Monday, Jun 05, 2023

The Rise of Crypto Gaming - What Are The Best GameFi Crypto Investments for 2023?

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The Rise of Crypto Gaming - What Are The Best GameFi Crypto Investments for 2023?

GameFi is one of the most exciting areas of Web3 and is defined as the intersection between traditional gaming and decentralized finance.

The Rise of Crypto Gaming
The Rise of Crypto Gaming

Blockchain technology has developed significantly since the launch of Bitcoin well over a decade ago, and with the technical innovation of smart contracts that followed, experts believe that almost every industry will see disruption as a result of the increased efficiency that blockchain technology can provide.

What is GameFi and what are GameFi Tokens Used For?

GameFi is one of the most exciting areas of Web3 and is defined as the intersection between traditional gaming and decentralized finance. The gaming sector has generally seen big gaming companies hold all the cards, with gamers paying to play and user-generated content belonging to the big corporations.

GameFi has the potential to turn the gaming world upside down by pushing different mechanics such as the play-to-earn model and allowing in-game items, especially those created by gamers, to be owned by the gamers themselves.

A look at the best GameFi crypto to invest in for 2023

The huge amount of potential has led to the burgeoning blockchain gaming market to see many projects launching, with GameFi coins and play to earn games seeing a great deal of interest from investors looking to make big returns.

Here are some of the most interesting GameFi projects out there at the moment across the nascent GameFi ecosystem:

  1. Metacade (MCADE)
  2. AltSignals (ASI)
  3. Decentraland (MANA)
  4. Axie Infinity (AXIE)
  5. Illuvium (ILV)
  6. Enjin Coin (ENJ)
  7. The SandBox (SAND)
  8. ApeCoin (Ape)
  9. Yield Guild Games
  10. My Neighbor Alice (ALICE)
  11. Game of Silks (SILK)
  12. Meta Apes (PEEL)

1. Metacade (MCADE) – At the heart of the GameFi revolution

What is Metacade?

Metacade is an ambitious new project that has generated a phenomenal amount of attention following the release of the project’s wide-reaching roadmap as part of the Metacade white paper. Metacade has set its sights on positioning itself at the heart of the GameFi movement, and central to this ambition are the plans to construct the world’s biggest play-to-earn arcade.

Metacade boasts a robust and extensive rewards system that is fundamental to the effectiveness of the platform. It rewards players for their gaming activities across a wide range of different play styles, meaning that Metacade can target everyone from casual gamers to the most competitive.

Further to this, Metacade rewards users for non-gaming activities provided that they are conducive to a high-quality user experience on the platform. This means that users can also take a break from gaming but still earn rewards through completing tasks like writing game reviews and sharing alpha.

It’s no surprise that with such a compelling proposition and such interest in the market, the presale is seeing practically unheard-of levels of action. This has led to the project already raising an eye-watering  $12.7m in just 17 weeks as investors rush to secure their MCADE ahead of the competition.

What are the reasons to invest in Metacade?

The MCADE utility token is so critical to the way in which the Metacade GameFi ecosystem works that when user numbers grow as gamers flock to earn rewards for playing the latest GameFi games, the buying pressure on MCADE could be huge. This makes MCADE a GameFi token that could be set to skyrocket. Now that the project is in the final stage of the presale, we expect a scrabble to pick up tokens before they list on exchanges.

>>> You can participate in the Metacade final stage presale here <<<

2. AltSignals - Best for GameFi market trading signals

What is AltSignals?

AltSignals is a provider of the best quality trading signals out there, and while it is not a GameFi project in the traditional sense, it warrants inclusion due to having such a compelling proposition that could touch all areas of the crypto space.

AltSignals is currently best known for its AltAlgo™ product, which has produced incredible trading signals for the massive 50,000 existing users of the platform. This huge pool of users is unheard of for a new presale token, making AltSignals all the more compelling as an investment opportunity.

While AltAlgo™ has helped AltSignals deliver 1,500 signals at an incredible 64% success rate, the project is now looking to drive the market forward with the next level of signals — driven through cutting-edge machine learning product, ActualizeAI.

