Although the technology is far from mainstream, it is quickly attracting the attention of tech and cryptocurrency investors. Therefore, Metaverse symbols represent untapped opportunity for the year 2022.
The fact that Facebook, one of the world’s largest tech companies, is betting on the metaverse, and even going so far as to change its name to Meta, is also a plus. The company reportedly spent $10 billion on its metaverse project last year, calling it the future of technology. Cryptocurrencies and blockchain will play a vital role in this journey.
So, Which Metaverse Tokens Should You Buy? Here is an overview of everything you need to know about the metaverse and the best tokens to invest in.
Axie Infinity is a metaverse project that comes close to defining a metaverse, but is essentially a game. Local currency is the token for AXS in the metaverse type of play-to-win game.
Axie has the largest market capitalization of any metaverse cryptocurrency, at over $4 billion. However, the year-to-date performance is -27.68%. This may sound unpromising to many investors, but the value of the coin is starting to rise again. Part of the reason may be the imminent release ofAxi Infiniti: The OriginalA highly anticipated update that adds features and improves game mechanics.
Although it is based on the idea of the metaverse, the VR (Virtual Reality) is not included yet.
Axie Infinity features characters, or Axies, and these hubs are non-fungible tokens that players can purchase and trade. For example, they can create new axes by combining two axes. There is also virtual real estate in the Axie Infinity area, which can attract investors other than gamers. For example, a plot of land that was recently sold $2.3 million.
How does Axie Infinity work?
Users can collect AXS, the Axie token, by playing their game. This game has been a huge success and people are said to have quit their jobs to adopt the “play to win” lifestyle. The game allows its tokens to be used in its metaverse. The AXS token can be converted to ETH and used to buy NFT Axi Market.
2) Sandbox (sand)
Project Metaverse Sandbox has shown great performance. The original code for the platform, sand, has been rising steadily throughout 2021 and finally broke through the $1 mark last quarter, continuing its upward trajectory. As of April 12, SAND is sold for $2.79.
Through the aspect of VR, this project realizes the vision of the metaverse. Sandbox is basically a game, and it has the support of game brands like Atari. HSBC recently bought virtual real estate in its primary domain. But it relies heavily on creation and circulation NFT’s. Players can generate NFTs using tokens from the SAND metaverse.
Like countless other cryptocurrency projects, this is Based on Ethereum.
Read also Metaverse: Here’s How The Metaverse Will Change Our Lives! Dive into a potential future
Another promising factor is that it has a limited coin reserve of 3 billion tokens, of which 1.14 billion are in use. It has a market capitalization of $3.27 billion as of April 12th.
How does Sandbox work?
Sandbox presents creators True ownership of their innovations In the form of non-fungible tokens (NFTs) and rewards them for participating in ecosystem transactions and interactions, such as transaction fees, purchase and sale of game items, etc.
Game Maker allows anyone to create amazing 3D games for free. No coding is required Users can access visual scripting tools to create visually stunning games in minutes With Marketplace users can upload, publish and sell their creations created with VoxEdit.
3) Decentraland (MANA)
In terms of popularity, Decentraland is a cryptocurrency metaverse project that has often been making the news. This is partly due to the NFT craze, which has also led to significant gains for the platform’s native token, MANA.
Many NFT owners have started using the platform to display their NFTs. But NFTs are not the only thing in this metaverse platform. Its main advantage is that you can also Buying a virtual landHence its name.
Sotheby’s, a luxury goods and arts broker, purchased land in Decentraland and used it to create a replica of its London offices. This shows that even big companies look to Metaverse projects.
Created in 2017, Decentraland is one of the oldest projects that took time to gain recognition. Although MANA’s performance was not very stellar, its market capitalization reached $4.79 billion at the beginning of 2022, making it Biggest Metaverse Code by market value. Like many, if not most, cryptocurrencies, MANA has fallen significantly since the beginning of the year, but is up 115% year-over-year.
How does Dicentraland work?
MANA, the original token that underpins the ecosystem, has a bid of 3.9 billion. Currently, there are 1.8 billion tokens in circulation. Gamers, creators and companies looking to take advantage of the metaverse opportunities and enjoy using this platform. With a large target audience, the coin is in great demand. This is what makes Decentraland a worthwhile purchase.