The cryptocurrency market hit all-time highs in November of 2021. Also, there has been an extraordinary interest in the market for GameFi coin projects during this period. However, in 2022, this altcoin sector was hit hard, along with the entire market. Generation Crypto media channel CEO BenGCrypto shares the list of top ten GameFi coin projects. Maybe history repeats itself and 2023 will be auspicious year.
BenGCrypto shared the biggest
As the gloomy clouds hover over the cryptocurrency market, investors are starting to be picky and seeking out. GameFi coins were very popular in late 2021. With the intention of maybe history repeating itself, BenGCrypto shared the data of the biggest ones on his Twitter account:
Top 10 GameFi coin projects by market cap. GameFi is the intersection of Blockchain gaming and finance. The financial aspect of games is often backed by tokens and NFT.
Top 10 GameFi Projects by Market Capitalization
GameFi is the intersection of blockchain games and finance. The financial aspect of the game are usually powered by tokens and NFT. $SAND $AXS $ENJ $GMT $GALA $WAX $MC $IMX $SLP $PYR pic.twitter.com/6wR8xc2hKk
— Ben GCrypto (@GCryptoBen) December 2, 2022
At the top of the list is ApeCoin (APE), the GameFi project of the popular NFT project Bored Ape Yacht Club. It is followed by Internet Computer (ICP), The Sandbox (SAND), and Axie Infinity (AXS). The ranking of other projects is as follows: ImmutableX (IMX), Enjin Coin (ENJ), STEPN (GMT), Gala Gmes (GALA), Wax (WAX) and Merit Circle (MC).
Let’s take a look at the popular GameFi coin projects…
Pixowl released The Sandbox in 2011. The project is a Blockchain-based GameFi coin project that allows users to create, build, buy and sell digital assets in the form of a game. Sandbox joins the forces of decentralized autonomous organizations (DAO) and Non Fungible Tokens (NFT). Thus, it creates a decentralized platform for a thriving gaming community. Its native token SAND is trading at $0.5898 at press time, down 2.5% on a daily basis. SAND peaked at $8.44 in late 2021, when GameFi coin projects were popular. The token has currently lost around 93% of its value.
Axie Infinity is a hugely popular Blockchain-based GameFi coin project, partially owned and operated by its players. The project draws inspiration from popular games like Pokémon and Tamagotchi. In this context, it allows players to collect, breed, grow, fight and trade token-based creatures known as Axies. Axie Infinity’s native token is AXS. At press time, the token is changing hands at $6.90, down 0.50% on a daily basis. AXS hit its all-time high (ATH) at $165.37 nearly a year ago. However, 2022 did not go well for the token, losing about 96% of its value.
Enjin Coin is a project of the Enjin company, which provides an ecosystem of interconnected, blockchain-based gaming products. Enjin’s flagship is Enjin Network, a social gaming platform where users can create websites and clans, chat, and host virtual goods stores. Enjin allows game developers to tokenize in-game items on the Ethereum Blockchain. The project’s native token is ENJ. The token price is $0.31 at press time. Also, ENJ is down 0.01% in the last 24 hours. The token saw the ATH level with $ 4.85 about 1 year ago. It has currently lost 93.6% of its value.
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