A lot of people are speculating that gaming cryptocurrency, along with nfts, stand to benefit the most from the metaverse actually taking shape the current market. Capitalization of all the metaverse coins right now sits at around 25 billion or just around less than one percent of the entire cryptocurrency market cap. Now, in my opinion, this whole ecosystem is very similar to what mobile games and facebook games were back a decade ago. For those of you that dont know or are new to the channel in my prior life, i used to be a financial advisor, but i also worked in mobile games for the bulk of my career spending time at game studios like kabam and machine zone, where i Worked for three years of monetizing, the top grossing titles of game of war and mobile strike. In addition to that, ive been gaming, my entire life, starting with counter strike beta 2.0 thats. How old i am plus playing endless hours of diablo, 2 and world of warcraft throughout my college years. I feel like i have a pretty good grip on gaming and so with todays video. I actually wanted to discuss the current state of crypto gaming. What i found so far and well actually go over some of the projects that i think are respectable for what the current landscape looks like. I also want you to know that i dont own any of the gaming tokens were going to be talking about today, and my goal on this channel is just to arm you with enough knowledge so that you can have both sides and make a decision for yourself.

In essence, im just teaching you how to fish instead of giving you the fish. So if you want to learn how to fish just hit the like button and join 246, other self taught fishermen all right, okay. So what is the current state of crypto gaming? Currently were at the very early stages of crypto gaming, if you just take a glance at the current landscape, a lot of the games are really adolescent and follow the play to earn model thats, where you play a video game and you earn assets or tokens within The game that will have real life value – these games are usually pretty simplistic in nature. You complete a set of tasks or you do a certain action in a game such as win a battle and youll earn tokens. The tokens can eventually be converted to real life dollars, or they can be reused in the game for other in game assets, but in general, from my research, the games usually arent worth it in terms of an hourly rate. An example of a play to earn game is axe, infinity, one of the largest gaming kryptos to play. You actually need to have a team of three axes to even start playing, thats, fine and all, but it could cost you an initial buy in and the amount of time it takes to break even on that initial investment could take longer than you expect. Now. There is some money to be made by playing a play to earn game, and many early adopters actually make quite a bit of money, but you have to be really early and invest a lot.

I actually dont think play to earn games will last 5 or 10 years down the line as crypto gaming evolves, because usually the communities that play them try to game the system with bots and duplicate accounts. Also, mass adoption in countries that are willing to put in more time for less rewards will just bring the in game economies down just in the name of earning currency. If i were to make an analogy about the current state of crypto gaming, it really feels like were very reminiscent of the time of years 2010 to 2012, when facebook games were really popular and everyone was playing farmville. The game mechanics just arent that sophisticated right. Now the number of things you can do in many of these games is limited and we have a long way to go before the true power of the blockchain and the metaverse are realized. There is a lot of room for growth in crypto gaming and currently a lot of vc money is going into this space, leaving a lot of room to capitalize all right. So what are some of the things that we should be looking for in a potential crypto gaming project? Well, one of the biggest things im noticing within the crypto gaming space. Is that theres actually a huge mismatch between the actual number of gamers and the token holders? Now, what do i mean by this? I mean that theres, a difference between who actually plays the games and use these tokens versus the people that are just speculating on the token and thats.

Basically, what you should be paying attention to, because, even though most of the crypto community is buzzing about these games, what ive actually found is that, in a lot of cases, theres a large amount of speculators on the token and not many people actually using these tokens And that can actually give the illusion that these games are doing better than they actually are. When i looked into the popular crypto game, decentraland, for example, i was able to find their number of concurrent playing users. It showed me that the total number of users playing at any given time was right between 500 to 900 users. Now, while these are concurrent users and not daily active users, thats still not really a lot. If you compare to the number of people that actually hold the mana token, the mana token is decentralands native token required for transactions and according to coinmarketcap, there are over 129 000 wallets with mana token recorded so thats an issue im seeing right now you have most People seeing these coins on a market cap list like this one and wanting to buy it as an investment instead of for actual in game utility thats, something that you should be aware of whenever looking at a crypto gaming project, which is, are there actually players playing? This game: this is important because it can be a proxy to tell you how good the gaming ecosystem is and how valuable the token will be in the future.

That brings me to my next point. The game actually has to be fun. The only way that crypto gaming becomes mainstream in the future within the metaverse is, if its somewhere, where players want to spend a lot of their time. I said this in the last video, the more time you spend somewhere the more immersed you are having a good time thats, where the money is that will actually make a crypto gaming business model work. Weve already seen this happen in some of the nft communities. Online people are spending easily in the five figure range and sometimes even the six figure range to buy unique nfts that give real life perks and pride of ownership. In the case of board api club, each of these nfts will cost you around 150 000 at this time. The more that you can keep a person involved, the better the monetization is going to be, and if the product is good enough, then thats when the games are going to go mainstream and thats, when the metaverse will actually flourish. All right lets talk about some projects. This is the fun stuff right here, so three gaming projects really came to mind that were respectable and could really benefit from the metaverse effect. Will these projects still be around in five or ten years im, not really too sure, but when i was doing my research, these were the three projects that stood out to me the most, and i really just wanted to share them with you again, im not involved In any of these tokens or projects im just providing information, if you do want to see what i actively buy and sell thats actually in my patreon, which ill link below – and i just opened up a few more spots in there all right, so the first project That i found pretty interesting was engine coin.

