Cryptocurrencies, meme tokens and games – this is of course a laid-up thing. Anyone who has already immersed themselves in virtual reality will find it all the easier to accept digital money.
There are a few starting points for how the blockchain can be integrated into the world of games. However, the leading heads of the gaming industry are not yet in complete agreement as to where the journey will lead.
The most obvious way to incorporate cryptocurrencies into games is to simply translate previous purchase options from fiat to crypto. In other words, users can buy a certain cryptocurrency for Fiat, which can then be used in a game and entitles them to buy certain assets (such as weapons, equipment…).
This mechanic can be transferred to play-to-earn models. Here the objects of desire cannot simply be bought with money or cryptos (meme tokens), but want to be earned in the game.
NFTs offer a variant – regardless of whether it is a purchase or via in-game earnings: They enable gamers to buy not just any useful tool, but THE property, THE designer outfit, THE yacht. So not one of its kind, but a very specific one-off, which is of course all the more coveted and can be traded like in the world outside.
As a reminder: NFTs not only make it possible to make a digital element uncopyable (Bitcoin & Co. already do that) but also assign it to an owner as a unique item.
And then finally there is an aspect in the meta-level of the game for some crypto assets. For example, some gaming tokens entitle the holders to have a say in how the game should develop.
The umbrella term “gaming tokens” was formed from these different types of applications of crypto technology as in-game currencies. The special feature: they can also be traded outside of the games on crypto exchanges and sometimes show considerable price movements – which can also be anti-cyclical to the classic top cryptocurrencies. Needless to say, these game “currencies” represent highly speculative assets.
Here are the most interesting gaming tokens in 2022:
Decentraland | MANA
The VR game Decentraland extends on the Ethereum blockchain. With the game’s own currency MANA you can not only buy land, but also all kinds of other goods. You can even create your own dApps in this virtual environment. The users and MANA (or LAND) hodlers decide on the future of the game in the Decentraland DAO (decentralized autonomous organization).
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Axe Infinity | AXS
In this Pokemon-inspired game, Axies are little animals that you have to collect, raise, trade or fight. Each Axie corresponds to an ERC-271 NFT, so the game is also Ethereum blockchain-based. Rare axes achieve values of several hundred ETH, in the summer of 2021 little animal #991 was for sale for 5,000 ETH.
The Sandbox | SAND
The name says it all: The Sandbox is a gaming environment in which blockchain-based digital assets can be created and traded using DAO with the ingredients NFTs and play-to-earn. The currency in this area is the SAND.
Gala | GALA
Gala Games is in the process of establishing a gaming platform for several blockchain games with a common currency, the GALA. Here, too, NFTs can be owned and the fortunes of the Gala Games ecosystem can be actively shaped. One of the people behind Gala Games is Eric Schiermeyer, one of the leading minds of the well-known game manufacturer Zynga (Mafia Wars!).
Enjin Coin | ENJ
In the Enjin Network, a social gaming platform, developers can create websites, “clans” and virtual shops. The content and products can be tokenized in this environment, traded with the Enjin Coin based on the Ethereum ERC-20 token.
Shiba Inu | SHIB
Shiba-Inu? That’s a meme token! Completely correct! However, Shiba Inu has launched its own Shiba Inu Games division in order to get into the game business boldly. Australia’s largest games developer, PlaySide Studios, has already been brought on board. An NFT trading card game with 10,000 “Shiboshis” based on Shiba Inus is probably being targeted.