As an increasing number of cryptocurrencies have entered the market, investors have a variety of projects to consider. Gaming coins―a relatively new type, have become a popular choice.
Gaming coins are cryptocurrencies that can be used to buy characters and weapons in online games. They are often used as the game’s in-game currency and can also be earned by completing tasks or play to earn crypto by using a play-to-earn model.
This review explores the best gaming crypto coins, where to find them and why you should consider investing in these assets.
Built on the Ethereum blockchain, Decentraland is a virtual reality world that can be purchased, sold, and governed by its users. Similar to other virtual worlds, it offers plots of land called LAND.
Decentraland offers its users freedom and opportunity to build games and other applications. Players can also create Districts, which are communities dedicated to a certain theme. One of the largest Districts is Aetheria, an area dedicated to cyberpunk themes.
The native currency for Decentraland, MANA, is used to purchase LAND and trade virtual items on the marketplace. Holders of MANA tokens can also vote on proposals made by the development team.
The Sandbox is a decentralized platform that enables users to create 3-D gaming environments and collectible virtual assets inspired by Minecraft. It uses a variety of visual programming tools for its goals, including the ability to deposit assets and collectibles on its virtual real estate.
Sandbox is a metaverse game based on the Ethereum network, with various NFT-based protocols. The platform offers SAND – the native cryptocurrency for transactions and settlements. SAND is an ERC-20 token that powers the ecosystem.
Axie Infinity (AXS)
Axie Infinity, a blockchain-based game created by Axie Infinity Labs and partially owned and operated by its players, offers players the opportunity to buy, collect, and trade creatures known as Axies. Axies are variants with more than 500 different body parts, each of which has various attributes.
Axie Infinity is one of the earliest examples of a P2E (player-to-player) gaming platform, where players can earn AXS tokens by playing. Some players earn thousands of dollars’ worth of AXS tokens every day.
Enjin Coin (ENJ)
Enjin Coin is a cryptocurrency for the gaming community. Unlike other gaming currencies, Enjin Coin can be used across a variety of games. Enjin offers an ecosystem of blockchain-based products and services for the gaming industry.
The Enjin platform allows developers to create virtual items on the Ethereum network and create decentralized applications (DApps) built on smart contracts, while offering a social marketplace that connects gamers and their communities.
The Enjin platform’s native cryptocurrency, ENJ, is locked in blockchain smart contracts to ensure its real-world value. It is currently ranked among the top ten coins by market capitalization.
Aptos is a new blockchain project created by developers from the Meta blockchain project Diem, which has been called a “Solana killer.” and a Byzantine Fault Tolerant (BFT) Proof of Stake (PoS) blockchain designed for security, scalability, and upgradeability. Aptos uses Move, a smart contract language that emphasizes secureness and flexibility.
APT token holders can stake their tokens in validators, who are then able to participate in consensus and blockchain governance. The APT token is listed on a number of exchanges, including KuCoin, Binance, Huobi, Coinbase and more with trading pairs such as APT/BTC or APT/USDT.
Tether (USDT) is one of the most common crypto coins you’ll find at online crypto casinos. Tether (USDT) is the first and most widely used stablecoin. The USDT price is worth one US dollar and is backed by Tether’s reserves.
It offers all benefits of a cryptocurrency, including decentralized design and the ability to transfer payments digitally, but also comes with the added benefit of stability because it is pegged to the value of fiat currency.
DeRace ( ERC)
DeRace is a metaverse in which you can breed, raise, and race unique NFT horses. You can also play to earn rewards by breeding and racing horses. The DeRace platform provides community management on multiple social media channels and also lets you construct your own hippodrome, which allows you to earn $DERC apart from owning racehorses.
DERC is an ERC-20 token, which means it runs on the Ethereum blockchain. The Ethereum network uses a proof-of-work consensus mechanism and is secured by a massive decentralized network of miners.
Despite their questionable reputation, cryptocurrencies and gaming tokens are now accepted as payment for products and services worldwide. According to CoinMarketCap statistics, billions of coins and tokens are in circulation.
The meteoric rise of blockchain gaming and the creation of metaverses have put video game money and coins, once thought to be mere playthings, on the cutting edge of economics. However, there is still much research to be done into each game currency and token before one can invest responsibly.
For those who are considering investing in a crypto gaming venture, it is more important than ever to do research. Gaming coins can be risky because they have not yet established a track record. It is best to learn about what the company offers, its goals and plans before making any decisions.