5 Gaming Cryptos That Might Explode Next Year
The cryptocurrency market might be down, but it is far from a “Game Over.” Digital assets continue to transform the gaming industry despite the recent slump. Every asset goes through an ebb and flow of price hikes and crashes, even the crypto market.
Also, more people play games in virtual worlds, affirming the demand for gaming-related products and services. In response, you might want to add the best gaming cryptocurrency to your portfolio.
Fortunately, we will talk about not one but five gaming crypto coins with huge potential in 2022. Note that cryptos are highly volatile, so plan your investments carefully.
- Ethereum (ETH)
- ApeCoin (APE)
- Decentraland (MANA)
- Sandbox (SAND)
- Axie Infinity (AXS)
1. Ethereum (ETH)
Believe it or not, the best token for crypto gaming is not solely for video games. Ethereum (ETH) is the second-largest cryptocurrency in the world in terms of market capitalization or market cap.
Yet, it is far from playing as the second fiddle to Bitcoin (BTC), the most popular cryptocurrency in the world. It has far more use-cases beyond a mere store of value.
For example, it lets people create non-fungible tokens or NFTs that assign ownership of an object to a crypto network. Nowadays, people use it to develop play-to-earn games.
These video games are also known as NFT games, crypto games, or blockchain games. They allow players to earn NFTs that you could convert into fiat currencies.
Later, you will see that the other gaming coins on this list are on the Ethereum blockchain. More importantly, investors expect the Merge to happen in late 2022.
It refers to the date when the Ethereum network will follow the proof-of-stake model. Once that happens, we might see Ethereum become more valuable!
2. ApeCoin (APE)
Following mainstream crypto news, you might see odd portraits depicting cartoon monkeys. Then, you may gasp in shock once you realize they sell for thousands of dollars!
Those are NFT artworks called Bored Ape NFTs, and they came from the Bored Ape Yacht Club. Now, they launched a cryptocurrency and governance token called ApeCoin.
Now, the OpenSea NFT marketplace allows ApeCoins as a payment method. However, its value recently spiked as the NFT game Otherside will also use this asset.
3. Decentraland (MANA)
Did you know that people are now buying digital real estate? What if I tell you that major tech firms like Samsung invested in a virtual world?
Decentraland fits those descriptions. It is a crypto network that lets people buy and sell real estate in its virtual space. Moreover, it uses the MANA token as its native cryptocurrency.
It has support from tech giants like Samsung, attracting the attention of institutional investors. Early investors have bought prime locations for low prices, but you can still grab the other assets.
4. Sandbox (SAND)
Think of this next entry as an alternative to Decentraland. Sandbox is similar because it lets users own in-game real estate. Instead of MANA, it uses SAND as its native token.
Both let you earn passive income from the properties by hosting activities. For example, you can SAND tokens while other users are playing games on your property.
It also has support from prominent names like the game company Atari and celebrity rapper Snoop Dogg. Whether you choose Sandbox or Decentraland, you could earn rewards by investing.
5. Axie Infinity (AXS)
The last entry has been a popular trend in the Philippines. Filipinos have been earning extra cash from it during the COVID pandemic. Nowadays, it is a popular NFT game in Southeast Asia.
It involves raising and battling digital pets in turn-based battles. Win or lose, you earn its native crypto AXS, Smooth Love Potions or SLP, and other goodies.
Then, you can sell them on the Axie Marketplace. It also has support from Yield Guild Games, a company that promotes blockchain-based gaming.
Remember that blockchain technology is in its early stages of global adoption. People are still developing it while discovering more use-cases for it.
That is why many investors say it has high volatility. In other words, its real-world value shifts wildly. Note that this article does not provide investment advice.
All writers’ opinions are their own and do not constitute financial advice in any way whatsoever. Nothing published by Inquirer.net constitutes an investment recommendation, nor should any data or Content published by Inquirer.net be relied upon for any investment activities.
Usa.inquirer.net strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.
Frequently asked questions
Which is the best gaming crypto?
Ethereum is the best gaming token because it hosts most other platforms. Also, token holders can stake these coins in crypto exchanges to earn more.
How do I buy crypto gaming tokens?
You can purchase them from crypto exchanges like Coinbase and Binance. On the other hand, you could earn them as in-game items in NFT games.
Should I invest in crypto gaming coins?
You should learn more about cryptos before investing. Note that all assets have risk, so only use the money you are willing to lose.