Gaming Altcoins in 2021
During this bull market it’s imperative to ride the hype of various plays to capture as many gains as possible. Two of the hottest sectors in crypto right now are gaming and NFTs. I gave 3 NFT buys for March here where my CHZ and ENJ calls both skyrocketed. The way I see it, NFTs are very much in their early phase with their long term use case yet to be fleshed out and determined. This means that in the short term, NFTs and NFT related projects will continue to soar and be overvalued, this will be accompanied by a massive crash most likely later this year into next and then stagnant growth for a few years. In the long run however, NFTs will be massive and will be integrated in every aspect of our digital lives, we’re just not sure of what that means yet.
Gaming on the other hand will have a similar rise this bull run but less of a steep drop in the following years as gaming will still remain prevalent as the crypto crash shouldn’t affect whether or not people are playing video games. As the gaming industry grows, so will the NFTs and ecosystems within these games and so getting in on these ecosystems now, decades before their peaks, will be highly profitable.
This list is comprised of 3 gaming picks that I believe have the opportunity to be highly profitable in this bull run but not necessarily in the long term. All long term holds are indicated in fundamental analysis which you can find on the crypto homepage. Do your own research!
I discussed Enjin in my “Top 3 NFT Tokens for March 2021” but it definitely deserves a mention in this post as well. At the time of writing, Enjin is the biggest and most prominent gaming crypto by market cap, sitting at a 2.1 billion valuation. The platform allows developers to create and manage virtual goods on the Ethereum blockchain and has even launched a software development kit to help developers create digital assets to be integrated into games. Enjin is and will continue to be a dominant player as they have a well established platform with partnerships with massive games like Minecraft, as well as the use case will continue to grow as NFTs in the gaming world have barely reached 1% of where they are going to be. I foresee the future of gaming to be one in which all multiplayer and singleplayer games alike have ecosystems of collectible items(NFTs) that can exchange with other players in a marketplace but also transferable from game to game(not all items). As of right now Enjin looks to be leading the charge for this future and therefore I’m extremely bullish on them. 2.1 billion valuation appears to be a very cheap price for the future of gaming collectibles.
Verasity provides reward based video technology to game developers and publishers worldwide. Their patent pending technology offers tokenized rewards and loyalty incentives within the video streaming platform. This system creates an economy between the audience, advertisers and video game developers, an economy that is mutually beneficial to all participants. Verasity has done a crazy run recently, going from one fifth of a cent in early march to almost 4 cents at the time of writing. The project is currently valued at 151 million USD but I foresee this being at least a $1 billion ecosystem by the end of this bull run but I suspect this will go much higher than that.
Verasity’s technology is available for over 500 games as well as the company has several products including: Verasity.tv, Gamestore, VeraWallet, Triviata, Game App and VRA Splash App. Additionally, Verasity has software development kits for multiple platforms including Youtube, Twitch, Vimeo, JWPlayer, Brightcove, iVideoSmart, Kaltura, VideoJS, Flowplayer and Ooyala. They are also currently working on Proof of View, I’m not aware of the details of how this would work though, to be researched and discussed in a future blog post.
Overall, video streaming is a rapidly expanding industry especially within the video game sphere in relation to watching individuals play video games as well as esports. Capitalizing on this growth as well as providing incentives for viewership sounds like a win win for all parties involved and if executed correctly can be a huge business. I’m extremely bullish on VRA for this bullrun but more researched is needed to recommend this as a long term hold. Stay tuned for a potential fundamental analysis.
This is the most skeptical and risky of the 3 projects I’ve posted here so tread with caution with ChainGames. CHAIN looks to be the go to blockchain ecosystem for competitions and contests in video games. Sports betting is a huge industry that has been growing rapidly in the past 5 years with massive companies like DraftKings leading the way. As of right now, there isn’t a clear solution or implementation for the world of video games. Esports has been rapidly growing but there aren’t any great platforms for esports betting or even betting on amateur games or even matches that streamers are playing.
Right now in gaming, you either make money by being a content creator or a professional player. ChainGames will help bring more innovative ways to make money through gaming and allow individuals to create wealth through their ecosystem. The project has partners with Atari, Bad Crypto Podcast and TrustSwap as well as has games like Call of Duty Warzone, Madden 21 and Fifa21 available to play through the platform. I’m skeptical of this project as it’s still in very early development with very little proof of concept at this point in time. The reason for this to be on my watchlist is because all it takes is partnerships with a few games, more users or simply an exchange listing(currently not available on any main exchanges). Definitely a high risk crypto, high reward is yet to be determined but I got in at 80 cents(currently down around 30%).
Although gaming doesn’t fit in with my other investments which all look to make the world a better place and drive society forward, it’s nonetheless an amazing opportunity for investment in the following decades. As the real world becomes more and more integrated into the digital world, gaming altcoins will continue to grow and make other forms of entertainment obsolete. There are plenty of phenomenal video game publishers to invest in but Crypto is a solid place to start as well as gaming merging with crypto is just getting started. These 3 gaming altcoins all have the potential to be main players in the crypto-gaming sphere so definitely keep an eye on them in the following months to years.
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