Everywhere you look these days, the phrase “metaverse” appears – in the news, on social media, and even at the dinner table. Despite the fact that the technology is still in its infancy, it is swiftly gaining the interest of IT and cryptocurrency investors. Consequently, metaverse coins represent an unexplored possibility for 2022 investors.
It also helps that one of the world’s largest technology corporations, Facebook, is placing its bets on the metaverse, even going so far as to rename the company to Meta (metaverse). According to reports, the business spent $10 billion on its metaverse project last year, which it describes as “the future of technology.” The use of cryptocurrencies and blockchain technology will be critical in this endeavour.
So, what is the relationship between the metaverse and cryptocurrencies? What precisely is the metaverse? In addition, which metaverse tokens should you be purchasing? Everything you need to know about the metaverse and the best cryptocurrencies to invest in is covered in this guide.
What Are Metaverse Coins?
The Metaverse is the technology that underpins a virtual environment in which individuals may shop, play, purchase and sell currencies and goods, and do a variety of other things. Consider it a hybrid of augmented reality, virtual reality, social media, gaming, and cryptocurrency.
Best Metaverse Coins To Buy Right Now
The good news is that because metaverse initiatives are still in their early stages, coin values are extremely cheap – in many cases, much below $1, and in some situations, less than 1 cent. This makes it possible for practically everyone to participate in the investing opportunity. At the same time, this does not imply that all initiatives are worthwhile investments.
It’s ideal to buy those metaverse coins that have shown potential through performance, powerful financial backing or both.
Here are the top metaverse crypto coins for 2022.
1. Axie Infinity (AXS)
Axie Infinity is a metaverse project that is closer to the concept of the metaverse than it is a game, although it is still a game in the traditional sense. The AXS token serves as the game’s local currency in this play-to-earn metaverse game.
Axie has one of the greatest market capitalizations of any metaverse cryptocurrency, with a market capitalization of more than $4 billion. However, the year-to-date result is a negative 27.68 percent. Although this may not appear to be optimistic for many investors, the coin’s value has just begun to climb once more.
An important factor might be the forthcoming release of Axie Infinity: Origin, a much-anticipated update that will introduce new features while also improving the game’s gameplay mechanics.
Despite the fact that it is built on the concept of the metaverse, there is no mention of virtual reality at this time.
In the game Axie Infinity, characters, known as Axies, appear, and those Axies are non-fungible tokens that gamers may purchase and exchange with one another.
For example, they may create new Axies by merging the genetics of two existing Axies. The Axie Infinity metaverse also has virtual real estate, which may attract more investors who aren’t only video game players. A block of land was sold for $2.3 million, for example.
2. Sandbox (SAND)
This year’s performance of the crypto-metaverse project The Sandbox has been outstanding. SAND, the platform’s native token, has been steadily increasing in value throughout 2021, and it finally exceeded the $1 threshold in the past quarter, indicating that it will continue on its upward trend. SAND is now selling for $3.40 per pound as of March 26.
This project, which includes a VR component, is bringing the metaverse concept to fruition. The Sandbox is basically a video game, and it has the support of major video game companies such as Atari. In addition, HSBC has bought virtual real estate in its metaverse (virtual reality).
However, it is primarily reliant on the generation and trading of non-fungible tokens. The SAND metaverse tokens may be used to build NFTs by the players.
3. Decentraland (MANA)
Decentraland is a crypto-metaverse project that has received a lot of attention recently due to its widespread appeal. Among other things, this was due to the popularity of NFTs, which also resulted in considerable increases for the platform’s native tokens, MANA.
4. Highstreet (HIGH)
Highstreet is an intriguing metaverse project that includes virtual reality support and has the potential to be useful, at least in terms of metaverse application development. For starters, you may shop for items within this virtual environment by utilising the virtual money HIGH (high-end virtual currency). Some Shopify stores have already been incorporated into the gaming platform, according to the company.
From the perspective of the actual world — or, in this case, the meta world — this initiative has already accomplished what the metaverse technology promises. If you’re an investor that prioritises pragmatism over everything else, this could be an excellent choice for you.