Engine coin is a smart gaming cryptocurrency that allows game developers to mint or create nft gaming items and assign value to digital assets, its not really a game, but looking to be a service or platform for other games to build off of, for example, if you create A game and you dont have blockchain capabilities. You could use engines platform as a plug in to enable your game to have digital assets as nfts. If you want to assign value to an in game item, perhaps a quest reward, nft sword or some sort of cool nft armor, you can do it with engine coin. This is pretty cool, because now the digital items actually have real world value. Instead of just looking really pretty. Last year it was announced that minecraft servers and engine actually have an integration where you can create a minecraft server that will deliver ethereum based assets to those players through something called the engine craft plug in and now minecraft can actually support cryptocurrency, where it couldnt before Along that same line of thought, engine actually streamlines the entire payment process. So, rather than going through the payment processors developers can now charge for features using cryptocurrency rather quickly. So i think thats pretty interesting, which is that engine could be the place where games go. To get their in game currency integrated and easily set up. That means their value is already being used and practical in todays world already, and they actually have the potential for staying power in the future if other games are in need of a plug in blockchain service.

Upon stalking, their exec team on linkedin, many of them have been doing this since 2009, with no prior experience listed so that doesnt tell us much one of their co. Ctos did work for intel as well as some other prominent companies, but theres really not much to suggest that their past experiences helped out with engine. But since engine is not a game. Im not really too sure that matters that much when it comes to game, design and development. If you want to invest in engine, you can buy their token enj, which also gives you token governance by the way, which means that you get to vote on changes to the network. By being a holder, governance tokens are like being a shareholder of a stock. Now there are some other methods to stake your engine tokens as well and ill leave an article below with everything you need to know if youre interested in doing more reading afterward the next gaming crypto i found really interesting – was indeed decentral land built on the ethereum Blockchain decentral land is one of the first, fully decentralized virtual worlds, where you can purchase virtual plots of land and build your own environment, such as theme parks or casinos using nfts sidenote. It kind of does look like second life, which was the game from a decade or so ago. Anyway, by integrating cryptocurrencies users can then monetize these environments, for example, through decentralands currency mana users are able to gamble in virtual casinos and even work for the casino.

In return for mana youre also able to buy different skins and accessories for your character with the mana token as well. The land element is also pretty interesting and very popular, as decentraland has already sold more than 28 million dollars for virtual land with an individual piece of land selling for 180 000 land parcels are extremely limited and quite expensive in this game and the cheapest one that I could found was actually on openc for a whopping 10 000 us dollars. Now. Personally, i dont love the game since its a browser, game and the graphics seem a little bit outdated, but i can see where it has utility, because many popular nft projects want to have a place to display their nft art within the virtual world and decentraland. Pretty much offers that in some ways this could be the very early rumblings of a virtual world where we might be able to visit one day as part of the metaverse virtual reality experience. The team is comprised of a co founder named ari milik and hes teamed up with a lot of big names in the industry, such as sam bankman freed, the founder of ftx, a cryptocurrency exchange, as well as celebrities, like ashton, kutcher, to raise funding and develop it. Even further quote: hes joined by former decentralian compatriot thor alexander and a founding team that includes key players from games such as wow call of duty and league of legends. Now they are trying to innovate and make a desktop version of decentraland.

But there is still a lot of risks, including the fact that not many people play the game, as is still you can either invest in decentraland by buying a plot of land or just buying their token mana. The next gaming project id like to talk about is sandbox its very similar to decentraland, in that its a virtual world built on the ethereum blockchain sandbox really reminds me of roblox a little bit. You can use the editor software to build nfts and then sell them within the marketplace portion of the game. There is also a game editor in which you can make minigames yourself. You can then purchase in game assets using their native token sand. The key difference between sandbox and decentraland is that sandbox was actually a game that was launched in 2012 on tablets and mobile devices and had roughly 1 million active users from the years of 2012 to 2016.. It generated a total gross revenue of 5 million dollars and 5 000 new players per day every single day, while that figure sounds impressive. 5 million dollars in about 4 years is literally really really bad, as some of the top grossing ios games can make that in one black friday or christmas high revenue day, sandbox kept going and iterating and in 2018 they actually launched the current iteration of sandbox. On the blockchain, i think a positive takeaway here is that the games already been around for a while, so theyve already survived and are really in a great position to continue development for the years to come.

Thats, especially true after they raised 93 million dollars to grow. The sandbox nft metaverse, the nft space, has really blown up sandbox, as you can see with the statistics sheets right here, and the team seems competent with even the co founder of xbox as an advisor as well as a partner from the cryptokitties team. Im pretty excited to see what happens with sandbox moving forward and as the metaverse becomes more and more realized. Of course, you can always invest in the blockchains powering supposed nft games in the future as well such as solana wax ethereum and more.