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The rise of crypto gaming post-pandemic.

Highlights
  • The pandemic-fuelled growth in the US$173 billion gaming industry and US$3.3 trillion cryptocurrency sector has given rise to ?crypto gaming?.
  • Decentraland, a 3D virtual reality platform on the Ethereum blockchain, has the largest market cap at US$9.16 billion.
  • The total market cap of the top 5 crypto gaming tokens is US$31.85 billion.

What happens when you combine the US$173 billion gaming industry with the US$3.3 trillion cryptocurrency industry? You get crypto gaming.

What is crypto gaming? According to the Financial Express, crypto games are video games that run on a cryptocurrency network and include a completely or partially distributed ledger architecture, providing players with verifiable ownership over virtual products contained in games.

The popularity of gaming and cryptocurrency has surged in the last two years as the combination of making money while playing games proves to be quite the incentive for many in the online world.

With the likes of Sony, Nintendo and Microsoft boasting gaming revenue over US$10 billion each, developers are using the rise in crypto and gaming popularity to create in-game products, characters, collectables and more.

Decentraland, a 3D virtual reality platform running on Ethereum blockchain that allows users to buy and own virtual property, is the largest crypto gaming token with a market capitalisation of US$9.16 billion.

The second-largest crypto gaming token Axie Infinity, a fantasy land owned, operated and controlled by players who live, work, and play in the blockchain land of Axie, has a market cap of US$8.40 billion.

The total market capitalisation of the top five crypto gaming tokens is US$31.85 billion.

The permissionless, boundaryless nature of crypto gaming makes it highly attractive for play-to-earn gamers from all over the world who simply need an internet connection to join the party. And with the emergence of the metaverse and other virtual worlds, the sky's the limit for crypto gaming.