Play-to-earn games earned a great deal of attention last year as the world battled with the pandemic.
In countries like the Philippines, Brazil, they have become an in-thing, especially for the young population looking to make extra income.
The incorporation of non-fungible tokens (NFTs) has been a huge boon for the GameFi industry.
On its own, the NFT frontier is now worth billions of dollars as innovations keep pouring in, setting the stage for more growth and adoption.
In-game items such as weapons, skills, clothing and avatars are being turned into NFTs to increase their utility and provide more earning opportunities for their users.
Users earn either tokens or NFTs when they interact with play-to-earn games— which they often have to store in wallets.
Despite the several digital wallets available today, not all provide support for a wide variety of chains and storage of NFT gaming items. As such, this limits their usage.
Those with support for many chains and storage of several assets have been able to attract a large user base, leading to a higher trading volume and TVL.
Some wallets enable direct access to decentralized applications through a dApps browser.
Thus, users can easily connect their wallets to perform activities such as storing gaming rewards and purchasing in-game items.
A few wallets have become really popular among blockchain gamers because they support these activities. They include:
Just as the name implies, this is a trusted digital wallet for not only the storage of cryptocurrencies but NFTs as well.
Trust Wallet has proven to be a reliable wallet in terms of ease of use and support for a plethora of crypto assets.
This is what makes it the number one wallet amongst others, according to CoinCarp.
NFTs are stored in the ‘Collectibles’ section in Trust Wallet, though they cannot be traded there.
Instead, users have to list them on secondary marketplaces dedicated to trading them.
Trust Wallet supports access to several games such as Axie Infinity, SplinterLands, Alien Worlds, including decentralized exchanges, DeFi protocols and NFT marketplaces— a feature that has endeared it to many users.
Over a million assets can be stored in Trust Wallet, including Bitcoin, Ethereum, Solana, Avalanche, Litecoin and stablecoins such as BUSD, DAI, USDT, USDS, USDC, GUSD, PAX, TUSD.
Users transact and even store these assets and much more daily, contributing to the trading volume.
Trust Wallet is not controlled by any firm; it’s a user-oriented wallet that hands the control of assets to users, defeating the ‘Not your Keys Not your Coins’ notion synonymous with centralized exchanges (CEX).
Access to the Trust Wallet is achieved through private keys only known to the user, thereby promoting privacy. Additionally, no two users have the same phrases.
Trust Wallet does not support multi-sig access or two-factor authentication. As such, the onus of protecting their assets often lies on users.
To support the safety of assets, Trust Wallet provides an extra layer of security in the form of passwords. Users can activate the password feature on their wallets.
Trust Wallet has a native token $TWT that is part of the wallet’s ecosystem. The $TWT token amasses huge trading volume on major exchanges daily.
Coin98 or C98 Wallet is a multi-chain wallet. The digital wallet launched in 2020 but has warmed its way into the hearts of crypto natives and DeFi enthusiasts.
Coin98 Wallet burst into the cryptocurrency scene amid the interest surge in decentralized finance from 2020 through to this year.
As many DeFi solutions in the form of dApps and protocols emerged, it became necessary to provide a one-stop solution that can unify these applications or protocols.
Coin98 Wallet advances itself as the all-in-one solution that easily aids activities like staking, cross-chain swaps, yield farming.
To enable these activities, the C98 Wallet supports over 20 different blockchains and their native assets.
This makes it easy for users to explore different options under one umbrella.
The C98 Wallet allows users to swap tokens natively at the best rate and slippage possible, using top automated market makers (AMMs) like Uniswap, PancakeSwap, QuickSwap.
It also provides users with access to popular dApps without having to leave the wallet.
One of the most notable features of the Coin98 Wallet is its point reward system, which is another factor contributing to its growing user base.
Coin98 Wallet allows users to earn X-Point by doing certain tasks such as referring friends. With the X-Point earned, users can purchase various gifts in X-Store.
Coin98 Wallet supports sending, receiving and storing of NFT gaming items. Users can also mint multichain NFTs of any type using the NFT issuer functionality enabled on the wallet.
The wallet is only accessible through private keys or seed phrases; no multi-signature functionality or support for 2FA.
Coin98 Wallet has a mobile app for both Android and iOS, with support for an extension wallet for browsers already in the works.
MathWallet is another digital wallet commonly used by crypto enthusiasts.
It is a universal wallet with support for multi-chain tokens and dApps on the mobile/browser extension/web/hardware versions.
MathWallet is built with open source code, meaning developers can access its codebase to create similar wallets.
MathWallet enables token transfer and receipt, access to blockchain information, resources management and news and portfolio management.
Users have access to over 60 public blockchains, including BTC, ETH, EOS, TRX and many others, such that they can store the native tokens of these blockchains in the wallet.
Users can store gaming items as NFTs in MathWallet. MathWallet provides extra support to the Fantom blockchain game AC Rarity— a play-to-earn game inspired by another Ethereum-based game Loot.
Merging NFTs with games has turned out to be an innovative idea, facilitating adoption and adding more utility to the former.
As we continue to witness the emergence of play-to-earn games across several chains, it highlights the essence of digital wallets that support the storage and exchange (rent, buy and sell) of gaming NFTs.