The emergence of blockchain technology has enabled many users not only to enjoy video games but also to earn money from them. It’s no surprise that Web3 games have sparked massive interest among players. However, not everyone is skilled at gaming. Many people don’t have the time to spend hours in front of a computer each day. On the other hand, investors with little gaming experience don’t want to miss out on the earning potential this growing technology offers, which naturally raises the question: how can they make a profit from gaming cryptocurrencies?
The answer is simple: by investing in gaming tokens. Nearly every Web3 project offering earning opportunities has an official token tied to the game. Those can be exchanged on the open market for stablecoins or other cryptocurrencies, such as Bitcoin or Ethereum. If you identify the potential of a game while it’s still in the early stages of development, there’s a good chance your investment will pay off.
If you’re one of the investors considering entering the world of gaming cryptocurrencies, our platform Joker.gg is here to help. In the rest of the article, we’ll walk you through the key factors to pay attention to when investing. We’ll also highlight a few examples of gaming tokens that have been present on the market for some time.
What Are Gaming Cryptocurrencies?
Gaming cryptocurrencies are digital tokens used within blockchain-based video games. For example, while V-Bucks in Fortnite have utility only within that game, gaming cryptocurrencies operate on the same principle as Bitcoin, Ethereum, and many other currencies, possessing real market value. Most of them are listed on centralized exchanges and can be traded for USDT or any other token.
This type of coin also forms the foundation of Web3 gaming. It essentially creates a new currency designed explicitly for a single game, and everything within the game operates using it. Players are rewarded through it, but also have the option to spend it on purchasing specific digital items within the game. Additionally, many projects have recognized the importance of tokenomics. Now we are increasingly seeing games utilize their gaming crypto tokens for staking (locking them in exchange for a reward).
Another core principle of crypto gaming is decentralization, where each user can contribute to shaping the project’s future. Naturally, the number of tokens a user owns determines the strength of their vote. This model encourages players to invest more time and attention in the game. However, it’s essential to note that this market is still in its early stages of development. That’s why we always advise readers to thoroughly research a project before making any investment to ensure they are putting their money into something genuinely worthwhile.
How to Choose the Right Project to Invest In?
As we often highlight in our articles, education and research are the foundation of success for every crypto investor. The crypto market is highly volatile. So, if you rely purely on luck or follow random influencers, you could lose your invested money overnight. That’s why it’s essential to personally examine all key aspects of a project before investing in it. If you happen to make a mistake and miss out on a token that quickly skyrockets in value, don’t despair. The new opportunities will always arise. Of course, we advise against rushing into the next project without thought. It’s always best to take a few days to “clear your head” before continuing your search.
When looking for the right crypto gaming token to invest in, pay close attention to the following key factors:
| ✅ Team and Roadmap | This is the foundation of any research. First, review the roadmap to ensure it’s clear, transparent, and realistically achievable. It’s also crucial to know who is behind the project. |
| ✅ Liquidity and Exchange Availability | If the token is already on the market, this factor can significantly help you decide whether you’re on the right track. If you see that a gaming coin is listed on major exchanges like Binance or Coinbase, it’s a strong sign that the project is legitimate. |
| ✅ Tokenomics | Always verify the total number of tokens and the amount already in circulation. The best-case scenario is that all tokens have been distributed. |
In addition to these factors, consider several other elements that can help you decide whether to invest:
- The token’s utility within the game,
- The strength of the community
- Popularity, partnerships, backing, and,
- The project’s security and transparency.
Advantages and Disadvantages of Investing in Gaming Tokens
| PROS | CONS |
| ✅ Opportunity to earn through token investment as well as passive income via staking | ❌ Token price volatility |
| ✅ Online gaming has been one of the most popular markets for years | ❌ Still a young and globally unregulated market |
| ✅ Growing community and increasing support for crypto gaming projects | ❌ High number of scams |
| ✅ Web3 games are in constant expansion | ❌ A relatively small number of people are familiar with blockchain technology |
| ✅ Integration with the NFT market and the metaverse | ❌ Potential decline in user or player interest |
Most Notable Gaming Cryptocurrencies Worth Watching
To conclude, here are a few gaming cryptocurrencies that have seen success in the past and, hopefully, will repeat that success in the current bull market:
Ape Coin (APE)
ApeCoin is a cryptocurrency developed by Yuga Labs, a company best known for one of the most prominent NFT projects – the Bored Ape Yacht Club (BAYC). This token serves as an excellent example of a gaming coin. It is used to purchase assets within Yuga Labs’ games, particularly in the Otherside metaverse, as well as for payments and access to exclusive events within the BAYC ecosystem.
