The term “metaverse” has appeared in the news, on social media, and even at the dinner table. Although the technology is still in its early stages, it is quickly gaining the attention of cryptocurrency and technology investors.
As a result, in 2022, metaverse coins represent an untapped opportunity.
What is Metaverse?
A metaverse is a network of 3D worlds intended to foster social interaction. It can be envisioned as a universal digital reality within a fictitious version of the Internet. This virtual reality is aided by the use of virtual and augmented reality headgear.
It also refers to a modern economy in which users can produce, buy, and sell goods. It allows you to transport virtual objects such as clothes or cars from one platform to another in an idealistic view of the metaverse. The combination of metaverse and crypto generates immersive worlds in the metaverse where the lines between real and virtual become blurred.
What Are Metaverse Coins and why is it important?
In the metaverse, cryptocurrencies will be used as money. The blockchain concept is at the heart of this. The terms “metaverse coins,” “metaverse tokens,” and “metaverse crypto” are used in this context. Each metaverse project has its own set of tokens that can be used in transactions in that environment.
Some of the Top metaverse coins you can buy in 2022:
1) Axie Infinity:
What is Axie Infinity?
Axie Infinity is one of the most popular and revenue-generating blockchain games. It is a pretty NFT pet game that has fattened the wallets of crypto geeks and laymen alike who would have otherwise avoided the crypto market.
How does Axie Infinity work?
By playing their game, users can earn AXS, the Axie token. It has been a huge success, with people allegedly quitting their jobs to pursue the ‘play-to-earn’ lifestyle. The AXS token can be exchanged for ETH and used to purchase NFTs on the Axie Marketplace.
2) The Sandbox:
What is The Sandbox?
The Sandbox is a virtual world in which players can create, own, and monetize their gaming experiences using the SAND token on the Ethereum blockchain. Players can create digital assets in the form of Non-Fungible Tokens (NFTs), upload them to the marketplace, and then use Game Maker to integrate them into games.
How does The Sandbox work?
The Sandbox application uses the Ethereum blockchain to track ownership of digital LAND and NFT ASSETS. Users can interact with the ecosystem further by storing their SAND tokens in Ethereum wallets.
Developers can also innovate within the Sandbox platform by designing the animation and interactions seen on their virtual real estate with a variety of tools.
Users can submit their creations to The Sandbox marketplace, where they will first be registered as ERC1155 tokens on the Ethereum blockchain. These ASSETS can then be purchased and sold with SAND.
3) Decentraland:
What is Decentraland?
Decentraland, a leading metaverse coin, provides a 3D world that users can access free via a browser. Its thriving ecosystem is home to a plethora of businesses. In this metaverse reality, users create everything, from scenes and establishments to entire villages and space adventures.
How does Decentraland work?
MANA, the ecosystem’s native token, has a supply of 2.2 billion. There are currently 1.8 billion tokens in circulation. This platform is used by gamers, creators, and businesses looking to capitalize on metaverse opportunities and get entertainment. A large target audience means high demand for the coin. This is what makes Decentraland an appealing investment.
4) GALA:
What is GALA?
GALA, an Ethereum-based cryptocurrency, powers Gala Games. It is a platform that aims to revolutionize the gaming industry by restoring control to players. Currently, players spend countless hours playing the game and investing in in-game purchases that can be revoked at any time.
It is used to purchase items, upgrades, and other in-game assets, as well as serve as the governance token.
How does GALA work?
GALA, the platform’s native utility token, is used for network governance, node operator incentives, and in-game rewards for platform players. Furthermore, it can be used as in-game currency to purchase NFTs and assets from the Gala store. Gala, as a blockchain-focused gaming platform, allows users to play the game using their own NFT characters.
5) Enjin:
What is Enjin?
Enjin Coin, one of the oldest cryptocurrencies, is a rapidly expanding marketplace for NFTs. Its goal is to use blockchain technology to build advanced virtual economies. It is an ERC-20 token built on the Ethereum blockchain platform.
Its local currency, ENJ, is linked to the value of NFTs on the platform. As a result, users can melt their NFTs back to ENJ. As a result of the scarcity principle, the value of the NFT rises.
How does Enjin work?
Enjin Coin (ENJ) can be used to create in-game items or assets such as medicine that increases HP points and weapons through a process known as “minting.” Furthermore, ENJ can improve the abilities of the characters in the game.
It can also generate the names, shapes, and appearances of each character, as well as the number of game items. All of these items are worth the same as ENJ.
6) Metahero (HERO):
What is Metahero (HERO)?
Metahero is a new metaverse project that uses 3D scanning to create HD avatars of real-world objects and people. In Doha, the company has even installed a scanning chamber that scans objects and creates a digital, 3D version for the Metahero universe.
Metahero has collaborated with Wolf Studio on this project. As of June 2022, the cryptocurrency HERO, its native token, has a market cap of $43.36 million. Although it is smaller than other tokens on this list, this is due to the project’s infancy.
How does Meta Hero NFTs work?
Their seamless technology enables users to convert their physical assets into NFTs. If you thought 4k HD scanners were the only thing available, you’d be surprised to learn that there are plans to upgrade to 16k ultra-HD scanners. HERO can be used to pay for scans and royalties.
With the one-of-a-kind Meta scanners, you can create in-game characters, print, and scan in the metaverse.
7) Wax (WAXP):
What is Wax (WAXP)?
Worldwide Asset exchange claims to be the most environmentally friendly blockchain for NFTs. Its primary focus is on video games and collectibles for the entertainment industry. Users who are unfamiliar with blockchain can still use it effectively thanks to the platform’s user-friendly interface.
WAX token holders can use the token to validate crypto transactions, pay smart contract fees, and buy and sell virtual assets on the platform.
How does Wax (WAXP) work?
WAX blockchain employs the delegated proof of stake (DPoS) consensus mechanism, with WAXP serving as an ETH bridge between WAXE, the utility token, and WAXG, the governance token. It is highly secure against any form of corruption. Furthermore, token holders can directly generate blocks and vote on system approval.
Conclusion
As with any other investment, do not bet all of your money on a single type of metaverse coin, and do not invest money that you cannot afford to lose. It is best to diversify and, more importantly, to purchase coins that you believe have potential.
At Carret, you can invest in a variety of metaverse coins. Carret is India’s safest crypto investment platform with Fireblocks as our custodian. You can also earn up to 17% annual Interest on your top crypto holdings wiith 24Carret India’s first crypto savings account without any lockin period.
So what are you waiting for?
Download now and start your crypto investment journey with Carret.
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