The blockchain technology boom in recent years has revolutionized the gaming industry and thrown open doors to a new generation of gamers. Though gaming has always been popular in our modern popular culture, most players did not initially consider it to be a source of revenue.
The gaming world kept on evolving to the point that many turned their gaming skills into lucrative careers with play-to-earn games. The time-killing nature of gaming has now transformed into a source of better earnings. Taking the baton from there, now we have something called GameFi, a concept with the potential to change the gaming industry forever.
If you have been closely eyeing the newest developments in the crypto space for a while, you must have come across this term. If not, then let’s define GameFi for you before we proceed with a list of the Top 10 GameFi projects in 2022 that are worth the hype and earn you pretty much good bucks.
What is GameFi?
Gamefi is a fusion of “play-to-earn” blockchain games & Decentralized finance(DeFi). It essentially refers to the monetization of gaming via the Play-to-earn model such that players can extract income and win rewards as NFTs, tokens, and cryptocurrencies. This new concept of gaming has enabled frameworks for player-as-owners rather than the standard player-as-consumers.
GameFi has gained traction in 2021 and is expected to grow into a 2.8 billion industry in next six years as the number of professional and potential gamers is on the rise. While this shift comes at a time when the crypto industry is witnessing a major downturn, the gaming industry is still intact in coming up with new ways to financialize the games.
Undoubtedly, GameFi can be the next big thing in the crypto space. Now, let’s raise the curtain for Top 10 GameFi projects with interesting gameplay and better-earning opportunities.
10. StepN
When we talk about the best GameFi projects for 2022, StepN is the Solana-based game that you should not miss out on. It is trending with a market capitalization of $17.73 million and has attracted users for its unique workout gameplays.
Yes, that’s right. StepN has emerged as the most popular move-to-earn project in the crypto and web3 world. It rewards its users for completing workouts such that the more a player moves around, the more $GST tokens they earn. After making some $GST, you can trade it for other cryptos.
To start earning rewards, you’ll need a pair of sneakers (an NFT) that have various types including walker, jogger, runner and trainer. Different sneaker NFT unlocks higher energy potential in the game. So step out with StepN, flaunt those sneakers, move outdoors, burn energy and earn handsome rewards!
9. DeRace
The ethereum based DeRace is among the best GameFi projects to look forward to in 2022 with its market cap sitting just slightly higher than StepN at $17.87 million. It is based on a play-to-earn mechanism where users can participate in horse races in the metaverse to get rewards.
It is an entirely horse racing metaverse with several breeds of NFT horses possessing unique characteristics. Participating in the race requires a one-of-a-kind NFT racehorse ready in your stable. Note that, you need some $DERC token as entry fee and breeding NFT horses with upgraded traits.
You can also stake $DERC tokens to enjoy legendary rewards on top of your massive earnings from racing and gambling on horses. Once it’s all done, you are ready to begin the ultimate DeRace metaverse journey to make your horse a champion.
8. Gods Unchained
Gods Unchained is an overall best GameFi project with its market cap at $23.27 million. The game offers multiple play-to-earn features and monetizing opportunities to players. It’s a free-to-play competitive trading card game that gives complete ownership over your in-game items. God Unchained is built on the Ethereum blockchain.
That means, players can trade, sell, or use their cards in the way they like. Players must strategically outsmart rivals by creating powerful decks and using combat strategies in order to win and earn rewards.
In Gods Unchained, players can fight for glory in competitive arenas to collect and win cards by playing matches and building the perfect deck for top leaderboards. To begin, you get 140 cards as part of the free welcome so that everyone has various basic decks. As you move along, you can unlock more by playing and participating in tournaments whether you win or lose.
$GODS token can be used to buy card packs from the marketplace, mint card NFTs and participate in governance initiatives. You can even stake $GODS tokens to earn rewards.
7. Illuvium
The race for Top 10 GameFi projects just got interesting with another Ethereum-based game, Illuvium, which has a market cap of $42.74 million. Needless to say, it is one of the best GameFi projects of 2022, famous for its play-to-earn fantasy gameplay based on mythical creatures.
It’s a role-playing game where players can earn rewards by winning battles against opponents or betting on the outcome of other users’ duels. Though it’s free-to-play, it gets much better as you spend money to get some decent Illuvial avatars.
Illuvium gameplay involves exotic and alien landscapes where Illuvium creatures play a vital part. You can even empower your avatar to make it stronger and better whenever you defeat other Illuviums in battle arenas. Players can hunt, capture, sell Illuvials and gather the treasure to make money in the game.
While playing, you get to earn $ILV tokens which can be used to trade collected resources, weapons, equipment, or even Illuvials to other players. $ILV can be staked for passive rewards and to participate in the governance system.
Also Read: 10 Move-to-Earn Apps Trending Right Now
6. MOBOX
MOBOX has utilized the uprising GameFi ecosystem to reward players for their engagement. Using a play-to-earn model MOBOX runs on Binance chain and has secured a market cap of $51.63 million. MOBOX is based on its community-driven platform MOMOverse in which you can yield farms while enjoying NFT-based games to earn rewards.
Although MOBOX GameFi project has a free-to-play model, players need to stake $MBOX tokens to unlock NFTs known as MOMOs. MOMOs are tiered by rarity and are the core of the game. You can buy or rent MOMOs via the NFT marketplace.
