Best Video Game Cryptocurrency in 2023

Looking for the best video game cryptocurrency? Investors are always looking for the next best token in the Play-to-Earn space. Gamers use GameFi tokens to make in-game purchases, but let us not forget that investors can buy GameFi crypto, too, as an investment.

This article outlines exciting video game cryptocurrencies in the sections below.

A Closer Look at the Best Video Game Cryptocurrency to Invest in

Let us look at some of the most popular crypto games out there, as well as the tokens needed to play them.

Tamadoge (TAMA) – The Play to Earn Meme Coin With Huge Upside Potential

One of the best emerging cryptocurrencies to buy in 2023, Tamadoge aims to bring a new and exciting spin to the canine-themed meme world of Dogecoin.

In 2021, investors who timed it right made good returns by choosing to buy DOGE. And now there’s Doge with utility: investors who buy TAMA can use it to breed their own NFT pets and compete to earn more TAMA.

The flourishing play-to-earn gaming platform has once again caught the eye of gamers with its latest game launch, “To The Moon.” This exciting new addition to their arcade lineup has already amassed an impressive number of play hours. This game was launched following the highly successful debut of “Super Doge,” which garnered an overwhelmingly positive response from users in a remarkably brief period.

The commercial idea with Tamadoge is to leverage the massive popularity of the Doge world – and supercharge it with some rewarding Play-to-Earn gameplay. Players can buy and train their own NFT pet, which is represented in 3D graphics. Each pet is unique, with its own strengths and weaknesses. Pets compete in the Tamadoge arena to earn Dogepoints for their owner. And top Dogepoint holders are then rewarded in TAMA.

Tamadoge is not just aimed at serious Play-to-Earn fanatics. This gentle NFT-based game is aimed too at casual players who want to learn how to earn cryptocurrency playing games.

When it comes to tokenomics, a plus point of Tamadoge is that it is deflationary (so there’s always upwards price pressure), with 5% of pet store tokens burned making for an ever-decreasing supply of coins.

TAMA sold out its presale in record time before becoming one of the top projects of the year by pumping to nearly 2,000% from its presale price to an all-time high of $0.194.

The main game is still in development for 2023 – with the NFT Pets becoming the top trending collection on OpenSea when it launched – with mini games set for release in Q1 2023. Update – its first game Super Doge has now been released.

With its simple idea, Tamadoge could turn out to be one of the most popular crypto games in 2023, while the TAMA token is expected to pump in the coming months when crypto market conditions improve.

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Lucky Block (LBLOCK) – Huge Online Crypto Casino with Exclusive Welcome Bonus

Another of the best video game cryptocurrencies to consider checking out in 2023 is Lucky Block. Lucky Block is a gaming ecosystem launched in early 2022 that has undergone various evolutions to arrive at its current setup.

Video game enthusiasts will be glad to know that Lucky Block’s new setup is a fully-fledged cryptocurrency casino. This casino, dubbed “Lucky Block Casino,” features over 2,700 games that are playable using an array of digital currencies, ranging from BTC to DOGE.

Lucky Block’s gaming selection includes poker, roulette, blackjack, Aviator, and many more popular options. Aside from virtual games, Lucky Block also offers an array of live dealers and even “provably fair” games, which are backed by cryptography and ensure the validity of all gaming outcomes.

Thanks to this setup, Lucky Block has been cited as one of the best crypto betting sites available, but the platform doesn’t stop there. On top of the “traditional” games, Lucky Block also boasts a huge sportsbook, complete with 35 markets. The great news is that video game players can even bet on various e-sports, from Call of Duty to Counter-Strike.

No KYC checks are required when signing up at Lucky Block Casino, and users can make instant deposits/withdrawals using all of the best crypto wallets. Notably, Lucky Block also permits deposits made via Google Pay and Apply Pay – ideal for those that don’t yet have a crypto wallet set up.

As if that wasn’t enough, Lucky Block also has an exclusive promotion for new users. When a user signs up and makes their first deposit, they’ll receive a 200% bonus on the deposit amount – plus 50 free spins. This deposit bonus stretches to a maximum of €10,000, paid in ten installments.

Given this incredible bonus and other exciting elements we’ve mentioned, there’s no doubt that Lucky Block Casino is one of the best video game cryptos out there. However, as a side note, gamers in the US, UK, and Australia must use a VPN to access the site – although this is simple to set up due to the vast number of providers on offer.

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Decentraland (MANA) – Play-to-Earn and NFT Metaverse

Decentraland offers crypto video games as part of its metaverse – and gamers and investors alike can buy MANA to get involved.

