Top game tokens

Game tokens have become a catalyst for the mass adoption of cryptocurrencies and Web3. A wide range of crypto-gaming platforms interact with the blockchain in various ways. Accordingly, many investors consider top game tokens as a good investment opportunity. However, according to Coinmarketrate.com, different game tokens have different goals in each game they serve. For example, some tokens serve as in-game currency for the purchase of weapons and items, and some are in-game items themselves.

In addition, each token plays a role in the game economy. One of the most popular formats of crypto games is the play-to-earn (P2E) model, in which players can participate in battles, quests and events, receiving passive income in the form of a number of the best cryptocurrency tokens.

Well, let’s look into this issue in more detail.

GameFi

The term “GameFi” is synonymous with crypto games. It stands for a combination of online gaming and decentralized finance (DeFi). Instead of the usual “game to win” model, the “game to earn” model uses financial incentives to reward players for their time and skills, promote acceptance of the game and encourage its continuation.

Strategy games are among the most popular types of GameFi games. However, there are several P2E platforms covering many different game styles. One of the most common features of the GameFi industry is the use of NFT.

Non-interchangeable Tokens (NFT)

Unlike interchangeable currencies such as Bitcoin, Ethereum and Fiat, non-interchangeable tokens (NFT) are a unique representation of virtual or physical property. Immutable assets are interchangeable, that is, if you borrow $100, then you can use any combination of coins or banknotes to repay the loan. However, NFTs work somewhat differently.

Non-interchangeable tokens can represent almost any type of asset. In particular, they play an important role. They can represent unique and rare in-game items. Moreover, the ability to tokenize assets on the blockchain gives players the opportunity to confirm digital ownership of game assets, which allows them to trace ownership to each previous owner. In addition, they can prevent forgery and illegal copying.

Metaverse

The metaverse is a series of virtual worlds, experiences and simulated digital environments in which blockchain is used to improve social interaction on the Internet. Using elements of virtual reality (VR) and augmented reality (AR), the metaverse combines immersive, interactive social experiences, crypto games, NFT, virtual land ownership and virtual workplaces. In addition, the metaverse allows users to create and participate in a decentralized digital economy.

Now that we’ve discussed some of the basic principles of crypto games, let’s take a look at the most famous game tokens. Below we will look at the leading game tokens by market capitalization, according to the data Coinmarketrate.com.

MANA – Decentraland

Decentraland is a virtual reality metaverse gaming ecosystem on Ethereum. Using the native MANA token, players can purchase virtual land NFTs called LAND. In addition, LAND owners can create unique, interactive virtual experiences and participate in the virtual economy. In addition, players can confirm ownership of all apps, wearable avatars and the experience they create in the game.

The MANA token is the main means of exchange in the Decentraland game and is necessary for in-game purchases. In addition, MANA is the largest gaming token by market capitalization at the time of writing.

AXS – Axie Infinity

Axie Infinity is a decentralized game universe on Ethereum where players can breed, collect, fight and create kingdoms for collectible pets known as “Axies”. A player-owned economy allows players to own their resources and trade them with other players. Players can also compete in skill-based games and participate in quests, earning rewards. In addition, players can implement complex strategies to earn resources and unlock storylines.

The Axie Infinity game uses the AXS token, which is among the best game tokens.

SAND – “The Sandbox”

The Sandbox is another popular metaverse gaming platform on Ethereum. This community-driven platform allows creators to build virtual lands and monetize in-game items and experiences on the blockchain using the in-game marketplace. Players need a SAND ERC-20 token to purchase items for use in the game. In addition, the SAND token can be delegated to staking, to receive passive income, and is necessary to participate in the management of the platform.

GALA – Gala Games

Gala Games is a blockchain-based platform whose goal is to use blockchain by implementing it into exciting gaming processes that everyone will want to play. Genres include role-playing games (RPG), fantasy simulators, player versus player battles (PvP) and much more.

The GALA token is the Gala Games platform’s own useful token. It is used as the main unit of account in the entire Gala Games ecosystem and is a financial incentive that rewards a decentralized network of nodes responsible for ensuring network security. In addition, the GALA token is required to purchase digital goods and in-game items.

ENJ – Enjin

Enjin is an Ethereum-compatible software package for creating and managing digital goods on the blockchain. The goal of the project is to minimize friction for game developers and at the same time reduce commission fees and fraud for players and collectors of in-game assets.

Every digital collectible created with Enjin requires an ENJ token to purchase. In addition, blockchain game developers can take advantage of the Enjin Software Development Kit (SDK).

SLP – Axie Infinity

In the battle and adventure modes of the Axie Infinity game, players can earn Smooth Love Potion (SLP) tokens by participating in fights and completing daily tasks. SLP tokens allow players to breed new axis.

Players can withdraw their first set of axis by paying 100 SLP. However, this price increases with each dilution to a maximum amount of 2,100 SLP to avoid hyperinflation in the Axie Infinity in-game market. Moreover, SLP tokens are an important component of the “play to earn” (P2E) gaming model. They allow players to participate in GameFi scenarios and earn passive income using cryptocurrency.

WAXP – Wax Blockchain

Worldwide Asset eXchangeTM (WAX) is one of the most widely used NFT blockchain ecosystems. It offers a very convenient exchange of both virtual and physical collectibles. The platform boasts partnerships with big names from the world of sports, games and entertainment. These include collaborations with Topps Major League Baseball, the classic fighting game Street Fighter and a number of leading artists. In addition, WAX uses a unique type of NFT called vIRL NFTs. These innovative tokens offer dynamic application integration, marketing tools, and more.

The WAX token (WAXP) is required for chain management and betting. Instead of paying a transaction fee, players can use the WAXP token staking. This not only reduces the commission, but also accrues remuneration over time and increases the scarcity of the token. In addition, the WAXP token can be used to purchase NFT on the WAX NFT market.

UOS – Ultra

Ultra is a blockchain-based game development ecosystem where users can access a wide range of crypto games, media content, and decentralized applications (dApps) in one convenient location. The platform allows developers to easily implement advanced gaming features using a set of development tools. In addition, Ultra opens up new opportunities for the monetization of digital goods and content.

The native Ultra token (UOS) allows creators and developers to receive a higher percentage of the revenue generated by their games. It also allows payments to be made much faster than traditional methods, and users can earn UOS by participating in beta testing and other initiatives within the ecosystem.

JEWEL – DeFi Kingdoms

DeFi Kingdoms is a crypto game based on the Harmony ONE blockchain. It combines fantasy pixel art, a decentralized exchange (DEX), a liquidity pool and an NFT market. Players can earn JEWEL by participating in quests, providing DEX liquidity and betting, and exchanging rare NFT collectibles on the in-game market. DeFi Kingdoms benefits from high speed and low transaction fees.

In conclusion

If you are an avid gamer or a lover of cryptocurrencies, game tokens give you access to a completely new world of gaming economy and virtual experience. They allow players to earn income by participating in competitions and battles. In addition, some game tokens are required to purchase in-game items and collectibles.

In addition, many investors who are not related to the gaming sphere consider the leading gaming tokens by market capitalization as potential investment opportunities. Accordingly, many of the best gaming tokens are conveniently located in the list of the 100 best cryptocurrencies.

Moreover, some of the leading gaming tokens by market capitalization have demonstrated incredible price dynamics in recent months, providing access to virtual land ownership in the metaverse. Some of the largest companies and brands in the sector as a whole are embarking on the path of the metaverse. Thus, these tokens can take a prominent place in the development of the blockchain in the coming years.