Blockchain technology is gradually infiltrating the world’s major industries, starting with finance and working its way through e-commerce, banking, real estate and more.
Entertainment, and gaming in particular, is a major candidate for blockchain integration, being an area that already heavily utilizes virtual currencies and transactions.
With crypto and gaming both fostering enormous global communities, this trend is very much on the rise. As a result, we have identified some of the best gaming crypto coins available in 2024, with Sponge V2, 5th Scape and Green Bitcoin standing out as particularly attractive options.
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Our picks of the best gaming crypto coins in 2024
With blockchain technology fast infiltrating the gaming sector, there are already countless projects to choose from.
We’ve narrowed things down with the picks below.
- Sponge V2: The second edition of the hugely popular, 100x meme coin from 2023. The new version brings a built-in play-to-earn racing game, in which users can spend and earn $SPONGE tokens
- 5th Scape: A project fusing the worlds of cryptocurrency and virtual reality (VR) technology. This is a fully-fledged VR ecosystem with proprietary equipment such as a headset and chair.
- Green Bitcoin: New ERC-20 token claiming to be 10,000 times less energy-intensive than Bitcoin. The project allows users to stake tokens and guess the price of Bitcoin for reward bonuses of up to 100%.
- eTukTuk: Blockchain project aiming to solve the problem of carbon-intensive transport in the Eastern world through a fleet of electric Tuk-Tuks and a Crazy Taxi-style game.
- Decentraland: Metaverse project allowing users to buy and sell virtual ‘land’ using MANA, its proprietary token.
- The Sandbox: Similar to Decentraland, this project allows users to own and trade pieces of themed, virtual worlds, which are minted as NFTs.
- Axie Infinity: Similar to classic franchises like Pokemon, Axie Infinity allows users to acquire, train, and battle virtual creatures called ‘Axies’.
A closer look at the top gaming tokens in 2024
Here is a closer look at our seven best gaming crypto coins, complete with the background, features, advantages and drawbacks of each project.
1. Sponge V2 (SPONGE): The return of a hugely popular meme coin with a play-to-earn racer game added
Sponge took the meme coin world by storm in 2023, soaring to a 100x price increase and earning a market capitalization of $100m.
After running out of steam slightly towards the end of 2023, the project is back in 2024 with Sponge V2, this time bringing additional utility in the form of a play-to-earn game.
Described by the developers as a “wacky” P2E racer, the game will allow users to play against other community members using popular cartoon characters, such as those from Spongebob Squarepants.
Crucially, the game will add utility to the $SPONGE token by allowing holders to purchase in-game credits, which can be used to participate. Doing so will in turn enable them to earn additional tokens.
With the project still in stage one of its roadmap, the game is still in its ‘research’ phase. The development will begin in stage two, with the help of the funds raised during the presale. In stage three, the game will fully launch via an app.
Visit Sponge V2
2. 5th Scape (5SCAPE): Crypto gaming project paired with full VR ecosystem
5th Scape is the first outright gaming token on this list. The project is entirely based around a virtual reality ecosystem, with users able to play games, watch movies, consume educational content, and more.
At the heart of the project is $5SCAPE, a native token with a fixed supply of 5.2 billion. Operating on the Ethereum chain, the token can be used to buy entry to a range of digital experiences, in addition to discounts on all products.
The project also promises to bring a line of proprietary tech, including a VR headset with “cutting edge visuals” and a gaming chair “tailored for extended VR sessions”. However, potential investors should be wary that 5th Scape has not yet provided an update on when these items are due to launch, or how much they will cost.
With the number of augmented and virtual reality users expected to reach 3.6 billion by 2028, 5th Scape has entered a thriving and highly profitable market.
Visit 5th Scape
3. Green Bitcoin (GBTC): Up to 100% rewards on offer for ‘Gamified Green Staking’
Green Bitcoin is a new cryptocurrency project with two key purposes: sustainability and gamification.
According to the developers, the Ethereum blockchain’ proof-of-stake consensus mechanism makes this token 10,000 times more energy efficient than Bitcoin, reducing its energy consumption to virtually zero.
The project also brings a play-to-earn element, with what the developers call ‘gamified green staking’. With this feature, users have the opportunity to earn up to 100% in staking rewards by participating in weekly prediction games, such as correctly guessing the price of Bitcoin.
With over $4m raised, the project’s presale phase is currently approaching its end, with phase two of the roadmap due to bring the rollout of the gaming features.
In phase three, $GBTC will hit decentralized exchanges, while step four will bring a range of new price prediction challenges.
The reward pool allocated to staking rewards is 5.8 million tokens, representing 27.5% of the supply.
Visit Green Bitcoin
4. eTukTuk (TUK): Sustainable transport revolution in developing countries
A unique crypto project, eTukTuk’s mission is to bring a “sustainable transport revolution” to developing nations, replacing carbon-intensive Tuk-Tuks with electronic ‘eTukTuks’.
At the core of this mission is the project’s very own tech and infrastructure, with plans to develop and manufacture a fleet of 6,000 vehicles and a network of 200 charging points.
The project brings a native BEP-20 token, $TUK, which is designed to power the entire ecosystem. Not only is it intended to bring long-term rewards for holders, but it will also be a form of payment for drivers at the charging stations, saving them upwards of 400%.
