The post Find Out The Best Crypto Coins for Gaming appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
Gaming has evolved through the years. There was a time when gaming at home was a “Plug and Play” experience where you sit down, power up your home console and play through the session.
Fast forward to 2021, with the advancement of blockchain technology, gaming now translates to earning opportunities through the play-to-earn model.
As specialized website NFTEvening puts it, when we combine NFT and Gaming, a unique economy on ownership and universally recognized value is fostered through stake on ownership.
So if you want to participate in the biggest NFT segment that’s taking the world by storm then this article is for you. We’re listing down the biggest crypto coins for gaming that you should consider
Axie Infinity Shards (AXS)
AXS is now the largest gaming cryptocurrency on the market. AXS holders have a vote in the governance of Axie Infinity’s ecosystem and can also use it to get a share of the community treasury.
Two weeks ago, Sky Mavis officially launched the long-awaited AXS Staking feature of Axie Infinity. Basically, staking allows users to lock up the AXS they moved to the Ronin sidechain in order to earn AXS rewards.
Sky Mavis simultaneously airdropped 800,000 AXS ($60M) to roughly 10,000 players who were active before Oct 26, 2020.
Without the staking tools, this much new AXS entering the economy would’ve caused a sharp price decline, but instead, the price has stayed strong above $70 and just hit $150 as of press time.
One week post-launch of the AXS Staking, Axie Infinity’s active wallet interactions got a major boost! The dominant play-to-earn attracted 92% more user wallets.
AXS was initially just a governance token but with the staking option available, users can now earn passive income as well from these tokens.
As of press time, users have staked a total of 16.6 Million AXS, which is equivalent to almost $2 Billion with today’s price. Meanwhile, the price action is also on the upside.
AXS was trailing along with $75 per token before the rollout but now the price is $122 and at some point peaked at over $150.
Through AXS, people can bet on the Axie ecosystem without actually participating in it. This is quite tricky because speculators can move the price in the direction that suits them.
Right now, that direction is “up,” but they could just as easily crash the price when they take profits at the top.
Smooth Love Potions (SPS)
Basically, SLP is the in-game currency of Axie Infinity that runs the game. Every time a player wins a duel, they are rewarded in $SLP. It has no cap and is used to breed new Axies.
The game burns SLP every time players breed Axies. Players breed in order to produce offspring with special abilities that make them more powerful. They can also aim for other characteristics that are desirable to other collectors.
In Axie Infinity, the income typically comes in the form of Smooth Love Potion (SLP). Players need to complete and enter quests, arena mode and adventure mode in order to earn SLPs.
Players can choose between three daily quests. They can claim a fixed 50 SLP every day by finishing all the quests. To complete daily quests, players need to do 3 things.
The first is to do daily check-ins. Then, complete 10 Adventure mode levels. Finally, win 5 arena matches. Since quests include adventure mode and arena matches, there would be additional rewards in completing daily quests.
Arena mode is where players battle it out against each other according to their rating or trophies. The higher the trophies, the more experienced players a player would likely go against.
The lower the trophies, the less experienced players a player would likely go against. This is similar to many other PvP (Player vs. Player) games.
Finally, the third option is the adventure mode which is the more casual area of playing Axie Infinity. Players go up against bots disguised as Monsters, not Axies.
It is the easiest and most passive way to earn SLP since players can continuously earn and win. In turn, it creates a reliable stream of SLP.
In general, experienced players find arena mode more valuable because winning against higher-ranked players yields higher SLP Rewards.
For beginners, the adventure mode would be easier and reliable for earning an income for SLP. It has no time limit, meaning that there is an unlimited thinking time, unlike arena mode which ranges between 30 seconds to 1 minute.
Splintershards is the governance token of the Next Generation of Blockchain Collectible Card Game – Splinterlands. This can be compared to Axie Infinity Shards (AXS) of Axie Infinity, another top NFT game on the market.
As a governance token, the main utility of SPS is to give players and NFT holders a voice in the project’s future development.
Furthermore, they can stake SPS to earn more which can be traded to DEC that players can use on the game. Additionally, the team is also planning to create liquidity pools so SPS can be traded in the future on various platforms like Binance, Ethereum, Hive Engine, and others.
Decentraland is a completely decentralized virtual world where you can buy, build, and sell digital real estate, artworks, or NFTs. You can do all this by playing games and interacting with various activities in the virtual world.
Ultimately, Decentraland, in its own words, is a social experience where you interact with people in the community. The platform is community-owned and built on the Ethereum blockchain.
MANA is Decentraland’s cryptocurrency and has a fixed supply. As it’s an ERC-20 token (fungible token), it can be bought and traded on crypto exchanges like Binance and Huobi Global or even “stacked” on DEX (decentralized exchange) like Uniswap or Sushiswap.
In the metaverse, it can be used to pay for LAND, avatar, accessories, collectibles, or gaming, and more.
Meanwhile, you can also lock your MANA in a WMANA contract, giving rise to wrapped MANA. This wrapped MANA will be “locked”, meaning you can’t spend or transfer it.
Enjin Coin (Enj)
Enjin is specifically aimed at NFT gaming and has been designed to help developers achieve their blockchain game goals.
Although just one side of the sector, this includes the development of popular titles linked to the ecosystem, many with play-to-earn mechanisms.
These include Azure Heroes, Age of Rust, Lost Relic, and The Six Dragons.
To give an idea as to the scale of the platform, there are currently 42,000 traders working on Enjin. Between them, they lay claim to 800,000 assets.
Suffice to say, once things have hit this kind of size we should expect the market value of the platform — and any associated currency — to climb.
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