What is Crypto Gaming? Top Gaming Crypto Coins To Earn
Enthusiasm for virtual games has been on the rise with each passing year. With the emergence of advanced technology, the gaming industry has seen unprecedented growth in recent years. Riding on the availability of fast internet, high-performance digital devices, and blockchain technology, the gaming industry has seen radical changes across the world. Developers and creators are using advanced tools to provide a metaverse experience to the users.
The gamers are also offered exciting rewards for winning the games. Including traditional fiat currencies such as the U.S Dollar, EUR, and YEN, now with the advent of an NFT-based gaming ecosystem, game lovers can earn rewards in the form of cryptocurrencies which can be converted into fiat currencies and transferred to a traditional bank account.
In this blog post, we will give you a rundown of the top gaming crypto coins that will help you earn real money, before that let us first understand crypto gaming and its pros and cons.
What is Crypto Gaming?
Although playing a virtual game or earning money from playing an online game is not a new phenomenon, cryptocurrency has created a new world of opportunities for gamers to earn crypto money in the form of rewards while playing virtual games online. Backed by blockchain technology, the online games are linked with a virtual world of the crypto economy, wherein players can earn non-fungible tokens (NFTs) or cryptocurrencies which can also be withdrawn and converted into fiat money. Some games allow the players to exchange their tokens for stablecoins on one of the crypto exchanges where they can be sold, traded, or converted to a fiat currency.
Pros and Cons of Crypto Gaming
Below pros and cons that must be considered while opting for crypto gaming:
Pros of Crypto Gaming
- Opportunity to earn real money
- Promotes adoption of blockchain technology
- Beneficials to both gamers and developers
- No middleman involved
- Decentralized gaming
Cons of Crypto Gaming
- Gaming focuses on earning instead of fun
- The high price of entry
- Highly volatile and risk of loss of money
- Involvement in Illegal and criminal activities
- Cancellation or refund problem
- Risk of hackers and scams
Best Gaming Crypto 2022
The advanced scalability solutions for blockchain technology-based platforms have paved the way for the rise of crypto and NFT-based gaming built on a virtual platform such as metaverse platforms.
Pick one of the top gaming crypto coins from the below list to earn real money:
Decentraland is a virtual world built on the Ethereum blockchain where users can create various applications including marketplaces, and games. Users can purchase a virtual plot of land on Decentraland. Users can play and create games on the platform. The Decentraland ecosystem has three native tokens including MANA, LAND, and Estate which are used for making payments across the Decentraland network.
MANA can be used as a virtual currency to buy Decentraland NFTs or can be exchanged for other in-game goods and services. The virtual platform is governed through Decentraland DAO (decentralized autonomous organization), which is one of the best crypto games to earn real money in 2022. Being a leading crypto gaming platform, it has a market cap of more than INR 143 billion.
As one of the top gaming crypto coins, Sandbox is an Ethereum blockchain-based metaverse and gaming ecosystem. Where users can create, buy and sell digital applications and games. Launched by Pixoul in 2011 as a digital platform for the gaming community. The market capitalization of Sandbox is Rs 127 billion. Governed by decentralized autonomous organizations (DAO), Sandbox uses non-fungible tokens (NFTs) to reward users. The platform uses Sandbox (SAND) tokens to make transaction payments and buy digital assets in the virtual world. SAND has a market cap of $1,284,599,662 USD, which makes it a widely used gaming crypto coin in the industry.
Launched in March 2022, ApeCoin (APE) is a cryptocurrency to be used for buying assets on the metaverse ecosystem built on Yuga Labs. Affiliated with Bored Ape Yacht Club (BAYC), the coin was released after Yuga Labs acquired CryptoPunks, an NFT collectible marketplace. The Bored Ape Yacht Club is a collection of non-fungible tokens (NFTs) built on the Ethereum blockchain. The project aims to bring NFT momentum into the gaming industry. Being one of the most valuable top gaming crypto coins, ApeCoin (APE) has a market cap of INR 177 billion. ApeCoin (APE) is also used by third-party games to issue rewards to players.
Of late, cryptocurrencies powered with non-fungible tokens (NFTs), blockchain technology, metaverse, and decentralized autonomous organizations (DAOs), have transformed the gaming industry drastically. The global online gaming industry has seen greater advancements in recent times owing to the spread of blockchain technology and cryptocurrencies. Game enthusiasts are offered world-class games with a metaverse-like virtual world to make the experience astounding. You can enhance your knowledge with online resources to know the best crypto coins to watch out for and earn attractive rewards waiting for you.