For investors still wondering whether to buy crypto gaming coins, there are many reasons to invest in these crypto gambling unique digital assets. These are some of the reasons to consider gaming crypto as a worthy investment:
Growth of the Metaverse
Gaming cryptos play a significant role in the metaverse. Take, for example, Decentraland (MANA). Investors have a great opportunity to profit while the metaverse is still in its early stages. The potential for blockchain-based gaming platforms to power virtual reality has never been greater.
MANA, the largest metaverse-related cryptocurrency, still remains the best investment option for investors in the gaming sector.
More recently, Yuga Labs (makers of the Bored Ape Yacht Club NFT) acquired the rights of serial rival CryptoPunks and associate NFT project Meebits for an undisclosed amount. BAYC has since launched Apecoin which has launched the NFT fully into the metaverse ecosystem.
The project has since launched another successful NFT called, Otherside which sold out within hours of the launch. The BAYC team were able to sell each of the 55,000 Otherdeed NFTs for 305 ApeCoin, netting the project $320 million in the process.
- Institutional Funding
Due to the widespread adoption of blockchain technology in the gaming sector, crypto gaming platforms are attracting serious institutional funding. Some of the high ranking institutions that have invested in Decentraland real estate are Portion, an NFT auction house and marketplace; JP Morgan, Samsung and PriceWaterhouseCooper (PWC).
These institutional investors are leveraging the surrounding hype around NFTs and gaming cryptos to take a plunge into the growing decentralized economy.
- Secure Payments
Players can pay for in-game items using the platform’s native crypto assets. Each network token powers the blockchain network and is viable for transactions and all other respective activities.
Users aiming to tap into any particular blockchain-based gaming platform would need these tokens to successfully operate on it.
Take for instance the Decentraland ecosystem. The network features two native tokens; LAND an ERC-721 standard and MANA an ERC-20 token. LAND purchases are made using the MANA token and this is completed within minutes. All transactions are carried out without the interference of any third party.
Close rival The Sandbox also completes transactions using its utility token, SAND.
- In-game Utility
On a gaming platform, crypto gaming currencies are utilized for a variety of purposes. For instance, AXS which powers the Axie Infinity platform is used to vote on policies affecting the network. AXS holders are also able to vote on proposals on how the treasury funds should be used.
This shows strong deference to the community and encourages a more democratic and engaged body of users. Aside from earning while playing token holders generally have a voice in the future direction of a project and this is a crucial benefit.
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