The Decentraland metaverse is browser-based and presents a virtual reality map based on plots of land. Investors and brands can buy these plots as NFTs using in-house crypto LAND (exchangeable for MANA). Plots are used to build virtual properties, which are then used as shops or to host events.

Numerous corporate brands bagged a Decentraland plot in 2021, including Adidas, Atari, Miller Lite and Samsung. Sotheby’s have held a virtual auction onsite and, in March 2022, a Decentraland fashion show attracted big brands like Dolce and Gabbana and Estée Lauder.

Exciting cryptocurrency video games are beginning to show up on Decentraland. Wilderness Play 2 Earn is a Free-to-Play MMO-RPG set in Decentraland’s ‘Magical Forest’. (MMO stands for ‘Massively-Multiplayer Online Game, and RPG stands for Role Playing Game). Gamers can earn in-game crypto $WLDY and win wearable NFTs for their avatar.

Enjin Coin (ENJ) – Token for the Enjin Play-to-Earn Multiverse

ENJ is the token for a whole ‘multiverse’ of metaverses hosted by Enjin. This multiverse hosts many play-to-earn games in one integrated world. Players can buy the ENJ token and use it mint NFTs for in-game equipment and avatars. A further crypto Efinity is used ‘to fuel a decentralized metaverse’.

Enjn hosts an NFT marketplace with 3.2 million digital items traded, and over a billion blockchain assets to explore.

The Enjin Multiverse stands out because NFT items bought in one play-to-earn game are often useable in other games onsite, even if the games are hosted on different blockchains. Enjin confirms, for example, that owning ‘an APG-M55 Plasma Gun means that you have a deadly weapon to play in 24 games and counting.’

Another stand-out feature of the Enjin model is that Enjin NFTs can be ‘melted down’ and some of the Enjin tokens used to make them recovered.

The Sandbox (SAND) – Classic Metaverse Token

Founded back in 2011, The Sandbox was one of the first decentralized platforms for Play-to-Earn games. User participation and content creation is encouraged through the Sandbox Decentralized Autonomous Organization (DAO). As with Decentraland, players can buy plots of virtual land and monetise them, as well as building their own NFT avatar.

Sandbox has accumulated some high-profile brands as partners, including Adidas, Snoop Dogg, Atari and the Smurfs.

The Sandbox virtual world is secured on the Ethereum blockchain. It uses the Proof-of-Stake consensus mechanism (rather than the environmentally-unfriendly Proof-of-Work mechanism employed by Bitcoin).

SAND is the governance token. As an ERC-20 token, SAND may be staked, both in-game and elsewhere. The supply of SAND (like most GameFi tokens) is capped: at 3bn tokens. Currently 1.28bn SAND tokens are in circulation. SAND has an undiluted market capitalization of $1.7bn and a typical daily trade volume topping $350m.

Since June 18th, 2022 the value of SAND has risen from $0.7431 to a current price of $1.3542. That is an increase of 82% in 6 weeks.

Gala (GALA) – Player-friendly P2E Platform

GALA is the governance token for the Gala Games Play-to-Earn/NFT metaverse.

Gala has PVP brawler Spider Tanks and colony simulation Townstar in Beta, as well as over half a dozen games in other genres in development and testing.

Gala makes a bold claim: that it is ‘making blockchain games you’ll actually want to play’. With their evolving range of play-to-earn games, Gala’s emphasis is on fun, simple gameplay rather than complicated blockchain mechanics. This focus on player experience is reinforced by Gala developing their games in liaison with their Discord community – and having the whole platform run on their own player-owned node ecosystem.

There are three types of validation nodes which players can get involved with to earn rewards like GALA tokens and limited edition NFTs. Owners who buy a license to operate one of Gala’s 16,000 nodes get a vote on how the GALA network evolves.

Gala’s focus on player ownership makes its token GALA arguably one of the best cryptos under $1 for investors wanting to back the GameFi phenomenon. One GALA is currently priced at just $0.05976.

STEPN (GMT) – ‘Move-to-Earn’ Token

GMT is the tradable governance token for the STEPN fitness app. STEPN is pioneering a new category of crypto game: instead of ‘play-to-earn’, STEPN is all about ‘move-to-earn.’

STEPN aims to promote health and fitness by rewarding players who walk, run and jog in real-life. Players buy a pair of STEPN NFT sneakers/trainers and, thanks to GPS technology, earn in-game currency GST as they exercise. GST can be used to mint, repair and level up sneakers. And when players upgrade their sneakers to level 30, they earn GMT.

