Top 5 Metaverse Tokens That Stayed True To The Investors
At first glance, the options for Metaverse tokens often look pretty simple. But there’s usually a lot more going on under the surface than you might think. You might think that the tokens are the same as currencies in the metaverse. But tokens have their own unique parts that give them their own value.
Understanding Metaverse Tokens
A metaverse token is a key part of the metaverse as a whole. So much so that to understand one, you have to understand the other. If you think of virtual reality when you hear the word “metaverse,” you already know part of the answer. Putting on a VR headset is the best way to go into the metaverse. But depending on how you get to the metaverse, you’ll have a different experience there. For example, you can bring a part of the digital world into the real world by using augmented reality (AR) or mixed reality (MR).
You can experience the metaverse in different ways with PCs, consoles, smartphones, and smart glasses. But the real meaning of the metaverse is a digital world that is always on and where you can talk to people and make changes that last.
What is a token for the Metaverse?
A metaverse token can be considered a virtual currency unit that gives extra benefits even though you might not be able to buy or use them everywhere. For example, you might need to buy tokens at a certain store or exchange them in the digital universe. And you can only use them in that part of the metaverse. Tokens are different in a lot of ways, but they are all connected to blockchains. As a result, they offer reliable performance that isn’t tainted by the kind of financial corruption that happens in real-world economic markets.
5 Metaverse Tokens that pull the investors
Now that you have a better idea of what metaverse tokens are, you are ready to look at some of the most important ones. Out there, a huge sea of metaverse tokens pull the investors. But the tokens shown below are the ones that most people would agree are the best. These tokens stand out because of how popular they are, how unique they are, or how well they work.
Sandbox (SAND) (SAND)
The Sandbox metaverse revolves around SAND tokens. The Sandbox is a metaverse that puts a lot of focus on content made by users. It brings the idea of a “sandbox game” into the metaverse so that users can make their own games and play them in a huge virtual world. This includes giving users the tools they need to make their own digital assets. Users can also sell, buy, and trade with other users who are doing the same things.
SAND tokens are ERC-20 metaverse tokens that can be used as the currency in Sandbox. But holding SAND or using it as a utility also has other benefits. The infrastructure for a real decentralised autonomous organisation (DAO) in Sandbox’s metaverse is also built on its token system. SAND is what lets the Sandbox work as a metaverse, “play-to-earn” game, DAO, and NFT showcase simultaneously. It’s a SAND-connected metaverse that’s run by the people who use it.
Decentraland is a high-tech 3D platform that works perfectly with metaverse gadgets like VR headsets. You can go on adventures in virtual worlds and really make them your own. One of the best things about the Decentrland metaverse is that you can use this land in creative ways. And Decentraland’s MANA metaverse token is what keeps the virtual real estate market going strong.
With MANA, which is an ERC-20 metaverse token, you can buy property in Decentraland. With these tokens, you can do a lot of different things in the metaverse. But the most important thing they can be used for is to buy blocks of virtual land called LAND. Once you’ve used MANA to buy LAND, you can use it in any way you want. You can also check out the LAND that other users have made on Dectraland while you work on making your own. Tokens backed by the Ethereum blockchain can be used on the market for avatars, real estate, accessories you can wear, and even unique names.
Axie Infinity (AXS)
One of the best examples of a system that links metaverse tokens to programme logic is Axie Infinity. It’s like a combination of the metaverse, Tamagotchi, and Pokémon. In the game, players collect, train, and use Axies against each other. Every Axie creature that can be collected is also a token for the metaverse. You can choose from over 500 body parts to ensure your Axies are all different. This gives you a chance to make Axies that look like fish, birds, reptiles, or even plants.
— Axie Infinity | #AxieOrigins, #AxieHomeland (@AxieInfinity) March 9, 2023
The Axies are shown as NFTs that work with the metaverse standard of the format. A sidechain metaverse token called Axie Infinity Shards on the Ethereum blockchain is used to run the system itself (AXS). If you own Axies, you can play the game. But AXS is what lets you vote on things like the allocation of Axie Community Treasure.
Enjin is without a doubt one of the most impressive gaming brands on the metaverse. The company has made a whole digital ecosystem with blockchain-based systems that can connect any two entities. This also helps spread the social spirit of creativity that the metaverse is known for. Users of the Enjin platform can create gaming clans, websites, and chat rooms. They can also set up in-game stores to sell items and accessories made by other users. And Enjin makes it easy to tokenize game assets to make them unique and connected to the larger Ethereum blockchain.
The company’s Enjin Coin (ENJ) metaverse token makes it possible for a lot of these features to work. ENJ is an ERC-20 token that is connected to the blockchain of Ethereum. This is also true for works made through the Enjin system. For example, when a digital item is created through the Enjin Platform system, the final product always contains ENJ and can be used in the real world.
Bored Ape Yacht Club by Yuga Labs changed the way people thought about the metaverse, blockchain, and digital art. It also gave rise to ApeCoin, an ERC-20 metaverse token (APE). ApeCoin could also change the way people think about the world. And the people who made it hope that the token will help and support decentralised groups that work together to be at the forefront of technologies that focus on the web3.
The fact that these metaverse tokens are part of a larger Decentralized Autonomous Organization shows that the end goal is for people to work together (DAO). People who own the token, also known as ApeCoin holders, can vote in the DAO. This includes setting rules for things like who can use the system’s intellectual property and how money is spent. ApeCoin also gives its holders access to parts of the larger ecosystem. There are games, services, and the ability to connect to personal projects.