10 GameFi Tokens to Hold in Q2 2022

10 GameFi Tokens to Hold in Q2 2022
10 GameFi Tokens to Hold in Q2 2022

GameFi, also known as blockchain gaming, boomed in 2021. That’s partly due to the rise of play-to-earn games, and technology has evolved to allow for better games.

The concept of play-to-earn games was pioneered by Axie Infinity (AXS), which has grown by more than 17,000% in the past year as millions of users log in to breed, fight and complete missions in this virtual world. However, the emergence of countless crypto projects makes it difficult to choose the most promising GameFi projects that deserve your attention.

In this article, we will be discussing the top ten GameFi tokens to hold in Q2 of 2022.

What is GameFi?

GameFi is a trending blockchain-based development that combines the power of gamification, cryptocurrencies, NFTs and blockchain technology. The reason many people venture into these games and leave traditional games is for financial gain.

10 Gamefi Tokens to Hold in Q2 2022

1. 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. The player community has a say in the kind of games they would like to see created on the Gala network.

2. Alien Worlds (TLM)

Alien Worlds is a game finance (GameFi) metaverse where gamers can earn rewards when they play games. Today, this platform operates on numerous blockchains, such as Ethereum and Binance Smart Chain (BSC). When players compete, they earn the platform’s native currency Trilium (TLM). Being a blockchain game, interested users can play games and mine NFT cards, which ultimately helps them earn money. When on Alien Worlds, you can participate in many activities, such as engaging in quests, mining NFTs, and competing with other players. This metaverse is spread over seven planets, and users can exchange non-fungible tokens and the native currency for cash. 

Ever since its creation, Alien Worlds have continued to attract more game players. Today, the relatively new platform has millions of gamefi players globally, making it one of the most played blockchain games in the crypto community.

3. Illuvium (ILV)

It is an open-world fantasy role-playing metaverse created on the Ethereum Blockchain. It is set to launch in Q2 2022 fully. 

The video game is the first AAA project among DeFi games. AAA classification signifies “high-budget, high-profile games typically produced and distributed by large, well-known publishers.”

Illuvium is expected to be in 3D with an open world. If the game lives up to its hype, it could also be one of the rare play-to-earn games that connect with traditional gamers.

The P2E enables players to earn $ILV rewards for winning contests and tournaments. $ILV hit an ATH of $1,925 in November 2021 but has been down 70%. 

However, Illuvium promises to be an interesting project. It has appeared on lists of the most anticipated games of the year.

4. Yield Guild Games (YGG)

Yield Guild Games (YGG) is a decentralised autonomous organisation (DAO) launched in July 2021. 

It has varieties of distinctive features. It invests in NFT assets and connects blockchain gamers worldwide. The guild generates revenue by renting/selling YGG-owned NFT assets. The platform also introduces yield farming to game economies while adding value to virtual worlds.

$YGG is the native cryptocurrency that powers the Yield Guild Games platform. The digital asset hit an all-time high of $11.50 in November 2021 but is down 78.55% from its apex at press time.

However, the project has made some groundbreaking collaborations in recent times. It has partnered with Civitas, MetalCore, Zom (Illuvium’s Lead Game Ambassador) and Nitro League in the past month. The next few months look great.

5. 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.

Its native digital coin, SAND, powers the Sandbox ecosystem. 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.

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.

6. Decentraland (MANA)

Decentraland is another crypto game where you can buy and sell virtual land and estates. This platform has many similarities to The Sandbox because both games allow you to create virtual experiences and monetise them. However, in Decentraland, you need 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.

7. 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.

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.

8. Enjin Coin (ENJ)

Enjin Coin is one of the best GameFi crypto tokens with 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 with 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.

At 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 make it one of the best utility tokens to invest in.

9. ApeCoin (APE)

ApeCoin is the governance token of one of the market-leading NFT projects, the Bored Ape Yacht Club. This collection features a selection of 9,999 NFTs, which depict images of Apes with unique attributes. Those who buy these BAYC NFTs have the option to claim Ape Tokens for free.

However, it is worth pointing out that a single BAYC NFT can set you back hundreds of thousands of dollars. Therefore, if you do not wish to invest in an NFT, you can also buy ApeCoin via popular cryptocurrency exchanges like eToro. The ApeCoin token is designed for both utility and governing purposes in the BAYC ecosystem.

Those who hold ApeCoins receive voting rights in the BAYC network. You will also be able to use this GameFi collection token to make purchases or gain access to exclusive events hosted by the BAYC platform. Aside from all this, you can also exchange these GameFi coins for fiat currency via third-party exchanges.

10. Immutable X (IMX)

To understand the role of Immutable X, one should first gain a grasp of the shortcomings of Ethereum. While most NFTs are built on the Ethereum blockchain, this network has some limitations regarding scalability, speed, and fees. Immutable X serves as a layer-2 scaling solution for NFTs on Ethereum and aims to solve these issues.

This platform offers instant trade confirmation and low gas fees for minting and trading NFTs. More importantly, Immutable X facilitates this without compromising the security of assets. Given the role of NFTs in the GameFi space, it is easy to see why Immutable X has emerged as one of the best crypto projects for high growth potential.

Its native token, IMX, serves as both a utility and governance coin within this ecosystem. The GameFi token is used to incentivise users on Immutable X and pay for transactions. Moreover, those who hold IMX coins can earn rewards through staking.