However, considering that the majority of the project’s tokens were distributed to BAYC and MAYC NFT holders, it’s no surprise that the token’s value dropped sharply shortly after its launch. ApeCoin reached its all-time high (ATH) shortly after its release in April 2022, hitting an astonishing $22. After that, the coin deflated to its current value of $0.68 per token. Nevertheless, given the considerable attention that Yuga Labs dedicates to its ecosystem, we believe that new surprises are on the way.
The Sandbox (SAND)
The Sandbox is a blockchain-based metaverse where users can purchase virtual land and create their content and games. Later, you can monetize using the SAND token. NFTs within this project also represent ownership of land parcels. The token itself is used for transactions, staking, and participation in project governance. The current price of the SAND coin is $0.28. Its all-time high was reached during the 2021 bull market when one SAND was worth an astonishing $8.44.
Gala Games (GALA)
Gala largely shares its fate with The Sandbox. It represents a decentralized multi-game platform that allows users to develop multiple games within the ecosystem itself. As with SAND, NFTs represent in-game assets, while the token is used for transactions, rewards, and DAO voting. However, what GALA places significant emphasis on is the complete transfer of ownership from game creators to users. If they succeed in this, it will undoubtedly serve as a true example of what Web3 game decentralization is meant to look like. Gala reached its all-time high in November 2021, when it hit a price of $0.83. Currently, GALA stands at a modest $0.017, far below its true potential. We hope this will change in the future.
Render (RENDER)
Although it’s not a traditional gaming token, the impact of the Render project on this market is remarkable. Render is a decentralized platform for 3D rendering that is also used in the gaming industry. Users can offer their unused GPU capacity, while content creators pay in RENDER tokens to process complex visuals.
In addition to being categorized among gaming tokens, Render’s primary narrative centers on AI (artificial intelligence), which is why there are high expectations for this project soon. Render’s all-time high was $13.60, reached in March 2024, while the current price at the time of writing is $4.08.
Conclusion
Gaming cryptocurrencies should be viewed just like any other token. Look at them through the lens of the quality of the project behind them. If a game lacks the potential to grow and attract a wider community, you can spend hours playing while the token’s value continues to decline steadily. That’s why we often emphasize that gaming tokens can offer great opportunities, but they also carry even greater risks. To increase your chances of success, it’s essential to research each project thoroughly before investing. Also, never invest more than you are willing to lose.
Unlike the previous cycle, we have yet to experience a true “alt season” this time around. Gaming tokens have especially remained in the shadow of other narratives, such as AI, Meme, and Layer 1 projects. Still, the crypto market is known for its rapid fluctuations. It only takes one innovative move within a game for attention and capital to shift back toward the gaming sector. It’s up to you to identify a project with the potential for such a turnaround. We wish you the best of luck in that pursuit.
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FAQ
How can I buy gaming cryptocurrency?
Like all other cryptocurrencies, gaming tokens are purchased through decentralized and centralized exchanges, depending on whether you have a crypto wallet or your funds are held on Binance, Gate.io, or another exchange. It is essential to note that not all gaming tokens are available on every exchange; therefore, we recommend that users first check which platforms list the specific token.
Is investing in gaming tokens profitable?
Although there is no guarantee that you will profit from gaming or any other cryptocurrency, the fact is that by researching quality projects and investing at the right time, you can achieve profits. Moreover, Web3 gaming is constantly evolving, and we believe that with innovations in games, the value of tokens will also grow.
What is “Play-to-Earn” and how does it work?
“Play-to-Earn” (P2E) is a gaming model where players can earn real money through official tokens or NFTs, which they can later exchange for USDT, Bitcoin, Ethereum, and other currencies. The system is typically based on missions, tasks, and tournaments, with a common way to earn it through trading in-game NFTs.
Is it possible to earn passive income through gaming cryptocurrencies?
Yes, some projects offer options such as staking tokens (where you ‘lock’ them and receive rewards in return), renting NFTs to other players, or receiving dividends from game profits. However, this method of earning income is not guaranteed, as it depends on market trends and the project itself. For example, if the token price drops drastically, you can incur losses even if you earned additional tokens through staking.
Which indicators should be monitored when analyzing gaming crypto projects?
Key indicators for any gaming token boil down to the same parameters as those for any other crypto project: reliability and legitimacy, transparency and team experience, partnerships and investors, tokenomics, community activity, as well as the number of active users if the game is already launched.
