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Gaming Platforms on the Blockchain: Here’s Three to Watch – Playkey (PKT), Enjin (ENJ), Chimaera (CHI)
Gamers have always taken advantage of and contributed to, the technological advancements of the digital age. Necessity is the mother of invention, after all, and the games available to the public today require consistent breakthroughs in internet speeds and computing power to run as designed. But stunning graphics and lightning-fast response times aren’t the only technological areas gaming developers have championed. Having years ago created in-game markets for the trading of digital assets, the first virtual-currencies were not found on an exchange, but rather in a game. Today, a growing number of developers are ready to revolutionize the meaning of decentralization with a series of gaming platforms and their associated crypto-tokens.
Yes, the gaming community adapts quickly to new technology in the pursuit of their favorite hobby. And the blockchain is no different to them in this regard. But as investors look out onto the virtual landscape in search of a secure place to park their Ethereum (ETH), what exciting developments in the gaming industry are available for them to choose from? Three gaming platforms to watch are listed below, each representing unique niches in the expanding altcoin universe.
Enjin (ENJ)
The Enjin Network and associated Enjin Coin (ENJ) take the trading of virtual assets to a whole new level. With a customizable ERC-20 token (that can be spent in-game as well as traded on your favorite exchange), the Enjin Coin (ENJ) platform allows game developers to create their own token using Enjin Coin (ENJ) as a parent currency. Users of the Enjin platform can take real ownership of their virtual assets this way, trading items across games in the world’s largest gaming-website platform available.
Boasting 250,000 gaming communities and nineteen million users, millions of dollars (USD) of virtual goods are traded on the platform each month. And with the world’s most secure digital wallet available, supporting Bitcoin (BTC), Ethereum (ETH), Enjin Coin (ENJ) and all ERC-20 tokens, Enjin (ENJ) stands ready for mass adoption by an eager public.
Enjin Coin (ENJ) is available on Binance, KuCoin, and a number of other popular exchanges.
Playkey (PKT)
Playkey owns gaming in the cloud. And if you believe what they’re saying in the chatrooms and gaming forums online, cloud gaming is the future. Playkey offers a solution to a massive problem in the gaming industry; Namely, eighty-one percent of gamers lack the computer resources necessary to play the newest PC games. Cloud gaming allows players to rent servers capable of handling the computing demands of these new games for considerably less than the cost of upgrading computer hardware.
Playkey Token (PKT) is used for all of the transactions that occur between gamers and miners on the platform. As more people play, the demand for Playkey Token (PKT) will rise, giving investors a great reason to hold the token over the long term.
If you missed November’s token sale, you can find Playkey Token on a few exchanges including Idex and EtherDelta.
Chimaera (CHI)
Finally, on this short list of gaming platforms to watch, is Chimaera (CHI). Chimaera has a key advantage to its platform of massive multi-player decentralized games: experience. The developers of Chimaera started with a proof of concept called Huntercoin. The Huntercoin experiment, deployed in 2013, created the worlds first game built entirely on the blockchain. The Chimaera platform builds upon the know-how gained from the Huntercoin experiment and plans to offer a wealth of tools for developers bringing their games to the platform.
The Chimaera (CHI) platform also promises the scalability necessary for massive game worlds and virtual inventories. Boasting of breakthroughs in their off-chain scaling, in what they refer to as Game Channels and Ephemeral Timestamps, developers utilizing the Chimaera blockchain are free to think big when creating their online fantasy-worlds.
The Chimaera token’s (CHI) pre-sale date is yet to be determined.
Gaming on the Blockchain
The gaming industry represents a growing market keen on the technological advancement of blockchain technology. From the creation of ERC-20 tokens based on a parent currency to cloud-based computing for overtaxed consumers to the achievement of scalability for massive multiplayer game-worlds, the solutions gamers find to common technological barriers will redefine the blockchain to a warming public, ready to take their first steps into the altcoin universe. And as investors ready themselves for increased public participation in the market, those wanting to stay in-tune with public demand would be wise to consider the gaming tokens listed here. Playkey (PKT), Enjin (ENJ) and Chimaera (CHI) represent gaming on the blockchain.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.
Image courtesy of JD Hancock via Flickr
BNB price has noted significant gains over the past few days, surging past the psychological resistance of $300. The native cryptocurrency of the Binance Exchange has surpassed Solana to regain its position as the fourth-largest cryptocurrency by market cap. The digital currency has been rallying lately with a 7-day profit of more than 15%. Additionally, BNB has clocked a phenomenal gain of 38% in the month to date.
Binance Coin Outlook
BNB price has been on a strong bull run for the past week, breaking out of its consolidation. Even so, the asset has experienced a correction in its uptrend over the past 24 hours but remains above the crucial level of $300. BNB’s total market cap has decreased by 4% over the past day to $48 billion, while the total volume of the asset traded over the same period dipped by about 15%.
Over the past year, Binance Coin has had to cope with Fear, Uncertainty, and Doubt (FUD) on the back of the regulatory troubles of its underlying exchange. Earlier, the BNB price touched a low of $223.50, a few days after its former CEO, Changpeng Zhao, pleaded guilty to money laundering charges. However, the cryptocurrency has managed to rebound 46% in value since then.
The recent price rally has been associated with various positive developments in the Binance ecosystem, including the Introduction of the Isolated Margin Auto-Transfer Mode. This feature enables…
Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.
SOL Outlook
Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.
The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.
This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…
Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.
Catalysts Behind SOL’s Rally
Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.
The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.
Cited figures provided by DeFi aggregator DeFiLlama…
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