Even for crypto, gaming coins are a risky investment. Although quite a few of them had extraordinary success in 2021, practically crypto games the entire blockchain gaming market fell off after that, and several popular projects lost 80% or more from their previous highs.
The bottom line is that gaming coins have a very uncertain future. It’s easy to see the potential of virtual worlds and games built on blockchain technology, but they have a long way to go to catch up to the video game industry. Even if blockchain gaming manages that, there’s no telling which, if any, of the current games will survive.
If you don’t want to spend too much time diving into gaming coins, or if you’re concerned about the risk, cryptocurrency stocks are a good alternative. You could also stick to some of the market leaders, such as Bitcoin (CRYPTO:BTC) and Ethereum, which tend to be a little safer than smaller cryptocurrencies (although they’re still risky and volatile).
For those who decide to pursue crypto gaming as an investment opportunity, the traditional advice of doing your research is more important than ever. Since gaming coins are new, they don’t yet have an established track record. Take your time learning about what they offer and what their goals are to make an informed decision.
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