ActualizeAI will make the most of machine learning technologies like reinforcement learning and sentiment analysis in order to create the next generation of trading signals for its users, and the proven success of the AltSignals teams makes this a project that is proving to be extremely popular with investors.

What are the reasons to invest in AltSignals?

The ASI token will provide users with hotly anticipated early access to the platform and ActualizeAI, giving them a huge advantage over the competition and potentially locking in big trading profits. This enormous demand for the platform’s insights means that we could see a huge surge in demand for ASI as awareness grows.

>>> You can participate in the AltSignals presale here <<<

Decentraland - Best investment for owning game assets

What is Decentraland?

Decentraland is a project around a virtual world that runs on the Ethereum blockchain, allowing users to create, experience, and monetize in-game assets and applications using blockchain technology. In Decentraland, users can buy virtual land and build and design their own 3D experiences, games, and applications.

All content and transactions on Decentraland are decentralized, which means that ownership and control of virtual land and assets are recorded as non-fungible tokens and secured by the Ethereum blockchain using smart contracts. This focus on player ownership is a popular element of many GameFi coins, and many GameFi games are taking on this approach.

Decentraland offers a unique and immersive platform for users to interact and engage with one another in a virtual space, and its decentralized nature ensures that users’ data is secure and that they have complete control over their in-game assets.

What are the reasons to invest in Decentraland?

Decentraland's unique features and potential for growth make it a promising investment opportunity for those interested in the crypto space and the future of Web3 video games. As the world becomes more digitally connected, the demand for virtual experiences is increasing, and this means play-to-earn experiences where users own in-game assets are likely to increase in popularity compared with traditional video games.

Axie Infinity - Best investment for most-well blockchain games

What is Axie Infinity?

Axie Infinity is a blockchain-based game that runs on the Ethereum network, where players can breed, battle, and trade creatures called Axies. Axies are digital pets with unique characteristics and abilities that can be collected, trained, and bred by players, and the game uses a play-to-earn model powered by blockchain technology, where players can earn cryptocurrency by playing the game and trading their Axies. Players can also earn governance tokens, allowing them to participate in the development and decision-making process of the game.

Axie Infinity's play-to-earn model and unique gameplay mechanics have made it one of the most popular games in the GameFi space. It has created a new paradigm for gaming (compared with traditional video games) that rewards players for the time and effort spent playing the blockchain game instead of just the money they put in. Axie Infinity's strong community and growing user base have also made it a popular investment choice for crypto investors.

What are the reasons to invest in Axie Infinity?

As the demand for blockchain-based games and NFTs continues to grow, Axie Infinity's value proposition as a leading project in blockchain gaming could make it a valuable investment opportunity. The game's potential for expansion into other markets and integration with other blockchain games and GameFi projects also presents an attractive opportunity for investors looking to diversify their crypto wallets.

Illuvium - Best GameFi investment for NFT collecting

What is Illuvium?

Illuvium is a decentralized game that is also built on the Ethereum blockchain and is designed to reward players for their in-game actions. The game uses a great many non-fungible tokens to reflect a wide variety of creatures that players can collect, trade, and battle with. Each creature has unique abilities and characteristics, making it crucial for players to choose their team and strategize their battles carefully.

Illuvium's decentralized nature ensures that players have complete control over their in-game assets, and the game's play-to-earn in-game economy is entirely player-driven. The game is designed to incentivize players to hold on to their in-game assets, and the value of the assets can increase over time due to scarcity and demand.

What are the reasons to invest in Illuvium?

Illuvium's unique gameplay mechanics and innovative design make it an attractive investment opportunity for crypto enthusiasts. The game's community-driven economy and focus on player skill give it a strong value proposition in the growing blockchain-based gaming market. As the game continues to grow and evolve, it could potentially become a popular and profitable investment choice for crypto investors.

Enjin Coin - Best investment for in-game NFTs-as-a-service

What is Enjin Coin?

Enjin is a blockchain-based platform that enables developers to create, manage, and integrate virtual goods into GameFi games and other applications. The platform allows developers to create and manage non-fungible tokens and use them as in-game assets or collectibles, and the project offers a suite of tools that enable developers to create their own blockchain-based games and applications quickly and easily.

