If there’s one segment of the cryptocurrency market that has been doing exceptionally well this year, it’s gaming cryptos. Platforms such as Decentraland (MANA) don’t need an introduction anymore because they’ve already attracted plenty of attention from seasoned crypto investors and regular fans of video games alike.
Even large video game publishers, such as Electronic Arts and Ubisoft Entertainment, believe that the most popular games in the future will be backed by blockchain technology, allowing their players to prove ownership of virtual assets and trade them as non-fungible tokens (NFTs).
Because the gaming metaverse is still in its infancy, gaming cryptos are emerging at a rapid rate, and the most promising projects could play important roles in it. By betting on them early, you can see a huge return on your investment down the road.
Disclaimer: This article is for informational purposes only, and it does not include any financial advice. Please remember to always do your own research before investing into any gaming cryptos. If you’re new to the crypto world, and would like to start your trading journey, we highly recommend you consider using a trusted exchange platform like Nexo or Binance.
Despite its recent slump, UFO Gaming has experienced an enviable growth this year, making the earliest investors extremely happy.
UFO Gaming is building something called a dark metaverse, which it describes as a closed-loop ever-expanding ecosystem consisting of play-to-earn games, breedable in-game NFTs, earning virtual land, and other aspects.
Right now, UFO Gaming has a single game, Super Galactic, but more games are coming in the near future. Thanks to the unique rating system, more active players can earn bigger rewards and access more challenging game content.
Recently, UFO Gaming branched off into the eSports territory by launching its own Apex Legends Tournament hosted by Twitch streamers Apryze and Nokokopuffs. The prize pool worth a whopping $10,000 immediately attracted plenty of attention, and that’s exactly what this gaming crypto needs to succeed.
Vulcan Forged is like an incubator for blockchain games. This community-based project supports developers by providing the resources, infrastructure, and money needed to create world-class blockchain games.
The platform has its own thriving NFT marketplace and a tool that allows for instant dApp and NFT creation, and they’re both powered by the PYR settlement, staking, and utility token.
What’s really interesting about Vulcan Forged is the fact that 10 percent of the entire PYR supply goes into the LAVA pool. Players can then earn LAVA tokens by simply playing and engaging with any Vulcan Forged-made or hosted game. Best of all, the more LAVA tokens a player has, the more PYR airdrops they can receive each month.
Merit Circle isn’t your typical crypto game. Instead, it’s an innovative project whose goal is to maximize value accrual across different games in the metaverse.
To be more precise, Merit Circle is a branching decentralized autonomous organization (DAO) whose members work together to participate in play-to-earn games and precious NFTs so they can collectively earn money.
The project has partnered with many leaders in the play-to-earn industry, giving its members access to exclusive rewards and emerging games. If you would like to increase your earning potential, then you can join Merit Circle as a scholar by applying for a scholarship on the official Discord server.
Understandably, Merit Circle focuses on the largest games out there, such as Axie Infinity, which are often prohibitively expensive for new players to get into on their own. However, Merit Circle members can create subDAOs, each representing a specific play-to-earn game. All subDAOs then contribute to the mainDAO.
It can be difficult to understand everything RMRK is trying to do because the scope of the project is pretty large.
What you should know is that it’s built on the Kusama blockchain, Polkadot’s canary network, and designed to enable NFT creators to put together and build a system of arbitrary complexity by combining the so-called NFT legos.
These NFT legos can own other NFTs and change their output media by equipping them with additional building blocks. For example, imagine that you own two NFTs: a virtual dog and a fancy dog collar. RMRK’s NFT legos make it possible to put the collar on the virtual dog to create what’s essentially an upgraded version of the original dog NFT, increasing its value.
If you would like to learn more about RMRK, you can join the RMRKable Hacktoberfest. Besides learning a lot of useful information, you can also earn $50,000 in prizes. Registration ends on November 30, 2021, so you better hurry up to secure your virtual seat.
As the name of this gaming crypto suggests, the project is inspired by the wildly popular Japanese digital pet handheld game, Tamagotchi. Just like Tamagotchi, Aavegotchi lets you take care of a virtual pet, but there’s a lot more to it than that.
Each Aavegotchi virtual pet is an ERC-721 non-fungible token that has a cryptocurrency stake inside. This stake comes from tokens staked through the Aave DeFi lending protocol. Players earn interest depending on which token is staked inside their Aavegotchies.
Of course, Aavegotchies also have a certain rarity value, which reflects everything from the uniqueness of their names to their traits to equipped wearables within the Aavegotchi universe.
Aavegotchi has recently partnered with Blackpool, a quantitative hedge fund for the NFT, so the future is looking bright, indeed.
Wrapping Things Up
By looking at the top 5 gaming cryptos currently available, we feel that 2023 will be a huge year for blockchain gaming. Developers from around the world are working on extremely promising projects that implement many features cryptocurrency enthusiasts and gamers have been dreaming about for years, and major corporations see the growing demand and want to be part of this exciting space.
You can be part of it too. All you need to do is recognize the opportunity and join the right project early on.