Regarding the different “asset classes” of cryptocurrencies, there are an increasing number to choose from; from decentralized energy trading tokens to payments cryptos, you’ll find a little bit of everything in between.
One fledgling new class of cryptocurrencies to look out for are digital assets tailored to various functions within the exponentially booming gaming and eSports industries. These industries, like crypto, are set to reach titanic new heights in the years ahead, and cryptocurrency developers are already hard at work at marrying the two fields.
Today, then, we’ll be walking you through some upstart crypto projects that are focused on gaming so you can get a little more perspective on this new cryptocurrency asset class.
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WAX is one of the most exciting cryptocurrency gaming projects on the scene today. WAX will be focused on provided a decentralized trading platform for digital, video game-based assets; think of weapons or clothing skins in a first-person shooter, for example.
The economies around these game-based assets have exploded in recent years, and WAX could be the project that connects these economies for global trading.
It’s a hearty project, to be sure; its team has some superstars on it, and macrotrader Mike Novogratz has previously lavished praise on the project.
The Unikoin project is aiming to be a decentralized sportsbook for esports. As you can imagine, there’s a ton of room for growth in this niche over the next several years. Betting + gaming + blockchain could be an explosively popular combination, and Unikrn Gold is aiming to be the token to make that mix happen.
Like WAX, the project’s backers are impressive, too. Dallas Mavericks owner Mark Cuban and actor Ashton Kutcher have invested sizable amounts into Unikoin, making it a crypto to watch going forward.
Enjin Coin is focused on giving gamers and developers a platform through which they can create and manage virtual assets for games using smart contracts on the Ethereum blockchain. To this end, Enjin Coin is an ERC20 token.
The Enjin platform wants to be a sandbox of sorts, then, where content creators can leverage their content to their respective communities using the power of the blockchain. We’re talking about a decentralized gateway for subscriptions, in-game tools, and much more.
Accordingly, Enjin is one of the more notable projects in the gaming cryptocurrencies niche to consider. Its use cases could really proliferate wildly in the near future.
Decentraland offers users a virtual reality platform that is powered by the reliable Ethereum blockchain. With the platform, users are able to create content and applications, as well as experience and monetize them. This is the very first virtual platform that is decentralized, built on the blockchain and owned by its users, making it stand out from the crowd.
Check out our full guide we wrote about Decentraland for more details.
Chimaera is a super interesting gaming crypto, in that this project aims to be a platform upon which developers can easily create and customize games for mass production. But that’s not all.
The project is also looking to take advantage of off-chain scaling, using what it calls “game channels,” i.e. state channels, to empower fast, trustless gaming interactions on the blockchain. And that’s not even getting into all of the tried and true app functionalities that you’d want with such a project, like an app store and a private messenger.
Keep an eye on this one for sure.
DreamTeam is a cryptocurrency project literally focused on creating, well, eSports dream teams. That is to say that DreamTeam aims to be a gaming recruitment and management network. And this could be a massive project going forward, then, since elite gamers are becoming powerhouse athletes in their own rights these days.
As the markets around these players becomes more competitive, DreamTeam can help bring decentralized order to the space. Users and teams will be able to monetize their gaming efforts on an innovative platform that is set to be a one-spot stop for all things eSports.
As of autumn 2017, the beta of the DreamTeam platform is live.
First Blood is a gaming cryptocurrency that marriages rewards with eSports. It’s that simple. Using the eSports platform, players will be able to get paid in 1ST tokens for dominating opponents in matches.
That paid-to-play dynamic alone could be enough to drive a ton of interest toward First Blood. People love gaming, and people love getting paid, and First Blood is going to combine the two on an Ethereum-based platform that will decentralize gaming as we know it.
This is definitely an ERC20 token to watch closely.
Another ERC20 token, Skincoin is another cryptocurrency project that, like WAX, is focused on facilitating the exchange of “game skins.” Such skins are hugely popular at present in a wide variety of mainstream titles like Counter Strike and Call of Duty, and Skincoin wants to become the premier marketplace for these assets accordingly.
Its competition in WAX is going to be stiff. But in the cryptoverse, even underdogs have a chance at experiencing remarkable growth, and Skincoin can make a dent if it delivers on its promises. Otherwise, the project will slowly fade into the background as more established players become entrenched.
HunterCoin is unique, billing itself as the “world’s first peer-to-peer massively multiplayer online (MMO) cryptocurrency game. A fork of Namecoin, HunterCoin has a decentralized virtual universe layered atop its blockchain.
Interesting for sure, but to be clear HunterCoin isn’t a serious investment opportunity: the project’s website explains that the crypto is an “experiment and […] a hobbiest project. No Marketing or promotion [has been done] and with a very small team working in our spare.”
Even still, HunterCoin is a notable curiosity because it points to the possibilities of what games built on the blockchain can look like.
Skrilla is an Ethereum-based fantasy eSports betting platform. You pick your players, create a team, and then win crypto rewards on the Skrilla platform for picking strong performers.
That’s music to the ears of a lot of fantasy players. But be forewarned: fantasy sports betting, eSports, and cryptocurrencies can all be addictive in their own rights, so combining them together may just bring out the worst in your inner gambler.
As such, don’t dive in head first into Skrilla if you don’t think you can handle it responsibly. Never play with more money than you can afford to lose!
BitQuest is unlike any of the other projects on this list, in that it’s a Minecraft server that uses a “Bitcoin denominated economy.” Interesting right?
The project itself is a fork of an older version of Bitcoin. So, as you play on the server, your transactions are maintained on a version of the Bitcoin distributed ledger. The advantage of this dynamic is that you can use a regular cryptocurrency wallet hand in hand with a mainstream game like Minecraft.
And BitQuest has been expanding its horizons as of late, too, as the project has just recently announced its support of the “jokecoin” cryptocurrency Dogecoin.
The eSports industry has a ton of room for growth, just like the cryptocurrency ecosystem does. It’s not readily apparent that the two niches need each other just yet, but as both fields become more mainstream, their marriages could become synergistic.
Professional gamers might not have time to dive into the field of cryptocurrencies, or maybe the fit between gamers and digital assets is a natural one. We’ll have to wait and see how the dynamic unfolds as gaming cryptos make their marks in the years ahead.
The two could make an explosively popular combination if their founders’ plans pan out.
Written by Mike Granson