Want to invest in the metaverse craze but don’t know where to start? Here are the top metaverse tokens of 2021.
The buzz around the term “metaverse” has been growing exponentially ever since Facebook announced its name change to Meta Platforms, Inc., or Meta. However, there are many other companies that are making waves in this space. From a Shark Metaverse to Accenture’s metaverse-esque virtual office, the Nth Floor, the metaverse is redefining how we will engage with each other in the near future. With a surge in popularity of the term metaverse, metaverse tokens have been seeing a rise in trade volume as well.
Metaverse tokens refer to cryptocurrencies that can be used to make transactions within the metaverse. While some metaverse tokens can be solely spent within their specific metaverses, others are freely traded on crypto exchanges. Here are the top metaverse tokens by market capitalization to help you decide where to make your next investment.
Axie Infinity Shard (AXS) – US$6 trillion
Launched on the Ethereum blockchain, Axie Infinity Shard (AXS) is the metaverse token of the blockchain-based trading game, Axie Infinity. The game is built on the lines of popular games, like Pokémon and Tamagotchi, and allows players to collect, breed, raise, battle with and trade token-based characters called Axies.
The game has a turn-based battle style where teams of three Axies compete against each other. Axies can be subdivided into various categories, like bugs, plants and birds, and their powers vary depending on the category they fall under. To breed an Axie, players have to spend currency earned from playing the game or bought from an exchange. Each AXS token goes for US$96.37 and currently ranks at number 31 on Coinmarketcap.
MANA – US$5.8 trillion
MANA is the metaverse token for Decentraland, a virtual reality platform powered by the Ethereum blockchain. On the platform, users can buy virtual plots of land and entertain themselves with a wide variety of virtual experiences, like casinos, concerts and galleries.
Decentraland has been up and running since 2020 and is the longest-running 3D metaverse project in crypto. In November this year, Barbados signed an agreement with the platform to establish its virtual embassy in Decentraland in January 2022. The MANA token is valued at US$3.30 and currently ranks at number 30 on Coinmarketcap.
SAND – US$4.5 trillion
SAND is the utility token used in transactions and interactions throughout The Sandbox ecosystem. The Sandbox is a virtual blockchain-based game that, much like Decentraland, allows users to buy plots of land. This metaverse also provides players with quests and games with a chance to earn rewards. The biggest difference between the two platforms is that The Sandbox has not been fully opened to the public yet.
In a move similar to Nike creating their own mini-metaverse on Roblox, the platform has recently received media attention because Adidas Originals bought a plot in The Sandbox. The company plans to fill it with exclusive content and experiences. The SAND token is currently valued at US$5.80 and currently ranks at number 35 on Coinmarketcap.
THETA – US$ 4.2 trillion
THETA is a blockchain-based network built for video streaming. The platform allows users to share bandwidth and computing services on a peer-to-peer (P2P) basis. The platform has several big-league companies as its validators, including Google, Binance, Sony and Samsung.
The platform came into the limelight recently when Katy Perry announced the launch of her first collection of non-fungible tokens (NFTs) in partnership with Theta Network. The token has a value of US$4.82 at the moment and currently ranks at number 39 on Coinmarketcap.
Now that you know what your options are, it is important to carefully evaluate them. To make sure your investments bear positive returns, you should further research your preferred tokens and their respective metaverses further.
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