.
This is done by renting and selling NFTs. Owners can make money with their NFTs, while other players can rent or purchase them. Yield Guild Games could allow you to rent out your Axies, which are the creatures in Axie Infinity. In return for a portion of the game’s profits, another user could rent your Axies.
Yield Guild Games, another project, launched in July 2021. Its price rose by nearly 550% over the next month but then lost more than half of its value. Yield Guild Games is a clear use case considering NFTs’ importance to blockchain gaming. It could be a good fit if the industry continues growing.
Are you a gamer?
Gaming coins can be a risky investment, even for crypto. Many have achieved remarkable success in 2021. It is unclear if this trend will continue or if it is a temporary one. Cryptocurrency stocks can be a great alternative for those who don’t want to invest their time in gaming coins.
If crypto gaming is something that has caught your attention as an investment opportunity, the old advice to do your research is still relevant. Gaming coins are still new and don’t have a proven track record. To make informed decisions, take your time to learn about their offerings and goals.
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