Top 5 GameFi Tokens to Collect in 2024 – TradingView News

GameFi tokens are gaining real momentum as the blockchain industry peaks in 2024, driven by bullish sentiment around leading cryptocurrency Bitcoin.

There are good reasons to think that next year could finally see the industry emerge from a long and dark winter that began in early 2022, and while Bitcoin will likely lead the charge as always, the blockchain gaming segment is also holding a true promise in.

The name GameFi is a combination of “gaming” and “finance”, and these tokens are the fuel that powers a new and exciting generation of so-called play-to-earn games, where players are not only entertained, but can also earn real value from the hours they play. GameFi tokens can be both traditional crypto and NFTs, and provide a way for games to monetize their activities.

What are GameFi tokens for?

These digital assets play a number of roles in video game ecosystems, acting as utility tokens or functional tools that facilitate transactions for in-game purchases, weapons and character upgrades, and access premium functionality. They form the basis of the in-game economy, drive the game experience and provide rewards to players.

Other use cases of GameFi tokens include governance, with players required to hold tokens to vote on democratic decision-making. Because blockchain games are decentralized, the future direction they take is often decided by their communities rather than the development team, with players voting on key issues and suggestions. The amount of tokens a player has is directly proportional to the weight of their vote, so for anyone who cares about the future of the game, keeping as many as possible to have their say is essential.

GameFi tokens can also be tradable assets, with many of them available to buy and sell on the world’s leading cryptocurrency exchanges, offering great investment opportunities. The liquidity these tokens accumulate ensures that the virtual in-game assets have tangible value. Finally, a good number of blockchain games also support staking and yield farming, allowing players to support the underlying network and earn a passive income for doing so.

The most promising GameFi tokens to watch in 2024

SPARK

The world’s most popular metaverse platform, Upland, wants to develop its economy with the launch of Sparklet, a new utility token for creators to build within its digital environment.

Known simply as SPARK, it is a new digital resource that differs from most other GameFi tokens. After next year’s token generation event, it will be hosted and traded on the Ethereum blockchain, giving users a true sense of ownership.

Unlike other GameFi tokens, users do not need to spend their SPARK. Instead, they are required to put out signs as they build, with the exact number determining how long it will take until those buildings are completed. As long as the user has invested SPARK, construction will progress, and once finished, their SPARK will be returned to their wallet for a new project.

In Upland, buildings will be priced in units called Spark Hours. As an example, if a building costs 1,000 Spark Hours and the user expends exactly 1 SPARK, it will take 1,000 hours for that building to finish. If they use 2 SPARKs, that time is cut in half, to just 500 hours. Users can stake as many SPARK tokens as they want to speed up building.

This explains why SPARK is so eagerly awaited. This is the most important resource for world building in one of the most populated metaverses in the world today, and it will also have additional utility. For example, users may be required to hold SPARK to join community projects or create NFTs, produce 3D map assets such as cars and decor, and other use cases. You can read more about its usefulness in the Spark white paper.

By launching SPARK on Ethereum, Upland becomes even more decentralized, with its players soon able to trade its most valuable asset in liquid markets. The token has been carefully designed to ensure that there will always be supply and demand. For example, some will want to speed up their construction schedules and to do so they will need to acquire more. Others who have finished building may want to sell their SPARK and effectively cash out. Creators and brands may also need Spark to increase or decrease their manufacturing capacity in Upland. Developers can also create demand for SPARK by introducing new utilities for it.

RIA

RIA is the native token of Calvaria: Duels of Eternity, which is a play-to-earn battle card game where players collect NFT-based cards and battle with others for rewards. The game is exciting and players have multiple ways to win and earn rewards, including by redeeming RIA tokens.

Players can use RIA, the in-game currency, to improve their decks of battle cards by acquiring new and unique ones, as well as power-ups for their existing cards. The game isn’t all about luck though, as every battle has an element of strategy. For example, players can combine two cards of similar strength to create one that is much more powerful.

There are numerous resources in the game that players can acquire, either by winning battles or buying them with RIA, which is the main reward token. Besides using these resources to improve their decks, players can also trade them on secondary markets, generating a passive income stream based on prolonged play and the number of wins they achieve.

