First came TradFi, then came DeFi, then game GameFi. The world of gaming is on the cusp of an explosion in wealth if they embrace the GameFi market. Those who are familiar with the GameFi space have capitalized on some of the unique ways that Web3 games are incentivising players and creating new revenue streams using in-game assets.
The play to earn phenomenon captured the attention and imagination of gaming communities around the world in 2021. A new business model had arrived and there was no boss to tell you what to do. You simply logged on to your favorite game, committed some time and were rewarded with tokens.
To appreciate the extrinsic value offered via GameFi let’s take a look at the numbers. According to DappRadar, the decentralized app tracking platform there has been $2.3 billion investments into Blockchain gaming in 2023. In November, Blockchain Gaming crossed a milestone reaching over 1 million daily unique active wallets.
As blockchain games begin to cement their relationships with the players, the tokens being used within the games become more valuable. Players opt to stake them, trade them, build with them and use them to make decisions around future game play.
There are so many amazing games to try out and many new games coming on stream everyday it will be difficult for gamers to decide where to spend most of their time so we have come up with a list of easy to enter games that will give you a real feel for the GameFi space.
Here are a few of the most interesting GameFi tokens to look out for in 2024:
Alien Worlds ($TRILLIUM)
Consistently ranking in the top 3 blockchain games for the last five years, Alien Worlds has already established itself as one of the most loved games in the GameFi space. It is also connected with the WAX blockchain that consistently ranks as the top blockchain for developing games. With over 133,000 daily active players it leads in terms of volume and has captured the imaginations of its player base.
The Sandbox Game ($SAND)
The Sandbox is a virtual world where players can build, own, and monetize their gaming experiences and assets inside an immense virtual world. The Sandbox offers a suite of tools, tailor-made to empower players to come together and create engaging experiences across the metaverse. It is on a mission to put the creator first in 2024. It has amassed a reputation for bringing in big names and brands to play with a pixelated version of their fame. Most recently announcing the Big poppa collection with famous rapper Notorious B.I.G.
Illuvium ($ILV)
Illuvium blends fantasy battles and DeFi. It is one of the most followed immersive blockchain games with a focus on decentralized governance that must be admired. In the adventure world, players encounter Illuvial creatures that can be nurtured and deployed to battle other players. The ILV token is central to the ecosystem and enables governance of the DAO.
Gala ($GALA)
Gala Games boasts a diverse portfolio of play-to-earn games including Champions Arena and Internal Paradox. They also have numerous games in development and are often positioned as leaders in the GameFi business model. Gala operates on the Ethereum blockchain and has expanded its network through partnerships with Polygon AND BNB Chain.
Gods Unchained ($GODS)
Simple Trading cards meet crypto strategy in Gods Unchained. With over $34 million worth of NFTs traded, this game has gathered a legion of 450,000 players and counting. This is a free to play decentralized game built on Ethereum and Immutable X. Instead of just collected cards you are collecting tokens, giving you a new level of ownership. Players can trade, sell, and battle their way to glory with decks that you meticulously craft. Gods Unchained introduces its own native token, aptly named GODS, adding a divine touch to in-game transactions.
Chiliz ($CHZ)
Chiliz is bringing the sporting world to GameFi by creating immersive experiences for sports fans and setting the stage for the future of fandom. They remain focused on the passion of fans and the excitement that teams can bring when they partner with the right technology provider.
Nakamoto Games ($NAKA)
Nakamoto Games is a gaming ecosystem, covering numerous blockchain games. They have focused on fun, social games with multiple ways for players to earn rewards. Candi Shop, Naka Runner and Bubble Shooter are easy to play but also quite addictive games to get players in the zone. It has been slowly and steadily climbing the ranks amongst Web3 players and it will be interesting to see how it expands adoption in the new year.
Sweat ($SWEAT)
Just this week SWEAT announced that they have reached over 150M registered users for their application. Walk to earn became a phenomenon all of its own when the Sweat economy brought the full fitbit business model to crypto. If you have been using a fitbit to track your 10,000 steps a day when you could be using the Sweat app you have probably missed out on some interesting rewards. Now, instead of just tracking your steps you could earn tokens as you walked. The mobile application is easy to use, easy to navigate and easy to try out as a newcomer to the world of move to earn.
TWO GAMEFI TOKENS THAT ARE ON THE WAY IN 2024
Upland ($SPARK)
With over 3 million registered accounts and 30k daily active users from over 50 countries Upland is one to watch for the new year. There is great anticipation about Upland’s in-game token which is due to launch any day now. For Upland fans, the utility token will be hosted on the Ethereum blockchain and provide a chance for players to earn true ownership. Spark can be staked during construction and extended to community led projects, NFT minting and 3D asset creation.
Portal Gaming ($PORTAL)
After just releasing their whitepaper this month, Portal is quickly positioning itself as a go-to platform for gamers, game studios and creative types who also happen to love tokens. Adding to that Jamie King, Rockstar Games Co-Founder has joined as an advisor “I hold unwavering confidence in the core team behind Portal. Working alongside them as an advisor, I’ve witnessed firsthand their technology, product development, and distribution expertise. I’m honored to be part of their journey.”
Although Web3 gaming communities realize the potential of the GameFi world, many projects are still waiting for the online gamers to understand that their in game assets could have real world value. Selling, Staking, trading, swapping and renting are now commonplace in blockchain gaming circles. It is the largest rabbit hole that I’ve ever jumped into and fascinating how in game mechanics can be built around new gaming economies that scale.
Also, the owners of those assets don’t stop thinking about their future utility so if you are a game producer you immediately have a base of co-creators and storytellers to reimagine the possibilities of the game.
If you’re exploring GameFi, you can also check out this list by CryptoPresale.
