9 Best Crypto Gaming Coins for 2024

In 2024, gaming is the most popular segment in crypto. Some of the best gaming coins to invest in include: SAND, AXS, MANA, ILV, GOG, PYR, IMX, RON & WEMIX.

Written by: Anatol Antonovici   |  Updated February 5, 2024

Reviewed by: Mike Martin

Fact checked by: Ryan Grace

gamer

Blockchain gaming is one of the most active sectors in the crypto industry, and the recent recovery of non-fungible tokens (NFTs) and the broader crypto market promise a great year ahead, especially as the crypto gaming industry pays more attention to user experience and gameplay.

In this article, we discuss the best gaming cryptocurrencies.

Table of Contents

🍒 tasty takeaways

  • Blockchain gaming accounts for a third of all dapp activity, exceeding DeFi and NFT activity.

     

  • While Ethereum still dominates the space, there are many game-oriented blockchain solutions, including ImmutableX, Ronin, and Wemix.

     

  • Some of the most popular games offering utility tokens are The Sandbox, Axie Infinity, and Decentraland, each of which has a market cap of ~$1 billion.

Summary

Token Blockchain Category
The Sandbox (SAND) Ethereum Metaverse
Axie Infinity (AXS) Ethereum NFT Game
Decentraland (MANA) Ethereum Metaverse
Illuvium (ILV) Ethereum Fantasy Battle Game
Guild of Guardians (GOG) Ethereum Multiplayer Fantasy Game
Vulcan Forged (PYR) Ethereum Multiplayer Fantasy Game
ImmutableX (IMX) Ethereum Layer 2
Ronin (RON) Ethereum Sidechain
Wemix (WEMIX) Wemix Layer 1

Gaming Utility Tokens

The following utility tokens relate to individual gaming projects:

1. The Sandbox (SAND)

  • Name: The Sandbox
  • Token: SAND
  • Blockchain: Ethereum
  • Type: metaverse

SAND is an Ethereum-based token powering the Sandbox ecosystem, which represents a virtual world where gamers can buy virtual plots of land (sold as LAND NFTs), develop experience experiences, and share their stories with the world. Most Gaming coins fall under Ethereum. This is because bitcoin can not execute code (smart contracts). 

Aside from the metaverse, the ecosystem includes a decentralized autonomous organization (DAO), a game-maker studio, and a marketplace where players can trade NFTs like LAND and all kinds of in-game assets, from avatars to equipment.

SAND, a $1 billion market, has multiple use cases, including payments and governance.

Source: Medium

2. Axie Infinity (AXS)

  • Name: Axie Infinity
  • Token: AXS
  • Blockchain: Ethereum
  • Type: NFT game

Axie Infinity Shards (AXS) is an ERC-20 token standard associated with the blockchain-based game Axie Infinity, in which players can collect, raise, and battle Axie creatures and create a virtual world for them.

axie infinity play

Source: YouTube

Inspired by Pokemon, the game uses NFTs to represent Axies, land plots, Axie skills, and other in-game assets.

Developed by Vietnamese studio Sky Mavis, the ecosystem includes several games, including Axie Infinity: Origins and Axie Infinity: Homeland.

AXS is used for services, governance, staking, rewards, and purchases on the native marketplace.

3. Decentraland (MANA)

  • Name: Decentraland
  • Token: MANA
  • Blockchain: Ethereum
  • Type: metaverse

Decentraland is an Ethereum-based virtual world that shares similarities with The Sandbox. Here, users can buy LAND and other NFT-based in-game assets with MANA, the native coin that also offers voting rights.

Unlike the Sandbox, which represents a 2D map with land plots for 3D experiences, Decentraland represents a 3D virtual reality, as seen below. 

Recently, the ecosystem’s Foundation released a manifesto outlining 2024 plans, setting the stage for future VR and mobile versions. The upgrade of the ecosystem may benefit the MANA token.

4. Illuvium (ILV)

  • Name: Illuvium
  • Token: ILV
  • Blockchain: Ethereum
  • Type: fantasy battle game

Illuvium is an Ethereum-based open-world fantasy battle game built on the ImmutableX layer 2. It promotes itself as the first AAA game on Ethereum and the world’s first Interoperable Blockchain Game (IBG) universe.

