Gaming has transformed overnight thanks to the advent of smartphones, blockchain technology, cryptocurrencies and NFTs. Also known as GameFi, blockchain gaming is the “in-thing” now. Empowered by technology, gaming is now at a whole new level. Games are now bigger and better.
These games are powered by digital coins or cryptocurrencies. Let’s have a look at the top five gaming cryptos:
1. Gala Games (GALA) – $0.2055
Launched by Eric Schiermeyer in 2019, Gala has redefined the world of gaming. Claiming to be the largest decentralized gaming platform in the world, Gala Games is powered by its digital utility tokens called GALA. It operates on the Ethereum blockchain and conforms to the ERC-20 standard. GALA tokens are cryptographically secured. It is used as a medium of exchange between users in the Gala games. The users have full control as to how they want to use the token. Users get the GALA token as per the points system, which runs for at least six hours in a cycle.
2. Yield Guild Games (YGG) – $2.79
This platform is structured as a decentralized autonomous organization (DAO), which allows players to earn yield. This is possible through investments in metaverse assets. It combines NFTs with DeFi to deliver an innovative new model of gaming. The platform incentivizes uses through a reward programme. It has its very own native token – Yield Guild Games or YGG token. This token can be used to gain access to exclusive content, attain token rewards, or just as a method of payment within the YGG network. Users can earn by staking their YGG tokens in any number of vaults, whereby each vault represents the token rewards.
3.Star Atlas (ATLAS) – $0.041
ATLAS is the in-game currency for Star Atlas. It is used as a unit of exchange for purchasing in-game assets such as equipment, raw materials, land, etc. Users deploy this token for the execution of operational requirements throughout the game. To pay for in-game purchases, players must have a certain amount of ATLAS tokens. Moreover, they have to carefully balance operational costs for crew, fuel, mining and vehicle repairs, etc.
4. Enjin (ENJ) – $1.61
This ERC-20 token is traded on the Ethereum blockchain. It integrates with games. Users can deploy the Enjin Coin as a currency or use it to purchase NFTs. Players can also use it like a dollar or gold brick to hold value. It is tradable but mainly used in games, NFTs and other digital case-uses. Users need to have an Ethereum wallet for storing this token and it has to be compatible with ERC-20 tokens.
5.Immutable X (IMX) – $2.80
IMX is the native token of the Immutable X protocol. Immutable was previously known as Fuel Games. According to Asia Crypto Today, Immutable X is an open-source protocol that provides users the opportunity to create and develop their decentralized applications (DApps). It boasts 600x more transactions per second. The Immutable X platform offers zero gas fees – up to the speed of 9,000 transactions per second. With IMX, users can create and distribute NFTs on a large scale.