Gaming Crypto Wheel
In-game currencies, marketplaces and studio tokens, all in one bucket.
Press Spin. Every coin on the wheel has the same chance.
Your cryptocurrencies
The gaming crypto wheel picks one of twenty blockchain gaming tokens at random. The category spans in-game currencies, marketplace tokens and the governance tokens of studios and platforms, which are three quite different things wearing one label.
Three different things wearing one word
A token that buys a sword inside one game, a token that governs a marketplace where many games sell things, and a token issued by a studio to fund development are not the same instrument. They have different holders, different reasons to exist and completely different relationships to whether anybody enjoys playing. All three land on this wheel under a single label.
The in-game currencies are the easiest to reason about and the hardest to value: they behave like the gold in any online game, which is to say their purchasing power is set by how many people are farming and how much the studio prints. Platform tokens are closer to infrastructure. Studio tokens are closest to equity and almost never actually are equity, which is a gap worth understanding before mistaking one for the other.
The player-count problem
In most industries you can find out how many people use a product. Here you largely cannot. On-chain activity counts wallets, not people, and a wallet is free. A game with a rewards programme will show enormous activity from a small number of operators running many accounts, and the same numbers would appear if it were genuinely popular.
So the metric that matters most for a game is the one least visible from the chain, and the metrics that are visible are the ones easiest to manufacture. That is not a reason to dismiss the category — some of these games have real players who would still be there without a token — but it does mean the surface numbers are close to worthless as a filter, and a wheel is not worse than they are.
Where the token and the game come apart
A studio can build something people love and keep the revenue, because the revenue arrives in currency rather than in the token. A token can climb because a chain is subsidising activity on it, while the game underneath stays empty. Neither outcome is unusual and neither is visible from a ticker.
What a wheel does here is decline to pretend otherwise. It picks one of twenty names with equal probability, tells you it did that, and leaves the question of whether the game is any good exactly where it belongs — with somebody willing to install it and play for an hour.
What is on this wheel
| Rank | Ticker | Name |
|---|---|---|
| 66 | RENDER | Render |
| 85 | VIRTUAL | Virtuals Protocol |
| 100 | STX | Stacks |
| 109 | FLOKI | FLOKI |
| 116 | IMX | Immutable |
| 138 | AXS | Axie Infinity |
| 147 | MANA | Decentraland |
| 152 | SAND | The Sandbox |
| 153 | APE | ApeCoin |
| 161 | GOMINING | GoМining |
| 167 | GALA | Gala |
| 173 | FORM | Four |
| 176 | EGLD | MultiversX |
| 179 | WEMIX | WEMIX |
| 220 | AKE | AKEDO |
| 251 | BEAM | Beam |
| 280 | BabyDoge | Baby Doge Coin |
| 290 | NXPC | NEXPACE |
| 297 | SUPER | SuperVerse |
| 321 | OMI | ECOMI |
Market data provided by CoinMarketCap — CoinMarketCap. Rank, ticker and name only; this site stores no prices.
This list is a judgement about what belongs in the category, not a market-cap ranking, so it carries no date. See how the lists are chosen.
Questions
Which gaming tokens are on this wheel?
All 20 of them are printed under the wheel: RENDER, VIRTUAL, STX, FLOKI, IMX, AXS, MANA, SAND, APE, GOMINING, GALA, FORM, EGLD, WEMIX, AKE, BEAM, BabyDoge, NXPC, SUPER and OMI. Stablecoins and wrapped tokens are left off, and you can replace the whole list in Custom mode.
Are the games behind these tokens actually played?
Some are, by real players, for reasons unconnected to the token. Many are not, and their activity comes from people farming rewards. Player counts are hard to verify on-chain and a wheel cannot see them at all.
Is a game token the same as owning the game?
No. Most are in-game currencies or governance tokens for a platform, not equity in a studio. A game can succeed commercially while its token does nothing, because the studio keeps the revenue and the token only buys hats.