5 Gaming Tokens You Should Have In Your Portfolio

온라인 슬롯 사이트

Photo Credit: Analytics Insight

 

Given the diverse array of cryptocurrencies available, investors have a range of projects to explore. Gaming coins, a relatively recent addition, are gaining popularity. Gaming coins seamlessly blend two highly sought-after sectors: cryptocurrency and video games. Numerous online incorporate cryptocurrency as their in-game currency.

This allows players to use it to acquire characters and weapons. Additionally, these games often employ a play-to-earn model. With this, players earn cryptocurrency by completing various in-game tasks. Let’s discuss 5 Gaming Tokens you should have in your portfolio and highlight tips you must remember before investing in gaming tokens.

Decentraland

The Decentraland ecosystem operates on Ethereum. It is a decentralized metaverse that allows users to modify its structure freely. Like other virtual worlds, Decentraland provides plots known as LAND. Users can buy and use these as they see fit.

What distinguishes Decentraland is its flexibility for players. LAND can be used for various applications, including games, artwork, activities, and digital tourism. Decentraland also features communities called Districts that focus on specific subjects. For example, Aetheria, one of the larger Districts, is designed with a cyberpunk vibe.

MANA, Decentraland’s native coin, is utilized for in-game transactions like buying LAND. It is also a , granting holders voting rights. This has also made it one of the most popular gaming platforms and a high-potential token for your portfolio.

Axie Infinity

Axie Infinity draws inspiration from the Pokémon game. This blockchain-based platform allows players to engage independently and fight with creatures known as Axies. These Axies exist as non-fungible tokens. A player must own at least three Axies to compete in this metaverse game.

In 2021, this gaming platform experienced a surge in popularity. This growth was mainly due to its incentivization model. Here, players can accumulate AXS gaming tokens through gameplay. AXS is the game’s native reward token. There have been claims of players earning substantial amounts of AXS tokens, ranging from hundreds to thousands of dollars per month.

The supporters of Axie Infinity undoubtedly rejoiced at the entity’s remarkable achievements. Initially appraised at approximately $0.54 in early 2021, its value has experienced a substantial upswing, reaching close to $150.

This signifies an extraordinary growth of over 28,000%. It also showcases its ability to maintain sustained interest among users, positioning it as a valuable inclusion in any digital asset portfolio.

My neighbor Alice

My Neighbor Alice is an upcoming multiplayer agriculture and construction game. Players can purchase land spread across six islands, farm it, and buy animals from the marketplace. The game boasts a playful design that will remind many players of the Animal Crossing franchise. The character Alice is an “in-game friend,” which may make it more approachable than most blockchain games.

ALICE tokens are the in-game currency. They can be used for marketplace purchases, and completing tasks earns players ALICE tokens. Token holders can also stake Tether to gain incentives. It is challenging to forecast whether the game will succeed; however, the price of the game’s cryptocurrency will rise if it becomes popular.

Enjin Coin

Investing in gaming coins can be done differently using Enjin Coin. It’s not connected to any one particular blockchain game. Instead, Enjin Coin is designed to function with various games.

Enjin, the firm that created this coin, provides software development kits. Developers can use the kits to produce digital assets for their blockchain games, such as unique goods or in-game currency. Enjin’s wallet lets users track their inventory for games linked to the Enjin platform.

Developers creating digital assets on the platform must lock Enjin Coin into a to guarantee the assets’ actual value. This cryptocurrency’s versatility could help it succeed in the future, even though no one should expect it to replicate that success.

The Sandbox

Users of the decentralized Sandbox platform build their 3D gaming worlds using visual scripting tools without requiring any prior coding experience. LAND is the digital space where users create games and store assets.

SAND tokens run the Sandbox. Players use tokens to make in-game purchases like LAND and equipment. There are just 166,464 LAND parcels available; they are scarce, making them more valuable and a good form of investment.

The Sandbox has accumulated a long and diverse list of alliances thus far that may aid in expanding its user base. It is developing virtual theme parks in collaboration with the game firm Atari. Some well-known people have also joined The Sandbox and created their virtual properties. This long list includes celebrities like Snoop Dogg and Deadmau5.

Tips To Consider Before Buying Into A Game Token

Games that use blockchain, especially those where you can earn money by playing (P2E games), have become popular. This section examines the essential things to consider before investing in a game token. 

 

Team

The team behind a product is as important as the product itself. You want to examine the team’s experience, transparency, and ability to communicate their vision. Key questions to ask include: Who are they? What is their professional background and experience in the crypto space? Do they have advisors and partners? Are they communicating and engaging with the community?

Tokenomics and Utility

Understanding the tokenomics and utility of a game token is crucial. Read the project’s whitepaper to see how the tokens interact with the game and if they have a valid use case beyond a cash grab. Analyze the token allocation, vesting, and deflationary measures. Be wary of projects where the tokenomics primarily benefit the founding team.

Community Strength

The success of play-to-earn games relies on community strength. Evaluate the size of the community, but more importantly, look for organic engagement on social media, forums, and messaging platforms. A robust and engaged community is a positive signal.

Revenue Generation Model

Many play-to-earn games have been criticized for resembling Ponzi schemes. Investigate the game’s revenue generation model to ensure it can sustainably reward players without relying solely on token reserves. When the reserves run out, the project may become unsustainable.

Token Holders and NFT Requirements

A fair distribution of token holders reduces the risk of a single entity causing a significant price dump. Check the token contract to see the number of holders. If the game requires NFTs, understand their role and avoid investing in games that don’t require NFTs for critical tasks.

Overall Market Conditions

While not specific to a particular game token, consider the current state of USDT and gaming markets. Bear markets can present opportunities for builders and long-term investors to position themselves for future growth.

 

Conclusion

Gaming Tokens hold great potential mainly due to their community involvement. The 5 crypto tokens highlighted in this article all show great long-term potential. Crypto investors do well in considering adding them to their portfolios. However, since cryptocurrency investments are dangerous due to market volatility, research and portfolio diversification are essential.