Top 5 GameFi tokens to buy in 2022
As blockchain based gaming platforms are growing in popularity, they have opened up a new spectrum of investment options in the crypto space. Let’s take a look into the top 5 GameFi platforms.
5. Axie Infinity
Inspired by Pokémon, Axie Infinity is one of the most popular games on the blockchain right now. The games lets players buy, trade and battle with creatures called ‘Axies’ against other Axies.
The game rose to prominence during the Covid-19 pandemic when people turned to play-to-earn games as a way to make passive income. Axie Infinity lets players earn the AXS tokens by completing various challenges within the game. The tokens can be used to make in-game purchases and can also be swapped for fiat currency.
Since its launch in 2020, AXS token has increased its value by 20,000%, making Axie Infinity one of the fastest growing game-fi platforms in the industry.
Launched in 2018, Enjin is a blockchain based software development platform crypto-games, digital wallets and NFT projects are built upon.
Recently the platform announced a partnership with Final Fantasy developer Square Enix to create NFTs for the popular game franchise.
To earn Enjin tokens, users must stake game tokens built on the ecosystem into Enjin smart contracts. This will create backing for the game tokens and reward users with Enjin tokens.
Since its launch, the Enjin platform has grown by 5,500% in valuation. The versatility and functionality of the eco-system is what makes Enjin one of the best utility tokens to invest in.
3. The Sandbox
The Sandbox was released as a mobile game in 2012, since then the game has grown into one of the most popular metaverse platforms in the world.
Built on the Ethereum network, Sandbox players can purchase virtual land and other in-game digital items using the platform’s SAND tokens. Players can create unique experiences such as games and events in the virtual plots they own.
Additionally those who stake SAND tokens will be eligible to assist in the governance of The Sandbox network. The metaverse has recently amassed a long list of brand and celebrity endorsements, which includes Playboy, Snoop Dogg, Katy Perry, Justin Timberlake, Will Smith and more.
Decentraland is another metaverse GameFi platform built on the Ethereum network where players can purchase virtual land and create unique in-game experiences.
Players can construct structures, play games, conduct events and implement digital tourism in the metaverse. MANA acts as the governance token for the ecosystem that can be used to buy and trade in-game digital items. The MANA token has seen a growth of 5,500% since its launch in 2018, reaching an all-time high of $5 in November 2021.
Recently, Decentraland announced a 2-year partnership with NBA superstar Stephen Curry to release NFTs on the metaverse. Dubai based CBI bank opened its first virtual branch in Decentraland.
1. Immutable X
While most NFT games are built on Ethereum, the network does have few limitations when it comes to scalability, transaction speeds and gas fees.
Immutable X was developed as a Layer-2 scaling solution for the Ethereum network. The platform facilitates faster transactions and lower gas fees for minting and trading in-game NFTs built on Ethereum. Immutable X provides these features without compromising security of the digital assets.
IMX is the governance token of Immutable X. The token is used to incentivize users of the network and also acts as a payment token for purchasing game NFTs over the network. IMX tokens can also be staked to earn more rewards.
American video game retail giant GameStop partnered with Immutable X to develop their new NFT collection and marketplace.
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