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2021 has been full of twists and turns regarding Blockchain, especially about the Play-to-Earn model. Here is a debrief about the best 2021 Gaming Cryptocurrencies, and what to expect in 2022 with Play-to-Earn Gaming.
What are Gaming Cryptocurrencies ?
Gaming cryptocurrencies are the general term used in the Crypto community to describe decentralized video gaming and decentralized Applications (Dapps). Entirely running on a Cryptocurrency network, gaming cryptocurrencies are one of the most promising finance system globally, which benefits to both Developers and players. There are several ways to get these coins, such as purchasing them in exchanges, trading assets on blockchain games or participating in gaming cryptocurrencies communities (Giveaways, airdrops, etc..).
Benefits of Gaming Cryptocurrencies.
The nature of Blockchain technology allows you to quickly link profiles from one game to another. This will saves you a lot of time by eliminating the need to create different profiles for each game. That way, you can play from anywhere in the world without worrying about exchange rates or other related fees. It provides a currency that works for everyone and is perfect for games.
Instant and lower fees transactions.
During a game, you don’t want to waste your time letting the bank decide whether to approve the payment. You want the process to be as quick and painless as possible, and cryptocurrency is great for that. Transactions made to purchase in-game items cost less than older methods such as fiat currencies. With open market purchases, transaction costs are reduced and you can get everything at a lower price. Cryptocurrencies are much more efficient and faster because they remove intermediaries from the transaction process.
Security and Anonymity.
Most cryptocurrencies are designed with security in mind and add a layer of protection like a cryptocurrency hard wallet, which is one of the safest ways to make payments today. Blockchain plays an important role in cryptocurrency security and is the main reason why these assets are so popular.
You may want to read about the best 2021 Cryptocurrency wallets.
Service providers typically need to maintain an extensive record of customers using a central server. The provider needs to record data that contains all the information related to the deposits that the player has made so far. Some gaming and gambling websites have millions of players around the world. If this data is hacked, it can pose a serious security issue.
Moreover, credit card fraud is an ongoing problem in the world of digital finance. When a centralized database is compromised, it can seriously damage both the customer and the reputation of the gaming / gambling platform.
However, cryptocurrencies negate this potential security risk because they can only store the customer’s public key and the amount the customer has deposited. This means that hackers can only access the currencies used on your website, reducing the risk of security breaches. Even if they would get access to that data, thanks to the nature of blockchain technology, it would be very difficult to implement.
In addition, one of the great things about cryptocurrency is that it allows for unobtrusive transactions. Therefore, you do not reveal any personally identifiable information that can be traced back to you, and thanks to innovations in blockchain technology, it is almost impossible to trace these transactions back to you.
New ways to earn Cryptocurrencies.
Thanks to cryptocurrencies, there are actually greater possible income opportunities.
Learn-to-earn: Some learning programs such as Coinbase Earn or CoinMarketcap earn allow you earn cryptocurrencies while learning about specific coins.
Participate to Earn: Users are paid by the protocol for simply using it. For example, on a decentralized social media apps like Torum, users can earn tokens by posting, liking and sharing. In order to reward its users, networks need to get as much people as they can, so that it becomes more valuable.
Create to earn: Users can earn community tokens by creating artworks (via NFTs) and playlists (via companies like Audius).
Play-to-Earn: Last, but not least, the digital currency you were use to earn, like gold pieces in World of Warcraft or Credits in the Battlefield series have now a monetary value. Imagine all the hours you’ve spent playing video games in your life. You can now earn money with it, and it can become lucrative if you do it right.
Gaming Cryptocurrencies 2021 List.
The Well Established.
Below is a list of the most well-established and well-known gaming coins:
- Decentraland (MANA) – Current Price.
- Axie Infinity (AXS) – Current Price.
- The Sandbox (SAND) – Current Price.
- Gala (GALA) – Current Price.
- Enjin (ENJ) – Current Price.
Gaming Cryptocurrencies: High Potential.
Below is a list of the gaming cryptos that we believe are still relatively unknown for most people and have high growth potential in the coming months.
- Wax (WAX) – Current Price.
- Illuvium (ILV) – Current Price.
- Yield Guild Games (YGG) – Current Price.
- Star Atlas (ATLAS) – Current Price.
- Alien Worlds (TLM) – Current Price.
- Splinterlands (SPS) – Current Price.
- Gods Unchained (GODS) – Current Price.
Gaming Cryptocurrencies: Small Market Cap.
Below is a list of some small market caps gaming coins, this means that you can expect significant growth if they become popular.
- Binemon (BIN) – Current Price.
- Kaby Arena (KABY) – Current Price.
- Rune (RUNE) – Current Price.
- Tower (TOWER) – Current Price.
- Mist (MIST) – Current Price.
From those benefits, it’s easy to see that blockchain will be a turning point in the gaming industry. This will increase publishers and player revenue and participation in online games. However, it can only work if the people are supporting that transition, such as the community’s dislike about Ubisoft’s Nft announcement.
All coins and project listed up-there are non exhaustive, and as we all know, cryptocurrencies are a high volatility market. However, it’s helping us to better understand which gaming cryptocurrencies are popular and why, which could give an idea of what coin could explode in the future if it follows this past trend.
Disclaimer: All details found on this post, and more generally on this website (neverfomoagain.com) are for informational purposes only. I don’t provide any financial advices. Please, Do your own research before undertaking to any investment/trading actions.
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