Top 3 metaverse coins to look out for in 2021
Metaverse, a term used to refer to a virtual universe, has gained momentum after Facebook rebranded itself as Meta. The term broadly encompasses aspects of social media, online gaming, augmented reality (AR), virtual reality (VR) as well as digital currencies such as Bitcoin. With social media, people can interact in ways that were not possible before.
A lot of online shopping and even investing is now powered by the internet. But what about the payment methods? Currently, virtual goods can be purchased using Metaverse coins or tokens derived from a particular marketplace.
Metaverse coins are a cryptocurrency that can make digital transactions in the Metaverse. Some cryptocurrency tokens exist outside the metaverse and can be spent either in a particular virtual world or on an exchange.
Cool, Cool, Really? Below are some best metaverse coins in the market.
Decentraland is a virtual world you can visit in your browser and it uses the cryptocurrency, MANA, for land ownership and transactions. Landowners in this dystopia must be diligent with the maintenance and development of their property lest they succumb to ruin. MANA’s current price is $4.72, it’s gained 29.7% over the last week. MANA has a market cap of roughly $9 billion.
Decentraland has also added native support for the Matic network, allowing for cheaper transactions. They also held one of the first multi-day music festivals featuring artists like Deadmau5 and Paris Hilton last month.
Sandbox is a virtual gaming environment where you can earn tokens by playing. It’s based on the play-to-earn business model, where you earn SAND tokens for completing quests or other tasks in the Sandbox world. You can then use these to buy premium items or services from the Sandbox store.
SAND is trading at around $7. This virtual currency has gained 87% in the last week alone. Its current market cap is over $6 billion, per coinmarketcap
AXS (Axie Infinity)
Axie Infinity is a collectible card game with a twist. In this alternate universe, you can breed, trade, and battle monsters to earn their token. They are non-fungible tokens which means they are individual and different from one another. If you’re interested in collecting, I’d recommend giving this game a try!
The popularity of the game has risen by about 5,000% over the last six months, with daily users almost doubling since December.