Metaverse is used to refer to a virtual world where you can connect, visit, share digital arts, and attend concerts. Ever since Facebook rebranded itself to Meta, the term obtained a huge push and people already started researching about the metaverse tokens.
The idea of metaverse is not new, but tech giants like Facebook adding such emphasis has changed the narrative surrounding metaverse games, mainly the ones built on the blockchain. Many crypto investors feel that gaming industry in crypto has a lot of potentials to grow, and we are at the beginning stage of this.
Top brands like Nike, Adidas are also looking towards the metaverse world. Microsoft is also working on the virtual space, as per a recent announcement. As a short side note, we chose some of the top metaverse projects for having the huge potential in the blockchain powered metaverse space.
Let's look at some of the top metaverse coins :
1). The Sandbox
SAND, which was recently backed by world's leading tech investor, SoftBank. SAND is a project in the Ethereum network in the gaming space. Its virtual space is user oriented and fits well with the principles of decentralization.
The user generated content ecosystem of Sand has its own NFT marketplace and game developing platform. Users who want to create and build a game in the metaverse need to own the SAND tokens . Players are able to buy LAND to create even better online experiences. SAND tokens main uses are platform access, staking, governance, and core foundation.
2). Decentraland
LAND was founded in 2017 and was one of the early projects to build a decentralized virtual reality platform on the Ethereum space. This unique metaverse play allows users to buy LAND and develop that plot into anything they wish.
Just like the Sandbox, the primary resource in Decentaland metaverse is the LAND tokens, which are in limited in quantity. Only landowners can have real estate in Decentraland space and deploy creations. This enables them to monetize their investment through micro-transactions.
Decentraland recently held a metaverse party, where players were invited to listen to music, enjoying performances of different artists during the event. The number of parcels available is limited to 90,601 and each LAND is only 16 sq meters.
3). Enjin
Enjin is a gaming platform built on the ethereum Blockchain Network, creating digital collectable items. Enjin crypto itself was made on the Ethereum network and came to through an ICO. What’s more, NFTs minted with Enjin can be melted back into ENJ tokens. This is incredibly useful in case the game servers shut down or the game stops being popular. It allows players to retain some of the value of their in-game assets if they for some reason are unable to sell them on the open market.
Additionally, it’s worth knowing that Enjin token enables a new NFT protocol, the ERC-1155. This allows game developers to create both non-fungible and fungible tokens within the same smart contract. Consequently, even in-game currency can become fungible tokens that are tradable for Enjin.
4). Axie Infinity
The gaming community is among the first to offer a virtual world experience, and Axie Infinity has made top gains because of this aspect. Axie is a crypto game based on NFT's, and it allows players to breed, buy and sell pets known as Axies.
It also offers a virtual space experience that allows players to buy plots and even establish a settlement in the said land. Such a play to earn experience creates an attractive selling point where players can redeem their in-game earnings and trade assets to generate real income.
The Axie token is the one that powers the Axie digital ecosystem. Like most metaverse coins, Axie has also reached an all time high this month because of the growing hype about the metaverse.
5). Star Atlas
Atlas is a platform that provides its users the freedom to explore the space, full of stars and planets. As users enter the Star-Atlas platform we will be provided with the spaceship that will take us to the outer universe. We can explore the galaxies and develop the space according to our need.
Conclusion :
One thing is clear, the metaverse is finally making its first steps towards the future. Grayscale, one of the crypto’s biggest investment companies, just published a report on the metaverse topic. The cryptocurrency investment company believes the metaverse to become a trillion dollar sector in the coming years.