Earning $MBOX needs patience. You should be willing to buy rare MOMOs and other in-game items such as specialized battle equipment to increase your $MBOX earning potential. Purchased MOMOs are automatically staked through the MOBOX mining camp and the use of MOMOs doesn’t affect the staking process.
$MBOX can be used to unlock NFTs and can be staked. Once staked, players get veMBOX which is the platform’s governance token. You can start earning straight away with the platform’s games including Token Master, Block Brawler, ChainZArena and NFT Farmer.
5. Aavegotchi
Narrowing the list of Top 10 GameFi projects for 2022, we have Ethereum-based Aavegotchi in the fifth position with a market cap of $53.94 million. The play-to-earn gaming industry initially was monopolized by a handful of companies, but now we have many sneaking their way up to become one of the best GameFi projects.
Aavegotchi is a pet-oriented GameFi project that recently has become a pioneer in the crypto-game industry. It has simple and entertaining gameplay in which you can make money with the help of Aavegotchis or, in other words, pixel pet ghosts. These little pets are hatched from eggs and need the care to thrive.
Aavegotchis can help you earn rewards based on their rarity, but you have to take care of them and treat them well in return! The game is powered by a $GHST token that controls internal game mechanics including buying ghosts, exploring portals and taking care of a pet. $GHST can also be used for staking and participation in governance.
You’ll also need $GHST to take part in “bid-to-earn” auctions. Interestingly, you can also rent an Aavegotchi and collect all the goodies on offer in the Gotchiverse. With this, you’re ready to go on a “cute and fluffy” adventure to earn some money!
4. Splinterlands
Splinterlands has become one of the best GameFi projects with its super active fan base. It stands at $70.4 million in market cap and is well-known for its exciting, intense and strategy-driven gameplay.
This BNB Smart chain-driven GameFi project is themed on making money by collecting and trading cards. The entire game concept involves cards, each of which is an NFT with its own function and value. Players have to build their winning tactics around the traits of each card.
These card NFTs can be bought or sold for the platform’s governance token Splintershard ($SPS) tokens on the marketplace. Other than $SPS, there are two more tokens in the game: DEC tokens and so-called Credits.
While DEC tokens act as rewards and offer you to buy rare assets and exclusive in-game items, Credits are primarily used to buy and rent cards.
You’ll be glad to know that Splinterlands has cross-compatibility with other blockchains such as Ethereum, Tron and WAX.
Fortunately, it’s free-to-play at a basic level and there are also in-game tournaments to take part in regularly. Before you start, choose whether your goal is to make money, play for fun or gather resources.
3. Legends Reborn
Next on the list of top 10 GameFi projects is Legends Reborn which has a massive market cap of $331.25 million. It’s another strategic card game about building decks and taking on all challenges. Legends Reborn is built on the Ethereum blockchain.
In Legends Reborn, players have to amass a collection of cards and creatures which allows them to build, re-build and tweak decks to meet any challenge that comes along the way.
The gameplay involves a unique and distinctive fantasy world, featuring hand-drawn aesthetics as well as a wide variety of player-owned venues, heroes, and creatures.
The player-owned land is linked to NFT card ownership for giving players total control over both their cards and the competition venues. You can lend your decks to other players, and as you play more, you’ll have the chance to earn exciting rewards. This way, you can ultimately establish yourself as a captain of the industry and a lord of cards!
By owning battle venues, you’ll get to earn additional rewards for every match in your venue. To begin, combine creatures and heroes in precise combinations to build a deck and enjoy victory in Tolkhiem’s most magnificent arenas.
2. Axie Infinity
Nearing the ultimate GameFi project, we have Ethereum-based Axie Infinity which is considered the largest and one of the fastest-growing play-to-earn games with a market cap of $1.06 billion.
Many believe Axie Infinity is what changed the whole gaming concept and since then the industry never looked back.
In this, players breed and collect “Axie” creatures which are the main characters of the game. You can collect, battle, breed and trade Axies. The game concept is based on the Pokemon Franchise, but the card system in Axie Infinity makes it a bit different.
While fighting against an opponent in the battleground, players can earn cryptocurrency called “Smooth Love Potion” (SLP). SLP can be sold for money or used to breed new Axies.
The game also has another token called “Axie Infinity Shard” (AXS). AXS tokens are used to take part in voting on intra-platform governance. AXS can also be used for steering to make a profit of around 40% per year. Moreover, you can also make in-game payments via AXS tokens and can purchase property, in-game items, and creatures.
1. The Sandbox
The Sandbox tops the list of best GameFi projects in 2022 and has a market cap of $1.29 billion. This game is built on the Ethereum blockchain. Based on a play-to-earn concept, it is an open-world game much like Roblox or Minecraft yet the stark difference is that it is metaverse-powered.
Players can design their own games, build virtual worlds and even organize adventures within the platform. Everything that is collected, built, or earned can then be sold for a profit. Players can place their assets on a marketplace and monetize them to earn a passive income.
The project’s core resource is LAND, a piece of virtual land in The Sandbox Metaverse. Each piece of LAND is an NFT that symbolizes virtual land ownership. LANDs are where participants can build their own worlds, scenes, or stories, and can even forge and design their own assets.
The Sandbox has its own token $SAND which can be used to buy assets on the marketplace and can even purchase exclusive tickets for events in the metaverse. Above all, players can socialize and hang out with friends in their LAND or can also choose to expand to make it an ESTATE, carnival, an ancient city, basically anything.
For a reason, The Sandbox is proudly reigning at top of all other GameFi projects out there!
