Crypto Gaming Assets to Watch in May 2024: Decentraland, Axie Infinity, Enjin Coin (ENJ) and These Six Projects Lead Development Activity
According to data from Santiment, a crypto analytics platform, Decentraland (MANA), MultiversX (EGLD), Immutable X (IMX), and several other crypto projects are the top gaming assets by development activity in May 2024. This list is compiled by counting non-redundant GitHub activity and averaging the daily activity over the past 30 days.
Decentraland and MultiversX stand out as the leaders in terms of development efforts, significantly outpacing others in the space. Let’s explore these projects and others making waves in the gaming industry.
Source: Santiment – Start using it today
Decentraland (MANA) is a virtual reality platform that launched in 2020, allowing users to create, experience, and monetize content and applications within a decentralized 3D virtual world. Users can purchase plots of land using the MANA cryptocurrency on the Ethereum blockchain and develop virtual structures like casinos, art galleries, and theme parks, charging others to visit.
MultiversX (EGLD) is a high-throughput blockchain platform focused on security, efficiency, scalability, and interoperability. It employs a unique approach to scalability through Adaptive State Sharding and a secure Proof of Stake consensus mechanism.
Immutable X (IMX), launched in 2018, is a Layer 2 scaling solution for NFTs on Ethereum, utilizing zero-knowledge proof technology from StarkWare to enable fast, secure, and gas-free trading of NFTs and ERC-20 tokens. Its scalability, user-friendliness, and low gas fees make it appealing for NFT projects.
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Show more +SKALE (SKL) is a gas-free, Ethereum-compatible blockchain network that aims to enable the deployment of decentralized applications (dApps) without the burden of high gas fees on Ethereum. It uses a variant of the ABBA consensus protocol and employs a containerized architecture for enterprise-grade performance and flexibility.
The Sandbox (SAND) is a decentralized virtual world and gaming platform launched in 2011, built on Ethereum. It focuses on user-generated content and true ownership of in-game assets as NFTs. Players can create and monetize their own 3D virtual worlds and games using the platform’s game maker tool.
Cere Network (CERE) is a decentralized data and finance cloud platform built on Polkadot. It aims to bridge enterprise assets and utility into the blockchain ecosystem through its SaaS DeFi platform and offers a Decentralized Data Cloud (DDC) for secure, efficient, and flexible data storage and access.
Saito (SAITO) is a layer-1 blockchain network designed to provide the foundation for building open and scalable web applications. It uses a novel consensus mechanism that pays internet service providers (ISPs) instead of miners or stakers, creating a sustainable and decentralized network where the costs of running the blockchain are distributed across the ecosystem.
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Enjin Coin (ENJ) is the native cryptocurrency of the Enjin blockchain ecosystem, launched in 2018. It is used to back the value of blockchain assets, such as non-fungible tokens (NFTs), created on the Enjin platform, and users can “melt” their assets to retrieve the ENJ value from within.
The Root Network (ROOT) is a decentralized, community-owned blockchain designed to power and connect digital experiences within the metaverse and beyond. It utilizes a dual-token system with ROOT for security and governance, and XRP for gas fees, ensuring optimal network efficiency and security.
Axie Infinity (AXS) is a blockchain-based game where players collect, breed, battle, and trade digital creatures called Axies. Players can earn Ethereum-based in-game cryptocurrency through battles and other activities, with a play-to-earn model allowing them to cash out their tokens every fourteen days.
Investors can closely watch these gaming assets for potential bullish moves as their development activity progresses throughout the year. Santiment’s GitHub activity tracking provides valuable insights into the teams’ efforts to innovate and improve their projects, which could drive future growth and adoption.
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