Investors can buy GMT without using the STEPN app. One GMT is currently worth $0.999. Since June 13th, 2022, the value of GMT has almost doubled: rising from $0.5645 to $0.9976 by July 31st. Investors can check out STEPN GMT price predictions before taking the plunge.

Based on the Solana blockchain, GMT can be numbered as one of 2023‘s best gaming crypto coins. STEPN’s synergy of real-world fitness and in-game financial reward is an idea with unique potential.

Axie Infinity (AXS) – Play-to-Earn Game Popular in Developing Countries

In its heyday in 2021, Axie Infinity was viewed as the most profitable crypto game. It had the most valuable collection of in-game NFTs on the planet as well as monthly player figures of nearly of 3 million.

Players in developing countries, such as the Philippines, made a living from Axie – and still do to a lesser extent – where at one point its rewards were higher than the average salary.

Axie players breed, train and fight NFT ‘monsters’ to earn in-game crypto SLP as well as utility token AXS.

But 2022 saw crisis strike. Axie is an Ethereum video game, built on the Ronin Network (an Ethereum sidechain). In March, hackers plundered the Ronin network to the tune of US$620m. As part of a wider NFT and crypto slump, the value of SLP was already significantly down. Now investor confidence was gravely dented, and the price of AXS has yet to recover. Price predictions for AXS are not, therefore, hugely optimistic.

Readers may also be interested in our guide to the best GameFi crypto tokens to buy.

Illuvium (ILV) – Fantasy Play-to-Earn Metaverse

Illuvium is a Play-to-Earn metaverse based on the fantasy genre. Players can explore the 3D open world of Illuvium as well as build up a team of creatures called ‘Illuvials’ to do battle. Each Illuvial is represented as an NFT. Players mint and trade their NFTs with zero fees and virtually instant transactions, thanks to Illuvium’s use of Layer-2 scaling solution Immutable X (IMX).

With its 3D graphics, Illuvium is targeted at traditional gamers who may have not have much experience with NFT and crypto. And, as with Battle Infinity, the Illuvium platform hosts staking opportunities, an NFT marketplace for in-game items and a decentralized exchange focussed on the in-house token.

Having topped $1,800 per token in late 2022, the Illuvium in-game token ILV is currently priced at $120. As with other GameFi tokens, its recent fall in price is down to the general slump in NFT and crypto sectors thanks to wider economic fears.

History of Crypto Video Games

Let us be clear: crypto video games are online games which use crypto to reward players. We are not talking about the best video on cryptocurrency or crypto (like Livepeer, for example) which relates to video streaming.

Video games in primitive form have been with us since the early 1950s. The commercial video game industry took off in the early 1970s, with the rise of computer game arcades and the launch of the first home video console the Magnavox Odyssey.

• Blockchain games got going with the launch of NFT breed-and-fight game Cryptokitties in 2017.
• Then came play-to-earn classic Axie Infinity in 2018, which has been arguably one of the most profitable crypto games ever. Its NFT collection in 2021 was the most valuable in the world.
• Ubisoft has been one of the few traditional games developers to embrace NFTs in their games. Valve, the company behind giant games platform Steam, banned NFT/crypto games in 2021 on the basis that they contain in-game purchases.

Are Crypto Video Games a Good Investment?

The tokens for a crypto video game can be a great investment if the investor treats them as the high-risk assets they are.

Crypto tokens generally are high-risk – but the tokens for crypto video games can be viewed as riskier still. That is because sometimes their market capitalization is very low, which means that price movements are exceptionally volatile. Further, some games take off and some do not; and the price behaviour of a game’s token tends to follow its popularity in terms of users.

The roller-coaster ride of the AXS token for the Axie Infinity game shows how quickly the fortunes of a GameFi token can turn; first it was the market darling of 2021, then the general downturn in the market as well as its own hacking scandal sent AXS into decline in 2022. This is despite the fact that the game still pulls in roughly 1m players a month.

This riskiness needs to be factored into an investor’s thinking. Of course, high risk potentially presents high rewards. But investment in crypto of any kind should be matched by a much greater investment in lower risk assets, like stocks, ETFs and commodities. Experts recommend that between 1% and 5% of an investor’s portfolio should comprise crypto.

Remember that investors can stake some GameFi tokens. Battle Infinity, for example, allows users to stake IBAT tokens on-platform. Other GameFi tokens may be staked with platforms like Binance.

Conclusion

Above we have reviewed the pick of the best video game cryptos, that should interest both investors and gamers.

Tamadoge has now released several of its arcade games at tamadoge.io including Super Doge, Rocket Doge and retro more video game style options.

FAQs on Video Game Cryptos