Enjin's NFT marketplace, the Enjin Marketplace, is one of the largest and most popular in the crypto space — offering a wide range of NFTs, including game items, collectibles, and art, all backed by the security and transparency of the Ethereum blockchain.

By making it easy for developers to integrate NFTs into the virtual environment of their blockchain game, they allow developers to focus on other key elements, such as the broader gaming experience and in-game currency economies.

What are the reasons to invest in Enjin Coin?

The Enjin platform's ease of use and versatility have made it a popular choice among game developers, and its strong community and growing user base suggest that it has significant potential for growth. 

Enjin also boasts partnerships with major brands such as Samsung and Microsoft, which can indicate that it has gained significant traction in the mainstream market, further increasing its potential for success as more GameFi platforms integrate its technology to support their games with in-game NFTs.

The SandBox - Best choice for user-owned assets

What is The SandBox?

The Sandbox is a blockchain-based virtual gaming platform that allows players to create, share, and monetize their own gaming experiences, in contrast to the world of traditional gaming. The platform uses NFTs to represent in-game assets and enables players to buy, sell, and trade these assets in a decentralized marketplace.

The Sandbox also features a unique game creation tool that allows players to design and build their own games and experiences within the platform, which has helped make it one of the most popular GameFi projects out there.

What are the reasons to invest in The SandBox?

The Sandbox's innovative approach to gaming and NFTs has made it a popular choice among both gamers and crypto investors. Its user-generated content model and play-to-earn system allow players to create and monetize their own content, making it an opportunity for the vast majority of gamers and content creators alike to earn in-game rewards alongside monetizing the assets they create.

As GameFi continues to grow and more GameFi projects become mainstream, The Sandbox's unique value proposition and strong community could make it a strong investment opportunity for investors. The platform's partnerships with major brands such as Atari and Square Enix further indicate its potential for success and growth in the gaming industry with the support of some big producers of video games.

ApeCoin - Best content ecosystem investment

What is ApeCoin?

ApeCoin is the adopted token of the ecosystem built around Bored Ape Yacht Club, an NFT collection launched in April 2021 that soon became a billion-dollar market. ApeCoin was launched to harness the economic potential of the Bored Ape ecosystem, and it is positioned as a utility token to create value and a governance token to ensure a decentralized future.

The APE ecosystem merges digital economies with live events, material goods, and a physical community. It has a wide range of use cases, including protocol governance, purchasing items in the ecosystem, in-game currency for APE-compatible blockchain-based games and gaining access to exclusive BAYC events. ApeCoin is governed by a decentralized autonomous organization (DAO) called the APE DAO that lets APE crypto holders vote on the direction of ApeCoin projects, giving holders a great deal of power over the project.

What are the reasons to invest in ApeCoin?

ApeCoin is an interesting investment choice for those looking at blockchain games in particular because the project actively supports integration into GameFi games. This provides the tokens with a lot of transferable utility across the broader APE gaming experience and makes APE one of the digital assets with more than one avenue for increased usage.

Yield Guild Games - Best for holistic GameFi investment

What is Yield Guild Games?

Yield Guild Games is a decentralized autonomous organization that operates across multiple play-to-earn GameFi projects, such as Axie Infinity and more. The project has its roots in game finance when found Gabby Dizon started lending Axies to other players who could not afford their own.

The project now consists of a number of different sub-DAOs that provide a unique way of engaging with play-to-earn games, with the gaming ecosystem under the remit of the subDAO allowing players to work together to maximize their income.

Members of YGG are able to rent community-owned NFT digital assets, which in play-to-earn games can allow them to earn rewards to pay the rent by completing tasks. This provides a collective income for the community and increases the accessibility of the gaming experience to markets with less disposable income. In some ways, there are parallels with the onset of free-to-play gaming in the traditional gaming industry.

What are the reasons to invest in Yield Guild Games?

The YGG token has a lot of utility in the YGG universe, and so as the gaming industry moves towards GameFi experiences becoming the norm, YGG could see a huge uptake in many countries across the world with low incomes. This could drive a great deal of demand for the YGG token, which makes the project an interesting investment, unlike traditional online games.

