Although the technology is far from mainstream, it is quickly catching the attention of tech and cryptocurrency investors. Therefore, Metaverse represents Tokens an untapped opportunity for 2022.
That one of the largest technology companies in the world, Facebook, is betting on the meta-verse, even going so far as to change its name to Meta, is also a plus. The company reportedly spent $ 10 billion on its metaverse project last year, calling it the future of technology. Cryptocurrencies and blockchain will play a crucial role in this journey.
So which Metaverse tokens should you buy? Here’s an overview of everything you need to know about the meta verse and the best tokens to invest in.
1) Axie Infinity (AXS)
Axie Infinity is a metaverse project that approaches the definition of metaverse, but is basically 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 values of any metaverse cryptocurrency of over $ 4 billion. However, the YTD yield is -27.68%. This may seem unpromising to many investors, but the value of the coin has begun to rise again. Part of the reason could be the impending launch ofAxie Infinity: Origina much awaited update that adds features and improves game mechanics.
Although it is based on the idea of the meta-verse VR (virtual reality) is not included so far.
The Axie Infinity game features characters or Axies, and these Axies are non-fungible tokens that players can buy and exchange. For example, they can create new axes by combining two axes. There is also virtual real estate in the meta-verse of Axie Infinity, which could attract investors other than gamers. For example, a piece of land that has recently been sold for $ 2.3 million.
How does Axie Infinity work?
Users can collect AXS, the Axie token, by playing their games. This game has been hugely successful and people are said to have quit their jobs to adopt the “play to win” lifestyle. The game allows you to use your tokens in its metavers. The AXS token can be converted to ETH and used to purchase NFTs Axie Marketplace.
2) Sandbox (SAND)
The metaverse project The Sandbox has shown an impressive performance. The platform’s original token, TRUE, has been steadily rising through 2021 and finally broke through the $ 1 mark in the last quarter and continued its upward trajectory. As of April 12, SAND sells for $ 2.79.
With a VR aspect, this project realizes the vision of the meta-verse. Sandbox is basically a game, and it has the backing of game brands like Atari. And HSBC recently bought virtual real estate in its metaverse. But it is strongly based on creating and acting NFTs. Players can create NFTs using tokens from the SAND meta-verse.
Like countless other cryptocurrency projects, this one is based on Ethereum.
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Another promising factor is that it has a limited coin reserve of 3 billion tokens, of which 1.14 billion are in use. Its market value is $ 3.27 billion per. April 12.
How does Sandbox work?
Sandbox offers creators genuine 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, stakes or the purchase and sale of gaming items, etc.
Game Maker gives everyone the opportunity to create amazing 3D games for free. No coding required, as users can access visual scripting tools to create visually stunning games in minutes with Marketplace, where users can upload, publish and sell their creations made with VoxEdit.
3) Decentraland (MANA)
In terms of popularity, Decentraland is a cryptocurrency meta-project that has often made the news. This is due in part to NFT craze, which has also led to significant gains for the platform’s native tokens, MANA.
Many NFT owners have started using the platform to showcase their NFTs. But NFTs are not the only ones on this metaverse platform. Its main function is that you can too buy virtual landhence the name.
Sotheby’s, the luxury goods and art broker, bought land on Decentraland and used it to create a copy of his London offices. This shows that even large companies are looking at metaverse projects.
Decentraland was established in 2017 and is one of the oldest projects that took time to gain recognition. Although MANA’s performance has not been particularly excellent, reaching its market value of $ 4.79 billion in early 2022, making it largest metaverse token at market value. Like many, if not most, cryptocurrencies, MANA has declined markedly year-to-date, but has risen 115% from a year ago.
How does Decentraland work?
MANA, the native token that drives the ecosystem, has a supply of $ 3.9 billion. Currently, there are 1.8 billion tokens in circulation. Players, creators and companies looking to take advantage of metaverse opportunities and be entertained use this platform. With a large target group comes a great demand for the coin. That is what makes Decentraland a valuable purchase.