The project also promises to bring a Crazy-Taxi-style play-to-earn game, in which players will be challenged to pick up and drop off passengers within a time limit to earn rewards.
eTukTuk’s initial launch will be in Sri Lanka, with the second and third countries due to be unveiled in the final phase of the project’s roadmap.
Visit eTukTuk
5. Decentraland (MANA): Gamified virtual real estate
Another Ethereum-powered virtual reality project, Decentraland brings a computer-generated world split into segments that can be bought and sold.
Decentraland’s virtual world, ‘Genesis City’, is made up of ‘LAND’ parcels, which can be owned, rented and sold in exchange for $MANA, the project’s native currency.
Aside from being exchanged for LAND, $MANA is eligible to be used across the entire Decentraland ecosystem. For instance, items such as in-game wearables and creative services such as professional development studios are available for purchase.
The unique and engaging concept behind Decentraland has clearly resonated, with the project raising $24m in 2017 in one of the best crypto ICOs of all time. The $MANA token also went on to surpass $5 in 2021, despite launching at just $0.025.
Despite crashing throughout 2022, the token has rebounded during the past year, up by nearly 25%. It also boasts a market capitalization of close to $1.5m. And sits comfortably in the top 100 cryptocurrencies on the market.
6. The Sandbox (SAND): Metaverse gaming platform based on user-generated content
Like Decentraland, The Sandbox is a blockchain-based metaverse platform, encouraging the creation of virtual environments and the exchange of LAND.
The Sandbox, as the name suggests, leans more in the direction of popular titles such as Roblox, encouraging user-generated content and creativity. By comparison, Decentraland is more focused on gaming.
$SAND, the project’s native ERC-20 token, powers the ecosystem, being used to buy virtual avatars and elements called ‘ASSETS’. ASSETS are generated through ERC-115 smart contracts, and can be both fungible and non-fungible.
The Sandbox saw huge upticks in value following its launch, soaring to an all-time high of $8.44 in November 2021, despite launching at just $0.04 around a year earlier.
Like Decentraland, $SAND has dipped in recent years, but appears to be on the rise again, surging by more than 50% between February and March 2024.
Ranked #69 in CoinMarketCap’s top-100 crypto coins list, the project it boasts a market capitalization of $1.6bn, with more than 2.2 billion tokens in circulation.
7. Axie Infinity (AXS): Pokemon-esq avatars with more than $4bn in NFT revenue
Among CoinMarketCap’s top-10 gaming tokens and the largest project on this list by market capitalization, Axie Infinity is widely recognized as a leading force in the world of GameFi.
In a nutshell, the project revolves around Axies, a series of collectible, Pokemon-like characters. Players can buy and sell any of the millions of Axies available on the platform.
Axis can be collected, bred, battled, and used to earn further assets that can be traded on the platform’s internal marketplace. According to the developers, an Axie was once sold for a record-breaking $820,000.
The project is home to two virtual currencies – Axie Infinity Shards (or AXS), and Smooth Love Potion (SLP). The former is the official native currency of the game, while the latter is a reward token.
In addition to being recognized as a leader in NFT gaming, Axie Infinity is also thought to be the pioneer of play-to-earn gaming in the crypto space. In February 2024, it passed the $4bn milestone for NFT revenue.
Benefits of online crypto gaming
- Huge market potential: With the blockchain gaming sector forecast to be worth $614bn by 2028, the area is clearly fast-growing, presenting a prime opportunity for investors to participate in the relatively early stages.
- True ownership: For those more accustomed to traditional gaming, the element of true asset ownership will be a welcome departure. Digital add-ons purchased via the Steam, Playstation and Nintendo stores, for instance, are purely digital and can never be truly owned.
- Entertainment: Though a more simplistic point, the fact is that the combination of gaming and blockchain technology adds a level of intrigue and engagement that can’t be matched simple digital currency project. With the gaming market growing year on year, this element is likely to lead much broader audiences into the crypto space.
Risks of online crypto gaming
- Smart contracts: While highly intelligent and efficient, smart contracts are becoming more vulnerable as their complexity increases. They can be challenging to modify, with even a slight tweak potentially opening the door to exploitation by hackers.
- Highly ambitious: GameFi projects are becoming increasingly ambitious in scale and concept, with many pitching physical infrastructure projects and proprietary hardware. This will make delivery exceptionally difficult, and sometimes impossible.
- Quality: Those expecting the high-fidelity experiences of triple-A video game franchises may find themselves disappointed. Blockchain-based games are often low-budget and low-quality, with the primary purpose being to stimulate the economy of the native currency.
FAQs
Which is the best gaming crypto?
With its combination of utility and track-record of success, our vote for the best gaming crypto in 2024 goes to Sponge V2.
What are GameFi coins?
GameFi coins are the native currencies of blockchain-based video game projects. The currencies are typically used to purchase in-game items and add-ons, and are often used as a reward for completing certain tasks and challenges within the game.
What is the largest gaming crypto?
With a market capitalization of $1.6bn and NFT revenues exceeding $4bn, Axie Infinity is the largest gaming crypto on the market.
References
- https://www.statista.com/outlook/amo/ar-vr/worldwide#:~:text=in%20the%20world%2C%20the%20number,increase%20to%2055.9%25%20by%202028.
- https://coinmarketcap.com/coins
- https://finance.yahoo.com/news/21-8-cagr-blockchain-gaming-111000853.html#:~:text=Pune%2C%20India%2C%20Dec.,21.8%25%20during%20the%20forecast%20period.
