The metaverse is here, despite what you may be hearing from the skeptics. This technological advancement will enable us to co-habit in a new virtual realm by allowing us to own and interact with various digital assets such as land and even offices.
Many companies, including Facebook, Apple, and Microsoft, have already shown an interest in it. The newest and most fascinating thing going on right now is metaverse tokens/coins; the next generation of cryptocurrencies.
At the moment, most metaverse coins are pretty inexpensive and represent an incredible investment opportunity considering the projected growth of this space.
In this article, let’s look at the 6 metaverse coins with the highest market capitalizations in 2022.
6. Enjin Coin (ENJ)
Enjin Coin was founded in 2009 to create a community of interconnected, blockchain-based gaming products where users can produce websites, clans, chat, and host virtual item stores.
ENJ, Enjin’s native token is ERC20-based and allows users on the platform to employ non-fungible tokens. On the Ethereum blockchain, for example, players may tokenize game objects.
ENJ, a minting resource sealed within NFTs and withdrawn from circulation, is present in every asset on the platform.
The advantages of ENJ include token transparency and scarcity, instance liquidity, and utility in games and apps, among others.
Every token created using the Enjin Platform is directly backed by ENJ, providing in-game products with real-world liquidity.
Efinity, Enjin’s most recent project, is based on Polkadot and intends to be a center for all fungible and non-fungible tokens, addressing the issue of NFT pricing and exchange.
5. Stacks (STX)
Stacks is a layer-1 blockchain solution launched in 2013 to bring smart contracts and decentralized apps to Bitcoin.
The platform functions independent of Bitcoin, yet it relies on the blockchain for its essential operation. Stacks’ transactions, for example, are settled on the Bitcoin blockchain, and network nodes are rewarded in Bitcoin.
One of the Stacks’ key issues is Bitcoin ecosystem’s inherent constraints. Using the Proof of Transfer consensus process, micro-blocks, and a new programming language called Clarity, Stacks alleviates these problems.
The advantage of Stacks is that it allows dApp developers to create decentralized applications and smart contracts with all of Bitcoin’s capabilities.
Developers may use features like Bitcoin’s liquidity to improve the user experience. Its base layer Proof of Work (PoW) is the Bitcoin blockchain.
The platform has also recently introduced a proof-of-transfer (PoX) model, a novel mining mechanism in which users transfer the base currency (BTC) to mine STX, effectively bootstrapping the security of the Stacks blockchain with BTC.
You can Purchase STX on several exchanges, including Binance, Gate.io, and KuCoin.
4. Theta Network (THETA)
THETA is a platform that connects Bitcoin’s network with the newest crypto developments, including DeFi, smart contracts, and NFTs. It was launched in November 2019.
The platforms’ goal is to build a better user-owned internet by maximizing Bitcoin’s potential across all networks.
Theta has two native cryptocurrencies: THETA currency, which is used to vote on protocol improvements, and TFUEL, which is used to execute transactions and is supported by three groups:
- Enterprise Validator Nodes: Companies that stake THETA tokens for the privilege to complete transactions on the network
- Guardian Nodes: Users who check that the transaction blocks suggested by the Enterprise Validator Nodes are correct.
- Edge Node: Users who, in exchange for TFUEL, contribute their bandwidth or relay video feeds across the Theta network.
STX is the platform’s native utility asset, which powers the Stacks ecosystem and allows users to mine and stake their assets.
You can Purchase STX on Binance, Coinbase Exchange, Gate.io, OKcoin, Upbit, Blockchain.com, and more exchanges.
3. Axie Infinity (AXS)
Axie Infinity, which was launched in March 2018, is the top blockchain-based NFT game that allows users to breed, raise combat, and trade Axie animals.
Two tokens are available to players:
- Axie Infinity Shards (AXS): A governance token
- SLP (Small Love Potions): The in-game token for breeding Axies.
The best method to level up Axies and acquire Axie Infinity Shards (AXS) and Small Love Potion is to compete in arena battles and tournaments (SLP)
Players pit their Axies against other players in three-on-three fights, utilizing a variety of tactics and strategies to place their Axie on the board.
Axies are NFT creatures that players capture to improve their stats. Players will utilize AXS, Axie Infinity’s native token, to engage in different gaming activities on the platform.
You can purchase $AXS on Binance, Gemini, KuCoin, and other exchanges.
2. The Sandbox (SAND)
As of late 2021, the Sandbox has honestly shaken up the crypto economy. It was first introduced in 2012, in the early days of blockchain. Sandbox is an Ethereum-based 3D decentralized play-to-earn game.
To put it another way, Sandbox software uses the Ethereum blockchain to monitor ownership of digital LAND and NFT ASSETS on its platform.
Players are also immersed in a metaverse in which they may develop, play, and monetize 3D NFT-based games for real money.
In some exciting news, Sandbox has already had success in the cryptocurrency field such that its game Aplha season 2 is already out. For further information, see the thread below.
The platform has two native tokens that regulate its metaverse’s operations:
- SAND tokens: Used to conduct various gaming activities, such as acquiring LAND and staking it to participate in the DAO’s governance.
- ASSET tokens: In-game things such as avatar equipment and creations used to fill LAND are represented by non-fungible ASSET tokens.
Users may submit their works to The Sandbox marketplace, where they are initially recorded on the Ethereum blockchain as ASSETS.
You can buy $SAND Tokens on Gemini, Crypto.com, and Binance.
1. Decentraland (MANA)
Decentraland metaverse was launched in 2017 as a virtual reality platform built on the Ethereum blockchain, enabling users to create, enjoy, and monetize content and apps.
Individuals can purchase and sell digital real estate within this virtual environment while also exploring, conversing, and playing games.
In Decentraland, operations are governed by two tokens.
- LAND Tokens: used to describe who owns land chunks representing the digital real estate.
- MANA Tokens: May be used to buying LAND and other virtual products and services in Decentraland
Gameworld is organized into 90,601 distinct LAND pieces, each measuring precisely 16m x 16m and located at a specific platform point.MANA is available for buy on Binance, OKEx, and Coinbase Pro.
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