What are crypto gaming tokens?
Crypto gaming tokens look to change the way we play and interact with video games.
Many crypto games (such as those below) implement a play-to-earn model where players are rewarded with cryptocurrencies for completing certain objectives in the game. These cryptocurrencies can then be used to buy in-game NFTs or even swapped for other coins to monetise their items.
Furthermore, certain projects allow some level of input/governance to holders of the crypto tokens, giving players an unrivalled say in the future of the project.
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Smooth Love Potion (SLP)
For those unfamiliar with SLP, it is an ERC-20 token on the Ethereum network that enables Axie Infinity players to interact and grow their in-game creatures called Axies.
SLP rewards are earned by the users within Axie Infinity as they progress through the game in the PvE or PvP Arena. Doing so gives players the freedom to solo the game or play with other players online. Importantly, there is also no limit to the token’s supply. But there is a token burning mechanism in place whenever an Axie has been successfully bred seven times to prevent high inflation rates.
SLP serves an important utility in the game for levelling up and breeding the Axies, with each level subsequently requiring more and more SLP.
Render (RNDR)
Another one is RNDR, an Ethereum-based token used to pay for animation, motion graphics, and visual effects rendering in the distributed RNDR network.
Now, if you’re confused about the correlation between RNDR and gaming tokens, keep in mind that a big part of an immersive gaming experience is having stunning graphics and visuals. The Render Network is your all-in-one. From animated movies and online gaming to the crypto metaverse, most popular forms of digital entertainment rely heavily on motion graphics and three-dimensional (3D) visual effects.
RNDR network provides a decentralised solution for rendering projects that allows users to contribute, lend or rent out their idle GPU power in order to help projects render motion graphics and visual effects.
In return, they receive Render token (RNDR), the network’s native utility token.
Wilder World (WILD)
When it comes to Metaverse experiences, Wilder World is set to lead the space with the most visually stunning ecosystem to date.
Wilder World merges different creative industries such as fashion, art, and gaming with 5D photorealistic environments. This is enabled by strategic partnerships, with digital artists and creatives working to create metaverse-ready wearables and items such as apparel, cars, pets, and more.
The WILD token is what governs the Wilder World metaverse. WILD not only powers the ecosystem, but also provides the governance utility for the underlying NFT platform.
Where to buy Crypto in NZ
The display order does not reflect any ranking or rating by Canstar. The table does not include all providers in the market.
| Provider | Fiat Currencies | Bitcoin | Other Currencies | Est. |
| Easy Crypto | NZD, AUD | Yes | 100+ | 2018 |
| Independent Reserve | NZD, AUD, USA | Yes | 24 | 2013 |
| Kiwi Coin | NZD | Yes | No | 2014 |
| Swyftx | NZD, AUD | Yes | 228 | 2017 |
This information is not an endorsement by Canstar of cryptocurrency or any specific provider. Canstar is providing factual information supplied by providers. Cryptocurrencies are speculative, complex and involve significant risks. Canstar is not providing a recommendation for your individual circumstances or in relation to any particular product or provider.
Gala (GALA)
GALA is an Ethereum-based cryptocurrency that is used by Gala Games, a play-to-earn gaming platform that offers the ability to earn and spend GALA Coin in games or to trade it for other digital assets.
You can also trade NFTs in game-platform or via “off-platform” exchanges to earn crypto that can be converted to other digital assets, including cash.
To put it simply, your Gala Tokens are like a currency for your Steam account. They provide several uses, including participation in network governance, incentives for node operators, rewards for players being a part of the games on the platform, and more. Your Gala tokens can also be used to buy NFTs and items from the Gala store.
Illuvium (ILV)
If you’re interested in a game that gives you AAA-quality games, you’ll enjoy Illuvium. Illuvium is an upcoming open-world fantasy roleplaying game that runs on the Ethereum blockchain. It can be accessed through a desktop app, and is supported by a DeFi application.
Players can battle others and collect Illuvials, which have unique characteristics that are represented by NFTs.
The ILV token is the token that will be used to reward players for their achievement in the game. With it, you have the opportunity to participate in the governance of Illuvium DAO. It can also be staked through the ILV buyback system, and someone that stakes the token will get the rewards from their revenue streams.
Takeaways
The synergy and digital ecosystem that crypto, NFTs and the gaming industry share together is part of the reason why it’s a rapidly growing space in the crypto industry. And certainly one to keep an eye on. If you want to learn more about the cryptoverse, hit the button below:
Learn more about cryptocurrency here
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