First, What are Crypto gaming coins?
The concept of several gaming crypto coins brings in a lot of doubt. In simple terms, these coins are those that are native to a certain Crypto or NFT-based P2E games. Players can buy these coins from the Crypto gaming platform or other popular cryptocurrency exchanges, like Coinbase.
Some of these in-game coins gained much popularity outside their native platforms, making them a much better investment. Even so, these in-game coins have yet to reach major cryptocurrencies, like Ethereum and Bitcoin, and are usually considered valuable inside the gaming world. Still, gamers beg to differ on the worth, as NFT games have come up a lot in recent times.
What is the value of Crypto coins?
As mentioned above, if we compare these native coins to mainstream cryptocurrencies like Ethereum, these in-game coins do not value much outside the Crypto gaming platform. So now the question arises why would someone invest in these coins?
Even though it is acceptable that these coins make little outside the gaming platforms, gaming coins, crypto embeded bats can still be traded for profit on JUMP.TRADE NFT platforms. As the NFT gaming market increases, these coins’ value also gradually increases. For instance, the price range of MANA. Although in the initial stage, the coins cost less than $0.10, in 2021, the price reported was $5.91. Even after a decline in 2022, it sustained at $1.41.
You may consider this to be less, but the price difference from $0.10 to $1.41 was a significant shift. Other crypto coins, like AXS, can be brought up for comparison in price range difference.
However, investing in in-game coins can be a bit risky, as the success of these coins depends completely on the success of the Crypto gaming platform. And if the platform faces a decline, the native currencies will be directly affected.
But this one risk can be minimized with careful research and knowing when to invest. For instance, in case you had invested $1000 into SAND at the start of 2021, you would have made around $34,250 by the end of the year. That said, the crypto coins, be they mainstream or in-game, are subject to market demand.
So the question is, should we invest in these in-game crypto coins? This is completely up to the user’s wish. If the user is a determined gamer, they can proceed as they can earn rare NFTs and crypto coins in a game.
Bottom line
Crypto gaming is on the rise, which can be justified by observing the difference in the price range from the initial state to the current state. There are many gaming coins available in the market. If you wish to invest in them, then proper research of what exactly is your desired result is advisable.
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