What is Crypto Clans blockchain game & is it safe?

August 23, 2022 12:49 PM AEST | By Ankit Sethi

Crypto Clans blockchain game

The game appears to be quite similar to most other blockchain games in that the players can engage in quests and earn digital assets. This makes Crypto Clans a so-called ‘play-to-earn’ game. The website of the game suggests that it is yet to be made available on web browsers and smartphones. According to the project’s whitepaper, Crypto Clans is “inspired” by some other popular game, which has over one billion downloads.

The primary highlight of the game appears to be building clans by engaging in battles. The game offers both cryptocurrency and non-fungible tokens (NFTs) as digital assets. Blockchain games are often likened to metaverse experience, and Crypto Clans is also stressing on this element.

Crypto Clans cryptocurrency and NFTs

First, the Crypto Clans game is very new in the market and the linked cryptocurrency token, CLAN, is yet to make an impact in the market, which is dominated by the likes of Axie Infinity and Decentraland (MANA). The CLAN token can be used to purchase in-game items like NFTs. These NFTs are tradable. Notably, the ‘Crypto Clans Assets’ collection is available on the OpenSea marketplace with four items listed and the floor price is 0.11 ETH.

Also read: Which are the top utility tokens by market cap?

Popular gaming tokens

AXS and MANA are among the most popular gaming metaverse tokens. Both have a market cap of over US$1 billion, although prices of these tokens have dropped sharply this year. The year-to-date (YTD) losses of these gaming tokens are more than that sustained by Bitcoin and Ether (ETH).

Market cap

Data provided by CoinMarketCap.com

Bottom line

At a time when established blockchain gaming tokens like AXS and MANA are under intense pressure, the future of new game Crypto Clans cannot be predicted. The game is offering both a cryptocurrency and NFTs, which have yet to earn a name in the already-crowded space. Extreme caution is highly recommended.

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