Metaverse finance offers new opportunities to investors by allowing users to purchase cryptocurrency tokens or metaverse coins that could potentially appreciate in value and earn them a stake in the platform’s operations.
Here are the top seven metaverse tokens that investors should watch this year.
Decentraland is a Metaverse platform where users can develop and monetize content and apps in 3D virtual environments. It is built on the Ethereum blockchain and aims to develop a network owned by its members while also providing immersive gaming experiences.
MANA is the official token and cryptocurrency for Decentraland, according to the platform’s website. MANA is an ERC-20 token that allows users to acquire or exchange LAND in the virtual world, as well as pay for products and services in that environment.
It is also used to acquire estates, avatars, wearables, and one-of-a-kind names on the Decentraland Marketplace, the platform’s marketplace. There are a total of 2.19 billion MANA tokens available for purchase.
Axie Infinity (AXS)
Axie Infinity is a game about breeding, growing, and combating adorable creatures known as Axies. In 2018, Sky Mavis developed the platform, which has reached about one million daily users as of August 2021, and by the summer last year, it became the largest cryptocurrency on the Ethereum network.
Axies and virtual real estate are sold using NFTs on its in-game marketplace, with the majority of transactions taking place on a lightning-fast, custom sidechain called Ronin, which has cheaper transaction costs than Ethereum.
Axie Infinity bills itself as a play-to-earn game, where players can sell items through the game’s NFT marketplace as well as receive tokens from the game. Users can also purchase and sell AXS on exchanges such as Coinbase.
The Sandbox (SAND)
The Sandbox is a platform that integrates blockchain, decentralized finance (DeFi), and NFT technologies into a 3D metaverse. With the use of free creative tools, its virtual environment enables players to develop and personalize their own games and digital assets for commercialization as NFTs and sold on The Sandbox Marketplace for SAND tokens.
Additionally, holders may earn the token to gain prizes, which include a part of the money generated by all SAND transactions. Most crucially, it increases the likelihood of discovering precious GEMs and CATALYSTs required to create rare ASSETS on the platform.
It also serves as the foundation for all game transactions and interactions. SAND may be acquired through participating in Sandbox games and competitions or bought on cryptocurrency exchanges such as Binance.
Enjin Coin (ENJ)
Enjin (ENJ) is a platform for creating online gaming communities based on the Ethereum platform. Its mission is to simplify gaming by delivering cryptocurrency-backed tools, which include game plugins, software development kits (SDKs), wallets, virtual item management applications, and a payment gateway platform.
When a new NFT is coined on the system, a smart contract mints a predetermined number of ENJ into the token, which provide real-world worth to the freshly constructed commodities.
Enjin coins are not stackable as they are based on a proof-of-work agreement method, employing the cryptocurrency is decentralized and generated via mining.
Cardano is among the most valuable cryptocurrencies based on market capitalization. It was envisioned as a next-generation extension of the Ethereum concept, with both an adaptable, sustainable, and scalable blockchain system.
Its mission is to build the most environmentally-friendly blockchain platform possible. It employs a novel proof-of-stake consensus process called Ouroboros, as opposed to Bitcoin’s existing energy-intensive approach.
ADA is the native cryptocurrency of the Cardano blockchain, similarly to ETH, which is the original cryptocurrency of the Ethereum blockchain. ADA may be used to store assets, make and receive payments, stake the Cardano network, and pay transaction fees. Users can purchase ADA on Coinbase, in the Coinbase Wallet, or via a variety of other cryptocurrency exchanges and wallets.
Several metaverse projects have one thing in common: they are based on Ethereum’s blockchain technology, which is a software platform that enables the global transfer and receipt of value through its native cryptocurrency, Ether, without third-party intervention.
As with Bitcoin, Ethereum is an open-source project that is not owned or administered by a single person. Ethereum, on the other hand, is distinguished from Bitcoin for its capacity to create and execute smart contracts.
Ether is the platform’s native cryptocurrency, and currently, anyone with a computer equipped with a strong graphics processor can mine it. Over the long run, ETH has outperformed a variety of conventional assets, including major stock and bond indexes.
Gala Games leverages GALA, a cryptocurrency token built on the Ethereum blockchain. It is a platform that aspires to change the gaming industry by restoring control of gaming experiences to users. The current situation is that gamers spend endless hours and make significant investments for insecure in-game purchases.
The platform reimagines this approach via the use of the play-to-earn concept pioneered by Axie Infinity and other developers. GALA is a cryptocurrency used to purchase products, upgrades, and other in-game assets, as well as serve as the game’s governance token.
Metaverse environments, as well as the crypto powering them, are rapidly evolving. As more users enter the 3D immersive worlds provided by these platforms, its crypto coins will also increase in value, both as a utility and an investment asset. These seven coins are the top options to watch in Q1 Of 2022.