What is crypto gaming coin

What is crypto gaming coin

A gaming coin is a type of in-game cash for a certain game. Gaming money can be used to purchase in-game items such as characters and weapons. Players can earn currency by completing tasks. In these games, non-fungible tokens (NFTs) can also be used.

By the end of 2021, the total market capitalization of P2E cryptocurrencies would have surpassed $25 billion. It is apparent that significant gaming companies, as well as investors, are becoming more interested in the gaming currency ecosystem.

Top 10 best crypto gaming coins to invest in

Lucky Block (LBLOCK)

crypto gaming coins

Lucky Block Overview

Lucky Block is a BSC-based crypto asset that has taken advantage of the reduced fees of the Binance Smart Chain to provide investors with more frictionless transaction operations. Lucky Block was developed to increase transparency and trust among players during tournaments or weekly competitions.

With its marketing endeavors, Lucky Block is taking more steps toward increasing adoption. Only a few days before his fight with Tyson Fury, Dillian White, a heavyweight champion, joined the site. During the bout, the boxer was decked out in Lucky Block clothing, which piqued the interest of fans and supporters.

Lucky Block has also enlisted welterweight champion Florian Marku, a British boxer, as an official ambassador. By utilizing such renowned players in the sports world, LBLOCK is poised to see price increases as more individuals seek to enter the crypto field.

LBLOCK Token

Many believe that LBLOCK, a new crypto gaming asset that supports Lucky Block blockchain transactions, will be the next cryptocurrency to erupt this year. Because of its applicability in the gaming sector, the crypto asset is regarded as one of the greatest gaming cryptos to invest in.

The crypto asset currently trades at $0.0009983, with a market cap of $40 million. The crypto asset, like the overall crypto market, has been on a downward trajectory in recent weeks. This, however, presents investors with an opportunity to participate in the asset at a low cost.

ApeCoin (APE)

crypto gaming coins

ApeCoin Overview

ApeCoin DAO is a decentralized autonomous organization (DAO) in which all APE token holders can vote on governance issues. They have the authority to allocate the Ecosystem Fund, establish governance rules, pick initiatives and collaborations, and so on. Following the DAO members' approval of the proposals, the APE Foundation will carry out the community-led governance decisions.

Yuga Labs is a web3 firm best known for developing the Bored Ape Yacht Club. It will participate in the ApeCoin DAO as a community member and use APE as the principal token in new initiatives.

APE Token

ApeCoin (APE) is the APE ecosystem's ERC-20 utility and governance token. It strengthens the decentralized APE community at the forefront of Web 3.0.

The ApeCoin DAO governs APE, which is funded by the APE Foundation. Token holders can use APE to vote on DAO governance proposals and gain access to special APE ecosystem features such as games, events, and services.

Yuga Labs, the company behind the popular Bored Ape Yacht Club (BAYC) NFT collections, has also made APE the primary token for all future products and services.

The crypto asset currently trades at $4.25, with a market cap of $1,2 billion.

Decentraland (MANA)

crypto gaming coins

Decentraland Overview

Decentraland is a 3D virtual reality platform that allows artists and makers to engage with one another while also sharing and monetizing their work. The site was created for artists, entrepreneurs, and individuals looking for a creative outlet or a source of entertainment.

Decentraland is distinguished by the freedom granted to participants. Virtual real estate (LAND) can be utilized for a multitude of things, like games, artwork, activities, digital tourism, and so on. Decentraland also offers Districts, which are communities dedicated to various subjects. Aetheria, for example, is one of the largest Districts and is designed in a cyberpunk style.

Decentraland is a top crypto game startup that uses the DAO for governance decisions. The asset is presently trading at $1.53 and has a market capitalization of $2.6 billion. This is most certainly the start of a positive upsurge, and investors might profit from this price movement.

MANA Token

MANA, Decentraland's native token, is used in-game. The crypto asset is used to facilitate platform transactions. Among these transactions are the purchase of LAND, the vote on LAND policies, and the earning of incentives.

