10 Best Web 3.0 Gaming Coins to Invest: A Step-by-Step Guide
The video game industry reached a staggering $455.3 billion, yet gamers often saw little direct benefit. However, Web3 gaming, powered by blockchain technology, is changing the game – literally. It empowers players with true ownership of in-game assets and unlocks real earning potential.
While the broader crypto market might experience fluctuations, Web3 gaming investments surged in Q1 2024.
Ready to join the Web3 gaming revolution? Here’s your roadmap:
Top Web3 Gaming Coins & Tokens to Explore:
- Axie Infinity (AXS): A popular play-to-earn game with cute, collectible creatures.
- The Sandbox (SAND): Build and monetize voxel creations in this virtual world.
- Decentraland (MANA): Own land, create experiences, and participate in a thriving metaverse.
- Enjin Coin (ENJ): A platform for creating and managing blockchain-based in-game items.
- Gala Games (GALA): Earn rewards by playing a growing library of blockchain-powered games.
- Immutable X (IMX): A solution for scaling NFT trading in Web3 games.
- Ultra (UOS): A cloud-based platform for game distribution and in-game item trading.
- WAX (WAXP): A high-speed blockchain focused on online games and virtual items.
- Chromia (CHR): Build and deploy high-performance blockchain games.
- Illuvium (ILV): An open-world RPG featuring collectible creatures and exciting battles.
Essential Tools for Your Web3 Gaming Journey:
- Cryptocurrency Exchange: Buy and sell your crypto. Popular options include Coinbase, Binance, and Kraken.
- Cryptocurrency Wallet: Securely store your crypto. Top choices include MetaMask, Ledger (hardware wallet), and Trezor (hardware wallet).
- Market Research Tools: Stay informed. Utilize platforms like CoinMarketCap, CoinGecko, and Messari to research cryptocurrencies, track price history, and analyze market capitalization.
Earning While Playing: The Rise of Play-to-Earn
The rise of play-to-earn games is a game-changer. Players can not only enjoy themselves but also potentially generate income through various mechanics:
- In-game rewards: Earn tokens by completing quests, winning battles, or participating in the game’s economy.
- NFT ownership: Own unique in-game items (NFTs) and sell or trade them on marketplaces.
- Staking: Earn passive income by locking up your tokens in a specific game or platform.
Please note that this is a new and evolving space. It’s really important to do your homework before you invest and to never put more money in than you can afford to lose.
1. Axie Infinity (AXS)
Axie Infinity is a popular play-to-earn game where players breed, raise, battle, and trade digital pets called Axies. Recently, it introduced Daily Bounty Boards, encouraging daily engagement through quests like praying to AA, rolling fortune slips, and winning battles in Origins and Classic modes.
Completing quests earns points contributing to a weekly 10,000 AXS prize pool.
AXS, the governance token, allows holders to influence game decisions, earn rewards through staking, and collect SLP tokens used for breeding Axies. Players can earn by playing the game, breeding and selling valuable Axies, and staking AXS.
To start, players need three Axies, a Ronin Wallet, and an initial investment of around $64 for a competitive team.
2. The Sandbox (SAND)
The Sandbox and its utility token, SAND, are at the forefront of virtual worlds and the metaverse. SAND powers The Sandbox, a platform where users can create, own, and monetize virtual experiences and land. Key features include buying virtual land (LAND) to develop interactive experiences, creating and selling NFTs, and earning SAND rewards through user-generated games.
The platform revolves around a marketplace, VoxEdit for asset creation, and GameMaker for game design. In 2022, The Sandbox expanded to Polygon for faster and cheaper transactions. SAND also functions as a governance token and can be staked for passive income.
While facing competition, SAND’s potential is promising with estimates suggesting it could reach $2.5 to $3.9 during the next bull run.
3. Decentraland (MANA)
Decentraland (MANA) remains a significant player in the virtual world arena, but faces challenges that require strategic analysis. Similar to The Sandbox, Decentraland is a decentralized virtual world powered by MANA, its native token. Users can buy plots of LAND (digital real estate) to develop interactive experiences, fostering communities and generating revenue.
MANA powers the in-game economy of Decentraland, enabling users to purchase wearables and other NFTs for use within the virtual world.
There are various earning opportunities within the Decentraland ecosystem, including LAND investment, NFT creation, and marketplace participation. MANA’s potential within this ecosystem is extensive, providing numerous ways for users to engage and benefit financially.
4. Enjin Coin (ENJ)
Enjin Coin (ENJ) remains a foundational element within the NFT gaming ecosystem, providing infrastructure for creating secure and tradable in-game NFTs across various games. As the play-to-earn market flourishes, the demand for ENJ to create in-game assets is likely to rise, potentially increasing its value.
However, ENJ has struggled to maintain its initial hype, with waning market interest and a competitive landscape. Regaining its past glory requires robust marketing and development efforts to attract new users and developers.
