2021 was the year a lot of people were introduced to the cryptocurrency world and we’re not just talking about Bitcoin and Ethereum, but altcoins like Dogecoin and Shiba Inu, as well as terms like non tokens. fungible (NFT) and the metaverse. As we head into 2022, there is a lot more to look forward to and one of those areas of crypto that is expected to flourish over the coming year is the world of Web 3.0 – also claimed to be the future of the Internet. This five-part series will help you better understand the expanding crypto space and its elements.
For 2022, I am bullish on 5 crypto sectors:
- Web 3.0
- Games and metaverse
- Public blockchains
- Decentralized finance (DeFi)
- Medium of exchange
In the previous edition, we covered the Best Web 3.0 Cryptos for 2022. Today, let’s talk about the Best Gaming and Metaverse Cryptos for 2022.
What is the metaverse?
The Metaverse is a “parallel digital universe” where you can create your digital avatar and work, travel, learn, play and party!
The best way to understand the Metaverse is to watch these movies – Ready Player One, Avatar, and Wreck-it Ralph.
The metaverse is actually a pretty old concept. My first experience with him was using “Second Life” in the early 2000s. The band Duran Duran performed in the virtual world of Second Life in 2006.
You can also check out this Metaverse mind map I created.
The best gaming and metaverse cryptos
In my opinion, the most important gaming and metaverse cryptos for 2022 are:
- Infinite Axis (AXS)
- Enjin Coin (ENJ)
- Gala (GALA)
- Decentralized (MANA)
- The sandbox (SAND)
The table below shows the main metrics of these cryptos as of January 7, 2022:
Source: CoinMarketCap.com (rounded)
Infinite Axis (AXS)
Axie Infinity is a “fighting game” where users fight their Axies (creatures or characters) in real time. Each Axie is a unique non-fungible ERC-721 (NFT) token.
Axie Infinity Shards (AXS) are ERC20 governance tokens in the Axie universe. AXS holders can claim rewards by throwing tokens, playing the game, and participating in governance. Players can also earn AXS by playing games and generating content.
Smooth Love Potions (SLP) are ERC20 tokens that can be earned by playing and can be used to raise new Axies.
Enjin Coin (ENJ)
Enjin Platform is a service that allows game developers to issue fungible and non-fungible assets in the form of Ethereum tokens in the game. The Enjin Marketplace allows the buying and selling of ERC-1155 assets.
Enjin Coin (ENJ) is an Ethereum-based cryptocurrency that supports the value of both fungible and non-fungible tokens.
Gala is a gaming platform owned and operated in part by its players. Players can earn GALA tokens by playing.
GALA is a “non-refundable utility token” that can be used as a medium of exchange between participants in the Gala Games ecosystem. It can also be used to influence which games Gala is expected to develop.
Decentraland is an Ethereum-based “virtual reality platform” where you can buy, build, and monetize virtual plots of land.
Decentraland uses 2 tokens – MANA and EARTH.
MANA is an ERC-20 token that can be etched to acquire non-fungible ERC-721 LAND tokens. MANA tokens can be used to pay for avatars, clothing, names, etc. in the Decentraland market.
The sandbox (SAND)
The sandbox is a blockchain-based metaverse (virtual world) with a ‘play to win’ model. Its native utility token is $ SAND. The metaverse is made up of digital real estate plots called LAND.
Players can create, own, and monetize gaming experiences using Non-Fungible Tokens (NFTs) and $ SAND. Digital assets created by players as NFT can be integrated into games with The Sandbox Game Maker.
Next edition: The best public blockchains
Rohas Nagpal is the author of the Future Money Playbook and the chief blockchain architect at the Wrapped Asset Project. He is also a retired amateur boxer and hacker. You can follow him on LinkedIn.
Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting Founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.
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