Cryptocurrencies and NFT have caused unrest in all industries this year. More recently, the metaverse has become a favorite word of investors, brands and celebrities. With the rise of decentralized finance (Dufe) and the metaverse, a variety of metaverse coins and tokens have also been in the spotlight, achieving significant growth over the year. With only a few days left until 2022, the coming year is full of opportunities for metaverse coins.
What are metaverse coins and NFT tokens?
First of all, what is a metaverse? It is a virtual world that uses technologies such as virtual reality (VR), augmented reality (AR) and mixed reality (MR) to blur the line between the physical and digital world. In the metaverse, you can move around as avatars, attend meetings, concerts and events, meet and chat with friends, play games, shop and much more!
Metaverse tokens and coins are a virtual currency that people use in metaverse. Imagine that you are going to a shopping mall in the real world. You will have to pay in fiat currency to buy clothes, watch a movie or play games. Similarly, you will need metaverse tokens for any kind of transactions in the virtual world. Since the metaverse is based on blockchain, transactions are secure and happen almost instantly.
Most virtual worlds have their own tokens, either in the form of cryptocurrencies or in the form of NFT. Some of them have additional advantages, for example, the right to manage. In addition, they can be exchanged for fiat currencies. Although some metaverse coins are only available in the corresponding virtual world, you can also purchase them on popular exchanges.
Why has there suddenly been a stir around tokens and coins of the metaverse?
Although the metaverse and its various tokens and coins are not new, it was Facebook’s rebranding to Meta and subsequent transition to the metaverse this year that attracted attention to them. This announcement inflated the value of the coins of the metaverse overnight. Since then, various metaverse items, such as virtual real estate, have been sold like hot cakes. Recently, the Metaflower NFT super yacht was even sold for $650,000! The metaverse fever is far from over, and it will get even bigger and better in 2022.
10 metaverse Coins and Tokens worth Keeping an Eye On in 2022
When it comes to metaverse tokens, the sky is the limit! With so many options to choose from, it can be difficult to choose the best ones. Therefore, we have compiled a list of the best metaverse coins for you (in no particular order)!
Decentraland (MANA): The best token of the metaverse.
Market value: $7.15 billion
Indicators since the beginning of the year: 4872.8%
Decentraland has established itself as one of the most popular metaverses at the moment. It is a fully decentralized 3D virtual world where people buy plots of land to create galleries, games, casinos and much more. Metaverse is based on the Ethereum blockchain and is liked by many. Therefore, it is not surprising that Decentraland’s native token, MANA, currently has the highest market capitalization – $7.15 billion, according to CoinMarketCap. In total, 2.2 billion MANA are in circulation, of which 1.8 billion are in circulation. At the time of writing, it was trading at $3.93.
Axie Infinity (AXS)
Market capitalization: $6.77 billion
Indicators since the beginning of the year: 19051.5%
Axie Infinity Shards or AXS is the management token of Axie Infinity, the largest game in the genre of “play and earn”. In the game, which is very similar to Pokémon, players can buy, sell, exchange and breed digital monsters called Axies. Each Axie is a unique NFT with which players can fight with others and earn AXS as a reward. They can also trade Axi and other in-game items on trading platforms. Axie Infinity became so popular that it became the best-selling NFT collection in the third quarter of 2021, gaining $2.08 billion during this period alone.
The growing popularity of the game has also led to AXS taking the place of one of the largest gaming cryptocurrencies. According to CoinMarketCap, AXS is trading at $111.21, and its market value is $6.77 billion (at the time of writing). As a management token, AXS holders get a say in making various decisions in the game ecosystem. You can buy a token on several exchanges, including Binance, Upbit and FTX.
The Sandbox (SAND)
Market capitalization: $6.18 billion.
Dynamics since the beginning of the year: 17581.3%
The Sandbox is another highly rated metaverse on the Ethereum blockchain. As in the case of MANA, The Sandbox’s ERC-20 token, SAND, is used for all transactions in the virtual world. The company also has two other tokens: LAND, which is a virtual real estate, and ASSETS, which is a token developed by players. Currently, the price of the SAND token is $6.71, and the trading volume in 24 hours is $1.22 billion.
In this 3D metaverse, you can trade LAND, enjoy gamified experiences such as games and challenges, and earn rewards. Moreover, you can use tools like VoxEdit and Game Maker to create VALUES and 3D games. The sandbox boasts that such famous companies as PwC Hong Kong, Adidas, as well as celebrities such as Deadmau5 and Snoop Dogg worked in it. Someone even paid over $450,000 to become Snoop Dogg’s neighbor in the metaverse! After the successful first Alpha season, the virtual world is ready for the second Alpha season.
My Neighbor Alice (ALICE)
Market value: $473.17 million.
Currently, ALICE, the native cryptocurrency of the My Neighbor Alice blockchain game, is trading at $15.61 and is another hot coin of the metaverse, which is worth keeping an eye on in the market. According to CoinGecko, over the past seven days, the token has grown by 30.4%, and the trading volume in 24 hours amounted to $156.7 million. While the total offer is 100 million, the turnover offer is 30.6 million.