Even if the technology is far from mainstream, it quickly grabs the attention of technology and cryptocurrency investors. Thus, the Metaverse Token represents an opportunity not available for 2022.
The fact that one of the world’s largest tech companies, Facebook, is betting on the metaverse, despite changing its name to Meta, is also a plus. The company reportedly spent $ 10 billion on the metaverse project last year, calling it the future of technology. Cryptocurrencies and blockchains play an important role in this journey.
So, what Metaverse Token will you buy? Here’s a general idea of everything you need to know about the metaverse and the best tokens to invest in.
1) Axie Infinity (AXS)
Axie Infinity is a metaverse project that approximates the meaning of the metaverse, but is a game. The local currency is the AXS token in this play-to-earn type of metaverse game.
Axie has one of the largest market capitalizations of any cryptocurrency metaverse, at over $ 4 billion. However, the YTD performance was -27.68%. This may seem bad to many investors, but the value of the coin is starting to rise again. Part of the reason may be the impending launch ofAxie Infinity: Beginningan anticipated update that adds features and improves the game’s mechanics.
Even if based on the idea of the metaverse, the VR (virtual reality) has not been included to date.
The Axie Infinity game has characters, or Axies, and these Axies are non-fungible tokens that players can buy and sell. For example, they can create new Axies by combining two Axies. There is also virtual land in the metaverse of Axie Infinity, which will attract investors other than players. For example, a piece of land that has just been sold $ 2.3 million.
How does Axie Infinity work?
Users can collect AXS, the Axie token, by playing their game. This game has been hugely successful, and people are said to have quit their jobs to use the “game to win” lifestyle. Allows the game to use its tokens in its metaverse. The AXS token can be exchanged at ETH and used to purchase NFTs Axie Marketplace.
2) Sandbox (SAND)
The Metaverse project The Sandbox put on an impressive performance. The native sign of the platform, sand, continued to rise throughout 2021 and finally broke through the $ 1 mark last quarter, continuing the upward trajectory. As of April 12, SAND is trading at $ 2.79.
With a VR aspect, this project realizes the vision of the metaverse. Sandbox is a game, and it has support for game brands like Atari. And HSBC recently bought virtual real estate in its metaverse. But it’s based heavily on making and selling NFTs. Players can perform NFT using tokens from the SAND metaverse.
Like countless other cryptocurrency projects, this one based on ethereum.
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Another commitment factor is that it has a limited coin reserve of 3 billion tokens, of which 1.14 billion are in use. Its market capitalization stood at $ 3.27 billion as of April 12th.
How does Sandbox work?
Sandbox offers to creators true ownership of their creations in the form of non-fungible tokens (NFTs) and reward them for participating in ecosystem transactions and interactions, such as transaction fees, staking or buying and selling in-game items, and so on.
Game Maker allows anyone to create amazing 3D games for free. No coding is required as users can access visual scripting tools to create visually stunning games in minutes in the Marketplace where users can upload, publish and sell their creations made using VoxEdit.
3) Decentraland (MANA)
In terms of popularity, Decentraland is a cryptocurrency metaverse project that always makes the news. This is in part due to the NFT craze, which has also led to significant gains for the platform’s native token, MANA.
Many NFT owners are starting to use the platform to display their NFTs. But NFTs are not the only thing on this metaverse platform. The main part of this is that you can too purchase and virtual landhence its name.
Sotheby’s, the luxury goods and art broker, bought land in Decentraland and used it to make a replica of its London offices. This shows that even large companies are looking at projects in the metaverse.
Launched in 2017, Decentraland is one of the oldest projects that takes time to identify. Even if MANA’s performance isn’t very good, its market capitalization reached $ 4.79 billion at the start of 2022, making it largest metaverse token by market capitalization. Like most, if not most, cryptocurrencies, MANA has declined sharply year-to-date, but up 115% annually.
How does Decentraland work?
MANA, the native landmark that drives the ecosystem, has a supply of 3.9 billion. Currently, there are 1.8 billion tokens in circulation. Players, creators, and businesses looking to take advantage of metaverse opportunities and enjoy using this platform. With a large target audience comes a high demand for the coin. That’s what makes Decentraland such a lucrative buy.
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