The phrase “metaverse” keeps popping up in conversations around the table and in the news. While this technology has a long way to go before it becomes commonplace, it is gaining traction among IT and cryptocurrency enthusiasts. In light of this, 2022 might be a breakthrough year for metaverse currencies.
The fact that Meta, once known as Facebook, has changed its identity and is now banking on the metaverse also helps. As the company’s future technology, the metaverse was estimated worth $10 billion to the firm in 2021. On that path, cryptocurrencies and the blockchain will be indispensable tools.
Keep in mind that the cryptocurrency market is volatile, with today’s winners being tomorrow’s losers. You should never put more money into an investment than you can afford to lose.
So, how do virtual currencies relate to the metaverse? Exactly what is the metaverse? Plus, which tokens of the metaverse are the most worthwhile investments? Learn about the best currencies to buy and how the metaverse works right here.
So What Are The Best Metaverse Coins?
The good news is that coin prices are relatively cheap; in many cases they are far under $1, and in some situations they are less than 1 cent. This is because metaverse enterprises are still in their infancy. Now, virtually everyone may take advantage of this financial opportunity. Still, this is not to say that you should invest in every initiative that comes your way.
CNBC noted that specialists in the business believe the present bear market will shake out the “bad actors,” or developers who have been more concerned with amassing wealth than completing their projects.
The coins that have either shown themselves useful or have strong financial support are most promising metaverse tokens . These 2022 currencies from the metaverse all look to be good investments.
A crypto metaverse initiative called The Sandbox has been crushing it. The value of SAND, the platform’s native token, rose significantly throughout 2021, surpassing $1 in the fourth quarter and eventually peaking at $8.40 in November.
The price has since dropped, like it has for many if not all coins, to its existing level around $0.88, up over 50% from its one-year low as of September 15.
With the help of VR technology, this effort is making the metaverse a reality. Given that the Sandbox is fundamentally a game and receives the backing of gaming firms like Atari, it may be able to weather the current bad market. In addition, Tony Hawk has reportedly stated that he will build a skatepark at the “Hellboy” themed metaverse resort that Lionsgate and The Sandbox are developing.
The development and trading of NFTs are essential features of the Sandbox. Using the tokens provided by the SAND metaverse, players may make NFTs.
This project, like many of others in the cryptocurrency space, is built on the Ethereum blockchain. According to Fortune, they just released Alpha Season 3, which they anticipate will bring in 500,000 users.
It also has a finite currency supply of 3 billion coins, among which 1.5 billion are currently in use, which is a positive sign. As of the 15th of September, its market cap was above $1.3 billion.
Check out Highstreet if you’re in need of a metaverse venture that works with VR. The possibility to spend REAL MONEY in this virtual environment is one great aspect. Presently, it is possible to use the system to access a limited number of Shopify stores.
It appears up-to-date with regards to the most recent innovations in the IT and cryptocurrency industries, what with its inclusion of gaming and its intended usage of NFTs. Additionally, Coinbase supports purchases of HIGH.
From the perspective of the metaverse, this project has already been successful. If you are a practical investor, this is a good option for you.
In August of 2021, a total of $5 million was donated to the cause, which was spearheaded by the technology company HTC. In September 2022, the market placed a value of $17.8 million on the company.
A new metaverse project called “Metahero” uses 3D scanning to create high-resolution avatars of real-world items and people. To further prepare for the future of the Metahero world, the business has set up a scanning chamber in Doha.
For this reason, Metahero has teamed up with Wolf Studio. With a market valuation of $16.26 million as of September 2022, its native token, HERO, is a cryptocurrency with significant potential. Though that’s smaller than some of the other symbols on this list, keep in mind that this endeavor is still in its infancy.
Year-to-date, Metahero has been a disaster, with its value plummeting to almost nothing. Rob Gryn’s recent partnerships with his other meta project, Everdome, may help strengthen Metahero as well, so HERO isn’t out of the game just yet. But it’s probably one of the more speculative metaverse currencies right now.
The game Star Atlas serves as the basis for a visually spectacular metaverse project. The year 2620 is shown as the future in the game, where players can explore, conquer, and loot a futuristic world.
Star Atlas’ hardware vendor, iBuyPower, has just joined with the metaverse in an agreement that is anticipated to increase the game’s player base.
There is a metaverse token in the game called ATLAS, and it may be obtained by taking part in the game. It’s much like any other reward-based game in which you get currency as you progress through the game. Rewards may not always be profitable, but they may be in this situation.
The game’s Solana foundation means it benefits from lower transaction fees than Ethereum-based ventures. It has a market value of $11.13 million and a price of $0.005163 per coin.
What Are Metaverse Coins?
The term “metaverse” refers to the underlying technology that enables a digital marketplace, game space, and trading platform. Imagine a system that incorporates elements of AR, VR, SM, gamification, and cryptocurrency.
Coins based on blockchain technology will be used as currency in the metaverse. The blockchain technology serves as the inspiration for this. It is from this concept that the phrases “metaverse coins,” “metaverse tokens,” and “metaverse crypto” originate. Tokens are utilized in every metaverse project for making purchases and other interactions.
With That Being Said
There seems to be no shortage of metaverse initiatives, but only a select few have the potential to succeed. The idea of the metaverse has its origins in blockchain technology and digital currencies, making investments in related ventures a potentially lucrative move. The interest in NFT also appears to be growing.
Never invest more than you can afford to lose, and don’t put all your eggs in one metaverse currency basket. It’s smart to spread your investments out and, more crucially, to put money into currencies you believe have promising futures.