Oct 11, 2022 at 10:33Contents
According to data collected by CoinMarketCap, the world’s crypto gaming tokens market is now worth more than $12.8 billion. These tokens may be limited for use within a particular game or gaming ecosystem, but crypto investors know that these unique digital assets also have great real-world value.
Whether you decide to play-to-earn in P2E games to get tokens, or buy tokens early hoping for more players to get into the game, or even gamble the tokens (again hoping) to make more, gaming crypto is worth the investment.
Here are the top gaming tokens that have risen in value in 2022:
1. ApeCoin (APE)
ApeCoin (APE) tops the list. It was officially released on March 16, 2022, as “a token for culture, gaming, and commerce”, trading under the symbol $APE. It is an Ethereum-based ERC-20 token and the most valuable globally.
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It has a market capitalization of $2.23 billion, with 1 billion tokens in total supply, which were all minted in one go.
ApeCoin Ratings in October 2022The APE token ($APE) is the native coin of the Bored Ape Yacht Club. The Bored Ape Yacht Club is a collection of 10000 unique Bored Ape NFTs — unique digital collectibles that are tradeable on several exchanges, including Binance, Coinbase, KuCoin, Huobi, Kraken, etc.
Third-party developers have also incorporated ApeCoin into their games. The P2E mobile game Benji Bananas makes players earn special tokens that they can easily swap for ApeCoin. More games are expected to do the same in order to tap into the trade rates of the ApeCoin.
The ApeCoin price today is $5.13 USD with a 24-hour trading volume of $148,237,938 USD. ApeCoin is down 1.52% in the last 24 hours which means it is a great opportunity to invest.
Despite being the newest cryptocurrency on the block, it is already ranked 35th in market capitalization as of October 2022, with a live market cap of more than $1 billion USD. It has a circulating supply of 306,875,000 APE coins and a maximum supply of 1 billion APE coins.
2. Decentraland (MANA)
Decentraland (MANA) is a virtual reality platform built in the Ethereum blockchain. The game itself resembles Minecraft, with a play-to-earn model. Players on the platform buy pieces of land that they develop, enjoy and monetize using the game’s content.
The MANA tokens earned through gameplay in this virtual environment can buy more land for development, or be used to purchase NFTs on the Decentraland platform. Progress in the game depends on the player’s efforts and creativity.
The NFTs are yours to own. With an NFT, you automatically qualify as a member of the Decentraland DAO (Decentralized Autonomous Organization) and can participate in the decision-making of MANA, names and land owners through votes.
The Decentraland price in October 2022 is $0.660187 USD with a 24-hour trading volume of $114,181,826 USD. The current CoinMarketCap ranking is no.42, with a live market cap of $1,224,702,140 USD. It has a circulating supply of 1,855,084,192 MANA coins and the maximum supply is not available.
3. The Sandbox (SAND)
The Sandbox is a metaverse NFT game in a virtual world where players can build, own, and monetize their gaming experiences using SAND tokens.
The decentralized platform also allows players and creators both to own a piece of the gaming metaverse (LAND) and participate in the governance and economy using the SAND utility token. Players can upload their NFTs to the marketplace to sell or trade, or create gaming experiences within The Sandbox Game metaverse.
The Sandbox price just dropped on the night of 10/10/2022 from $0.8149 to $0.7808. This dip presents a good buying opportunity for quick investment.
The circulation supply of The Sandbox is 1,499,470,108 SAND, with a market cap of more than $1.2 billion USD.
Its price prediction is estimated to grow in the coming years as well.
4. Axie Infinity (AXS)
The Axie game is world-renowned for taking the Philippines by storm, with many passionate gamers quitting their real-life jobs to devote time and effort in this play-to-earn game.
Players partially own and operate the game to earn AXS (Axie Infinity Shards) tokens that they can use to decide the future of the game.
The characters are adorable, making the NFTs worth collecting to trade.
The AXS tokens are an ERC-20 governance token trading at $11.68 USD with a 24-hour trading volume of $50,055,614 USD.
The current CoinMarketCap ranking is no. 48, with a live market cap of over $900 million USD.
It has a circulating supply of 83,056,187 AXS coins and a maximum supply of 270,000,000 AXS coins.
5. Enjin Coin (ENJ)
Since its inception in 2009, Enjin has enabled game developers and others to build websites for clans or guilds, create forums, wikis and a community for players to chat and interact.
Enjin is a blockchain software that helps build entire Enjin ecosystems of products that individuals, businesses and developers can use to develop, trade, monetize and market NFTs.
The current Enjin Coin (ENJ) price is $0.428739 USD with a 24-hour trading volume of $30,574,337 USD. The current CoinMarketCap ranking is at no. 76, with a live market cap of over $400 million USD.
It has a circulating supply of 1 billion ENJ coins with the same maximum supply capacity. This could create a scarcity in the future that could help control the token’s inflation rate.
Key Takeaway on crypto gaming tokens
As we journey through the world of cryptocurrencies, it is clear that investment opportunities are vast and growing. However, as with any investment, approach with caution.
Early this year, hackers stole $617 million in Ethereum and USD Coin (USDC) from Axie Infinity players. The game founders were able to refund only a third of what players lost, which was not only alarming but a loss for many.
Moreover, trading in crypto may have its risks, but so does any investment you undertake in the real world.
Do your research extensively before taking the plunge to invest in cryptocurrencies.
All the best!
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