The Decentraland metaverse has hosted a number of events, attracting a number of gaming aficionados interested in learning how to best apply themselves in the virtual reality platform. An increase in use cases always leads to further adoption of gaming cryptocurrencies, such as MANA, and sends their price up. MANA holders have complete control over how the platform operates, including LAND auctions and the types of content permitted in the metaverse.

The crypto asset currently trades at $0.8794, with a market cap of $1,6 billion.

The Sandbox (SAND)

crypto gaming coins

The Sandbox Overview

The Sandbox is a simulated gaming platform where players can play for free and earn prizes. The platform combines the distinct characteristics of DAOs and NFTs to build a decentralized ecosystem for gamers.

The SAND platform focuses on developing a creative play-to-earn approach that allows users to design and play games simultaneously.

So far, The Sandbox has gathered a long and diverse list of collaborations that could aid in the growth of its user base. It is collaborating with Atari to construct virtual theme parks. Several celebrities, including Snoop Dogg and Deadmau5, have also joined The Sandbox and created their own virtual homes.

SAND Token

SAND tokens are used to power the Sandbox. Players utilize these tokens for in-game transactions such as acquiring equipment and LAND. There are only 166,464 LAND parcels accessible; only 166,464 will exist.

Sandbox is gearing up for Alpha season 3, which will include new methods to engage with NFTs and provide value to the space while also constructing an open metaverse.

The crypto asset currently trades at $0.9897, with a market cap of $1,2 billion.

Axie Infinity (AXS)

crypto gaming coins

Axie Infinity Overview

Axie Infinity, inspired by Pokémon, allows players to buy, trade, and battle Axies. These Axies are non-fungible tokens (NFTs), and you must purchase at least three of them to begin playing.

This game became immensely popular in 2021, owing in large part to the fact that players could earn AXS gaming tokens by playing. Some players claim to earn hundreds to thousands of dollars in cryptocurrency per month.

Since then, Axie Infinity has cooled off, losing significant value and seeing player numbers plummet over the first half of 2022. However, more than 75% of active monthly users play Axie Infinity every day, indicating that the game is effective in retaining players.

AXS Token

Axie Infinity, which has a market capitalization of $1.8 billion, was one of the earliest pay-to-earn gaming platforms (P2E). The game has already garnered an international following, and its native AXS token is still performing well.

AXS holders can earn incentives through staking tokens, playing the game, and participating in governance. With over 500 body parts accessible, axes can take on a variety of forms.

Besides, playing the Axie Infinity game grants you Smooth Love Potion (SLP) tokens. This digital asset is used to replace experience points. SLP are ERC-20 tokens that may be used to create new digital pets known as Axies. The cost of breeding starts at 100 SLP and gradually rises to 200 SLP for the second breed, 300 SLP for the third, 500 SLP for the fourth, 800 SLP for the fifth, and 1,300 SLP for the sixth. Axies can only be bred seven times, and the seventh breed costs 2,100 SLP. This limit exists in order to prevent market hyperinflation.

The crypto asset currently trades at $14.43, with a market cap of $1,1 billion.

Enjin Coin (ENJ)

crypto gaming coins

Enjin Coin Overview

Enjin is a system that helps game developers to create non-fungible and fungible in-game tokens. Enjin's market makes it easier to buy and sell ERC-1155 assets.

Enjin and Microsoft partnered in 2020 to launch Azure Heroes, a program that offers blockchain-based smart badges to developers to recognize their accomplishments and efforts. Each badge is made as an NFT with "verifiable rarity, highest circulation limits, confirmed origin, and unique identifiers," according to Enjin.

The original Enjin network already has hundreds of communities and over 20 million users. The platform is being used by around forty gaming companies.

ENJ Token

ENJ, Enjin's native cryptocurrency, is locked in smart contracts to ensure the crypto asset's real-world value. ENJ is one of the most valuable crypto gaming coins 2022. Enjin plans to update its affinity chain in the second quarter of 2022 to facilitate the distribution of crowd loan incentives.

The cryptocurrency has seen minimal price changes, giving investors opportunities to profitably enter and exit the market. The chart's overall view is negative, but investors can hope for a better turnout in the next weeks.

The crypto asset currently trades at $0.5123, with a market cap of $457 million.

