5 Utility Tokens That Will Gain Exponentially In 2022

Last Updated August 23rd 2022
6 Min Read

While most of us use cryptocurrency as a catch-all term for blockchain-based digital assets, not all cryptos are technically currencies. In reality, most cryptos fall into two main categories: coins and tokens.

Coins are the native currency of a blockchain platform and are used to settle transactions. In other words, they are a method of payment. Tokens are digital assets built on top of an existing blockchain. Most crypto tokens today are built on Ethereum’s ERC-20 standard and come in different flavours, including utility coins. 

Utility coins enable use cases that aren’t possible with the blockchain’s own native coin. For one, utility tokens give users certain rights (eg, discounts, voting) within a project or community. 

With so many options out there, choosing the best utility tokens to invest in can be a challenge. So, to make things easier, we’ve picked out the 5 utility tokens that will gain exponentially in 2022.

 

Axie Infinity (AXS) 

AXS is the in-house crypto for the hugely-popular Axie Infinity blockchain game. This P2E (play-to-earn) game centers around the breeding and training of virtual monsters. These NFT avatars fight to earn rewards in AXS, which players then use to improve their monsters or swap for real money in crypto exchanges. 

Players also earn SLP tokens by winning battles in the Axie Infinity game, and they use a combination of SLP and the AXS governance token for breeding new Axies. At the height of its popularity in 2021, Axie’s collection of NFT monsters was the most valuable NFT collection in the world. 

The team has announced plans to move toward an upgraded version of this game. This new and improved version includes all the usual suspects, along with gameplay improvements and the addition of a free-play entry to the game. This amounts to potentially hundreds of dollars of savings for users, given the entry fees for building a team and starting playing. 

Experts believe AXS to be one of the 5 utility tokens that will gain exponentially in 2022, keeping in mind the rate at which the Axie ecosystem is growing.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Apecoin (APE)

Of the emerging breed of NFT utility tokens, Apecoin offers strong investment potential. APE is the governance token for the market-leading Bored Ape Yacht Club NFT ecosystem.

Owning APE allows the owner to participate in decision-making about how the APE NFT system is run. But most holders buy APE for its investment potential.

NFTs (Non-Fungible Tokens) are digital assets traded for profit — and Bored Ape’s collection of 9,999 NFTs has cornered the market, notching up a trading volume of almost $19m in one week recently. The average price of a Bored Ape NFT is around $390k.

ApeCoin stands to benefit from good tokenomics. There is a limited supply of 1 billion APE tokens. Each owner of a Bored Ape NFT was given just over 10,000 APE when this utility token came to market in March 2022.

After an initial surge to just under $18, the price of APE has, since the beginning of April, created a shallow ‘teacup bottom’ between $10 and $12; in technical charting, this pattern is considered a positive ‘BUY’ sign. These factors have helped analysts predict that APE is one of the 5 utility tokens that will gain exponentially in 2022.  

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Decentraland (MANA) 

MANA is the utility token for the Decentraland metaverse. Decentraland was one of the first metaverses. It offers a 3D world where users can buy virtual plots of land and monetize them by hosting shops, exhibitions, and interactive events.

Over time users have created various experiences on the parcels of LAND available. The experiences range from interactive games, virtual interactions, and sprawling 3D scenes. In addition, the network has two play-to-earn crypto tokens, LAND and MANA. 

Decentraland also uses a decentralized autonomous organization (DAO)  for governance decisions. The MANA coin holders control the way the Decentraland world works. The MANA coin gives governance rights to the holders, from voting on policy updates to deciding the types of content allowed within the metaverse and specifics of LAND auctions. In addition, users often generate income by selling and creating items on the Decentraland marketplace using MANA tokens.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Enjin Coin (ENJ) 

One of the 5 utility tokens that will gain exponentially in 2022 is ENJ. Enjin is a decentralized ecosystem built to streamline the integration of enterprise blockchain technology. The network is referred to as a PaaS (Platform-as-a-Service) due to its structure and features. 

Notably, Enjin enables businesses to leverage blockchain infrastructure without writing any blockchain-related code. By eliminating such technical barriers, the network enables anyone to trade using blockchain-based strategies.

Currently, the platform specializes in helping developers and studios to utilize tokenized digital assets in their titles. These protocols improve the UX and help cultivate acquisition, retention, engagement, and monetization strategies for developers. 

At the moment, the platform supports hundreds of thousands of communities globally. The network has expanded to include 40+ gaming firms today. In this way, Enjin connects the growing ecosystem of creators, buyers, and sellers via pioneering decentralized initiatives.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Binance Coin (BNB) 

Binance Coin (BNB) is the utility token for Binance, the largest crypto exchange in the world. Owners of Binance Coin can get a 25% trading discount when trading on Binance’s crypto market, as well as discounts on crypto staking.

With 80m users and 600+ crypto on sale, Binance compares well against top broker eToro as a great place to track down the most undervalued crypto. Of course, having some BNB makes trading on the exchange smoother. But many investors simply buy BNB as an investment. 

Experts have predicted a promising growth trajectory for BNB in 2022 and beyond, making now the best time to invest.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

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