Key Takeaways
- Crypto gaming, or GameFi, is revolutionizing the gaming industry by enabling players to earn tokens, govern game decisions, and own in-game assets.
- Leading GameFi projects include Axie Infinity, The Sandbox, and Decentraland (MANA), among others.
- While GameFi introduces innovative earning and ownership opportunities, it comes with risks like market volatility, regulatory uncertainty, and the potential for scams.
- GameFi is set to transform the gaming industry further, offering new avenues for monetization, community engagement, and decentralized gaming ecosystems.
The world of crypto gaming is growing at an unprecedented pace. This exciting intersection of blockchain technology and interactive entertainment, often called GameFi (Gaming Finance), is changing how we play and earn in virtual environments.
Gamification and crypto gaming thrive because each game has its native token, which serves as a multi-functional asset. It simultaneously rewards players, provides incentives, and sometimes even offers governance rights. The global blockchain gaming market is expected to reach $65 billion by 2027 and it’s worth knowing some of the big players in the sector.
In this article, we’ll guide you through the top crypto gaming coins to watch in 2025 and delve into the potential opportunities and risks of crypto gaming.
Top Crypto Gaming Coins To Know in 2025
There are probably thousands of crypto gaming projects that are currently in development, making it hard to sift through all of them. Let’s have a look at some of the most important and successful crypto games and their coins:
| Project | Coin Ticker | Game/Ecosystem |
|---|---|---|
| Axie Infinity | AXS | Axie Infinity |
| The Sandbox | SAND | The Sandbox |
| Decentraland | MANA | Decentraland |
| Gala Games | GALA | Gala Games ecosystem |
| Illuvium | ILV | Illuvium |
| Enjin | ENJ | Enjin Ecosystem |
| ImmutableX | IMX | ImmutableX ecosystem |
| Beam | BEAM | Beam ecosystem |
1. Axie Infinity – AXS – Axie Infinity
Axie Infinity is one of the pioneers of the play-to-earn model, developed by Vietnamese studio Sky Mavis and launched in 2018. The game boasts a userbase of millions, particularly in regions like Southeast Asia.
In Axie Infinity, players engage in collecting, breeding, and battling creatures known as Axies. Players earn AXS and SLP tokens as rewards for in-game achievements. These tokens incentivize engagement and can be used for governance (AXS), allowing holders to vote on key decisions affecting the game’s development.
While Axie faced criticism for its early reliance on high entry costs, the introduction of free starter Axies has lowered barriers, making it more accessible. With continuous updates and a vibrant community, AXS remains a top token to watch in 2025.
2. The Sandbox – SAND – The Sandbox
The Sandbox is a decentralized metaverse platform launched in 2012 by Pixowl, later acquired by Animoca Brands. In 2021, it launched its 3D blockchain game platform, allowing users to create, own, and monetize virtual experiences. Its token, SAND, serves multiple functions, including purchasing land, trading items, and participating in governance decisions.
The metaverse gained significant traction due to partnerships with celebrities like Snoop Dogg and brands like Adidas. Players can earn SAND tokens by creating content, participating in events, or trading assets in the marketplace.
Despite concerns about virtual land pricing volatility, the Sandbox’s innovative user-generated model makes it a cornerstone of the GameFi landscape.
3. Decentraland – MANA – Decentraland
Launched in 2017, Decentraland is a metaverse built on Ethereum, developed by Ariel Meilich and Esteban Ordano. With MANA as its native cryptocurrency, players can purchase land parcels, develop virtual properties, and participate in various social experiences.
Users earn MANA by selling virtual real estate or creating monetizable experiences. This token also offers governance rights, enabling players to shape the future of Decentraland through its DAO (Decentralized Autonomous Organization).
Decentraland has faced criticism for its initial high land prices. Despite that, the project remains committed to decentralization and immersive virtual spaces ensure its relevance in the years ahead.
4. Gala Games – GALA – Gala Games
Gala Games, founded in 2020 by Eric Schiermeyer (co-founder of Zynga), focuses on player ownership and decentralized control. The platform features multiple games, including Town Star, Mirandus, and others.
Players earn GALA tokens through gameplay, node operation, and in-game activities. These tokens incentivize engagement and provide governance opportunities, empowering players to influence future game development. In addition, Gala Games also delved into the world of music entertainment with Gala Music, a platform offering decentralized music streaming services.
Two of the Gala Games co-founders are currently in a legal dispute. The outcome of this battle may determine whether Gala remains a top player in the space. For now, it’s still among the top gaming projects that might remain the case in 2025.
5. Illuvium – ILV – Illuvium
Launched in 2021, Illuvium is a blockchain-based RPG that combines exploration and creature battles. Developed by a team led by Kieran Warwick, Illuvium has been described as a blend of Pokémon and open-world games. Players earn ILV tokens by capturing creatures (Illuvials), completing quests, and staking. The token provides governance rights and serves as a reward mechanism.
