The term “metaverse” seemed to be all over the place like in the news, on social media, and even at the dinner table. Although the technology is still in its initial phases, it is swiftly earning the attention of cryptocurrency investors. As a result, in 2022, metaverse cryptos symbolize a very good opportunity.
Meta, one of the world’s largest tech corporations, is investing in the metaverse and even changed its name from Facebook. The business reportedly invested $10 billion on its metaverse project in 2021, which it calls the “future of technology.” Cryptocurrencies and blockchain will be significant in this journey.
What is the metaverse, exactly? Furthermore, which metaverse tokens should you buy? Here’s a primer on the metaverse and the finest currencies to invest in.
The Top 10 Metaverse Cryptos that will bloom
Metaverse undertakings are still in their early phases so coin prices are quite low, considerably, and are less than $1 in many cases. As a result, almost anyone can now invest.
APE is an ERC-20 token, the Ethereum blockchain may contain it. ApeCoin is the native metaverse cryptos for the massively popular Bored Apes Yacht Club non-fungible monetary system used in Yuga Labs’ Otherside metaverse game. According to Fortune, Yuga Labs recently made over $320 million from a virtual land sale that let owners of APE tokens purchase homes in Otherside.
Purchasing APE now, at its current bargain-basement price, might pay you handsomely if the project survives. However, if the project fails, ApeCoin will become useless.
Apecoin was released on March 17, with approximately 30% of the maximum supply of one billion coins estimated to be in circulation at the moment. Despite its status as a brand-new token that has faced significant obstacles, ApeCoin has a market cap of $2.1 billion, making it the largest metaverse crypto.
The Sandbox as a crypto metaverse project has done extremely well. SAND, the platform’s native token, rose steadily throughout 2021, finally crossing the $1 threshold in the fourth quarter of 2021 and climbing to $8.40 in November. However, the cryptocurrency price has since plummeted and is at $1.32, up about 63% from its June low.
This project involves implementing the metaverse vision using VR. The Sandbox is essentially a game, and it has the support of gaming companies such as Atari, which may help it weather the current bear market. Sandbox relies largely on the development and trading of NFTs. NFTs can be created by players utilizing SAND metaverse cryptos and this cryptocurrency project is built on Ethereum.
Decentraland is an established crypto metaverse project. This was owing in part to the NFT frenzy, as well as massive growth in the platform’s native tokens, MANA.
Many NFT owners began displaying their NFTs on the site. However, NFTs aren’t the only thing available on this metaverse platform. The name comes from the fact that you can acquire virtual land and build virtual games and other digital products as its main feature.
Sotheby’s, a luxury goods and art broker, bought a plot of land in Decentraland and built a replica of its London headquarters. This shows that even huge organizations are thinking about metaverse projects.
The breeding of digital creatures that users can buy and raise is central to the 2020 concept. Once minted, digital animals can be represented as NFTs and traded on the open market.
Axies are violent creatures who enjoy fighting, hunting, and constructing for riches. Players form Axis teams, each with its own set of strengths and weaknesses. They can even combine parents to develop their breeds of Axies. After establishing teams, players can obtain land, create their kingdom, collect rare resources, raid dungeons, and much more.
Star Atlas (ATLAS)
This is a game-based metaverse effort in which winners receive their native token ATLAS. The game’s entire ecosystem is set in the future, in the year 2620, when players conquer the land and acquire resources.
In the game, the Earth is at war between three factions: the human-ruled MUD Territory, the alien-controlled ONI Region, and the sentient android-controlled Ustur Sector. These factions compete for resources, supremacy, and territory, and players in the Star Atlas game can affect the outcome.
This is the game in which participants earn rewards, much like in any other P2E game. However, in this scenario, ATLAS metaverse cryptos earned while playing Star Atlas can be converted into gains. Furthermore, because this game is Solana-based, the gas prices are lower than in Ethereum-based games.
This is yet another dog meme-based initiative that has risen following the meme coin buzz, attempting to attract the attention of Elon Musk.
The truth is, their project appears to be strong and has a compelling narrative. The Tamadoge metaverse crypto was inspired by the Japanese virtual pet Tamagotchi, which was popular in the early 1990s.
The Tamaverse, the cryptocurrency’s metaverse, promises that you will be able to take your NFTs with you everywhere you go and interact with them. This is without a doubt one of the top p2e initiatives of 2022.
Highstreet is a virtual reality marketplace where customers can spend their HIGH cash. The project founders raised $5 million in 2021, and their market cap is more than $20.79 million in July 2022.
Users can buy NFTs and play games on Highstreet in addition to everything else. Furthermore, their Metaverse cryptocurrency HIGH is now accessible for buying on Coinbase, one of the most renowned cryptocurrency exchange platforms.
The Gala Games (GALA)
Gala Games (GALA) has released one game on its platform thus far and as a result, the upside possibility of this initiative is enormous. If they are successful in implementing their strategy, the network might and should become one of Metaverse’s household brands in the future.
The Enjin Coin (ENJ)
Enjin Coin has real-world applications and is primarily targeted at the gaming industry. In addition to changing the gaming industry by encouraging a player-driven economy, the NFT token enables the tokenization and subsequent transfer of in-game assets across several platforms. To circumvent the high gas fees associated with the ETH network, this Ethereum-based network is currently intending on extending into the heterogeneous network known as Polkadot.
The platform SushiSwap is a popular decentralized exchange, which allows users to buy and trade digital currencies without requiring a centralized third party. The success of SushiSwap has resulted in a market capitalization of more than $500 million as of early 2022. Having said that, SushiSwap has since broadened its business strategy by launching an NFT marketplace in collaboration with the Metaverse.
Read our blog on : Metaverse NFT – Development Of New Era
The term Metaverse is presumed to be the internet’s succeeding generation. Metaverse tokens have recently gained popularity, resulting in massive returns for their owners this year. Blockchain and NFTs are recognized as important components of the Metaverse ecosystem’s development. Metaverse cryptos can be purchased by anyone and NFTically can help you find the perfect place to invest.