Gaming token : the use of blockchains is becoming common in the world of video games. Cryptogaming is a game that mixes video games and cryptocurrencies
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Video games allow us to collaborate to tell interactive stories that cross international boundaries. Constantly evolving, video games have recently entered a new era: the era of blockchain, NFTs and play-to-earn.
Gaming tokens have become an industry worth hundreds of millions of dollars.
Cryptogaming is a game that mixes video games and cryptocurrencies, with players being rewarded in cryptocurrency or NFT (Non Fungible Token) issued on the blockchain.
According to CoinMarketCap, a company that aggregates all the information related to the cryptocurrency market, there are more than 160 cryptocurrencies linked to games.
But who are the top 5 gaming cryptocurrencies of this week?
TOP 1 : APECOIN
ApeCoin is an ERC-20 governance and utility token used within the APE Ecosystem to empower and incentivize a decentralized community building at the forefront of web3.
ApeCoin holders govern themselves via the decentralized governance framework controlling the ApeCoin DAO, and vote on how the ApeCoin DAO Ecosystem Fund should be used. The APE Foundation administers proposals agreed upon by ApeCoin holders.
At the time of writing, ApeCoin price is $12.11 USD with a 24-hour trading volume of $713,349,222 USD. ApeCoin is down 6.95% in the last 24 hours. The current CoinMarketCap ranking is #33, with a live market cap of $3,448,549,123 USD. It has a circulating supply of 284,843,750 APE coins and a max. supply of 1,000,000,000 APE coins.
TOP 2 : DECENTRALAND (MANA)
Decentraland (MANA) defines itself as a virtual reality platform powered by the Ethereum blockchain that allows users to create, experience, and monetize content and applications.
In this virtual world, users purchase plots of land that they can later navigate, build upon and monetize.
Decentraland was launched following a $24 million initial coin offering (ICO) that was conducted in 2017. The virtual world launched its closed beta in 2019 and opened to the public in February 2020. Since then, users have created a wide range of experiences on their parcels of LAND, including interactive games, sprawling 3D scenes and a variety of other interactive experiences.
At the time of writing, Decentraland price is $1.37 USD with a 24-hour trading volume of $235,150,467 USD. Decentraland is down 4.15% in the last 24 hours. The current CoinMarketCap ranking is #39, with a live market cap of $2,529,104,461 USD. It has a circulating supply of 1,844,097,805 MANA coins and the max. supply is not available.
TOP 3 : THE SANDBOX
Launched in 2011 by Pixowl, The Sandbox is a blockchain-based virtual world allowing users to create, build, buy and sell digital assets in the form of a game. By combining the powers of decentralized autonomous organizations (DAO) and non-fungible tokens (NFTs), the Sandbox creates a decentralized platform for a thriving gaming community.
According to the official whitepaper, the Sandbox platform’s main mission is to introduce blockchain technology in mainstream gaming successfully. The platform focuses on facilitating a creative “play-to-earn” model, which allows users to be both creators and gamers simultaneously. The Sandbox employs the powers of blockchain technology by introducing the SAND utility token, which facilitates transactions on the platform.
At the time of writing, The Sandbox price is $1.99 USD with a 24-hour trading volume of $342,004,421 USD. The Sandbox is down 1.91% in the last 24 hours. The current CoinMarketCap ranking is #40, with a live market cap of $2,446,809,982 USD. It has a circulating supply of 1,227,539,778 SAND coins and a max. supply of 3,000,000,000 SAND coins.
TOP 4 : AXIE INFINITY
Axie Infinity is a blockchain-based trading and battling game that is partially owned and operated by its players.
Inspired by popular games like Pokémon and Tamagotchi, Axie Infinity allows players to collect, breed, raise, battle and trade token-based creatures known as Axies.
These Axies can take various forms, and there are more than 500 different body parts available, including aquatic, beast, bird, bug, plant and reptile parts. Parts from each type class come in four different rarity scales: common, rare, ultra rare and legendary — and Axies can have any combination of body parts, making them highly variable and often rare and unique.
Each Axie is a non-fungible token (NFT) with different attributes and strengths and can be entered into 3v3 battles, with the winning team earning more experience (exp) points that are used to level up an Axie’s stats or evolve their body parts. These Axies can be bred together to produce new and unique offspring, which can be used or sold on the Axie marketplace.
At the time of writing, Axie Infinity price is $30.72 USD with a 24-hour trading volume of $394,735,949 USD. Axie Infinity is up 6.50% in the last 24 hours. The current CoinMarketCap ranking is #46, with a live market cap of $1,871,098,314 USD. It has a circulating supply of 60,907,500 AXS coins and a max. supply of 270,000,000 AXS coins.
TOP 5 : STEPN
STEPN is a self-styled “Web3 lifestyle app” with GameFi elements on the Solana blockchain. It combines aspects of a play-to-earn game with a fitness app to create a new category coined “move-to-earn.” Users buy NFT sneakers, which they can use to earn in-game currency while walking, running, or jogging.
STEPN aims to revolutionize the market of fitness applications by incentivizing millions of users to follow a healthier lifestyle. The app solves several problems like “proof of movement” – proving that users really exercised – and a functioning GPS system. Moreover, STEPN incentivizes users financially and plans to introduce social rewards elements and successfully contributes to carbon neutrality.
The application is available for Android and iOS and has gone from its inception stage to the open beta version in only five months. After its successful IDO in March 2022, STEPN plans to optimize its in-game features and launch on several other chains in the future.
At the time of writing, STEPN price is $2.68 USD with a 24-hour trading volume of $1,703,865,576 USD. STEPN is down 4.17% in the last 24 hours. The current CoinMarketCap ranking is #52, with a live market cap of $1,605,840,376 USD. It has a circulating supply of 600,000,000 GMT coins and a max. supply of 6,000,000,000 GMT coins.