The term GameFi is a conflation of two words – game and finance. Put simply, it’s the financialization of video games. In other words, these blockchain games allow players to earn rewards in cryptocurrencies and non-fungible tokens.
Now, GameFi tokens essentially earn items as in-game cryptocurrency. Depending on the specific game you choose, the best GameFi coins also have different use cases.
You can use the best GameFi crypto tokens to:
- Buy in-game assets such as characters, weapons, crops, and other tools
- Gain access to in-game contests, tournaments, and virtual locations
- Take part in the governance of GameFi platforms
These GameFi coins can be acquired by completing challenges or goals within a game. Alternatively, you will also be able to purchase the best GameFi crypto tokens via popular cryptocurrency exchanges like eToro.
In this article we will be discussing the 10 GameFi Crypto tokens to buy in 2022
10 GameFi Crypto Tokens to Buy in 2022
1. Decentraland (MANA)
Decentraland is a crypto game in which you can buy and sell virtual land and estates. This platform has many similarities to The Sandbox, in the sense that both games allow you to create virtual experiences and monetize them. However, in Decentraland, you need to have MANA tokens to purchase land parcels.
On top of this, Decentraland users can also make structures on their virtual land, play games, have showcases, or implement digital tourism. And importantly, MANA tokens function as the core currency within this ecosystem – facilitating all kinds of transactions. Moreover, this ERC-20 token also serves as the governance coin for Decentraland.
MANA/USDT Daily Chart, Source: CoinMarketCap
That being said, Decentraland has also experienced some volatility over the past 12 months. Although the price of MANA tokens hit an all-time high of around $5 in November 2021, its value has dropped since. Nevertheless, this coin has witnessed a growth of around 5,500% in value from the time of its launch in 2018.
2. The Sandbox (SAND)
The Sandbox was first launched as a mobile game way back in 2012. Over time, this play to earn game has emerged as one of the most popular platforms in the GameFi market. Within The Sandbox metaverse, you can own plots of virtual land and create your own experiences.
The Sandbox ecosystem is powered by its native digital coin, SAND. The GameFi coin has different functions within this network. First and foremost, you can use SAND tokens to make in-game purchases of LAND NFTs and other digital items.
SAND/USDT Daily Chart, Source: CoinMarketCap
In addition to this, those who stake their SAND tokens are also eligible to assist in the governance of The Sandbox network. The Sandbox metaverse has amassed a long list of celebrity endorsements, including partnerships with Snoop Dogg and investments from Justin Timberlake, Katy Perry, Will Smith, and more.
In other words, the platform is hugely popular and continues its stride in attracting more users every day.
3. Axie Infinity (AXS)
If you consider the most popular crypto games in the market right now, Axie Infinity is up there with the very best. This play to earn game was inspired by Pokemon, and lets players buy, trade, and battle creatures called Axies. These Axies come in the form of NFTs, with their own unique traits and rarity.
Axie Infinity rose to fame during the COVID-19 pandemic when people started spending time on crypto games as a way to make passive income. The main draw of Axie Infinity is that you can earn AXS tokens by completing challenges within the game. As one of the best GameFi crypto tokens, AXS has demonstrated incredible growth in the blockchain market.
AXS/USDT Daily Chart, Source: CoinMarketCap
Since its launch in late 2020, the value of this GameFi coin has increased by nearly 20,000%. Apart from using AXS tokens to make in-game purchases, you can also swap these GameFi coins for fiat currency via crypto exchanges. This means that you need not even play Axie Infinity in order to profit from the growth of AXS tokens.
4. Enjin Coin (ENJ)
Enjin Coin is one of the best GameFi crypto tokens in terms of growth potential in the coming years. The company behind this cryptocurrency offers a suite of integrated products that facilitate the creation and launch of NFT projects. This way, Enjin plays a key role in the GameFi ecosystem and the growth of the NFT sector.
The Enjin platform provides developers access to software development kits, game plugins, crypto wallets, and payment solutions. When using Enjin to earn digital assets, you must lock tokens into a smart contract. This way, Enjin is used to directly back the value of non-fungible tokens created within the Enjin ecosystem.
ENJ/USDT Daily Chart, Source: CoinMarketCap
At the time of its launch in 2018, Enjin Coin was priced at $0.017. Within four years, the price of Enjin Coin has increased to over $1 per token – translating to a gain of more than 5,500%. This cryptocurrency’s versatility and functionality makes it one of the best utility tokens to invest in right now.
5. Gala (GALA)
Gala is a blockchain-based crypto gaming platform that lets users earn GALA tokens for completing challenges and achieving other milestones. As a player, you can also use GALA coins to purchase in-game NFTs. Outside this gaming ecosystem, it is possible to trade GALA tokens for other cryptocurrencies, or fiat money.
Gala is also unique in its business model. This crypto game intends to allow its players to become proactive partners and partake in the decision-making process. In fact, the player community has a say in the kind of games they would like to see created on the Gala network.
GALA/USDT Daily Chart, Source: CoinMarketCap
GALA saw its price soar to its all-time-high value of about $0.70 in November 2021. However, since then, this GameFi crypto coin has witnessed heavy volatility. Despite this, this crypto project demonstrates plenty of room for growth and could be a valuable addition to your portfolio.
