The gaming industry may seem stagnant lately, but don’t be fooled – there are still plenty of gaming cryptos with huge upside potential in the years ahead. While short-term sentiment has been depressed, I believe the long-term outlook remains bullish.
Despite industry consolidation and studio closures, gaming continues to gain momentum globally, especially amongst digitally native youth. At the same time, the ambitious metaverse vision is far from dead, even if virtual reality adoption has been slower than expected. Most importantly, crypto markets appear to be bottoming out ahead of macro tailwinds like the 2024 Bitcoin (BTC-USD) halving and potential Fed rate cuts.
Once the crypto tide turns, select gaming cryptos could deliver truly life-changing gains during the next market cycle. The key is identifying projects with solid fundamentals and real traction that are poised to break out once sentiment improves. While many investors have given up on this sector after the post-2021 cooldown, I believe the smartest money is positioning in promising gaming cryptos before the next parabolic surge. Let’s dive in!
Render Token (RNDR-USD)
Render Token (RNDR-USD) powers the Render Network, a decentralized GPU render farm and 3D visualization platform. As demand for computer graphics and GPU compute resources continues growing exponentially, Render provides a scalable network for creating and distributing graphical content.
With trends like the metaverse, AR/VR, 3D modeling, and video gaming gaining momentum, Render is positioned to capture massive growth in visualization demands. The network has rendered 4.6 million frames so far, with GPUs provided by everyday computer owners looking to passively earn crypto. As more assets get created for the metaverse and digital worlds, Render’s network capacity becomes invaluable.
While RNDR trades 84% below its 2021 peak, I expect adoption to accelerate once crypto markets turn bullish again. The token has held up relatively well compared to other altcoins, signaling institutional interest. With a fixed token supply and staking rewards, RNDR has major upside potential as network usage grows.
Ethereum (ETH-USD)
While Ethereum (ETH-USD) may seem like an obvious, “boring” pick, the smart contract leader still offers tremendous upside from today’s prices. Despite weakness in 2022, Ethereum remains the backbone of Web3, DeFi, NFTs, metaverse projects, and blockchain gaming.
When the next crypto bull market arrives, ETH could easily retest its previous peak of around $4,800 – representing 200%+ gains from the current ~$1,500 price range. And that’s just based on historical patterns before considering Ethereum’s expanding utility and growth.
As the transition to proof-of-stake boosts scalability, token burning deflates supply, and layer 2 solutions improve costs, Ethereum adoption should accelerate. Its dominance makes ETH one of the safest, most lucrative blockchain investments for the long term.
Aleph Zero (AZERO-USD)
Aleph Zero (AZERO-USD) is an up-and-coming smart contract platform aiming to rival networks like Solana (SOL-USD) with its high transaction speeds and low costs. Using a novel directed acyclic graph (DAG) architecture, Aleph Zero is capable of up to 89.600 TPS with sub-second block finality.
While the network only has around 129 validators currently, it’s rapidly expanding. Aleph Zero offers a high 113% staking APY along with NFT, DeFi, and gaming integrations. The team is focused on robust security and has pioneered the first decentralized DAG bridge.
With extremely fast and cheap transactions, Aleph Zero ticks all the right boxes to host Web 3.0 applications. The network is still under the radar but could easily enter the spotlight should the crypto bull market resume. If AZERO sees adoption akin to rival chains like Solana, its current $20M market cap will multiply many times over – making the token a potential multibagger.
On the date of publication, Omor Ibne Ehsan did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.