Gaming blockchain technology is one of the budding sectors in the cryptocurrency market, showing promises. Within a short while of entering the coin market, many gaming tokens have shown promises of great potential and utility, with the previous year of 2021 being one of the most successful for them.
Per reports, blockchain games accounted for half of the blockchain technology usage in 2021, with over $2 billion in in-game collectibles traded. This shows how widely accepted gaming technology in the crypto space is gradually becoming. This wouldn’t come as a surprise since the concept of blockchain gaming combines two powerful sectors – the cryptocurrency market and the video game industry.
Already, there are billions of game players online daily. The play-to-earn (P2E) model of most blockchain games has attracted a larger percentage of this gamers pool to the blockchain gaming sector, and more are still coming. This indicates that gaming tokens like Decentraland (MANA), Axie Infinity (AXS), The Sandbox (SAND), and other new entrants in the crypto gaming sector like Felixphere (FELIX) have huge potential to succeed beyond the current market condition.
High adoption and great utility are essential factors responsible for cryptocurrencies’ success in the present crypto market, and these gaming tokens meet these conditions perfectly. While the current crypto winter has seen most cryptocurrencies witness a drastic price reduction, gaming tokens will potentially continue their upward projection when the market conditions are favourable again.
Decentraland (MANA)
Decentraland (MANA) is a virtual world powered by the Ethereum blockchain. It was launched to allow digital creators to create and monetise applications and content while experiencing all that virtual reality offers. Users purchase plots of land on the platform and have the freedom to use it for various activities that can bring satisfaction and incentives.
The Gameworld is called the Metaverse, and it’s divided into 90,000+ individual LAND plots, with each of them being represented by an ERC-721 NFT. Every LAND purchased on decentraland has a dimension of 16m × 16m (256 square metres) located at a particular coordinate in the Metaverse.
The DAO platform provides many monetising opportunities for users through LAND leasing, advertising, selling of items, creation of decentralised applications (dApps), and participation in play-to-earn (P2E) games. The platform’s token MANA powers all these.
Decentraland’s virtual world has two tokens, MANA and LAND. The former is an ERC-20 token that users must burn to acquire the ERC-721 NFT (non-fungible token), representing LAND. MANA’s utility on the platform includes governance tokens to gain voting rights in the DAO, medium of exchange on decentraland marketplace, and in-game collectibles like avatars, wearables, characters, etc.
MANA is the biggest gaming token by market capitalization on the CoinMarketCap as of this writing. It has over $1.7 billion in market cap and ranks amongst the top 50 cryptocurrencies. MANA reached an all-time high of $5.90 in 2022, and while it currently sells slightly below $1, there’s great optimism it can surpass the previous peak when the bearish market finally recedes.
Felixphere (FELIX)
Felixphere (FELIX) platform is a virtual protocol built on the Binance Smart Chain to help users earn in various ways by leveraging a play-to-earn (P2E) model and other incentive mechanisms. The gaming blockchain technology isn’t the first, but it aims to solve the problems most users face with the previous ones, which are game complexity, hard-to-follow rules, and reduced reward options.
The Felixphere (FELIX) ecosystem improved on this by bringing easy-to-play games with easy-to-follow features for users to enjoy while earning simultaneously. Some of the games on the Felixphere include Tic-Tac-toe, Rock/Paper/Scissors, Roll the Dice, Dot and Boxes, and others that’ll be updated as time goes on.
FELIX, the platform’s native token, is a BEP-20 token that’ll power all transactions on the platform. You can earn more FELIX via play-to-earn (P2E) games, referrals, and a daily lottery. The developers also aim to add more utilities and earning options from lending, borrowing, pooling, and staking.
Felixphere is full of potential to thrive in the coin market, and many enthusiasts are closely watching it. To learn more about the new project, follow the links below.
https://felixphere.io/