GameFi, sometimes known as play-to-earn, combines gaming with blockchain-based financing. Following the rise of the metaverse and non-fungible tokens (NFTs), many investors are looking for the top GameFi cryptocurrency to invest in.
This review discusses the top play-to-earn (P2E) assets based on their price performance, potential utilities and fundamentals.
1. Decentraland (MANA)
Decentraland leads our list of top GameFi cryptocurrency to invest in. The asset is a fully decentralised virtual world in which users own virtual things. MANA is the token for Decentraland and may be used to purchase products, services, and land in the virtual world.
The virtual world promotes creative digital ownership concepts and includes online museums where users may exhibit non-fungible digital art pieces (NFTs).
At press time, MANA is trading at $2.273, with a 9.0% increase in the last day. The digital asset is ranked 31st in the global crypto market, with a fully diluted market cap of $4.9 billion.
The Ethereum-based protocol is currently struggling with the bears as the current price sits below the 20-day moving average support (MA) price of $2.677. However, this is only a short term bearish stint as the digital token is trading well above the 200-day MA support price of $1.8
Tennis Australia and Decentraland have collaborated to host the Australian Open (AO). This will be the first time a tennis grand slam has been recorded in the Metaverse.
The partnership will allow for the virtual reproduction of iconic Melbourne Park features like the Rod Laver Arena and Grand Slam Park.
2. Axie Infinity (AXS)
AXS is the governance token for the Axie Infinity ecosystem and another top Gamefi cryptocurrency to invest in.
Axie Infinity is a famous blockchain game based on the popular Pokemon video game franchise. It is an open-ended, immensely customisable gameplay structure that allows users to gather various digital creatures known as Axies, which may be grown, used for battles with other in-game characters, and sold within the Axie ecosystem.
At the time of writing, AXS price is pegged at $51.934. The ERC-20 token’s current price is indicative of a 1.16% price gain in the last day. The digital asset’s market capitalisation also experienced a 1.49% price increase settling in at $14 billion.
Sky Mavis has introduced a new Axie Infinity release option that allows Axie users to burn their NFTs. Burning is more commonly linked with bitcoin, although it isn’t a completely new phenomenon in the world of NFTs.
The most well-known burns in crypto include Shiba Inu burns, Ethereum burns, and Binance quarterly burns.
The Axie Infinity burns – or releases – differ from the typical token or currency burns in that they include extra features that reward players with new things.
3. The Sandbox (SAND)
Our review will be incomplete without mentioning The Sandbox as one of the Gamefi cryptocurrency to invest in. The asset is one of the most important actors in the metaverse ecosystem,
The Sandbox has witnessed a significant increase in funding and the current price of the digital asset is $3.7964, up 7.84% from the previous day.
The virtual gaming platform made headlines when the Sandbox blockchain system auctioned virtual real estate for a large sum of money.
Snoop Dogg, a well-known American rapper, was one of the people who bought land on the Sandbox metaverse. Following last year’s success with the protocol, the Sandbox partnered with Hong Kong partners to create a metaverse megacity.
These partners have already purchased land in the Sandbox metaverse and vowed to create one-of-a-kind experiences in the megacity. Film, music, entertainment, acting, banking, real estate, and gaming are among the Hong Kong partners’ fields of expertise.
The digital asset is on a bearish streak, allowing investors to buy SAND at a discount and rise with the market. At press time, SAND is trading at $3.2, up 6.59% in the last 24 hours.
4. Star Atlas (ATLAS)
Star Atlas is an online massively multiplayer game set in a virtual gaming metaverse. It’s being made with Unreal Engine 5, which means the project will come with cinematic-quality real-time environments.
Star Atlas is set in 2620, in a futuristic science fiction world where three major factions have developed and are fighting for resources and control: humanity, an alliance of extraterrestrial species, and sentient androids.
The game incorporates a variety of genres. It involves some strategy because you must devise tactical plans of action for interacting with other players and factions. Exploration is a big part of it because the game has a lot of stars for you to explore and exploit.
Currently, ATLAS is trading at $0.049, with a market cap value of $1.71 billion, up 11.37% in the last day. Despite the bearish nature of the digital asset, investors can buy this coin and enjoy future gains.
5. Gala (GALA)
GALA tokens are currently in a tussle with the bears as the asset trades below the 20-day moving average support price of $0.28075. The asset price is pegged at $0.21686 and has experienced a 16.38% increase in the last day. GALA’s 24-hour trading volume is set at $536 million, with a 3.36% increase in the past 24 hours.
Gala is a gaming platform where players own and run a portion of the company. By playing, players may earn GALA tokens. GALA is a “non-refundable utility token” that may be used as a means of exchange among Gala Games ecosystem members. It may also be utilised to impact Gala’s game development.
Gala Games and Ember Entertainment have teamed together to create a zombie survival blockchain game that will run on the Gala platform. Gala Games’ own GALA cryptocurrency is at the heart of the Gala ecosystem.
Gala has also revealed that each game will have its Token exclusive to that title. Although these tokens cannot be utilised within game worlds, they may be used to earn NFTs.
The game is still under production and will not be launched until later this year. Gamers will be able to swear their loyalty to other players for safety, according to the website.
Those who receive allegiance pledges will get stronger. Players may construct, forage, trade, assault, and, of course, kill any zombies they come across.