The computer games market in 2020 is estimated at about $ 37 billion. Unsurprisingly, there are many cryptocurrency projects out there trying to innovate the gaming industry using blockchain technology. The main problem with most games is that they are centralized. At some point, the servers for a particular game you like will stop and your in-game items will disappear.
However, there are projects that try to mix things up and return that value to the player, such as Decentraland MANA / USD and Enjin Coin ENJ / USD.
Should you invest in Decentraland?
Looking for fast news, tips and market analysis? Sign up for the Invezz newsletter today.
Decentraland is an Ethereum blockchain-based virtual reality platform that allows users to create, use and monetize content and applications by purchasing land that they can then build.
Decentraland traded at $ 0.79 on May 31. A month ago it cost $ 1.48 and in March it cost $ 1.02. This means that the cryptocurrency has had a tough few months.
However, if we dig deeper, we can see that Decentraland was trading at $ 0.23 at the end of February. In other words, Decentraland investors, who have held out since February, are still growing more than 240% despite recent weakness.
This means that you should invest in Decentraland if you see it at around $ 0.80, as it can easily go up over $ 1.20. However, if you see the price dropping below $ 0.50, it may not be such a smart investment and you should wait for signs that the selling momentum is over.
Should you invest in Enjin Coin?
Enjin Coin is a project of Enjin, a company that provides an ecosystem of interconnected blockchain-based gaming products. Enjin Network is a social gaming platform where users can create websites and clans, chat and host virtual merchandise stores. It is also based on the Ethereum blockchain and is an ERC-20 token.
On May 31, Enjin Coin traded at $ 1.56, down 40% from last month. Like Decentraland, the price of Enjin Coin is significantly higher than in February. In particular, Enjin Coin is now worth 178.57% more than at the beginning of 2021.
You should invest in Enjin Coin if you see it at the $ 1.50 mark as it rallied steadily before going down, but if you end up seeing it below $ 1 it might be time to invest in something else, but you you need Enjin Coin to remain on your watchlist.
The future of video games
The video game industry is by far one of the largest entertainment industries in the world. Now everyone is sitting at home enjoying video games here and there, and the next big leap in this form of entertainment is likely to be decentralized technology. Now you have gotten a bit of information about the rise and fall of the market value, but if you are an avid gamer and think that the industry will continue to expand in the field of cryptography, these coins can be an interesting investment. …
67% of retail CFDs lose money