Users can also redeem their RIA tokens to earn daily rewards. In addition, by amassing a large stack of RIA, players can increase their voting power and ensure that their voice carries more weight when participating in democratic governance. Whenever someone makes a proposal to change or develop the game or its ecosystem, RIA token holders are entitled to vote on that proposal to decide whether or not it is implemented.

There is good reason to think that there will be a lot of demand for RIA in the not too distant future. The battle card game genre is incredibly popular in the blockchain gaming space, and Calvaria is similar in many ways to games like Splinterlands and Gods Unchained. But, if anything, it’s even better, going beyond what those games offer with its mobile gameplay, 3D characters, and solo-play story mode.

ARTY

Artyfact sits at the forefront of the GameFi revolution, as a platform for creativity and passion that also enables participants to generate real value. After launching its first playable demo in November 2022, the game has since become one of the fastest growing metaverses. Built with the Unreal Engine 5 to ensure players are immersed in stunning graphics, it’s an open world that hosts numerous P2E games and virtual events.

The unique gaming experience, which consists of multiple game genres, social interaction, virtual shops and events, is powered by its native token ARTY, which is used to buy and sell digital assets and for management. Within the game, players have many opportunities to earn rewards in ARTY tokens based on their achievements and performance.

ARTY has tons of utility, allowing holders to participate in virtual events within Artyfact such as eSports tournaments, concerts, fashion shows, and NFT art exhibitions. ARTY is also used to purchase accessories such as unique characters, armored vehicles, jetpacks, sneakers and even weapons to kill their opponents in games.

The big draw of Artyfact’s metaverse is its high-quality graphics, putting traditional metaverse platforms like Decentraland and The Sandbox to shame. By combining ultra-realistic immersion with high-quality gameplay and a play-to-earn model, Artyfact builds a more engaging world for gamers, where players will enjoy the thrill of earning ARTY rewards instead of seeing it as a chore, just like the case with older games like Axie Infinity.

In addition, Artyfact also provides mechanisms for influencers and brands to interact with their audiences in new ways, with possibilities such as collaborative games, virtual merchandise creation, event sponsorships and more.

ELSE

Another dynamic metaverse game is Battle Infinity, which is all about one-on-one and every man fighting for himself in a series of different environments. The game offers comprehensive P2E functionality, with NFT-based leagues, playable NFT characters, daily rewards, trading and strike features.

Inside the Battle Arena, players can access a virtual world that uses Ethereum smart contracts to know each game character and their accessories.

The flagship offering within Battle Infinity is the IBAT Premier League, an NFT-based fantasy sports league that utilizes IBAT. Players can join the IBAT Premier League by purchasing NFTs that allow them to compete in community tournaments and build fantasy sports teams. Users can also whitelist their NFTs and trade them on the platform’s internal Battle Market.

Players can take advantage of diverse income-generating opportunities, including striking for high APYs and interest. Battle Infinity’s strike feature is unique as it offers both solo and duo play opportunities, allowing players to earn between 12% and 25% APY by securing its protocol. Currently, more than $4 million worth of IBAT tokens are currently locked up in the protocol, reducing the circulating supply and increasing demand.

STAR

Star Atlas is a space-themed metaverse game that bills itself as the “future of reality.” It is built on top of the Solana blockchain and takes place in the year 2620. It is developed with Unreal Engine 5 and boasts extremely immersive and realistic graphics that give it the look and feel of any AAA game.

It is a grand strategy game where players are tasked with exploring the universe and fighting each other to conquer new territories and gain political dominance, amidst a player-driven economy. Each player joins one of three factions – humans, androids or aliens – to help it fight for influence against the other two.

STAR, the native token of Star Atlas, sits at the heart of its virtual economy. To ensure dominance, players must mine and trade for resources. Mining minerals and ore from new planets can be a lucrative career, but they will need to secure their trade routes to ensure they are paid for those resources and earn valuable STAR.

Other uses of STAR include buying and upgrading spaceships, which is done using resources or by buying them directly from other players via the in-game market. There are also collectibles ranging from vehicles to characters, wearable accessories, equipment for ships and vehicles and even avatar posters.

Users will also want to build structures on the land they control, which can only be done by lighting STAR. Of course, Star Atlas also has a system of democratic governance, with players required to hold STAR tokens to vote on new proposals and decisions.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial or other advice.