Cryptocurrency is the kind of digital coin that probably exists on the decentralized ledger known as the blockchain. These crypto tokens are mostly intended for processing payments, sending money around the decentralized network.
Over the past few years, people were introduced and trained to the cryptocurrency market. Well, it’s not just about Bitcoin (BTC), Ethereum (ETH), as well as gaming-based crypto tokens. As people hop in the upcoming years, there are many cryptocurrencies that are expected to bloom.
Gaming cryptocurrencies are the new type of tokens that have been becoming popular and growing.
if you’re unaware of gaming-based cryptocurrencies, stick til the end of the article. Gaming tokens are the combination of two extremely growing industries as cryptocurrency and video games. Yes, you’ve heard it right. There are several games that are using crypto tokens as their in-game currency. Generally, players utilize the game-based cryptocurrency for buying their favourite characters, weapons and more. These video games are played by thousands of gamers around the world. Apart from having lots of fun, they are earning a good income as well. All they do is complete the task and earn cryptos.
Want to know more about gaming-based cryptocurrency? Yes! Continue reading. Following are the best gaming-based cryptocurrencies to invest in.
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Axie Infinity (AXS)
It’s no surprise that Axie Infinity (AXS) has been engraved out of the top place as the key leader in the gaming-based cryptocurrency. AXS is the world’s largest cryptocurrency game inspired by POKEMON. Axie Infinity is the popular “battle game” that exists in the market. In this game, players fight their Axies. Few players will also buy and trade tokens on Axie. Players play the Axie Infinity games in real-time. In this game, every Axie (AXS) is the individual ERC-721 NTF (non-fungible token). If you want to play the Axie Infinity game, you should buy three NFTs.
The key reason Axie Infinity is becoming more popular is that real-time players can earn Axie Infinity (AXS) gaming cryptocurrencies for playing. There are few players who are earning thousands of dollars worth of tokens every money just by playing Axie Infinity. AXS token holders can also earn rewards by playing a game, staking crypto coins and participating in the governance. Few players are earning AXS through generating content as well.
The Sandbox
If you’re an online gamer, you might have heard about The Sandbox several times. The Sandbox is the popular decentralized platform available in the market. On this platform, players around the world create individual 3D games with the help of visual scripting tools. Players don’t need to write or execute programs to run these tools. On the other hand, gamers will create their own games and also store digital assets on the “LAND”. The LAND is nothing but digital real estate exclusively for The Sandbox’s players.
The Sandbox is powered by its native cryptocurrency “SAND”. In general, players will use SAND tokens during in-game transactions. It means, purchasing gaming equipment or any LAND. On the Sandbox, the LAND plots are limited; there are around 166,464 LAND plots available. Many of these LAND have sold at $50,000.
The Sandbox has a large user base. People around the world use The Sandbox for playing or buying digital plots. The Sandbox and other gaming organizations “Atari” have collaborated to create powerful virtual theme parks for their users. Several famous people, such as Snoop Dogg, Deadmau5 are already involved with this platform. They have already purchased virtual real estate on The Sandbox.
Enjin Coin
The Enjin digital coin is something different. Yes, players are investing in Enjin gaming coins in a different approach. As the platform is not linked to an individual blockchain gaming. Instead, the coin can work effectively with a wide range of games available in the crypto market. Enjin Coin is the popular Ethereum-based digital token that supports both non-fungible and fungible coins.
Enjin company has introduced Enjin Coin. The platform provides software development tools for players and developers. Most developers have already used these development kits for creating digital assets like in-game tokens, exclusive items and more. With Enjin’s wallet, players can easily store their things related to the games which are connected to Enjin’s website.
Enjin Coin was introduced in 2021 at just $0.13. But now, the value has risen to $4. Sounds amazing! Enjin Coin can be one of the best gaming-based cryptocurrencies to invest in. The platform enables gaming developers to publish NFA as in-game tokens. Simply put, Enjin is the best marketplace that allows easy selling and buying of Ethereum digital assets.
Decentraland
For all the online players out there, Decentraland is the best gaming platform for you. Decentraland is built on Ethereum’s blockchain technology. Simply put, Decentraland is the popular shared VR (virtual reality) destination. Just like other virtual reality platforms, Decentraland offers LANDs, players can buy plots and use them according to their requirements.
Decentraland is standing out from the crowd, as the platform is offering “Freedom for game players”.Sounds fantastic! Players can use their LAND according to their choice, be it game, activities, artwork and what not? Decentraland is offer also offers communities for its players.
Decentraland is powered by “MANA” native tokens. These tokens are used during in-game transactions. Players need to use MANA tokens while purchasing LAND on Decentraland.
My Neighbor Alice
Something interesting!
My Neighbor Alice is the new game that is under the testing phase. The game is a multiplayer farm as well as a builder game. On the My Neighbour Alice, players can purchase LAND and they can spread almost six islands. On this island, they can start farming or buying animals from the My Neighbor Alice marketplace. With an easy-going design, players can easily play the game without hassles.
Similar to other platforms, My Neighbor Alice has its native token i.e ALICE. The native coin is used as an in-game currency. ALICE token is mostly used while purchasing. On the other hand, online gamers can earn these ALICE coins by finishing quests. ALICE cryptocoin holders can earn rewards by staking.
Keep a note, My Neighbor Alice can be a risky investment. As the value has dropped drastically after its release. Since this game is under testing, it could be harder to predict whether the token will rise or fall.
In a nutshell
Now, the question is whether to invest in gaming-based cryptocurrencies or not. Whether you’re a newbie or pro-crypto investor, gaming-based tokens can be risky investments. There are several investors who have had immense success in both 2020 and 2021. But, whether this gaming coin will constantly trend or not is the biggest question. If you want to invest your money, investing in cryptocurrency stocks can be the best alternative.
But, if you still show interest in gaming-based cryptocurrencies, it’s advised to spend time on research. Don’t invest in new gaming-based coins, as they don’t have a track record. Have a look above at the best gaming-based cryptocurrencies in the market. Get a clear picture of what each platform is offering and take a wiser decision.