Gala Games (GALA)

crypto gaming coins

Gala Games Overview

The Gala Games blockchain was established by Eric Schiermeyer, co-founder of Zynga and inventor of Farmville.

Gala Games has over 1.3 million monthly active users and has sold over 26,000 NFTs since its inception in 2019, with the most expensive NFT worth $3 million, according to CoinMarketCap. Gala's goal is to give gamers a piece of the billions made by gaming platforms. The network intends to enable users to extract value from gaming ecosystems through the usage of NFTs and other digital assets.

GALA Token

GALA is a non-refundable utility token used to facilitate commerce among Gala Games ecosystem participants. It may also be used to influence game development by Gala users.

The GALA token is a utility token that rewards the most active players in the ecosystem. Token holders have the ability to vote on which games will be included on the Gala Games network.

The crypto asset currently trades at $0.05736, with a market cap of $396 million.

STEPN (GMT)

crypto gaming coins

StepN Overview

STEPN is a web3 lifestyle application with SocialFi and GameFi capabilities. STEPN's purpose is to promote socialization while also supporting users in living a healthy lifestyle.

The STEPN app, which incorporates blockchain token incentives, is the first sports app developed on the Solana blockchain. After purchasing sneakers (NFTs) from the marketplace, users can earn tokens by walking, jogging, or running every day.

GMT Token

STEPN (GMT) is a cutting-edge move-to-earn cryptocurrency. To gain steps, users must first purchase a pair of NFT sneakers and then report their daily walking, running, and jogging. They may eventually gain GMT if they take a significant number of steps.

STEPN earns money from a variety of sources. The site makes money by selling NFT shoes, collecting royalties on NFT transactions, and charging users to recharge their energy and progress through stages. Earnings are determined by the amount of movement tracked by GPS over five-minute intervals, which correspond to one unit of energy, which progressively recovers over time once totally depleted.

The crypto asset currently trades at $0.7835, with a market cap of $468 million.

Yield Guild Games (YGG)

crypto gaming coins

Yield Guild Games Overview

Yield Guild Games is a decentralized autonomous organization (DAO) that invests in virtual non-financial transactions (NFTs). The DAO's token, YGG, is widely considered as one of the top gaming crypto coins.

The organization's goal is to build the greatest virtual economy possible, maximizing the utility of its assets and providing income systems for its investors. Yield Guild Games' primary source of revenue comes from directly or indirectly exploiting YGG NFT assets. Members of the community use the assets in exchange for a percentage of the in-game prizes.

YGG Token

Yield Guild Games (YGG) is an ERC-20 token that entitles holders to vote on the governance of the YGG DAO.

YGG, the platform's native token, is used to pay for network services. It can also be staked in the YGG vaults to gain rewards or used to unlock unique content on the YGG Discord channel. Furthermore, YGG holders can propose and vote on choices affecting the guild's technology, products, initiatives, token distribution, and overall governance structure. The winning recommendations will be rewarded YGG tokens and will be implemented into the DAO.

The crypto asset currently trades at $0.4599, with a market cap of $53 million.

My Neighbor Alice (ALICE)

crypto gaming coins

My Neighbor Alice Overview

My Neighbor Alice is an upcoming multiplayer farming and building game. Players can buy land on one of six different islands, farm it, and buy animals from the market.It has a fun look that will remind many players of the Animal Crossing series. The character Alice serves as an "in-game companion," which may make this more approachable to beginners than most blockchain games.

ALICE Token

ALICE tokens are the game's currency. ALICE tokens are used for marketplace purchases, and players can earn them by performing missions. Token holders can earn incentives by staking crypto.

On these islands, players can purchase virtual land in the form of NFT tokens and adorn it with in-game things such as houses, lakes, decorations, animals, plants, and so on. Avatars are used to represent players and can be personalized with in-game stuff. All of these are tradeable on the marketplace or other blockchain markets. The game's makers recently established a $80 million Metaverse Grant Program to promote the most innovative metaverse expansion concepts.

The crypto asset currently trades at $2.55, with a market cap of $77 million.

FAQs about crypto gaming coins

Is crypto gambling legal?

