The term “metaverse” appeared to be all over the news, social media, and even at the dinner table these days. The technology is still in its infancy. It has piqued the curiosity of IT and crypto investors. As a result, metaverse coins offer a once-in-a-lifetime opportunity in 2022.
It also helps that Facebook, one of the world’s largest tech giants, is betting heavily on the metaverse. The endeavor, which the firm refers to as “the future of technology,” has already cost the company $10 billion. In that journey, cryptocurrencies and blockchain will be critical.
So, what’s the deal with cryptocurrencies and the metaverse? What exactly is a metaverse, and what does it entail? Should you invest in any other metaverse tokens? All you need to know about the metaverse, including where to get the best currencies, is right here.
What Are Metaverse Coins?
The Metaverse is the software that powers a virtual universe where individuals can shop, play games, buy and sell currencies and things, and more. Consider it a cross between augmented reality, virtual reality, social networking, gaming, and cryptocurrency.
Current Metaverse Projects
Several metaverse projects are already in the works, and their tokens may be purchased, with some even getting listed on cryptocurrency exchanges. These projects are attracting the attention of both crypto investors and fans due to their potential.
Virtual games to non-fungible token marketplaces are among the Metaverse projects, each concept, and real-world applications.
A Guide To The Best Metaverse Coins
The good news is that coin prices are still modest because metaverse enterprises are still in their infancy. As a result of this, almost everyone can invest. That does not, however, imply that all endeavors are worthwhile.
It’s ideal putting your money into metaverse coins that have demonstrated their worth in the past by performance, financial backing, or both. The top 2022 metaverse cryptocurrencies are listed here.
- Axie Infinity (AXS)
Axie Infinity is a metaverse project that comes closest to the definition of the term, but it’s primarily a game. In this metaverse game, the local money is the AXS token, which has performed admirably over the last year.
Axie has a market of over $5 billion, making it one of the most valuable metaverse cryptos. The YTD performance, however, is -20.91 percent. For many investors, this may not appear optimistic, but the coin’s value has begun to increase again.
Although it gets built on the metaverse, VR has yet to get included. However, it gets built on the blockchain and cryptography. That is to give the public control.
Characters, or Axies, appear in the Axie Infinity game, and those Axies are NFTs that gamers may buy and sell. They can, for example, breed new Axies by combining two Axies. In the Axie Infinity metaverse, there’s also virtual real estate, which could attract non-gamers as investors. A block of land, for example, was sold for $2.3 million.
- Sandbox (SAND)
The Sandbox, a crypto metaverse project, has performed admirably. SAND, the platform’s native token, has been steadily rising throughout 2021, finally crossing the $1 barrier in the fourth quarter, maintaining its upward trend.
This project realizes the metaverse concept with a VR component. It’s a game, but it’s mainly reliant on the creation and trading of NFTs. The SAND metaverse tokens can get used to generate NFTs.
This project, like a slew of others, is built on Ethereum. Another appealing feature is the finite coin supply of three billion tokens, of which over 680 million are already in circulation. As of January 19, 2022, its market capitalization is $3.690 billion. This cryptocurrency had a YTD performance of 462.52 percent, demonstrating its strength.
- Decentraland (MANA)
Decentraland is a popular crypto metaverse project that has been in the press a lot recently. That was mainly due to the NFT frenzy, which saw MANA, the platform’s native coin, gain a lot of value.
Many NFT proprietors began to use the platform to display their wares. However, NFTs aren’t the only thing available on this metaverse. Its key feature is to purchase virtual land, hence the name.
Sotheby’s, a luxury goods and art broker, purchased a block of land in Decentraland and built a copy of their London offices there. That demonstrates that even large corporations are interested in metaverse projects.
It’s one of the older initiatives that has taken longer to gain traction, having to get created in 2017. Although MANA’s performance hasn’t been stellar, its market capitalization of $6 billion as early 2022 is noteworthy. The year-to-date performance is 247.45 percent.
- Highstreet (HIGH)
Highstreet is a fascinating metaverse project with promise for metaverse uses. For starters, you can use the currency HIGH to shop for items within this virtual realm. The gaming platform has already incorporated Shopify merchants.
From the world — or, in this case, the metaverse — this initiative has already achieved what the metaverse technology promised. That is a good alternative if you’re an investor who looks at practicality as a criterion.
HTC is behind the initiative, which received $5 million in funding in August 2021. It has a market capitalization of over $85 million as of January 2022. The coin’s value has climbed by at least 90% since its launch in October 2021.
It also has gaming and NFTs on its radar, indicating that it is current on tech and crypto trends.
- Floki Inu (FLOKI)
Yes, Floki Inu is another dog-meme-based cryptocurrency, but it’s a contender for a viable metaverse cryptocurrency — especially for those looking for cheap coins. Elon Musk’s dog, a Shiba Inu, inspired the currency, also the name of another cryptocurrency project.
According to the project’s website, the goal is to merge memes with real-world applications. It also claims to be launching a game and an NFT marketplace. People have been buying FLOKI tokens, although the project is still in its early stages.
Metahero is a new metaverse initiative that uses 3D scanning to create high-definition avatars of real-world objects and people. In Doha, the company has even set up a scanning room that scans objects and creates a digital, 3D version for the Metahero realm.
For this, they’ve teamed up with Wolf Studio. As of the beginning of 2022, the native cryptocurrency HERO has a market valuation of around $494 million. Although this is a lower amount than some of the other tokens on this list, it is due to the project’s infancy.
- Terra Virtua Kolect (TVK)
Terra Virtua Kolect is a project that started in 2017 before NFTs got even invented. However, it is now a virtual environment focused solely on NFTs. Using the native tokens TVK, you can generate, sell, and purchase NFTs from other members.
The platform’s Terra Forma tools get used to creating NFTs. Given the spike in NFT investment, this initiative, based on NFTs, has enormous potential.
- Star Atlas (ATLAS)
The metaverse project Star Atlas gets based on a video game. The game takes place in the future — specifically, the year 2620 — and allows players to conquer land and gather resources in a futuristic scenario.
It does, however, have a metaverse token, ATLAS, which can get obtained through gameplay. Consider it a typical reward-based game in which you earn coins by playing and completing objectives. However, in this circumstance, the benefits could be beneficial.
Metaverse initiatives are springing up left and right, but some have real potential and stand out. The metaverse concept gets heavily founded in blockchain and crypto. Investing in some of these ventures may be a good option. Furthermore, the NFT buzz appears to be growing.
However, as with any other investment, don’t put all your eggs in one basket when it comes to metaverse coins. It’s advisable to diversify your holdings and, more crucially, purchase coins that you believe have promise.