The Best Gaming Crypto To Invest In Now

Crypto gaming tokens are digital assets designed for use in gaming. They are created as a currency within gaming platforms and can be used to purchase in-game items, exchange with other players, or even earn real-world money. These tokens are usually built on blockchain technology, which provides a secure and transparent way of tracking transactions and ensures the scarcity and ownership of these digital assets.

The crypto gaming industry is growing fast as blockchain technology evolves to provide enough throughput and computational power to run more immersive experiences and virtual worlds. Gaming coins combine two extremely popular industries: crypto and video games. Many are online games that use a cryptocurrency as the in-game currency. Players can use the game's crypto to purchase characters and weapons. These games also often use a play-to-earn model, where players can earn crypto as they complete tasks.

Some of the best gaming crypto coins include:

- Axie Infinity (AXS)

- The Sandbox (SAND)

- Decentraland (MANA)

- Enjin (ENJ)

- Bitcoin Dogs ($0DOG)

- Memeinator (MMTR)

- UFO Gaming ($UFO)

Play-to-earn vs. pay-to-play

The rise of blockchain technology and cryptocurrencies has led to the emergence of play-to-earn crypto games, which have gained significant traction among gamers worldwide. These games allow players to earn real-world value through their gameplay, marking a shift from traditional video games limited to in-game rewards.

Play-to-earn (P2E) games offer tangible rewards in the form of cryptocurrencies and non-fungible tokens (NFTs), which can be traded, sold, or exchanged for fiat currency. This concept, borrowed from the world of decentralised finance (DeFi), has revolutionised the gaming industry by creating a new genre of games that combine entertainment with financial incentives.

In P2E games, players can take ownership of in-game items, which are tracked on decentralised blockchain networks. These items are tokenised as NFTs and stored on a blockchain, enabling players to sell, trade, or exchange them on various marketplaces. The in-game items can include characters, items, and in-game currencies, with each item possessing a unique digital identity.

The gameplay in P2E games varies, but the principle remains the same: players are incentivised to progress and achieve specific milestones by earning financial rewards. These rewards are often in the form of cryptocurrencies, which can be staked, traded, or sold for profit. The earning potential is directly linked to the player's skill, dedication, and participation.

While P2E games have faced criticism for their potentially high entry costs and repetitive gameplay, a new model, Play and Earn, is emerging. Play and Earn games focus more on delivering a high-quality gaming experience, with earnings acting as a bonus. This model aims to boost the adoption of blockchain gaming by lowering the barrier to entry and providing improved graphics, gameplay, and storylines.

The future of play-to-earn crypto games looks bright, with the trend expected to continue as blockchain technology becomes more mainstream and cryptocurrencies gain wider adoption. The integration of blockchain provides players with a sense of ownership and control over their in-game assets, creating a bridge between the virtual and real worlds.

The best gaming cryptos to invest in

The crypto gaming industry is growing fast, with blockchain technology evolving to provide the computational power to run more immersive experiences and virtual worlds. Gaming coins combine two extremely popular industries: crypto and video games. Many are online games that use a cryptocurrency as in-game currency, allowing players to purchase characters and weapons. These games also often use a play-to-earn model, where players can earn crypto as they complete tasks.

Decentraland (CRYPTO:MANA)

Decentraland is a virtual world where players can own land that they use for games, art, activities, and more. It is built on the Ethereum blockchain and uses Non-Fungible Tokens (NFTs) to represent ownership of virtual land, assets, and other in-game items. It is one of the most well-known gaming platforms and has a first-mover advantage.

Axie Infinity (CRYPTO:AXS)

Axie Infinity is a blockchain-based game that allows players to collect, breed, and battle creatures called "Axies." It is an NFT-based game where players can earn AXS gaming tokens for playing. It was worth about $0.54 at the beginning of 2021 and later surpassed $150, an increase of more than 28,000%.