What is crypto gambling?

Crypto gambling is simply wagering at a casino using digital currencies such as Bitcoin, Ethereum. These digital currencies have grown in popularity over the last few years. People have been driven to hunt for other online payment solutions across various businesses, especially now that there is a global epidemic. We were used to betting with the dollar, euro, or pound in online gaming. However, you can now deposit and withdraw funds from your casino accounts using any of the main cryptocurrencies.

Legality of crypto gambling

As of now, there are no clear resolutions to several questions about the usage of cryptocurrencies for gambling in many areas. Nonetheless, there are several fundamental characteristics of online crypto betting that you should be aware of. They are as follows:

Because most cryptocurrencies are neither legally permitted nor openly outlawed, there are no formal regulations governing crypto gaming.
The acceptance of cryptocurrencies differs by country. Some countries are bullish on the adoption of various cryptocurrencies, which they regard as the currency of the future. Other governments outright prohibit the use of cryptocurrency.
There are a few gaming countries that do issue licenses to cryptocurrency-accepting casinos. These include the Curacao government and the well-known United Kingdom Gambling Commission. These governing bodies can now accept responsibility for overseeing gambling operations in cryptocurrency casinos. An online casino is lawful as long as it follows the rules and regulations of the chosen jurisdiction.

Where to buy crypto gaming coins?

Some cryptocurrencies are more difficult to acquire than others. One of them is gaming coins. Here are the instructions to help you locate a means to purchase gaming coins:

Step 1: Checkout CoinMarketCap

CoinMarketCap gives a list of purchasing possibilities for each cryptocurrency (also known as market pairs):

Search for gaming coins on CoinMarketCap.
Near the price chart, press the "Market" button. This view will show you a complete list of where you can buy gaming coins as well as the currencies you can use to get it.
Under "Pairs," you'll find the abbreviation for gaming coins, as well as a second currency. The second currency is used to purchase gaming coins.
For example: If you want to buy APE using US dollars, look for APE/USD.

Step 2: Choose a platform for your purchase

Different systems have varying degrees of security, dependability, and liquidity. Do your homework before opening an account.

Step 3: Make purchase on chosen platform

Every platform operates in a unique manner. Some platforms are relatively simple to use, while others are not. In general, buying crypto with a fiat currency like the US dollar will be easier than buying it with another coin.

If you must buy gaming coins using another cryptocurrency, you must first build a crypto wallet that supports gaming coins, then buy the first currency and use it to buy gaming coins on the platform of your choice. For example, you can store your crypto gaming coins on coinbase - one of the safest online marketplace for buying, selling, transferring, and keeping cryptocurrency.

If you get stuck, most platforms offer help. If they don't, there is a thriving community of crypto aficionados who have most certainly provided guides on YouTube, Twitter, and other platforms.

What is the future of crypto gaming coins?

Gaming coins are a risky investment. Although several of them achieved exceptional success in 2021, the entire blockchain gaming sector plummeted after that, with numerous famous projects losing 80 percent or more of their earlier highs.

The future of gaming currency is highly dubious. It's simple to see the potential of blockchain-powered virtual worlds and games, but they have a long way to go before they can compete with the video game industry. Even if blockchain gaming succeeds, no one knows which, if any, of the present games will survive.

Doing your research is more vital than ever for people who decide to embrace crypto gaming as an investment possibility. Because gaming coins are new, they do not yet have a track record. To make an informed decision, take your time understanding what they supply and what their goals are.

Conclusion

Crypto gaming coins are among the market's most active. They are truly working on some intriguing concepts that have the potential to change an already big sector. The amount of money streaming into the space is confirmation of this, and this money will only grow over time.

Of all, the space is still in its infancy, and a lot may happen between now and then, including regulation. As a result, before investing, you should conduct extensive research, become familiar with the fundamental principles of each game's currency and token. Therefore, you will have a list of the best crypto gaming coins to watch.

Disclaimer:
"This article is intended for and only to be used for reference purposes only. No such information provided constitutes advice or a recommendation that any investment or trading strategy is suitable for any specific name."

10 best crypto gaming coins in 2022