Gaming tokens have gained attention and popularity in the cryptocurrency market because people have started to see earning potential after some of these tokens have appreciated substantially in recent months.
An example of this is Axie Infinity (AXS), which has seen more than 12,000% growth in value this year alone, according to data from Coinmarketcap. In addition, these platforms, such as Axie, have inaugurated a new form of interaction between players and games, viralizing the play-to-earn model, in which players earn cryptocurrencies for their interaction with the game.
According Wilton Gomes, financial operations analyst of BlueBenx, a Brazilian Bitcoin (BTC) and cryptocurrency company, one of the reasons for the success of game tokens is their democratic nature, since no need to play to invest.
“Knowing a little about each token and the games, it is possible to see a similarity between them, since they all basically consist of playing and winning for it. But since they are tokens, that is, assets with which you can speculate, the investor who does not If you are interested in playing, you can also take advantage of and invest in some of the gaming cryptocurrencies. The overvaluation of these assets in a short period of time is a point that also draws the market’s attention, “he explains.
According to Gomes, anyone can start investing in game tokens.
“Even those who are not used to investing can learn a little more about these assets. In addition to the possibility of playing on the platforms and winning from it, it is possible to invest in the main assets available on the exchanges. The point is that, when being an investment, it is necessary to align assertive strategies to avoid losses, “adds Wilton.
The analyst pointed to Cointelegraph 7 Gaming Tokens Investors Should Pay Attention To, including AXS. Check it out.
Axie Infinity (AXS)
Axie Infinity was launched in November 2020 and consists of a blockchain-based battle game, partially operated by the players themselves. Inspired by popular games like Pokémon, AXS allows its players to create, fight and trade creatures, which are non-fungible tokens known as “Axies”.
In 2021, AXS’s valuation so far has been 12,250%. One of the differentials of the asset is that it follows the play-to-earn concept.
GALA is a gaming NFT created in September 2020 that also follows the play-to-earn concept and has reached a valuation of 362.20%, according to information from Coinmarketcap.
Despite operating within a blockchain network, the game is open for other people to participate, even if they do not master the crypto jargon. On the platform, it is also possible for participants to create NFT-based games.
Alien Worlds (TLM)
Created in April 2021, Alien Worlds is also a token to consider. Since its launch, it has been rated over 66% and consists of a decentralized, non-fungible metaverse environment.
In this virtual world, players compete for scarce resources, such as Trilium (TLM), a cryptocurrency of the game itself to obtain the right on the existing planets.
My Neighbor Alice (ALICE)
ALICE is an NFT of the virtual game My Neighbor Alice created in March 2021, which has already seen a valuation of approximately 10,000%. Inspired by games like Animal Crossing, My Neighbor Alice is a building game in which participants can buy and own virtual islands and thus build objects in the game.
As a reward, players can exchange the ALICE asset.
The Descentraland metaverse was launched in September 2017 and is powered by the Ethereum (ETH) blockchain network. Allows players to buy plots to build their buildings.
Being a virtual reality space, the game allows its players to create and experiment with content and applications within the platform, as well as being able to win with the MANA token. In 2021 alone, the MANA token increased in value by 793.51%.
Like TLM, SAND (Sandbox) works through a decentralized platform combined with non-fungible tokens (NFT). Being one of the oldest, it was launched in December 2017 and this year it has gained a valuation of 1,780.34%.
Players can build and trade their assets in the virtual environment using the SAND currency.
Based on the Binance Smart Chain, it works as an NFT platform for players to create, play and earn MBOX tokens. One of the differentiating elements is that it combines Defi’s staking model, which allows obtaining an income by simply leaving the asset on the platform.
It was launched in April 2021 and has since achieved a valuation of approximately 124%.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Each investment and trade movement involves a risk, you must carry out your own research when making a decision.