The advent of Metaverse has taken the entire cryptocurrency market and crypto games in a new direction. The mere fact behind the rename of Facebook speaks volumes about the potential Mark Zuckerberg sees in the future of the Metaverse.
Metaverses offer their users a fully immersive experience that uses the blockchain and gamified DeFi mechanisms to provide a digital internal and functional economy. Cryptocurrencies are a logical choice for exchanging value in a metaverse; they can be easily spent on products and services worldwide and earned through various means, from buying and selling assets to creating content and even renting.
It is possible to buy in-game assets like land and items with Metaverse tokens or native cryptocurrencies. There are also “play to earn” games that allow users to earn more Metaverse tokens and NFTs through reward systems.
What are Metaverse Tokens?
The Metaverse is the technology behind a virtual universe where people can shop, play, buy and trade currencies and items. Consider it a combination of augmented reality, virtual reality, social networking, and NFT gaming.
Within the Metaverse, cryptocurrencies will serve as money. It is based on the blockchain concept. Moreover, it naturally gives rise to the terms “Metaverse Coins,” “Metaverse Tokens,” and “Metaverse Crypto.” Each Metaverse project has tokens that users can use for transactions in this environment.
Metaverse Tokens- Where to Buy?
Several projects on Metaverse have already been launched, and their tokens are available for purchase; some are even listed on certain coin exchanges. Cryptocurrency investors and enthusiasts have been watching these projects as they have potential.
According to Macro, a UK-based research firm, metaverse currencies will outperform Bitcoin by 37,000% by 2022. Meanwhile, the largest cryptocurrency in the market, Bitcoin, has a value rise of 100%.
Metaverse projects range from virtual gaming to non-gaming token markets, each with a unique concept and even some real-world applications.
XANA is a blockchain-based Metaverse based on a game with impressive graphics. The game is set in the future – where players can conquer virtual worlds and collect resources in a futuristic environment. The native token of this universe is $XETA.
In XANA, users can create their own characters, communicate with other users, buy and sell land and real estate, as well as in-game items or explore the ever-growing world of this metaverse project. Within XANA, users can perform transactions in $XETA, and its popularity makes it one of the best metaverse cryptocurrencies.
ApeCoin is the latest project from Yuga Lab, the developers of the famous Bored Ape Yacht Club NFTs. These metaverse coins were developed for the Otherside game, and holders of the tokens will have exclusive access to products in the Ape ecosystem. Before the launch of Otherside, Yuga Labs raised $320 million by selling virtual land, generating so much traffic that the Ethereum network was forced to increase gas prices. This caused a drop in Ape token sales and reduced the token’s price.
The current price of this Metaverse coin is around $3. Despite the many problems Yuga Labs had, ApeCoin has a market value of $1.9 billion, making it the Metaverse coin with the highest market value.
Sandbox is one of the oldest projects in the Metaverse and one of the most popular. Sandbox was released in 2021, and although it was initially a game, they later integrated the Metaverse into their projects.
The Sandbox allows users to build, buy and sell in-game assets, and acquire virtual land and property. In addition, users can sell real estate on the open market.
The native SAND token was first issued on public exchanges in mid-2020 with an initial price of $0.051 per token. However, this price rose to $8.44 in November 2021. The token is currently trading at around $1.43 and had a market value of $1.81 billion in July.
Star Atlas Token
This is a game-based metaverse project in which users get an ATLAS token if they win. The game ecosystem is set in the future, where players conquer countries and collect resources.
In the game, the world is at war between three factions:
- The MUD sector, controlled by humanity
- The ONI sector, an association of alien races
- Intelligent androids control the Ustur sector
These factions compete for resources, supremacy, and territory, and Star Atlas players can influence the outcome of the conflict.
In this game, players receive rewards like any other P2E game. But in this case, ATLAS tokens earned by playing Star Atlas can be converted into rewards. In addition, this game is built on Solana, which means that the cost of gas is lower than in Ethereum games.
Axie Infinity Token
This project is about digital breeding animals that users can collect and breed. After mining, the digital animals can be offered as NFTs and sold on the open market. In other words, the Axis powers are wild creatures that like to fight, hunt, and build in search of treasure. Players form Axis teams, each of which has its strengths and weaknesses. They can also mix and match parents to create their Axis race. After forming teams, players can buy land, find their kingdom, and my rare resources.
According to many experts, Axie Infinity is one of the best metaverse cryptocurrencies of 2022. After its launch in 2020, the price per AXS, the native token of this game, was $0.15 per token. In November 2021, the value of this token was about $165, which means that AXS has increased by almost 110,000%!
The Bottom Line
Metaverse projects abound, but some have real potential and stand out above the rest. The concept of Metaverse is deeply rooted in blockchain and cryptocurrencies, so investing in some of the projects mentioned earlier could be a good idea. Moreover, the hype around NFT only seems to be getting worse.
But, as with any other investment, don’t put all your money into one type of metaverse currency, and don’t invest money you can’t afford to lose. It’s best to diversify and, above all, buy coins that you think have potential.