Gaming cryptocurrencies are the next big innovation in PC and mobile gaming. But with the frantic pace of the field, it can be hard to keep up with the latest news.
This can make it difficult to know which gaming cryptocurrencies are most worth investing in.
In this article, we will discuss the top ten video game cryptocurrencies of 2019.
All of the cryptocurrencies mentioned here are either currently being used in popular blockchain games or else are getting a lot of interest from investors.
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To make it easier for you to get more info, we’ve also provided links to the developer’s official website for gaming coins or tokens.
There are no functioning games yet that use Enjin Coin. But the team that created it has ambitious plans, and they have an impressive record of accomplishments.
Enjin Coin was created by the same team that made the Enjin Network for Minecraft players, an influential website that helped Minecraft players set up servers and trade content with each other.
With Enjin Coin, the team hopes to create a smart-contract powered network that will allow game designers to make their in-game items tradeable between games.
If they pull this off, it could be a revolutionary development in online gaming.
Several games are already being developed that use Enjin Coin, including Forest Knight, 9 Lives Arena, Bitcoin Hodler, War of Crypto, and Age of Rust.
Read about the latest news on Enjin Coin.
One of the most popular gaming cryptocurrencies is Etheremon Token (EMONT). This token is the in-game currency for Etheremon, a blockchain-powered game that is inspired by Pokemon.
In Etheremon, players can catch cute, collectible creatures called “Mons;” level them up, breed them, and battle them against Mons owned by other players.
The game does over 4,000 transactions per week, making it one of the most played blockchain games in the world.
Etheremon currently allows players to buy Mons from the developer using Ethereum. However, the developer plans to eventually require EMONT for these purchases.
EMONT is also awarded to players when they win battles. The rate of reward decreases over time, making EMONT more scarce for future players.
Related article: Etheremon Review and Playing Guide
EMONT is also used in several other games, including EMONT Frenzy, MyCryptoHeroes, and Cubego.
Steem is usually thought of as a social network cryptocurrency. But it is also increasingly being used in gaming thanks to the incredible popularity of SteemMonsters.
Steem Monsters is a digital collectible trading card game that runs on the Steem blockchain. Players can buy packs using Steem and collect cards of individual monsters, then battle with each other in one-on-one matches.
There are also Steem Monsters tournaments that offer Steem as a prize to the top finishers.
Over 15,000 games of Steem Monsters are played each day, making it one of the top blockchain games in 2019.
Read more: A review of SteemMonsters
Because of the success of SteemMonsters, other games are being developed for Steem as well.
For example, HashKings is a game that the developer claims will let players run virtual cannabis-growing businesses on the Steem blockchain.
The game is listed by the developer as “coming soon.”
TRON is a smart-contract platform made specifically for the entertainment industry.
It is used in many different crypto games. Most of the games made on TRON are not very notable.
But there is one exception: TRON Legend.
TRON Legend is a multiplayer online RPG in which players can collect heroes, outfit them with equipment, fight bosses, engage in pvp battlegrounds, and level up professions to create magical items.
It has over 2,000 active users who play each week. All of these users rely upon the TRON cryptocurrency to trade items and characters with each other, as well as to pay the transaction fees to TRON miners (witnesses).
If TRON Legend continues to be popular, TRON should continue to be in demand.
EOS is another smart-contract platform that is increasingly being used in games. As with TRON, most EOS games are not very popular. However, EOS Knights has recently rocketed to third place in the most-used blockchain app rankings.
EOS Knights allows players to collect materials, craft items, and battle enemies; all of the usual stuff you would expect in an RPG. But one of the main features that distinguishes EOS Knights from its competitors is that it is a mobile-optimized game.
Wherever a smartphone or tablet is available, EOS Knights can be played. It can be downloaded straight from the Google Play Store or played from a mobile web-browser.
The EOS cryptocurrency is used by EOS Knights players as a medium of trade and as a means of paying for transaction fees. The effect of EOS Knights on the EOS cryptocurrency should be similar to that of TRON Legend for TRON.
As long as players need EOS to pay for in-game transactions and trade with each other, it should provide some support for the coin’s price.
RUN is the in-game currency for Nakamoto Run, a game in which eight virtual guinea pigs compete in a race. Players can bet on the winner of the race and earn EOS if they make the right pick.
Players can also earn RUN tokens just for playing the game. 80% of the “profit” from each round of betting is distributed to holders of RUN tokens through a smart contract.
At the end of each race, the winning guinea pig shouts out a statement.
