Top 5 Gaming based Cryptocurrencies to Invest in
At this point in time, to think that Blockchain has left any industry un-invaded would be downright silly. Though there are some industries still reluctant to give into cryptocurrency, the gaming industry is one that has opened its arm wide. And gaming industry has been using digital currency for almost 10 years now so it only makes sense.
With the rising popularity of blockchain, ICOs went into a rage this year. And the same applied to the gaming-based cryptos as well. And like everyone has kept an eye out for the best cryptocurrencies to invest in, there are gaming cryptos that should be on everyone’s radar as well.
Chimaera is said to be the world’s first blockchain-based gaming platform. The platform wishes to provide users an opportunity to build decentralized multi-player universes. Its trustless off-chain interactions are what makes this platform a promising one. Chimaera employs game channels that can be used for player interactions without requiring a space in public blockchain thereby lowering public usage.
Along with game channels, Chimaera employs ephemeral timestamps to help with project scalability. These timestamps allow the network nodes to timestamp data in order to keep all transactions verified.
And that’s not all this platform offers. It also provides private messaging, selling of games and apps, and social media and community platforms to achieve optimal functionality. Chimaera provides opportunities for gamers to explore new games and for developers to develop and deliver new games to their fans using game coins.
Enjin (Enjin Coin)
With more than 18 million users and 250,000 gaming-based communities, Enjin is among the world’s largest social gaming platform. Recently, Ejin launched its cryptocurrency—Enjin coin—an Ethereum-based token to be used on a platform that allows for the development, distribution, organization, and trading of virtual goods.
In its crowdsale held in October, ENJ raised 75,084 ETH from approximately 18,559 backers. The Enjin platform aims at providing the users the required crypto-backed value for all the virtual goods that they trade. Its long-term goal is to develop a solid framework of open-source software development kits, game plugins, wallets, virtual item management apps, and a secure payment gateway platform.
Another promising gaming-based crypto, Ethbet employs smart contracting and gives its users a relief from registering or making deposits to play. Ethbet is a truly decentralised, p2p, Ethereum-based dicing game that hosts no central authority and works by matching up game players against each other. If you’re looking for more reasons to consider investing in Ethbet, learn about the fact that since it is on the blockchain, all interactions and transactions are transparent thereby manipulation risks are curtailed.
Ethbet held a crowdsale in the month of September and reported a 100% sale of its 7,500,000 tokens available.
The USP of Ethbet lies in its provision of gambling without a house edge i.e. its decentralization. Though its fairly new, Ethbet appears to be a potential gaming crypto.
Another Ethereum-based platform, FirstBlood is a decentralized stage for e-sports that allows users to bet on games without the risk of money transfer, middlemen corruption, and financial regulations. The platform operates on the Ethereum Virtual Machine and is powered by 1ST tokens.
FirstBlood gives the users the opportunity to test their game skills in eSports which are tracked on the smart contract oracles of FirstBlood. The funding of the games is done in a decentralized way with a jury system and a witness.
Witnesses are basically users who run the automated witness nodes. Two random witnesses are chosen to analyze the results of each match being played.
The jury system comes in when a match result is contested and in such a case, a group of juries is selected from the Jury Voting Pool to vote on the match outcome.
FirstBlood hosted its crowdsale in September 2017 and was able to raise $5.5 million. The launch of FirstBlood alpha is scheduled to happen in December which will be followed by alpha community tournaments and formation of regional FirstBlood communities in the first month of 2018.
Another decentralized blockchain-powered crypto platform which aims at revolutionizing the gaming industry. MobileGo is a smart token which allows you to participate and contribute in peer-to-peer match play and tournaments globally—all of which are decentralized.
MobileGo works on the Ethereum smart contract technology and some benefits of this platform include absolute control by players and non-requirement of dedicated mobile apps.
As reported in May 2017, MobileGo became the second biggest ICO at the time after it was able to raise more than $26 million five days before the sale was to end.