As we enter the second quarter of the year, we are seeing an uptrend of the market and many metaverse-related cryptocurrencies. How are the metaverse and blockchain gaming tokens doing? The ranking in this article is based on the data from CoinGecko. The values of the data may be different from the current value on their site because of the volatility of the market.
CoinGecko provides a fundamental analysis of the digital currency market. In addition to tracking price, volume, and market capitalization, CoinGecko tracks community growth, open source code development, major events, and on-chain metrics.
Axie Infinity AXS and SLP
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For sure, most readers are familiar with Axie Infinity. The AXS token is used as a governance token for the blockchain game and can also be used for breeding Axies with, aside from SLP, which is the uncapped utility token of the game. (Read BitPinas articles about Axie Infinity)
Governance tokens are used for voting within a decentralized autonomous organization (DAO) which gives the community a voice when a decision is needed to be done as an organization and not just a small group within the community.
Axie Infinity’s second token is SLP. This is a utility token that is awarded to players by winning in the Arena of Axie Infinity. This is used also for breeding Axies.
BitPinas has several articles as guides in regards to SLP.
Decentraland is a virtual world where its users can buy and sell land, avatars, virtual assets and real estates. For users to trade within Decentraland, MANA is used as its main currency. It can be exchanged with fiat or other cryptocurrencies.
The Sandbox SAND
Another metaverse is on the list. The Sandbox is a virtual reality similar to Roblox because of the graphics and game developers can create games within the land plots available. Land and NFT land items are purchased using SAND. Land is used to build infrastructures to host games and virtual events
Gala Games GALA
Gala created games like Mirandus and Walking Dead Empire. Players need GALA to purchase NFTs within their own marketplace to have access to their games like Townstar and in return earn GALA.
STEPN is a Web3 lifestyle app where users are encouraged to wear NFT sneakers to do active activities like jogging and walking. As users do their activities they are rewarded by the app with GST. GMT is the governance token of STEPN and 6,000,000,000 supplies are in circulation.
WAX claims their cryptocurrency to be the most eco-friendly. The blockchain games within the network let users to stake WAXP in exchange for their computer’s RAM, CPU and NET power, technically using their own computers as rigs to mint WAXP. WAXP can be used to purchase NFTs, blockchain games and collectables.
DeFi Kingdoms JEWEL
DeFi Kingdoms on the Harmony and Avalanche networks. You need to purchase or rent an NFT hero to be able to use within the game. Your hero can have several professions: miner, fisher, forger, and gardener, where you can use them to acquire resources and JEWEL.
Radio Caca Raca
Radio Caca is a DAO that is created to make a metaverse for students to study and play with. It has partnered with global universities to make this possible. RACA is used to purchase NFTs and can be staked to profit from the rewards and serves as a governance token.
Immutable X IMX
As of Immutable X, “IMX is an Ethereum token that powers Immutable X, a scaling solution for NFTs that aims to enable near-instant, low fee transactions. IMX can be used for staking on Immutable X, voting on the future of the protocol, and paying transaction fees”.
This article is published on BitPinas: Top Play-to-Earn Coins and Metaverse Tokens
Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.