Key Takeaways:
- Discuss the prominence of gaming crypto tokens in the current market as Play-to-Earn game projects rise in stature.
- Check out the top crypto gaming token projects in the modern-day market and how they are crucial to their native games.
- Find out why developing a crypto token for gaming could be a feasible business venture in the long run.
The arrival of blockchain technology has impacted almost all digitalized industries, with gaming being no exception. While the initial narrative was to Give Power Back to the Player, the idea has not materialized fully yet, owing to poor planning and crypto volatility. However, this time around, the markets have been relatively calm, reviving the chances for crypto gaming token projects to supersede their Web2 predecessors. With the rise of technologies like artificial intelligence (AI), decentralized physical infrastructure networks (DePIN), virtual reality (VR), augmented reality (AR), and 5G communication, Web3 gaming could have the best time to soar up to new dimensions. This blog focuses on why crypto tokens for gaming are crucial in the Web3 space and the top projects that have been performing adorably in recent times.
The Importance of Gaming-based Crypto Tokens Currently
The rise of play-to-earn games based on blockchain technology has pushed the accelerator to divert from traditional gaming norms. The industry has grown so much that experts predict it will grow hundreds of times by the end of this decade. Tokens are an important facet in this industry, with all sorts of roles.
- Crypto tokens for games can be either fungible or non-fungible based on their application. For instance, in-game currencies can be fungible tokens, while assets used in the game can be created in the form of NFTs. Nevertheless, both of them come with immense value dictated by various factors internal and external to the gaming dApp.
- As Web3 games rely on blockchain technology to make them more beneficial to players, using crypto tokens makes absolute sense. These tokens provide players the capability to earn real monetary benefits, leading them to gain financially while feeling entertained pursuing their favorite activity. Who can forget how Axie Infinity saved numerous people’s livelihoods to an extent during the pandemic-enforced lockdown?
- Since these tokens are also immutable after launch, the chances of malicious breaches or cracked algorithms will dwindle. With each change reflecting on the blockchain, in-game trading activities will become more seamless while yielding game developers ample remuneration. Such transparency also increases confidence among gamers to play these games for a longer time.
Searching for an Experienced Token Development Company for Your Gaming Project?
Top Crypto Gaming Token Projects Worth Following
Today, there are hundreds of crypto games in existence with varying levels of success across all niches. Every single Play-to-Earn game comes with its own fungible and non-fungible tokens. While the values of NFTs depend on their uniqueness and demand among gamers, in-game cryptocurrencies attract a wider set of people, including gamers and traders. This section discusses the top crypto gaming token projects in the current market.
- $IMX (ImmutableX): ImmutableX is a layer-2 Web3 gaming solution based on Ethereum that provides its own infrastructure for games to be built and run. With its foundational layer on Ethereum, the solution has attracted numerous gamers and developers to create a thriving ecosystem that offers user-friendly and entertaining experiences.
- $FLOKI (Floki): Floki was created by the members of the popular meme coin Shiba Inu, and one of its utilities is a metaverse gaming platform called Valhalla. The Viking-themed game lets players conduct battles, raids, and farming practices to earn $FLOKI, which can be exchanged for other cryptocurrencies.
- $NOT (Notcoin): Notcoin is the crypto reward token from the currently viral Telegram-based game that lets users earn $NOT for tapping their screens, effectively mining these tokens on The Open Network. The game’s developers have hinted that the first set of products and offers will be revealed soon.
- $GALA (Gala): Gala is a layer-1 gaming ecosystem that allows developers to build crypto games using its own open-source technologies. The token has garnered popularity owing to it being offered as a reward to node operators. There are several P2E games on the ecosystem that have become revered among gamers.
- $BEAM (Beam): Beam is a Web3 gaming blockchain handled by the Merit Circle DAO that works as an Avalanche Subnet. The token lets holders participate in the network’s decision-making process, pay for on-chain transactions, and interact with the network’s smart contracts, leading to seamless gaming experiences.
- $AXS (Axie Infinity): Axie Infinity is the pioneer of P2E games, with $AXS letting players vote on governance decisions that decide how funds get spent. As you know, the game allows players to breed and battle with teams of virtual pets called Axies and earn various rewards. The game redefined the face of the crypto gaming industry during the onset of this decade.
Is Crypto Gaming Token Development a Feasible Business Opportunity?
If you look at the crypto market from the perspective of an expert onlooker, creating a P2E gaming token development venture would likely make little sense. However, research a bit more; you might have made the best business decision ever. While the crypto gaming industry is still a shadow of itself, the prospects are still sky-high, making it viable for aspiring entrepreneurs to build their own gaming ecosystems.
With numerous niches to explore and improvements in technology, the crypto gaming market could get a massive upgrade soon when the belief sets in among gamers and wider market participants. By launching a game based on NFTs and cryptocurrencies, business owners can multiply their revenue streams, which can include both digital and real-world aspects.
Conclusion
Therefore, we have explored the importance of tokens in the Web3 gaming industry with the list of top crypto gaming token projects to justify the factors. With giants in the traditional gaming industry embracing blockchain technology to bolster their projects, market experts predict a stupendous season ahead for the space. If you are someone looking to create a crypto gaming project with featureful tokens, now is the time to begin, as there is enough room available for unique projects that aim to benefit all stakeholders involved. To create powerful tokens, opt for an experienced crypto gaming token development company like ours that can assist you across the process. Connect with our experts today to plan your project!
