Are you interested in investing in gaming coins? Then, you’ve come to the correct spot if you’re seeking the top gaming cryptocurrency coins to invest in 2022. This article has evaluated the top ten gaming currencies with promising futures.
The gaming business has achieved an all-time high globally thanks to the lockdowns and stay-at-home mandates stemming from the COVID-19 outbreak. As a result, the metaverse and virtual and crypto gaming platforms with comprehensive AR/VR experiences are being developed. As a result, individuals can not only play games on these platforms and in the metaverse, but they can also explore on their own, build their story arcs, acquire real estate, collect collectibles, battle monsters, etc.
To perform any of them, you’ll need digital currency, which you may use to transact and buy a digital collection or have a wonderful experience. As a result of the heavenly marriage of the gaming sector and the blockchain network, gaming cryptocurrencies – coins and tokens – have emerged as game-changers in the current crypto environment.
Let’s take a look at the top 10 gaming cryptocurrencies in 2022:
1. Decentraland (MANA)
MANA is Decentraland’s crypto token, which is based on the Ethereum blockchain and is a growing blockchain-powered virtual world. This virtual environment, which was founded in 2017, can be explored and utilized as a basis for producing multiplayer games. Hundreds of 3D things are available in the Decentraland Builder, which may be utilized to build or manufacture nearly anything in this virtual environment as game tokens.
Players can purchase, sell, and exchange these game tokens. Users can also use these free and accessible marketplaces to buy and trade Decentraland-related virtual parcels. It’s no surprise that Decentraland is one of the most popular crypto coins. Players can also use MANA to purchase in-game products such as avatar costumes, as well as the opportunity to vote on future Decentraland developments. A single vote is represented by a single MANA token.
2. Axie Infinity (AXS)
In Axie Infinity, users purchase, breed, and pit monsters known as Axies against one another in order to win in-game currency known as little love potions, which may be converted for real money. It follows the Play-to-earn business strategy.
Each Axie is a non-fungible token (NFT), a one-of-a-kind collectable that can be purchased or sold on external exchanges. Players must have at least three Axies to start battles, with the lowest costing roughly $200, with the highest recorded being upwards of $130,000. On a regular basis, players can pay out their tokens. Small Love Potion (SLP) and Axie Infinity Shard are the two sorts of tokens in the game (AXS). The SLP is the currency that players frequently earn and cash out. The AXS is a planned governance token that, once implemented, will give owners a voice in how the game is developed.
3. The Sandbox (SAND)
The Sandbox blockchain project based on Ethereum enables users to create and explore galaxies in a virtual universe. It used to be a mobile and PC game, but Animoca Brands bought it in August 2018. (and was brought into the blockchain sphere).
Players in the system can create and customize their own characters to access the Sandbox metaverse’s numerous landscapes, games, and hubs. The developed digital items can subsequently be monetized with NFTs and sold on the Sandbox Marketplace for SAND tokens. The Sandbox, unlike other popular play-to-earn games, does not have a predetermined gaming universe. Instead, it employs a dynamic approach that allows users to customize anything with free and simple design tools. SAND can be bought on WazirX.
4. Gala (GALA)
Gala Games is Gala’s full name, and GALA is the token’s name. It is based on Ethereum, and Eric Schiermeyer, one of the co-founders of mobile games business Zynga, which generated games like Mafia Wars and Farmville, founded it in 2019.
Gala has a user base of 1.3 million people. Its goal is to provide those consumers with more control over their gaming experiences. “The initiative intends to change the reality that players can spend hundreds of dollars on in-game items and countless hours playing the game, all of which can be taken away from them with the click of a button,” according to Coin Market Cap. Gala participants can possess NFTs (non-fungible tokens), which let them vote on new games and affect how they are run.
These NFTs, as well as in-game products, can be purchased using the GALA token. Currently, Gala One includes only one playable game, Town Star, and more games are currently in development.
5. Flow – Dapper Labs (FLOW)
Dapper Labs, the organization behind the CryptoKitties blockchain game, released Flow in 2020. The Flow playground lets developers generate and exchange non-fungible tokens, a sort of digital asset. An NFT is similar to other crypto assets that may be purchased, sold, and traded without the use of a middleman over the internet. Dapper Labs is currently working on new platforms with Flow that will allow these types of applications to reach a wider audience.
Another cool aspect is that the team of developers behind FLOW token has created this tool for aspiring devs to familiarise themselves with Cadence, the native language that is used to write Flow.
6. Enjin Coin (ENJ)
Enjin is a cryptocurrency first introduced in 2017 by the Enjin firm. It is an Ethereum-based cryptocurrency that supports both fungible and non-fungible tokens. Furthermore, since it is an ERC-20 compliant token, it can be transferred and received using an Ethereum wallet.
Enjin is a platform that lets users create, store, list, and trade NFTs all in one location. As it has developed as a platform with fewer expenses, most projects are interested in using it.
Apart from the tradable element, Enjin may also be used to purchase other in-game things such as accessories, weapons, etc.
7. SushiSwap (SUSHI)
Created in August 2020, SushiSwap (SUSHI) is a decentralized exchange and digital token.
SushiSwap, being a decentralized exchange, employs an automated market-making system (AMM). It allows users to swap bitcoin tokens, but no central authority oversees the transactions. SushiSwap, on the other hand, calculates the price using mathematical methods and manages transactions using smart contracts.
Liquidity pools, or big pools of funds, are available at SushiSwap. Its members lend their crypto to these liquidity pools in exchange for rewards.
8. RedFox Labs (RFOX)
The RedFox Labs is a metaverse firm that invented the RFOX VALT, a comprehensive experience concentrating on buying, media, gaming, and incentives. RFOX has established an environment of solutions for e-games, Defi, NFTs, digital, and more, all connected into the metaverse, with RFOX VALT as the center point. The RFOX token serves as the ecosystem’s principal medium of exchange, while the VFOX token distributes a percentage of the RFOX VALT metaverse’s earnings to token holders. It is expected to be one of the most popular metaverse cryptocurrencies in 2022.
The RFOX token is a type of digital payment that investors and users may use to complete any transaction in the RFOX VALT metaverse, including creating and selling NFTs.
9. DeRace ($DERC)
DeRace — one of the most inventive play-to-earn metaverses – uses $DERC as its native token to power breeding and entrance fees. This NFT horse racing metaverse is a unique idea in which you may breed NFT horses with unique traits and compete in horse races.
DeRace has a large social media following and also assists you in building your hippodrome as a method to make extra $DERC aside from owning racehorses.
Users may buy NFTs representing a different horse because DeRace is a metaverse initiative. They may then establish their horse ownership, race it, put bets on it, and profit if their horse wins.
10. Render (RNDR)
The Render Network is a blockchain-based and crypto-enabled service that allows people to donate underutilized GPU capacity to companies that help them render motion graphics and visual effects. In exchange, users are provided the Render Token (RNDR), the network’s native utility token.
By constructing a peer-to-peer (P2P) network on which individuals and organizations may tap into spare computer resources affordably and effectively, Render substantially simplifies the traditional methods for rendering and streaming 3D environments and other visual effects. As a result, it’s an integral part of the metaverse’s next-generation digital products and services.
Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn’t represent any investment advice or WazirX’s official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.