6. Yield Guild Games (YGG)
The next option on our list is Yield Guide Games, otherwise known as YGG. This is a decentralized platform that gives you access to NFTs used in different crypto games, such as The Sandbox and Decentraland. In other words, you can use this marketplace to rent NFTs rather than having to buy them.
Moreover, it is also possible to lend and sell NFTs to other users via this platform. For instance, if you have any Axies, the NFT creatures of the game Axie Infinity, you can sell or rent them out to other players through YGG. As with the majority of GameFi projects, those who hold YGG tokens obtain rights to participate in the governance of this platform.
YGG/USDT Daily Chart, Source: CoinMarketCap
The platform was inspired by the demand for GameFi collections and NFTs in the Philippines. During the pandemic, games such as Axie Infinity had become the main source of income for many players in the country. The launch of Yield Guild Game helped players to start their GameFi journey without having to make a significant investment.
7. Illuvium (ILV)
Illuvium is one of many new NFT projects set to launch in 2022. This role-playing game is built on two different layers of blockchain, Ethereum and Immutable X. This integration helps improve the scalability and performance of this gaming platform.
As with other crypto games and NFT games, Illuvium has launched its own native token to power its ecosystem. It combines NFTs, a virtual world, as well as other in-game experiences to attract users. It has NFT creatures called Illuvials; however, unlike Axie Infinity, this game will be in 3D and will feature a story mode.
ILV/USDT Daily Chart, Source: CoinMarketCap
Moreover, if you sign up as an early member, Illuvium also gives you exclusive access to rare NFTs. Due to these unique features, Illuvial is one of the most anticipated games of this year. If the game lives up to its hype, the value of the Illuvium GameFi coin could also increase in the future.
8. Star Atlas (ATLAS)
Star Atlas is a multiplayer online game that is played in the virtual gaming metaverse. The game, which is part strategy, combines different genres. This requires players to develop tactical plans of action to interact with other factions. The fundamental gameplay pillars are deep space exploration, combat, and building space stations and ships.
Star Atlas and the Sandbox formed a collaboration to revolutionize game interoperability between Ethereum and Solana. The collaboration will give rise to the Star Atlas Vox Edit contest, giving players the opportunity to act as envoys from the Sandbox.
ATLAS/USDT Daily Chart, Source: CoinMarketCap
The envoys will visit one of the three main galactic functions in the Star Atlas metaverse – ONI, Ustur and MUD. There, they will create reports on what they find. They will create the report by designing a portrait of one of the faction’s inhabitants, using the Sandbox’s free VoxEdit software.
Star Atlas positions its token, ATLAS, as one of the best crypto gaming coins available. The ATLAS crypto asset currently trades at $0.5, with a market cap of $11 million.
9. Gods Unchained (GODS)
Gods Unchained is a free to play a tactical card game that gives players ownership of their in-game items. GODS, the game’s token, makes the list of the top crypto gaming coins on the market.
The game focuses on competitive play, requiring players to outsmart their opponents by building decks that are able to combat other tactics.
GODS/USDT Daily Chart, Source: CoinMarketCap
GODS, an ERC20 token, is the native token asset of the ecosystem used to create NFTs, make in-game purchases, and distribute rewards.
Gods Unchained has released a series of brand new powerful trading cards available on the Gods Unchained store. The Mortal Judgement cards pack offers players powerful tools to master their gameplay and outsmart foes.
With the Mortal Judgement cards, players are given new creatures. These creatures are linked to the cards and are equipped with the power to control the game.
GODS has been on a bearish movement in the last few weeks and is currently trading sideways at the price of $0.4. The GODs gaming coin has a market cap value of $17 million.
10. ApeCoin (APE)
The last on our list of 10 GameFi crypto to buy in 2022 is ApeCoin. APE is an ERC20 governance and utility token used to manage the Apecoin ecosystem. The crypto asset ranks as one of the top crypto gaming coins and was created to incentivise and empower the decentralised community.
ApeCoin holders have a decentralised Autonomous Organization (DAO) that controls the ecosystem and votes on how the ecosystem should be used. The DAO was created to build and maintain the ecosystem in an inclusive manner, as well as provide infrastructure for ApeCoin holders to collaborate.
APE/USDT Daily Chart, Source: CoinMarketCap
Launching in mid March 2022, this asset is also new to the crypto markets like Lucky Block. Over the last few days, the Ethereum-based governance token made substantial surges in the market. This build-up is due to the recent announcement from OpenSea, the world’s largest NFT marketplace by trading volume.
OpenSea announced that ApeCoin will now be accepted as a form of payment. The NFT marketplace used to only accept ETH but has now opened its payment gateway to APE holders.
Following the announcement, the crypto asset pumped over $27 in April 28th. ApeCoin is volatile and has now retraced to the $12-$17 area, with a market cap valued around $4 billion. It’s also possible to earn interest on ApeCoin while you hold it, which helps keep your portfolio stable during price volatility.
Conclusion
The rapid development of the GameFi sector is impressive, and this trend is set to continue over the coming years. The ability to own in-game assets and earn cryptocurrencies makes GameFi platforms an attractive investment sector.
Our guide points out some of the best GameFi crypto tokens to consider right now. The list includes popular gaming coins such as MANA, SAND, AXS, and Enjin, which facilitate the growth of NFT platforms.