Players can bid their RUN tokens in an auction to determine what this statement will be. This game is popular in China because businesses there often use it as a means of advertising.
If Nakamoto Run continues to attract the attention of advertisers and gambling fans, it should continue to provide support for the RUN cryptocurrency.
Mobile Go coin (MGO) is a cryptocurrency awarded in over 500 browser-based games, including Baldur’s Gate: Enhanced Edition, Champions Online, 55 Street, Age of Wushu, Black Shot Global, and many others.
These games are completely free to play. But in some of them, players earn a centralized token called GShare Gold.
These GShare Gold tokens can be used to purchase entry into major tournaments, which then payout decentralized MGO as a reward. In-game items and premium versions of the games can be purchased using MGO.
The games that currently use MGO coin are mostly provided by Xsolla. They are low-budget, browser-based games. Still, there is a niche market for these types of games, and Xsolla is especially good at producing them.
MGO is trying to work out deals with other, similar developers as well. So this cryptocurrency could be even more widely used in the future.
MANA is the currency for Decentraland, a virtual world that runs on the Ethereum blockchain. In Decentraland, users can create 3D objects and display them on their land.
They can then sell these objects, rent them out, give them away, or do whatever they want with them. They can also just walk around in the virtual world and see what others have created.
This is similar to other virtual worlds such as Second Life, except that in this case the assets created by users are actually owned by them and can’t be deleted.
The original purpose of MANA was to facilitate the sale of LAND (all caps), which is what the land inside the virtual world is called.
However, there is very little LAND left in the hands of the developer, and all of the MANA used to buy it has been burned. The future purpose of MANA will be as a currency for content-creators in the virtual world to buy and sell 3D objects that they have created.
Decentraland is not yet a functioning virtual world. There has been no actual content created on the platform yet.
The developer is awarding LAND to artists through contests, and is hoping to open the world to the public soon.
Despite the lack of a finished product, the project has attracted a lot of interest from investors, with some plots of LAND selling for as much as $800,000. So even though this project is not finished, it may be worth keeping an eye on.
See also: Decentraland – Latest News
ION is a cryptocurrency used in games for the Ionomy platform. Right now, the only one available is a truck racing game called Offroad Heat.
However, the developer previously released an action shooting game called CryptoGravity, which is currently being redesigned.
There are also plans to release three other games in the near future: The Moon or Bust, UrbanWords, and ionix.
Ionomy games provide weekly tournaments in which participants can win ION. ION can be used to buy in-game items and premium versions of Ionomy games.
There is no evidence that Ionomy games are especially popular. However, they are getting a lot of media attention, which could lead to popularity in the future.
LOOM is the primary cryptocurrency for the Loom Network, a Delegated Proof of Stake (DPoS) side-chain created to increase the speed of games running on the Ethereum network.
LOOM was created by the same people who brought us CryptoZombies (an influential web tutorial on how to program blockchain apps) and the digital CCG Zombie Battleground.
Unlike the other cryptos on this list, LOOM is a little more complicated to explain. LOOM is not a currency used in a game. Instead, it is a currency used in a gaming platform.
The purpose of this platform is to solve the most pressing problem for blockchain game designers: scalability.
Most blockchain games today suffer from scalability problems. If a game gets too many users, it slows to a crawl, causing irritations to players and causing many to quit.
The root cause of this problem is the Proof of Work consensus protocol used by Ethereum, which is notoriously bad at scaling.
Because of this, many Dapp developers have been moving away from Ethereum and trying to use DPoS platforms such as Steem, EOS, or TRON instead.
But the Ethereum programming language, Solidity, has become an industry standard. This makes it hard to convince most developers to change.
The idea behind LOOM network is to solve this problem by creating DPoS side chains that are faster than the Ethereum mainnet, but that also connect to that mainnet on a regular basis to verify transactions.
This requires a new token to be issued that can be staked by developers in exchange for bandwidth on the network. This is similar to the way Steem works.
If the LOOM team succeeds at convincing developers to take this approach, it could solve the scalability problem.
If this happens, there should be plenty of demand for LOOM tokens as developers use them to create games.
However, it is still too early to determine whether this will happen, and the plan is pretty experimental. But it’s definitely a game-oriented crypto that investors should keep an eye on.
So that’s it for our list of the top ten gaming cryptocurrencies. New cryptos and new games are coming out every day though. Keep an eye on this page.
We will try to keep it updated as new developments occur.
Note: this is not financial advice. Only invest what you can afford to lose and always do your own research.