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The Illuvium world is populated by alien creatures called Illuvials, who can be captured and battled.

Source: Illuvium

The ecosystem is run by a DAO and uses the ILV token for governance and transactions.

5. Guild of Guardians (GOG)

  • Name: Guild of Guardians
  • Token: GOG
  • Blockchain: Ethereum
  • Type: multiplayer fantasy game

Guild of Guardians, a multiplayer fantasy game on ImmutableX, is a mobile RPG that employs a play-to-earn game model (P2E), rewarding users for numerous activities. Players can earn items in the form of NFTs and sell them on the marketplace. They can also earn the native token, GOG, which fuels the ecosystem.

Players have to progress through dungeons by completing the challenges. The earned rewards can be used to acquire and improve heroes and create equipment.

Guild of Guardians is still developing and will fully launch in 2024.

6. Vulcan Forged (PYR)

  • Name: Vulcan Forged
  • Token: PYR
  • Blockchain: Ethereum, Polygon
  • Type: MMORPG

Beginning as a P2E game, Vulcan Forged has evolved into a comprehensive gaming ecosystem featuring its own layer 1 chain.

The flagship game is VulcanVerse, a fantasy MMORPG where users can buy and upgrade land and earn NFTs. The main types of assets are Land, Vulcanites, Gods, and Items.

The utility token of Vulcan Forged is PYR.

The ecosystem includes gaming studio Vulcan Studios, a native layer 1 chain called Elysium, and the upcoming Metaverse-as-a-Service project called MetaScapes.

Gaming Utility Tokens: Comparison

Gaming Infrastructure Coins

While Ethereum has been dominating the gaming and NFT space, the sector has become more diverse thanks to multiple specialized scaling and infrastructure solutions designed to improve performance.

7. ImmutableX (IMX)

  • Name: ImmutableX
  • Token: IMX
  • Blockchain: Ethereum
  • Type: Layer 2

ImmutableX is a layer 2 chain designed to scale Ethereum and improve the minting and trading of NFTs. It uses zero-knowledge (zk) proof technology to settle transactions outside Ethereum to achieve greater scalability and lower costs.

ImmutableX is dedicated to Web3 gaming, offering a wide range of products, including Unity and Unreal SDKs for game development, blockchain data APIs, and a passport to improve onboarding.

At the time of writing, the IMX token has a market cap of $3 billion, ranking among the top 30 largest cryptocurrencies.

So far, over 150 games have been developed through ImmutableX, including Illuvium and Guilds of Guardians. 

8. Ronin (RON)

  • Name: Ronin
  • Token: RON
  • Blockchain: Ethereum
  • Type: Sidechain

Ronin is an Ethereum-compatible chain developed by Sky Marvis, the creator of Axie Infinity. The blockchain is focused on video gaming and aims to address Ethereum challenges like high gas fees and slow transaction speed.

The network can process up to 100,000 transactions per second (tps) thanks to its Delegated Proof of Staking (DPoS) consensus mechanism.

Ronin has emerged as an important player in Web3 gaming, demonstrated by the recent migration of the popular game Pixels from Polygon.

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Ronin’s native coin is RON, which has shown tremendous growth since October, reaching a market cap of $930 million.

9. Wemix (WEMIX)

  • Name: Wemix
  • Token: WEMIX
  • Blockchain: Wemix
  • Type: Layer 1

Wemix is a blockchain-oriented gaming ecosystem that connects developers, gaming brands, and stakeholders.

The EVM-compatible chain relies on a stake-based Proof of Authority (SPoA) consensus algorithm that enables it to process up to 4,000 tps. Its DAO, called 40 Wonders, consists of 40 node council partners. In the future, Wemix plans to discontinue its 40-partner model and let everyone participate in governance.

Wemix provides multiple products, and its flagship offers are Wemix Play, a blockchain platform for gamefi projects, and NILE, a Neith Protocol-based app for NFTs. As of today, Wemix Play hosts over 40 games, while NILE hosts 11 NFT collections.