The Sandbox (CRYPTO:SAND)

The Sandbox is a decentralised platform where players create their own 3D game worlds using visual scripting tools. Players make games and store assets on LAND, The Sandbox's digital real estate. The SAND token is used for in-game transactions, such as buying equipment and LAND. The Sandbox has amassed a large and varied list of partnerships, including with Atari, Snoop Dogg, and Deadmau5.

Enjin Coin (CRYPTO:ENJ)

Enjin Coin is a cryptocurrency used to create and store digital assets from blockchain games. It is not tied to one specific blockchain game but is made to work with a variety of different games. Enjin offers software development kits that developers can use to create in-game currencies or special items. Players can use Enjin's wallet to store their inventory for games connected to its platform.

Illuvium (CRYPTO:ILV)

Illuvium is an open-world role-playing game where players hunt for creatures and battle in competitions. It is built on the Ethereum blockchain, and players can collect Illuvials, which are represented as NFTs and can be purchased with ILV tokens.

Yield Guild Games (CRYPTO:YGG)

Yield Guild Games is a decentralised organisation that aims to maximise the value of investing in NFTs used in different games, including Axie Infinity and The Sandbox. It does this by selling and renting NFTs, allowing owners to make money from their NFTs and letting other players purchase or rent them.

How to find the best gaming crypto coins

With the growth of the blockchain gaming sector, GameFi digital assets have the potential for high long-term growth. Here are some steps to help you find the best gaming crypto coins to invest in:

• Look for popular crypto games: Use reliable sources such as crypto news websites, forums, and social media platforms to gather information about gaming cryptocurrencies. Watch for announcements, partnerships, and developments within popular gaming crypto projects. Consider factors like the team behind the project, its technology, whitepaper, community engagement, and roadmap.
• Research the crypto presales and tokenomics: Buying gaming crypto during the presale can lead to massive returns if you get in early and the project is successful. Check the market capitalization and trading volume of different gaming cryptocurrencies. Analyze the tokenomics of the gaming crypto coins you're interested in. Understand token distribution, inflation rate, and any token burns or staking mechanisms.
• Diversify your investment portfolio: Spread your investment across different gaming cryptocurrencies to reduce risk. Each coin has its own performance, so diversifying can help dilute potential losses. By not putting all your funds into a single currency, you can lessen the impact if one of the coins decreases in value.
• Stay updated with the latest news: Market conditions can change rapidly, so staying informed is crucial. Keep yourself updated with the latest news and developments in the gaming cryptocurrency market.
• Start with a small investment: If you're new to investing in gaming crypto, start with a small investment and gradually increase your exposure as you gain more confidence and experience in the market.
• Decentraland (CRYPTO:MANA): A virtual world where players can own land and use it for games, art, activities, and more.
• Axie Infinity (CRYPTO:AXS): An NFT-based game where players collect, trade, and battle creatures.
• The Sandbox (CRYPTO:SAND): A platform that players can use to create 3D worlds and games.
• Enjin Coin (CRYPTO:ENJ): Software used to create and store digital assets from blockchain games.
• My Neighbor Alice (CRYPTO:ALICE): A builder game with plots of land where players can create their own farms.
• Illuvium (CRYPTO:ILV): An open-world role-playing game where players hunt for creatures and battle in competitions.
• Yield Guild Games (CRYPTO:YGG): A platform for selling and renting NFTs used in major blockchain games.

Are gaming crypto coins a good investment?

The popularity of gaming coins, a new type of cryptocurrency, is rising. These coins combine two extremely popular industries: crypto and video games. Many online games use a cryptocurrency as their in-game currency, which players can use to purchase characters and weapons. These games also often use a play-to-earn model, where players can earn crypto as they complete tasks.

Blockchain games were responsible for half of all blockchain usage in 2021, and in-game collectibles alone generated $2.32 billion in sales during the third quarter of that year. The progress has been inconsistent since then, but this is a new industry, so gaming coins could still have serious potential.