The initiative is funded by the technology giant HTC, and it obtained $5 million in funding in August 2021. It has a market capitalization of more than $75 million as of March 2022. As of October 2021, the coin’s value has climbed by at least 43 percent, making it the most valuable coin ever created.
5. Enjin (ENJ)
Enjin is one of several games that use metaverse currencies, and it’s no different from the rest. You may “mint” the local token, ENJ, which you can then use to purchase things that will assist you in your game progression.
Everything in the game, from medication to character development, can be purchased with ENJ in the same way that an NFT can be purchased. As a result, it functions similarly to a marketplace.
6. Metahero (HERO)
It is the goal of Metahero, a new metaverse initiative, to create high-definition avatars of real-world items and people using 3D scanning technology. The business has even established a scanning chamber in Doha, Qatar, which scans items and generates a digital, three-dimensional representation of them for use in the Metahero universe.
Metahero has formed a partnership with Wolf Studio to accomplish this goal. As of March 2022, the cryptocurrency HERO, which serves as its native currency, had a market capitalization of more over $252 million. Although this is a lower amount than some of the other tokens on our list, this is due to the fact that the project is still in its early stages.
Metahero’s year-to-date performance is -62.53 percent, which is not out of line when compared to the performance of other alternative cryptocurrencies. Its recent listing on the Bybit market may provide a significant boost.
7. Terra Virtua Kolect (TVK)
Terra Virtua Kolect is a project that began in 2017, at a time when NFTs were not even a thing to talk about. However, it is now a virtual environment that is entirely devoted to NFTs. TVK is a native token that may be used to manufacture NFTs, sell NFTs, and buy NFTs from other members.
Because this initiative is dependent on NFTs, it has enormous potential, especially considering the recent boom in NFT investment. According to CoinMarketCap, the platform is interoperable with web, PC, and augmented reality/virtual reality (AR/VR) settings.
The market capitalization of TVK currently stands at more than $87.73 million, with a year-to-date performance of -39.54 percent.
8. Star Atlas (ATLAS)
Star Atlas is a metaverse project that is based on a video game that has outstanding visuals. The game takes place in the future — in the year 2620, to be precise — and allows players to conquer territory and gather resources in a radically futuristic environment.
The game, which is currently in the early stages of development, will also include a metaverse token, ATLAS, which will be gained by participation in the game. Consider it to be a typical reward-based game in which you earn coins as you play and complete tasks. However, in this particular instance, the rewards have the potential to generate profits.
When opposed to Ethereum-based projects, the game is built on the Solana blockchain, which provides it with the advantage of lower transaction costs. It has a market capitalization of more than $62.29 million dollars, and the currency is presently trading at $0.02884.
9. Floki Inu (FLOKI)
Yes, Floki Inu is yet another dog-meme-based cryptocurrency, but it’s a contender for the title of most feasible metaverse coin — particularly for those searching for discounted cryptocurrencies in general. The currency is named after Elon Musk’s dog, which happens to be a Shiba Inu, which is also the name of another cryptocurrency venture.
According to the project’s website, the goal is to merge memes with real-world application scenarios. According to the company, it will also create a game, as well as an NFT marketplace, as well as an educational and content platform. Although this is a project that is still in its early stages, it hasn’t deterred investors from purchasing FLOKI tokens.
As of March 26, Floki Inu has a market capitalization of $285.85 million and is trading at $0.00003513 per share.
10. Epik Prime (EPIK)
Epik Prime is a metaverse cryptography project that has evolved into a focus on non-volatile memories. The cryptocurrency EPIK is accessible on many exchanges, including PancakeSwap, Hotcoin Global, KuCoin, and Huobi Global.
According to CoinMarketCap, Epik licences NFT collectibles and experiences to organisations such as Warner Music and Universal, indicating that the cryptocurrency is set to rebound following a period of stagnation over the previous several months.
Despite the fact that it was just released a little more than a year ago, EPIK has a market capitalization of $18.8 million. Over 234 million coins, or 12 percent, of the total available quantity of 2 billion coins are now in circulation.