16. Gaming & Metaverse cryptos

Wednesday 23rd February 2022

The top Gaming & Metaverse cryptos are AXS, ENJ, GALA, MANA and SAND.

What is metaverse?

The metaverse is a "parallel digital universe" where you can create your digital avatar and work, travel, learn, play, and party!

The best way to understand the Metaverse is by watching these movies - Ready Player One, Avatar, and Wreck-it Ralph.

The Metaverse is actually quite an old concept. My first experience with it was using "Second Life" in the early 2000s. The band "Duran Duran" performed a concert in the Second Life virtual world in 2006.

 

Mindmap on Metaverse

The top Gaming & Metaverse cryptos

According to me, the most important Gaming & Metaverse Cryptos for 2022 are:

  1. Axie Infinity (AXS)
  2. Enjin Coin (ENJ)
  3. Gala (GALA)
  4. Decentraland (MANA)
  5. The Sandbox (SAND) 

Axie Infinity (AXS)

Axie Infinity is a "battle game" where users battle their Axies (creatures or characters) in real-time. Each Axie is a unique ERC-721 non-fungible token (NFT).

Axie Infinity Shards (AXS) are ERC20 governance tokens in the Axie universe. AXS holders can claim rewards by:

  • staking tokens,
  • playing the game, and
  • participating in governance.

Players can also earn AXS by playing games and generating content.

Smooth Love Potions (SLP) are ERC20 tokens that can be earned by playing and can be used to breed new Axies.

 

Enjin Coin (ENJ)

Enjin Platform is a service that enables game developers to issue fungible and non-fungible assets as in-game Ethereum tokens. The Enjin marketplace enables the buying and selling of ERC-1155 assets.

Enjin Coin (ENJ) is an Ethereum-based cryptocurrency that backs the value of fungible and non-fungible tokens.

 

Gala (GALA)

Gala is a gaming platform that is partially owned and operated by its players. Players can earn GALA tokens by playing.

GALA is a "non-refundable utility token" that can be used as the medium of exchange between participants in the Gala Games ecosystem. It can also be used to influence what games Gala should develop.

 

Decentraland (MANA)

Decentraland is an Ethereum-based "virtual reality platform" where you can buy, build upon, and monetize plots of virtual land.

Decentraland uses 2 tokens - MANA and LAND.

MANA is an ERC-20 token that can be burned to acquire non-fungible ERC-721 LAND tokens. MANA tokens can be used to pay for avatars, wearables, names, etc. on the Decentraland marketplace.

 

The Sandbox (SAND)

The Sandbox is a blockchain-based metaverse (virtual world) with a "play-to-earn" model. Its native utility token is $SAND. The metaverse is made up of parcels of digital real-estate called LAND.

Players can build, own, and monetize gaming experiences using non-fungible tokens (NFTs) and $SAND. The digital assets created by players as NFTs can be integrated into games with The Sandbox Game Maker.