My Neighbor Alice - Best non-traditional intro to crypto gaming

What is My Neighbor Alice?

My Neighbor Alice is pretty unique as far as blockchain games go, with the game bringing together both crypto and non-crypto native players in a single experience.  Created by studio Antler Interactive, the games do a good job of exposing users to crypto through a strong narrative and gameplay-focused monetization options, unlike traditional video games.

To start playing, users purchase virtual lands, enabling players to then engage in money-making activities in the sandbox ecosystem. The digital currency of My Neighbor Alice is the ALICE token, and the game also features extensive use of NFTs for in-game assets like plants, buildings, and flowers that allow players to decorate their land and share those experiences with other players.

The game also features an in-game marketplace that allows players to buy and sell in-game items, and an extensive reputation system allows players to work toward goals that enable special events and NFTs.

What are the reasons to invest in My Neighbor Alice?

My Neighbor Alice is one of the few blockchain games that targets educating non-crypto users as part of the experience, and with the game’s in-built economic model, a big increase in the number of users over the coming years could see a high level of price appreciation for the ALICE token.

Game of Silks - Best horse racing GameFi investment

What is Game of Silks?

Game of Silks is a fantasy sports game that focuses on horse racing, allowing players to own and race thoroughbred horses and earn rewards by competing. This takes advantage of a limited amount of competition in the niche, and the project has looked to partner with other companies in the horse racing industry to increase awareness.

With sports gaming growing significantly, we could see Game of Silks capture a big chunk of the market as Web3 grows over time.

What are the reasons to invest in Game of Silks?

Game of Silks has the advantage of its niche, and with slick branding and an aggressive roadmap, we might see the SILK token increase in price over 2023 if it can build enough momentum.

Meta Apes - Best GameFi investment on the Binance Smart Chain

What is Meta Apes?

Meta Apes is a project launched on the Binance Smart Chain, which is now the BSC game with the most active users. In the game, players can build up a team of monkey avatars that have specific skills, and this army of monkeys can be trained over time to increase their skills.

While the game includes some PVE components, it also remains true to the GameFi standard of allowing users to compete against one another and has more recently ventured into the NFT space too.

What are the reasons to invest in Meta Apes?

With Binance continuing to push its layer-1 protocol aggressively, Meta Apes could be in good shape when it comes to the marketing resources at hand. With the PEEL token being used quite heavily across the platform for many of the core GameFi purposes, a big marketing push could see the price of PEEL rise significantly.

Are GameFi Cryptocurrencies a Good Investment?  

GameFi cryptocurrencies definitely offer the potential for a good investment, given the fast pace of growth in the industry and the high potential of many current projects. 

Conclusion - What is the number 1 GameFi Token?

Metacade is such as compelling investment that there is no doubt that it remains the best ICO out there right now, both in GameFi and beyond. With development likely to pick up speed in the coming months, MCADE holders could see an incredible return on their investment as the ecosystem grows and awareness of the tokens increases, including GameFi as a whole.

Related Crypto FAQs

What is the future of GameFI?

The future of GameFi looks very bright, with industry analysts predicting GameFi will grow at 10x the rate of traditional gaming over the next three years. The huge rise in digital assets and low market caps of many GameFi projects mean that from an investment perspective, the GameFi space is also very strong, especially in projects that focus on the entire gaming experience.

Can you stake GameFi tokens?

Staking is a common feature across many GameFi projects, whether they are on the Binance Smart Chain, Ethereum, or otherwise. Usually, the best place for staking is the game's official staking functionality, and it can be a great way to earn more virtual tokens while awaiting market cap growth.

How do GameFi projects make money?

GameFi projects make money in a variety of ways. In-game purchases can be taxed; in-game advancement can require specific assets, and blockchain games will often charge for any competitive elements they run on a regular basis.

What is the Metaverse?

GameFi is made up of many different components, and one of the most exciting ideas in GameFi is the idea of a metaverse. A metaverse refers to the creation of a virtual world where users can partake in different GameFi activities, and it could be very disruptive in many industries as the concept slowly becomes a reality.

You can participate in the Metacade final stage presale here .
You can participate in the AltSignals presale here .