In early 2024, one of the co-founders resigned from the company, raising questions about the future of the project. In addition, the game’s long development cycle which started in September 2020 has yet to deliver a final product. One thing’s for certain, the team’s persistence and dedication over the years is undeniable. It remains to be seen whether they’ll deliver in the year to come.
6. Enjin Coin – ENJ – Enjin Ecosystem
Enjin Coin powers the Enjin ecosystem, a platform for creating blockchain-based games and managing digital assets. Founded in 2009 as a community gaming platform, Enjin has transitioned into GameFi, offering developers tools to integrate NFTs and tokens into their games. At the same time, players can earn and use ENJ tokens across various games in the ecosystem, ensuring interoperability and fostering a thriving community.
In May 2024, Coinbase announced the delisting of ENJ from its platform. This decision was part of Coinbase’s routine audits to ensure all listed assets meet their standards. The delisting led to a noticeable decrease in ENJ’s price, highlighting the sensitivity of altcoin valuations to exchange listings.
Lastly, Enjin’s emphasis on developer tools and cross-game economies makes it a valuable asset for the future of GameFi in 2025.
7. ImmutableX – IMX – Immutable Ecosystem
ImmutableX is a Layer 2 scaling solution for Ethereum, specifically designed for NFT projects and blockchain games. Launched in 2021, it focuses on providing gas-free and carbon-neutral transactions for minting and trading NFTs. Consequently, this makes it a popular choice for developers looking to build scalable GameFi projects without compromising Ethereum’s security.
Players and developers can earn IMX tokens through staking, participating in governance, or completing ecosystem-related activities. In addition, the token incentivizes network usage and empowers holders to vote on protocol changes.
In October 2024, Immutable received a Wells notice from the U.S. Securities and Exchange Commission (SEC). Accordingly, the company’s IMX token might constitute an unregistered security, potentially leading to enforcement action. Despite that, the Immutable ecosystem is one of the biggest in crypto gaming and worth watching in 2025.
8. Beam – BEAM – Beam Ecosystem
Beam is a blockchain ecosystem centered on revolutionizing gaming through decentralized technologies. Initially established as Merit Circle DAO, the project rebranded to Beam in October 2023 and launched a subnet on the Avalanche network. Beam provides tools and frameworks that empower developers to create immersive blockchain-based games while enhancing the gaming experience for players.
The native token, BEAM, is integral to the ecosystem, serving roles such as transaction fees, governance participation, and staking rewards. During its time as Merit Circle, a significant governance conflict arose between the DAO and one of its early investors, Yield Guild Games (YGG). This incident raised concerns about decentralization and governance transparency within DAOs.
In conclusion, Beam’s rebranding was a major milestone for the project. It signaled a renewed focus and commitment to becoming a leader in the blockchain gaming sector.
Traditional Gaming vs. Play To Earn
Traditional gaming and play-to-earn (P2E) gaming differ in several ways, particularly in terms of ownership and earning potential.
| Aspect | Traditional Gaming | Crypto Gaming |
|---|---|---|
| Ownership | Players purchase in-game items but don’t own them | Players own in-game assets |
| Earning potential | No financial rewards for gameplay | Players earn tokens or NFTs with real world-value by playing |
| Centralization | Game content and updates are controlled by developers | Many games are governed by their decentralized communities |
| Barrier to entry | Players buy PCs, consoles, and games to play | Some require an initial investment, others are free-to-play |
| Longevity | Players invest time but rarely retain value after completing the game | Blockchain assets can be potentially transferred to other platforms |
Pros and Cons of Crypto Gaming
While crypto gaming has transformed how players interact with games, it has its share of advantages and disadvantages.
| Pros | Cons |
|---|---|
| Ownership of assets | Market volatility: prices of tokens and NFTs can fluctuate a lot |
| Earning opportunities | High entry costs for some games |
| Community governance | Governance inequality, players with more tokens have a bigger say |
| Interoperability | Limited interoperability |
| Transparency | Security risks, wallet hacks, scams |
Risks To Know Before Investing in GameFi Projects
Investing in GameFi projects can be rewarding but also comes with notable risks.
- Market Volatility: Cryptocurrency prices, including gaming tokens, are highly volatile, leading to unpredictable returns.
- Regulatory Uncertainty: The legal framework for blockchain gaming varies across regions, potentially impacting project operations.
- Scams and Fraud: GameFi’s rapid growth has attracted fraudulent projects. It’s essential to research thoroughly before investing.
- Technical Challenges: Smart contract vulnerabilities or network congestion can disrupt gameplay or affect asset security.
- Sustainability Issues: Not all GameFi projects have long-term viability, with some struggling to maintain active user bases.
Closing Thoughts
The rise of crypto gaming represents a shift in the gaming industry. Through tokens and blockchain technology, players can own in-game assets, earn rewards, and actively participate in shaping their favorite games. With many promising projects on the horizon, GameFi is poised for continued growth.
However, like any investment, it’s crucial to approach GameFi with caution and conduct thorough research.