While a well-executed strategy could propel ENJ towards $4, a more realistic expectation, given current conditions, suggests a price range of $1 to $2. Investing in ENJ now might present a valuable entry point if the project can deliver on these improvements.
5. Gala Games (GALA)
GALA is the lifeblood of Gala Games, a blockchain gaming platform that empowers players by allowing them to truly own in-game items and NFTs. Players can potentially trade these assets for GALA or other cryptocurrencies, creating a new level of engagement and potential income.
Multiple ways to earn GALA include play-to-earn rewards, node ownership for passive income, and governance voting rights.
While experiencing price fluctuations, Gala Games shows potential for growth, with strong buying pressure and a solid foundation. Gala Games’ unique approach to player ownership, diverse game library, and community governance sets it apart in the gaming industry, making it a noteworthy player in the evolving world of blockchain gaming.
6. Immutable X (IMX)
Immutable X has seen explosive growth in 2024, with its token (IMX) price surging over 220%, reflecting the growing adoption as a key infrastructure provider for creating, developing, and managing NFTs, particularly within the booming play-to-earn gaming sector. Leveraging StarkNet zk-rollup technology, Immutable X delivers unmatched scalability, near-instant transactions, and minimal fees.
It prioritizes user experience, offering intuitive tools and simplified wallets, removing barriers to entry for traditional gamers. Immutable X streamlines blockchain integration, enables unparalleled throughput of 9,000 NFTs per second and enhances visibility for minted NFTs on popular marketplaces.
Holding IMX tokens or participating in IMX-powered games can potentially benefit from its growth as a robust, user-friendly foundation for building NFT-powered experiences and becoming a cornerstone of the play-to-earn gaming revolution.
7. Ultra (UOS)
UOS remains the lifeblood of Ultra, a constantly evolving platform designed as a one-stop shop for gamers and developers, offering features like digital distribution, cloud streaming, and in-game item marketplaces. Ultra is strengthening its position in the play-to-earn (P2E) space by introducing multiple revenue streams, including earning rewards through P2E games, buying/selling NFTs on the Ultra Marketplace, and more.
Exciting developments planned for Ultra include an enhanced game library, exclusive titles, early access opportunities, streamlined game distribution, web-based access, platform redesign, seamless sign-up, unique in-game items, open blockchain, Ultra API, ecosystem grants, and enhanced features for Ultra Arena.
Ultra is also committed to tokenomic improvements and a staking program to incentivize user participation and foster ecosystem growth.
8. WAX (WAXP)
WAX (Worldwide Asset eXchange) is a blockchain platform designed for the secure and efficient trade of virtual goods, catering specifically to the gaming world. It enables users to create their own virtual marketplaces for buying and selling in-game assets and collectibles. With a focus on virtual goods, decentralized marketplace, high transaction speed, and scalability, WAX aims to provide a secure and efficient platform for trading digital assets.
The platform is backed by an experienced team with a proven track record in virtual item trading through OPSkins. The native WAXP token facilitates transactions and fees on the WAX blockchain. WAX fosters a community-driven ecosystem and incentivizes creators and developers, positioning itself for potential growth in the increasingly popular virtual items and play-to-earn gaming markets.
9. Chromia (CHR)
Chromia (CHR) is a Layer-1 blockchain platform designed for high-performance decentralized applications (dApps), particularly complex games. It offers faster transaction speeds, improved scalability, and dedicated blockchains for each dApp, managed by designated nodes using the PBFT consensus mechanism. Chromia’s innovative relational blockchain structure provides flexibility and consistency similar to traditional databases.
In September 2020, recognizing Chromia’s potential, a strategic investment was made in CHR tokens at a price slightly below $0.05. This recent purchase further strengthens the position in the Chromia ecosystem. CHR derives value from its various functionalities within the ecosystem, such as paying hosting fees, backing tokens, facilitating transactions, and staking. Its demand is driven by applications and users, making it a compelling investment for those interested in blockchain gaming and high-performance dApps.
10. Illuvium (ILV)
ILV is the native token of Illuvium, an open-world RPG adventure on the Ethereum blockchain, offering immersive gameplay, triple-A quality visuals, and multiple earning opportunities. Players can earn ILV tokens through engaging gameplay, trading unique creatures (Illuvials) on the marketplace, and staking tokens for passive income.
Backed by an experienced team and a passionate community, Illuvium leverages cutting-edge blockchain tech for privacy and fast, fee-less transactions.
With its official release expected in this year, ILV holds high growth potential, positioning itself as a frontrunner in the play-to-earn revolution, boasting robust fundamentals and exciting possibilities for both gamers and investors.
The gaming industry is rapidly evolving, and Web 3.0 gaming coins present an exciting opportunity for investors to capitalize on this growing market. While the potential rewards are substantial, it’s crucial to conduct thorough research, diversify your portfolio, and stay informed about market trends. Will you seize this chance to be part of the Web 3.0 gaming revolution and potentially reap significant returns?
