Video gaming is one of the biggest entertainment markets in the world. According to mordorintelligence.com, the gaming market had a valuation of $198.40billion in 2021. An outstanding number to say the least! What correlates heavily alongside the video game industry are cryptocurrencies. With the rise of blockchains using non-fungible tokens (NFTs), video gaming has become much more than just playing games.
Gaming has transitioned from a realm of escapism to a digital marketplace, where trading, exchanging, and purchasing goods have become the new normal. Although there are policy dilemmas regarding the use of NFTs in gaming, it is a feature that provides an opportunity for users to effectively optimise the marketplace. With that being said, here are three cryptocurrencies that could be potential game-changers to the Metaverse below.
Pac-Man Frog (PAC)
The newly founded Pac-Man Frog (PAC) is a project that began on 29 March 2022. Despite it still being in its presale stage, it is discussed highly amongst crypto experts for their ambitions to contribute to the development of Web 3.0. The blockchain network has expressed its plans to centre around gaming, specifically focusing on decentralized finances (DeFi).
In their whitepaper, they have explained how they aim to target NFT developers, to help provide new methods of trading, network opportunities, and having the ability to collaborate with other crypto participants. This sentiment continues to be expressed throughout their website. In the ‘What we do’ section of Pac-Man Frog’s website, they express ambitions to be the only marketplace that will prohibit gamers to explore, purchase, and distribute GameFi NFTs. Their mission does not end there. If PAC’s plans come to fruition, this facilitates gamers to make money whilst playing – giving a further incentive to get involved with Pac-Man Frog (PAC).
Similarly, ApeCoin (APE) is another new cryptocurrency that centres itself around video gaming. Since its launch on March 16, 2022, the decentralized network also plans to contribute to the development of Web 3.0 by being a community-driven cryptocurrency. This is done through the incorporation of decentralized autonomous organisations (DAO), which permits ApeCoin (APE) users from making decisions on the currency’s partnerships, developments and regulations.
They take their community-driven ethos a step further by allowing members to personalise a ‘bored ape’, which is one of the network’s distinct features. On May 4, 2022, entrepreneur Elon Musk changed his Twitter profile picture to a compilation of bored apes. According to Coinbase, ApeCoin (APE) surged by 19% after Musk’s social media action! If one of the world’s richest people is taking an interest in this currency, it would probably be wise if you did too.
The Sandbox (SAND)
The Sandbox (SAND) cryptocurrency is currently in the top fifty most profitable blockchains according to coinmarketcap.com, being positioned thirty-ninth. The network describes itself as a utility token used in the Sandbox ecosystem. For those who don’t know, The Sandbox is a video game for Microsoft Windows and mobile devices – which has now transcended into blockchain technology that allows players to monetise their in-game creations. This is arguably one of the best strategies to entice users to your cryptocurrency – by allowing them to financially gain in a virtual realm. There is no doubt that The Sandbox (SAND) is one of the most impressive gaming cryptocurrencies in the industry.
More information on Pac-Man Frog (PAC):