Blockchain technology is a technological advancement that could leave its mark on every single industrial sector. From the supply chain industry, and governmental administration, to decentralized artificial intelligence and financial systems, blockchain boasts a wealth of potential use cases. However, one of the most active industries in terms of blockchain adoption is the gaming and e-sports industry.

In this article, we'll be taking a closer look at some of the most advanced projects utilizing blockchain technology to power our beloved virtual realms.

1. Enjin Coin (ENJ)

An Ethereum-based token that utilizes the ERC-1155 multi-token standard protocol, Enjin is probably the most popular gaming token that helps players to value, track, and exchange next-generation gaming assets using blockchain technology.

With a market cap of $46.8 million, ENJ is certainly the leader in gaming cryptocurrencies. The company has active partnerships with the likes of Samsung and Unity among others, and it is estimated that there are already 67 million assets created through its platform.

From virtual swords and armors to in-game currency, ENJ offers players all over the globe the ability to store, distribute, and exchange their hard-earned equipment for ENJ Coins and vise-versa.

Buy/Sell Enjin Coin (ENJ)

2. Decentraland (MANA)

Maybe not the first gaming crypto by market cap, but second only to ENJ, MANA is certainly the most mature cryptocurrency project bridging the virtual realm with blockchain.

MANA is essentially Decentraland's native currency and acts as a gateway to a virtual open world where users can purchase land, materials, and avatars and build their own worlds, cities, neighborhoods, and houses in an organic virtual environment based on the real-life economy.

Decentraland is considered to be one of the most active crypto communities and their team, projects and code are constantly being updated.

Besides a well-designed VR open-world economy, MANA has been the choice of many cryptocurrency investors during 2017-18 run where it reached its ATH at a price of almost $0.30 USD per MANA token.

Buy/Sell Decentraland (MANA)

3. Loom Network (LOOM)

Loom Network is mainly known in the dApp (Decentralized Web3-based Applications) sphere and not so popular in the traditional gaming scene, but it offers a unique platform for game developers to create and deploy cross-chain dapps compatible with BTC, ETH, and BNB among other major cryptocurrencies.

Loom's network enables fast and smooth dApp operations, which look practically similar to regular iOS and Android apps, with clean and easy to use UX, and the ability to integrate any major crypto into the respective game.

The Thailand-based project also offers web3 and dApp hosting services which can be paid with Loom tokens.

Buy/Sell Loom Network (LOOM)

4. The Abyss (ABYSS)

The Abyss is practically the Steam or the Origin of the blockchain-scene. It is a platform that offers utilities similar to Discord, Steam, and G2A all in one pack.

Considered by many to be a rival to ENJIN, the Abyss allows game developers to submit their indie games to the blockchain-powered platform. Changelly, Waves Platform, and Teamspeak can also be found in Abyss' partner network.

The market cap of the ABYSS token is currently slightly over $2 million.

The ABYSS token is mainly used as a utility token for the Abyss Platform where users can use ABYSS to get special discounts and offers, key in-game items, participation to betas and more.

Users can also earn ABYSS engaging in the referral program or by achieving various game states, and translate their ABYSS into ETH, and/or FIAT at any time.

5. Zenzo (ZNZ)

With a market cap of just $165,000, the Zenzo project is definitely flying under the radar. Zenzo is the only project in our list to use its own blockchain instead of utilizing Ethereum's ERC-20 protocol, where it enables users to contribute, play, and exchange videogames and virtual assets using the ZNZ token.

The Japanese company also offers a digital identity service, its own home-made secure software wallet, as well as Masternode options for more committed contributors of the network.

Verdict

Being a passionate gamer myself, I can assure you that cryptocurrencies or the concept of a digital utility token are not really 'innovations' for the gaming community.

As a matter of fact, gaming titans such as NCSoft, Tencent, and Valve have various types of currencies and digital tokens such as NC-Coin, Tencent's Diamonds, and more, while Valve used to accept Bitcoin for in-store purchases.

Therefore, the implementation of a blockchain-powered monetary system could be easily applied in video games, but I think we should focus on the more complex concepts that blockchains can offer to the industry.

From the ability to track your virtual in-game assets to cross-game transactions and virtual land purchases, it is clear that blockchain technology has more than just one solution to upscale the constantly-growing gaming industry into a more modern, fast, and securely connected world of gamers.

Photo by Florian Olivo on Unsplash