The phrase “metaverse” (or “Metaverse coins to invest in”) appears to be widely used in the media and on social media already. Even though this technology is still not widely used, IT and cryptocurrency investors are starting to pay attention. As a result, 2022 will be an excellent year for Metaverse tokens.
One of the biggest technology companies in the world, Meta (banned in Russia), is betting on the Metaverse and even changed its name from Facebook for this. This is a further favorable development for the market. According to reports, the business invested $10 billion in its Metaverse project last year, describing it as the technology of the future. Blockchain technology and cryptocurrencies will be crucial in this direction.
We will examine the relationship between the Metaverse and cryptocurrencies, the definition of the Metaverse, the best Metaverse coins to invest in, and everything else you need to know about the Metaverse.
What are Metaverse Coins?
A virtual realm called the Metaverse allows users to play games, purchase and sell goods and currencies, among other things. This technology can be compared to a hybrid of augmented reality, virtual reality, social media, video games, and cryptocurrencies.
Cryptocurrencies will act as currency in the Metaverse. It is based on the blockchain idea. The names “Metaverse coins,” “Metaverse tokens,” and “Metaverse crypto” logically follow from this. Tokens are utilized for transactions in each individual Metaverse project’s setting.
What are the best Metaverse Coins to invest in?
The good news is that because the Metaverse initiatives are still in their early stages, their coin prices are relatively affordable—often considerably below $1 and even as low as one cent in certain instances. This makes practically everyone eligible for investing opportunities. However, this does not imply that every endeavor will be successful.
It is best metaverse coins to invest in that have promise based on performance, utility, robust financial support, or any combination of the three.
These Metaverse coins look good for 2022.
1. ApeCoin (APE)
Since APE is an ERC-20 token, the Ethereum blockchain hosts it. As a utility and governance token, it enables owners to take part in the management of the Ape ecosystem and grants them access to games and other goods and services that are only available to ApeCoin owners.
Owners of ApeCoin will soon be able to utilize their tokens in Otherside, the Metaverse developed by Yuga Labs, the company behind the wildly successful Bored Apes Yacht Club Non-Fungible Tokens (NFTs). In a recent virtual land sale, Yuba Labs reportedly generated roughly $320 million, enabling owners of APE tokens to buy lands in Otherside. While 45,000 of the lots went to people like the proprietors and project developers of NFT Yuba Labs, the owners bought 55,000 of them. The sale generated so much activity on the Ethereum network that it considerably raised the “gas charge,” or the cost associated with using Ethereum for transactions.
When Apecoin went live on March 17, it was anticipated that roughly 30% of its total 1 billion coin supply will be in circulation. It is the largest coin in the Metaverse by that measure, despite being a brand-new token with a market cap of only $2.435 billion.
2. Sandbox (SAND)
The Sandbox Metaverse project has produced some noteworthy outcomes. SAND, the native token of the platform, has been rising gradually throughout 2021 and eventually crossed the $1 threshold in the last quarter of last year, continuing its upward trend. SAND is now going for $1.32 as of May 26.
This project implements the Metaverse’s vision through the use of virtual reality. The Sandbox, which is supported by gaming companies like Atari, is essentially a game. Recently, HSBC bought virtual property in this Metaverse. SAND Metaverse tokens can be used by players to construct NFTs.
The Sandbox is an Ethereum-based cryptocurrency project, like many others.
The project’s limited coin supply of 3 billion tokens, of which 1.23 billion are in circulation, is another encouraging aspect for investors. As of May 26th, its market cap was $3.96 billion.
3. Decentaland (MANA)
One of the more well-known crypto-Metaverse projects that frequently makes headlines is Decentraland. This was partially brought on by the NFT frenzy, which also saw a substantial increase in MANA, the platform’s native coin.
The site is now being utilized by many NFT holders to display their NFTs. However, this Metaverse platform contains more than only NFT. The primary purpose of the project is to enable the creation of virtual games, virtual real estate, and other digital assets.
A plot of property in Decentaland was purchased by the luxury goods and art trader Sotheby’s, and it was utilized to mimic its London offices. This implies that even big businesses are interested in the projects the Metaverse offers.
One of the earliest projects that has taken longer to develop popularity is Decentraland, which was founded in 2017. MANA is the second-largest Metaverse token by market capitalization, despite its lackluster performance, with a market cap of $2.15 billion as of May 26. MANA has experienced a considerable fall since the start of the year, similar to many, if not most, cryptocurrencies, but is still up over 8% on an annualized basis.
4. High street (HIGH)
An intriguing VR-enabled Metaverse project with promise, at least in terms of Metaverse applications, is Highstreet. First first, you can use the HIGH currency in the project to buy purchases in this virtual world. The platform already includes some Shopify stores. As it follows technological and cryptographic advancements, it also offers games and wants to introduce NFTs. Additionally, HIGH is now accessible through Coinbase.
From the perspective of the real world, or in this case, the metaworld, this project has already achieved the goals set forth by the Metaverse technology. Investors who value practicality may choose to focus on this project.
HTC, a tech business, is supporting the initiative, which raised $5 million in August 2021. As of May 26, 2022, it has a market value of more than $24.9 million.
5. Floki-Inu (FLOKI)
Another cryptocurrency inspired by dog memes, Floki Inu is searching for a viable Metaverse, especially for those seeking out cheap cryptocurrencies. The currency bears Elon Musk’s Shiba Inu dog’s name, which also happens to be the name of another cryptocurrency project.
According to the project’s website, it tries to incorporate real-world use cases with memes. Additionally, it states that it will introduce a content and educational platform, as well as an NFT game and marketplace. Despite the fact that this project is still in its early stages, people have continued to purchase FLOKI tokens.
As of May 26th, Floki Inu has a $89.6 million market value and is trading for $0.0000008977.
Current Metaverse Projects
There are several active Metaverse projects whose tokens can be bought, some of which are even listed on specific exchanges. These projects have caught the attention of both crypto investors and fans due to their strong potential.
According to Macro, a UK-based research company, Metaverse currencies outpaced Bitcoin in 2021 with a staggering 37,000% growth. The largest cryptocurrency by market value, Bitcoin, is up 100% in the meanwhile.
Virtual games and non-fungible tokens are only a couple of the initiatives in the metaverse that each provide a different concept and even some real-world applications.
There are constantly new Metaverse projects popping up, but some have the potential to be truly great. Considering how deeply ingrained blockchain and cryptocurrencies are in the idea of the Metaverse, it may be a smart idea to invest in some of these initiatives.
But just as with any other investment, don’t put all of your money into one Metaverse enterprise, and never put money into an investment that you can’t afford to lose. It is preferable to spread out your investments, and even more crucially, purchase metaverse coins to invest in with upward potential.