What are the top blockchain games to play?
The gaming industry is on the rise, with tech trends including AI, VR/AR, cloud gaming, eSports, NFTs, the Metaverse, and blockchain games dominating the sector's innovation. In 2022 alone, the industry produced revenue exceeding $345B, with the mobile market segment producing the highest revenue of $248B.
A whopping three billion people play video games, and this number is only expected to rise with time. Technology (mobile phones in particular) is becoming even more accessible to people, and with this accessibility comes the ease of playing your favourite video games.
The blockchain industry is no exception to the gaming boom. Blockchain technology is still nascent and is bound to gain more recognition and acceptance with time. More players are expected to get immersed in blockchain gaming and earn while they play.
Yes, you heard that right. The Play to Earn (P2E) model popularised by blockchain games rewards players with cryptocurrencies and NFTs. These can then be sold on digital marketplaces for other cryptocurrencies or fiat.
Of course, you can enjoy Free to Play (F2P) blockchain gaming as well if you are only interested in the gaming side of things. Crypto gaming incentivises gamers for their gaming enthusiasm and obvious skill set - the industry is bound to flourish during the next bull run.
What is blockchain gaming?
In a nutshell, a blockchain game is a video game that integrates mechanisms to earn digital assets. As the name suggests, blockchain gaming incorporates elements of blockchain technology for this purpose.
These elements include cryptocurrencies and NFTs, allowing gamers to earn, purchase, sell, or trade in-game items with other gamers.
Crypto gamers can earn cryptocurrencies or NFTs upon unlocking an achievement. These digital assets become the property of the gamer and can be stored in a wallet, sold on a marketplace, or traded for other in-game items.
There are more than 2,000 registered blockchain games at the time of writing. While many of these games are live, others fall into the Alpha, Beta, Development, Pre-sale, and Cancelled categories.
How does blockchain gaming work?
F2P and P2E are the most popular blockchain gaming models. F2P games allow you to earn cryptocurrencies and NFTs but have no barrier to entry - you can play a game for free without the obligation to buy a particular crypto token or NFT. The Sandbox is one of the most popular metaverse-based F2P games.
To play a P2E game, you must purchase either a cryptocurrency or NFT. Currently, Axie Infinity is the most popular P2E game. To play the game, you must buy an NFT called an Axie.
It should be noted that both F2P and P2E gaming allow you the means to buy and earn gaming assets.
You can think of crypto gaming as an investment option as well. As there are currently more than 2,000 registered crypto games, it is quite natural for an early-stage investor to buy a large number of tokens, hoping to reap substantial returns if the game is received in a positive light by the gaming community.
That said, several games fall into categories such as Development, Alpha, Beta, and Pre-sale - do not rush your investment, lest the game is cancelled before release.
Talking of revenue for gaming developers, crypto games earn money through the sale of in-game items such as skins, weapons, and virtual land, as well as advertising.
Another gaming model worth exploring is crypto gambling. Yes, cryptocurrency gambling, too, falls under this umbrella. By gambling on casino games and other games of chance, crypto investors can earn cryptocurrencies. Some of the most popular cryptocurrency gambling platforms are 7bitcasino, BitStarz, and mBitcasino.
Top blockchain games 2023
The blockchain gaming industry is worth more than $7.337B at the time of writing. The top five blockchain gaming projects by market cap are:
- Axie Infinity (AXS).
- The Sandbox (SAND).
- Immutable (IMX).
- Render (RNDR).
- Decentraland (MANA).
AXS, IMX, SAND, RNDR, and MANA command market caps that fall into the top 62 cryptocurrencies. With a total trading volume of more than $881M, blockchain gaming is here to stay. ApeCoin (APE), Gala (GALA), Enjin Coin (ENJ), STEPN (GMT), and FLOKI (FLOKI) complete the top ten blockchain games list.
Here are the top blockchain games, in my humble opinion:
Decentraland (MANA) is a F2P Metaverse built on Ethereum (ETH). On Decentraland, you can buy and sell virtual real estate. MANA is currently priced at $0.2969 and readily available on major DEXs, such as Binance.
The Sandbox (SAND)
Never buy the first piece of real estate you come across – assess your options! The Sandbox is a F2P, Decentraland competitor built on Ethereum. On The Sandbox, you can purchase and sell virtual real estate called LAND. SAND is currently worth $0.3011.
Axie Infinity (AXS)
Axie Infinity is a P2E blockchain game and the most popular one currently. You must purchase a virtual pet called an Axie to participate in the game. The AXS token powers the Axie Infinity ecosystem and is worth more than $4.50 at the time of writing.
Author: Surajdeep Singh
Surajdeep Singh has been working in the tech sphere as a marketing guru and journalist for over 6 years, with his speciality laying in blockchain and Web3. He has donned several hats in marketing and journalism over the years and worked with many reputable brands. Feel free to reach out to him on LinkedIn!