Some of the best gaming coins to watch and consider as an investment include:

• Decentraland (CRYPTO:MANA): A virtual world where players can own land that they use for games, art, activities, and more.
• Axie Infinity (CRYPTO:AXS): An NFT-based game where players collect, trade, and battle creatures.
• The Sandbox (CRYPTO:SAND): A platform that players can use to create 3D worlds and games.
• Enjin Coin (CRYPTO:ENJ): Software used to create and store digital assets from blockchain games.
• My Neighbor Alice (CRYPTO:ALICE): A builder game with plots of land where players can create their own farms.
• Illuvium (CRYPTO:ILV): An open-world role-playing game where players hunt for creatures and battle in competitions.
• Yield Guild Games (CRYPTO:YGG): A platform for selling and renting NFTs used in major blockchain games.

However, it is important to note that even for crypto, gaming coins are a risky investment. The blockchain gaming market is still in its early stages and faces an uncertain future. While it's easy to see the potential of virtual worlds and games built on blockchain technology, they have a long way to go to catch up to the traditional video game industry. Therefore, if you are concerned about the risk, cryptocurrency stocks may be a better alternative.

The difference between gaming cryptos and gaming tokens

The world of blockchain gaming, or Web3 gaming, is an emerging industry that has been embraced by both traditional gamers and investors. It has opened up new avenues for casual and competitive gaming, combining two extremely popular industries: crypto and video games.

Gaming Tokens

Gaming tokens are digital coins used within games, which can be traded or redeemed for actual ownership. They are also commonly known as NFTs (Non-Fungible Tokens) and are registered via the blockchain through a smart contract, acting as a digital receipt. NFTs are non-replicable, and each token is unique, with its ownership and relevant information tracked on the blockchain.

Tokens are used within and outside of games, proving ownership of in-game items, such as weapons, avatars, or virtual plots of land. These tokens can be acquired through various means, including playing and completing tasks in crypto games, trading, buying, NFT airdrops, or even creating them in games like The Sandbox.

Gaming Cryptos

On the other hand, gaming cryptos, or gaming coins, are another type of reward within blockchain games. These are similar to well-known cryptocurrencies like Ethereum or Bitcoin and are digital assets on the blockchain that can be sent, swapped, or traded into other coins.

Like NFTs, gaming cryptos are acquired through playing games, completing tasks, crypto airdrops, or staking within a game for high yields of interest. They are used within the game's ecosystem, for example, to purchase in-game items, access special features, or even serve as a form of currency for transactions within the game world.

Some games may offer both tokens and cryptos, with tokens being used to prove ownership and cryptos being used as a reward or currency.

Examples of Gaming Cryptos and Tokens

• Decentraland (CRYPTO:MANA): A virtual world where players can own land and create games, art, activities, and more. The native token, MANA, is used for in-game transactions and provides governance rights.
• Axie Infinity (CRYPTO:AXS): An NFT-based game where players collect, trade, and battle creatures called Axies. Players can earn AXS tokens for playing, which can be traded for other cryptocurrencies.
• The Sandbox (CRYPTO:SAND): A decentralized platform where players create 3D game worlds. SAND tokens are used for in-game transactions, such as purchasing equipment and virtual land called LAND.
• Enjin Coin (CRYPTO:ENJ): A cryptocurrency designed to work with various blockchain games. It offers software development kits for developers to create digital assets like in-game currencies or special items.
• $MGMES: A play-to-earn crypto coin tied to the 2024 Olympics Games, where players can bet on athletic events and earn tokens.
• $SHIBASHOOT: A new meme coin offering an immersive Wild West-themed universe with battles and quests.
• $DICE: The native token of Mega Dice Casino, offering daily staking rewards based on casino performance and exclusive bonuses for token holders.

While gaming cryptos and tokens have distinct characteristics and applications within the blockchain gaming ecosystem, both are integral components that contribute to the unique experiences and opportunities that Web3 gaming offers to players and investors alike.

Frequently asked questions