Find Out The Best Crypto Coins for Gaming

November 24, 2021 Blockchain

Gaming has evolved through the years. There was a time when gaming at home was a “Plug and Play” experience where you sit down, power up your home console and play through the session.

Fast forward to 2021, with the advancement of blockchain technology, gaming now translates to earning opportunities through the play-to-earn model.

As specialized website NFTEvening puts it, when we combine NFT and Gaming, a unique economy on ownership and universally recognized value is fostered through stake on ownership.

So if you want to participate in the biggest NFT segment that’s taking the world by storm then this article is for you. We’re listing down the biggest crypto coins for gaming that you should consider

Axie Infinity Shards (AXS)
AXS is now the largest gaming cryptocurrency on the market. AXS holders have a vote in the governance of Axie Infinity’s ecosystem and can also use it to get a share of the community treasury.

Two weeks ago, Sky Mavis officially launched the long-awaited AXS Staking feature of Axie Infinity. Basically, staking allows users to lock up the AXS they moved to the Ronin sidechain in order to earn AXS rewards.

Sky Mavis simultaneously airdropped 800,000 AXS ($60M) to roughly 10,000 players who were active before Oct 26, 2020.

Without the staking tools, this much new AXS entering the economy would’ve caused a sharp price decline, but instead, the price has stayed strong above $70 and just hit $150 as of press time.

One week post-launch of the AXS Staking, Axie Infinity’s active wallet interactions got a major boost! The dominant play-to-earn attracted 92% more user wallets.

AXS was initially just a governance token but with the staking option available, users can now earn passive income as well from these tokens.

As of press time, users have staked a total of 16.6 Million AXS, which is equivalent to almost $2 Billion with today’s price. Meanwhile, the price action is also on the upside.

AXS was trailing along with $75 per token before the rollout but now the price is $122 and at some point peaked at over $150.

Through AXS, people can bet on the Axie ecosystem without actually participating in it. This is quite tricky because speculators can move the price in the direction that suits them.

Right now, that direction is “up,” but they could just as easily crash the price when they take profits at the top.