Crypto Games and Gaming Tokens Overview
In 2021, the crypto gaming scene has witnessed rapid growth. Ethereum, with its high transaction fees during the high network load and slower processing speed compared to some other chains, could only handle simple games. However, the emergence of new scalable blockchains has finally allowed for better gameplay and cost-efficiency.
Since games became more advanced, people started looking into purchasing gaming projects’ tokens as an investment. Besides, the trending play-to-earn model allows earning these tokens while casually completing game tasks.
Apart from industry veterans like Axie Infinity or Decentraland, there are quite a few promising projects to keep an eye on. We’ve gathered a selection of gaming tokens listed on HitBTC to keep you well-informed.
MOBOX MOMOverse (MBOX)
A free-to-play and play-to-earn MOMOverse features games such as NFT Farmer, Blockchain Brawler, Token Master, Trade Action, and MOMO: Tactical Party Slaye. It allows players to create their own NFTs and get rewarded for their creations. Players can use these assets across the entire ecosystem.
Players, developers, and collectors can benefit from the MOMOverse – you can either create the content yourself or use what other players have created.
The MBOX token is a native utility token of the MOMOverse that can be used for processing transactions via the NFT platform, staking, and as a governance voting tool.
Gala Games (GALA)
Simplicity is one of the main objectives of the Gala platform. Blockchain-based Gala has chosen to go with the simple game mechanics so that their players could use the platform with ease, without diving into the depth of technology.
By implementing NFTs, Gala allows players to verify and truly own their assets. Once you claim an item, it is up to you what to do with it next: use it in the game or trade it. Moreover, Gala’s concept suggests that players partially own and operate the platform. The platform’s Discord community actively participates in the games’ development. The current list of games includes Townstar, Fortified, Legacy, and others.
As for the GALA tokens, there are several ways to get and use them. Apart from buying GALA via exchanges, users can operate nodes and receive it as a reward. The easiest and, probably, most pleasant way to get them is by simply playing the games.
STARL Metaverse (STARL)
STARL calls itself a 3D social universe. Designed for gaming, trading, and collecting, it also encourages artistic expression. It is an ever-expanding space metaverse with a sophisticated virtual economy and NFT-powered ownership. Players can own a wide range of in-game items, from satellites to virtual real estate.
STARL is a utility token and the main Metaverse currency. It can be used to purchase virtual assets and NFTs at the marketplace, run upgrades, and book services in the STARL ecosystem. STARL can also be traded for other digital cryptocurrencies or fiat.
Ethereum-based Iluvium is an open-world RPG adventure game. It takes you on a journey across picturesque landscapes where you need to hunt and capture creatures called Illuvials. Captivating gameplay and well-delivered design contribute to an enjoyable gaming experience. Besides, Illuvium integrated the NFT tech and features zero gas fees for peer-to-peer trading with instant transactions.
Although you can earn ILV tokens by playing, you won’t need them for the game itself. Instead, you can use it for governance and getting passive income via liquidity mining and vault distributions. You can also purchase it via a few exchanges, but mind the price. Unlike other typical gaming tokens that cost a couple of dollars, the price of ILV is over $1,000.
Yield Guild Games (YGG)
YGG is a play-to-earn guild and global community that unites players of popular NFT-based games such as Axie Infinity, Iluvium, The Sandbox, League of Kingdoms, and others. In other words, YGG members profit by investing in gaming NFTs, used in virtual worlds and blockchain-based games and then renting or selling them to other players. YGG DAO participants can vote on the games they want to play and share the earnings.
Although the project is relatively new, it has a chance to become quite profitable in the long run, or at least while the NFT space continues to evolve.
Smooth Love Potion (SLP)
Axie Infinity players earn SLP when playing the game. Serving as a replacement for experience points, this ERC20 token is used for breeding Axies, the game’s main characters. Typically, you’ll need at least 100 SLP to start breeding, and the more tokens you spend, the higher your pet’s rank will be.
Although you can earn this token playing the game, it might take a while until you accumulate enough wealth to breed new creatures. Alternatively, you can buy them on the exchange and jump right into the game and breeding business. Considering the $300 average price of an Axie and the fact it can exceed $1 million, SLP might be a decent investment.
Ultra is a blockchain-based platform that aims to provide gamers and game developers with various services to increase the quality of their routines. Ultra is building an ecosystem where users can explore and play games, purchase and sell in-game items, watch live streams, interact with influencers, join contests, compete, and more.
Developers, in turn, can take advantage of various SDKs and blockchain tools, enhancing their products with new features and mechanics. Ultra boasts to be the first platform that lets third-party companies publish their apps, resembling app stores. This way, gamers and developers can find each other safely and effortlessly.
UOS is a native token of Ultra’s ecosystem that can buy everything on the platform, from games and items to ads for game developers. Ultra will accept traditional forms of payment such as Paypal and credit cards as well. The token is also meant for other purposes such as betting, donations, and more.
Vulcan Forged (PYR)
Vulcan Forged is a gaming studio, marketplace, as well as game incubator that features a variety of games, such as Berserk, Forge Arena, and others. The Vulcan Forged ecosystem includes VulcanVerse, an open-world fantasy MMORPG with NFT assets.
The blockchain-based VulcanVerse allows players to create personal adventures, look for NFTs, and fight with other players. Gamers can own and upgrade land parcels that come in the form of NFTs. By doing so, they reach a higher rank and get access to new features, tools, and collectible Vulcanites.
The platform’s native token PYR serves a few purposes, like marketplace settlement, staking, and in-game improvements.
At the end of the day, it is up to you to decide whether you want to bet on crypto gaming tokens. Just like every other investment, they aren’t risk-free. Thorough research prior to making any financial decisions is a must. In case you choose to give one of these tokens a try, you can easily purchase them at HitBTC.
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