Besides cryptocurrencies, blockchain technology has changed the way we think about digital ownership as a whole. Through this, we’ve seen the expansion of the metaverse, i.e., a network of digital technologies used to create entirely new digital worlds.
And as a result, we’ve seen an explosion of games set in the metaverse. Utilizing the power of blockchain technology and NFTs, these games have introduced their own set of currencies that can be used to purchase assets in-game or exchanged for fiat or cryptocurrencies. You can read more about metaverse coins here.
The fact that major exchanges like Gemini and Binance have begun accepting metaverse tokens indicates the things to come. And this is why we’ve put together a list of the 10 best metaverse crypto coins you can invest in today.
1. Decentraland – MANA
Market capitalization: $5,025,201,106
MANA is the in-game currency used in Decentraland – a game set in a fully-functional virtual world that allows users to build, create, and trade digital assets.
Created in 2017, Decentralands development team has promised continual updates, and the game has even seen endorsements from the likes of Snoop Dogg and Paris Hilton.
With a market cap of more than $6 billion, MANA is currently the most sought-after meta token at the moment.
2. Axie Infinity – AXS
Market capitalization: $5,022,815,995
Developed by Vietnamese gaming studio; Sky Mavis, Axie Infinity is an RPG-style, action-adventure game known for its cute characters and vibrant in-game economy.
Players participate in PVP or PVE battles to earn SLPs or Smooth Love Potions. These can then be sold on the in-game market to make AXS (Axie Infinity’s gaming currency).
Alternatively, players can also breed magical creatures known as Axies that can be sold as NFTs. Some rare Axies have been known to fetch 6 digit prices.
Besides being Axie Infinity’s in-game currency, it’s also one of the most sought-after meta tokens given its recent market capitalization that has exceeded $4 billion.
3. The Sandbox – SAND
Market capitalization: $4,348,947,761
The Sandbox is a sandbox-style, 3D world-building platform that first appeared on the scene in 2018. Players have the option to create games, art, and even figurines that can be sold using the game’s currency, SAND.
You can also choose to invest in real estate that comes in the form of NFTs known as LAND. These plots can be purchased on NFT marketplaces such as Opensea.io.
4. Theta Network – THETA
Market capitalization: $3,448,301,299
Unlike the tokens listed above, THETA is the currency used on the Theta Network – a P2P video sharing platform. To earn THETA, users of the Theta Network will have to share videos to receive a reward.
With a total of 1 billion coins in circulation, THETA tokens perform a similar function to BTC on the Bitcoin network. With the growth of the Theta Network, THETA tokens have seen a steady increase in valuations.
5. Enjin Coin – ENJ
Market capitalization: $1,975,217,777
Enjin Coin or ENJ is the token of choice for the Enjin Network – an interconnected gaming community first founded in 2009.
ENJ tokens are based on the ERC-20 protocol and form the basis of NFTs and other items traded on the Enjin Network. This is a process known as minting, and existing assets on the network can be “melted down” and converted back into ENJ.
In the Age of Rust, ENJ tokens can also create in-game items and assets such as health packs and weapons.
6. WAX – WAXP
Market capitalization: $726,394,315
WAX or Worldwide Asset eXchange is a blockchain platform specializing in helping users trade NFTs of all kinds. From musicians like Deadmau5 and Weezer to brands such as Hasbro, Mattel, and Capcom, there’s no doubt that WAX has an impressive client list.
And because of this, the platform’s currency, WAXP tokens, has steadily garnered more interest from collectors and investors alike.
7. SushiSwap – SUSHI
Market capitalization: $600,697,281
SushiSwap is a DeFi exchange built on the Ethereum platform, but that’s not all that it does. Users can swap, farm, lend, or borrow SUSHI – the platform’s in-house cryptocurrency.
Besides being exchanged for fiat or cryptocurrencies, SUSHI can be staked on the platform, allowing users to earn passive income.
8. Ontology – ONT
Market capitalization: $486,348,761
Ontology is an open-sourced blockchain that allows users to transfer large quantities of cash within a short time at a minimal cost. ONT or The Ontology tokens store and share value on the network – similar to XRP.
Thanks to the open-sourced nature of the Ontology Network, developers are constantly introducing new methods to make use of the network and its tokens, making ONT a viable long-term investment.
9. Illuvium – ILV
Market capitalization: $423,818,972
Open-world RPG Illuvium challenges players to hunt and capture magical creatures known as Illuvials as they traverse the landscape of a devastated world. All of which allows players to collect NFTs, which can then be traded on the in-game marketplace for ILV – the game’s in-game currency.
ILV tokens can be traded on various crypto exchanges or staked to earn passive income from the game’s marketplace.
10. PlayDapp – PLA
Market capitalization: $359,540,663
PlayDapp is a Korean Gaming platform and NFT exchange listed on Coinbase. Powered by the Ethereum blockchain, the platform provides players access to NFTs and gaming services.
The PLA token is used as PlayDapp’s medium of exchange and can be found on various decentralized exchanges.
And there you have it, a summary of the 10 best coins from the metaverse that you can find today. But again, always remember that these tokens are highly volatile and are 100% unregulated.