The blockchain gaming industry has taken off recently. The number of blockchain games has increased in the last year, and it’s trendy right now in 2022. During the bull market of 2021, blockchain gaming businesses raised almost $476 million in the first half of the year. So up until 2022, demand for play-to-earn cryptocurrency games will be significant.
Investors have a wide range of projects to look at, thanks to the wide variety of cryptocurrencies. In addition, gaming coins, a more recent kind, have gained popularity.
Coins for gaming combine cryptocurrency and video games’ two prevalent sectors. A cryptocurrency is often used as in-game money in many online games. Players may buy characters and weapons with the game’s cryptocurrency. These games usually have a “play to earn” structure where users may acquire cryptocurrency by completing objectives.
In 2021, blockchain games accounted for 50% of all blockchain use, and during the third quarter of the year, in-game collectibles by themselves produced $2.32 billion in revenue. Since then, development has been sporadic, but since this is a young sector, gaming currencies may still have enormous potential.
Here are the best GameFi Coins you should keep in mind for 2022
Through the Decentraland DAO, a decentralized autonomous organization, its users manage Decentraland. The native tokens of the metaverse are MANA and LAND.
The money of Decentraland is called MANA, and there is a finite amount of it. It may be bought, sold, and traded on cryptocurrency exchanges like Binance and Huobi Global, as well as “stacked” on DEXs like Uniswap and Sushiswap since it is an ERC-20 token (fungible token). Furthermore, avatars, LAND, accessories, collectibles, games, and other items in the metaverse may all be purchased with it.
Meanwhile, you may wrap your MANA by locking it into a WMANA contract. This MANA will be packaged and “locked,” which means it can’t be used or given away.
The land is a “non-fungible, transferrable, scarce digital asset held in an Ethereum smart contract,” according to the metaverse. 90,601 LAND pieces of 16 x 16 meters each makeup Decentraland. Each parcel is an NFT that its coordinates may recognize in a virtual environment. It also contains details on the owner. An Estate also consists of two or more contiguous lots.
- Current Price: $0.69
- Market Cap: $1.3 Billion
- Circulating Supply: 1.9 Billion MANA
- Popularity: #28
- All-Time High: $5.90
2. Axie Infinity
Players can purchase, exchange, and engage in combat with Axies in Axie Infinity, a game inspired by Pokémon. Buying these non-fungible tokens (NFTs), or Axies, is the first step toward playing the game.
In 2021, this game became extremely popular thanks to the possibility of earning AXS gaming tokens by playing it. There are some gamers who claim to earn hundreds or thousands of dollars every month from cryptocurrency.
Initial investors in Axie Infinity were indeed pleased by the company’s stock performance. The price was roughly $0.54 at the beginning of 2021; later, it would reach $150, which is a more than 288,000% increase.
Since then, Axie Infinity’s value has decreased significantly, and its player count has declined. As a result, Axie Infinity retains the majority of its active monthly users because more than 75% of them play it regularly.
- Current Price: $12.47
- Market Cap: $1.07 Billion
- Circulating Supply: 83.1 Million AXS
- Popularity: #37
- All-Time High: $165.37
3. Enjin Coin
Enjin Coin is another option for buying gaming coins. There is no specific blockchain game associated with it. With Enjin Coin, you can play a wide range of games across a variety of platforms.
Enjin provides software development tools, which are the basis for this coin. Developers can use these kits to create in-game currency or unique goods for their blockchain games. Additionally, players can keep their inventory using the wallet for games associated with Enjin.
Developers are required to lock Enjin Coin within a smart contract in order to guarantee the real-world value of the digital assets they create on Enjin.
From $0.13 in January to $4.85 in November, Enjin Coin accumulated more than 1,800% profits, ending the year at $2.58. This cryptocurrency’s adaptability may be a key to its future success, although no one should expect it to replicate that performance.
- Current Price: $0.45
- Market Cap: $447.5 Million
- Circulating Supply: 1.0 Billion ENJ
- Popularity: #46
- All-Time High: $4.85
4. The Sandbox
No coding skills are necessary since The Sandbox is a decentralized platform that allows users to build their own 3D gaming environments using visual scripting tools. On LAND, the virtual real estate of The Sandbox, users create games and store content.
The Sandbox is run on SAND tokens. Players use these tokens for in-game transactions, including purchasing land and equipment. Unfortunately, only 166,464 LAND parcels will be available; they are scarce.
The Sandbox now has a lengthy and diverse list of collaborations that might aid in increasing its user base. For example, it collaborates with the video game business Atari to construct virtual theme parks. Snoop Dogg and Deadmau5 are just two famous people who have joined The Sandbox and created their own virtual homes.
- Current Price: $0.82
- Market Cap: $1.2 Billion
- Circulating Supply: 1.5 Billion SAND
- Popularity: #34
- All-Time High: $8.44
5. Apecoin (APE)
ApeCoin (APE) is the ERC-20 governance and utility token for the APE ecosystem. It enables ApeCoin owners to join the ApeCoin DAO and participate in decision-making. In the world of cryptocurrencies, a Decentralized Autonomous Organization (DAO) is comparable to a venture capital fund of investors and crypto enthusiasts. However, it differs from a traditional venture fund in that user autonomy, and the centralized control of power and authority are protected by computer codes or smart contracts.
Without a centralized authority, ApeCoin enables users to trade with one another using ApeCoin tokens.
The ApeCoin ecosystem elements, including particular goods, games, services, events, etc., are also accessible with ApeCoin tokens. Additionally, ApeCoin encourages third-party developers to join the Ape ecosystem by integrating APE tokens into their software, including games, applications, services, and more.
- Current Price: $5.10
- Market Cap: $1.6 Billion
- Circulating Supply: 306.9 APE
- Popularity: #29
- All-Time High: $27.51
Should you buy a gaming coin?
Cryptocurrencies, including gaming coins, are risky investments. The blockchain gaming industry as a whole dropped after 2021, with many well-known projects losing 80% or more from their prior highs, even though some had fantastic successes in 2021.
It is, therefore, quite uncertain how gaming currency will develop in the future. Virtual worlds and games based on blockchains have a lot of promise, but they still have a long way to go before they can rival video games. In addition, even if blockchain gaming succeeds, there is no way to predict which existing games will continue to exist.
Investing in cryptocurrency stocks is an excellent option if you’re worried about the risks associated with gaming coins or want to spend less time on them. Another option is to go with market giants like Bitcoin and Ethereum, which tend to be safer than smaller cryptocurrencies (although they’re still volatile and dangerous).
When it comes to exploring crypto gaming as an investment option, the conventional advice to do research has never been more crucial. In spite of the fact that gaming currencies are relatively new, they must have a proven track record. It is important to take the time to examine their services and their objectives in order to make an educated choice.
Faster transactions, safe prize distribution, and quick access to in-game products are all features of crypto gaming money. LBLOCK, MANA, and SAND are a few of the top gaming cryptocurrencies that may fulfill this demand.
Since their inception, these crypto assets have seen significant price changes in the cryptocurrency market. With tremendous momentum in its presale phase and being near to listing on substantial exchanges, Tamadoge is a new project that may likewise provide returns of that magnitude.
Most of these digital assets are available for purchase by investors on eToro, a safe and inexpensive platform. In addition, the program offers investors a fantastic chance to make money by utilizing the Copy Trader option. A minimal minimum deposit allows investors to purchase cryptocurrency at affordable costs.