crypto gaming tokens

Gaming is one of the fastest-developing industries in the 21st century. From year to year, game studios fight for the attention of players all over the world and try to impress them with some breakthrough. Gamers are very eager to accept these changes as they greatly improve their gaming experiences and boost positive impressions. So, from the very beginning, it was obvious that the gaming industry would try to somehow benefit from the emerging power of blockchain technology.

Eventually, it did so and now we can enjoy a wide variety of titles based on the best blockchains. But what are the functions of tokens inside the environments of such games? Do they have any particular sense for people beyond the gaming industry? This is what we are going to find out in today’s review.

Introduction to crypto gaming tokens

The major thing we should understand in the 21st century is that virtual property has the same value as real one. It might be difficult to comprehend at first, but if you take a quick look at how we live today, you will understand that a great portion of your time you spend in the digital space. Social media is just the simplest example.

Thus, people who spend much time in the digital world value their in-game goods the same way as actual material possessions. This is what crypto gaming tokens are all about.

In simple words, crypto gaming tokens are special NFTs used within the game’s ecosystem for different purposes. What makes them so valuable are the utility cases, uniqueness, and ownership recorded and stored forever.

In the gaming world, NFTs might be used in the form of avatars or special capabilities of characters. Similar to real-life possessions, such assets can be bought, sold, and exchanged in accordance with the rules of the gaming environment.

Also, in gaming, crypto gaming tokens might be distributed to players as rewards for certain achievements, which can bring real financial value even in our world. So, let’s take a look at home crypto gaming tokens are used more specifically.

Utility of crypto gaming tokens

Let’s discover the use cases of gaming assets built on the capabilities of blockchains.

1. Recorded ownership

If you enjoy gaming one thing you need to remember is that any asset within the gaming ecosystem belongs to the development studio. Crypto tokens are the only exceptions due to the technical peculiarities of non-fungible tokens based on blockchains.

According to these peculiarities, your own right is recorded on a blockchain once and forever, meaning the game developer cannot change it or get rid of it whenever the company wants. This preserves your digital property from hacks and failures and ensures that the assets you earn or buy will belong to you only and only you will have the possibility to decide on how to manage them.

2. The opportunities to earn

Crypto gaming tokens aren’t just cute digital avatars — these are real assets that can be used to earn real money. The majority of blockchain games apply the play-to-earn concept. It works differently in different titles, but the thing is that when you earn a token as a reward, you can sell it for real money.

Also, blockchain games have tokens that are used as financial means within the gaming environment. These are cryptocurrencies that have specific utilities in different games. Their biggest advantage is that they are traded on cryptocurrency exchanges, meaning you can buy them even if you aren’t a gamer. Similar to other cryptocurrencies, they will provide good returns on your investments if they increase in price. This becomes possible when a certain blockchain game is becoming more popular with gamers, which increases the utility of a particular token. Use it to your own advantage!

3. Customer acquisition

Except for benefits for gamers, blockchain games have actual advantages for game developers. Unlike ordinary virtual titles, crypto games offer great transparency and safety to customers’ assets, which makes promotion much easier for game developers.

Best crypto gaming tokens to invest in for 2023

If you aren’t quite into online gaming and aren’t going to earn crypto tokens through the completion of in-game quests, you can buy cryptocurrencies on exchanges. Here we have three best gaming coins to invest in right now.

Axie infinity (AXS) 

This is one of the most well-established brands in this industry. The concept of the game is quite prosaic — a player fights virtual creatures and collects digital assets as rewards. These rewards can later be sold for real money or exchanged for other cryptocurrencies. Axies within that gaming ecosystem have different values but as for the utility token of the world, it’s currently traded at $8.59.

Decentraland (MANA) 

Decentraland isn’t just a game — it’s an entire metaverse where participants can create different pieces of digital content and earn from them. Everything within that ecosystem is powered by the MANA cryptocurrency, which is on the rise right now. You can buy it for $0.6125 to later benefit from its current increasing price trend.

Enjin Coin (ENJ)

The concept of Enjin is somewhat similar to Decentraland — it’s a decentralized ecosystem that helps to deal with digital content. Its utility token is called Enjin Coin and currently, it takes the 93rd rank in the list of biggest cryptocurrencies by market capitalization. If you are not enthusiastic about earning it through gaming, you can buy it for $0.4133.

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