Metaverse is the new sensation in the cryptocurrency space. The technology underpinning a virtual environment where individuals may transact, interact, purchase, and sell items is referred to as the metaverse. Consider it an intersection between gaming, virtual reality, social networking, and cryptocurrency. Cryptocurrencies will be used as money within the metaverse. The ideology is built upon the blockchain. Coins exist in each and every metaverse development and are utilized for payments inside of that setting.
Without a doubt, there are a wide variety of metaverse coins that are worth exploring. But which are the top few metaverse coins (in terms of both popularity and potential) that we ought to really keep a lookout for in 2023? Well, check out the list below to find out!
Decentraland (MANA) is a virtual reality network based on the Ethereum blockchain which enables people to build, enjoy, and monetize information and apps. Players acquire pieces of land in this simulated environment, which they may then traverse, develop on, and sell. Decentraland was founded in 2017 as a result of a $24 million initial coin offering (ICO). The virtual environment was publicly released in February 2020 after a closed beta period of about a few months. Individuals have since built a spectrum of experiences on their land plots, including dynamic gaming, expansive 3D sceneries, and a number of other interactive events.
Circulating Supply: 1.9B MANA
Market Capitalization: $762.3M
All-Time High (ATH): $5.90
2. The Sandbox
The Sandbox (SAND) is a virtual environment where gamers can use the SAND token to create, control, and monetize their gameplay experience on the Ethereum blockchain. The Sandbox gives artists actual ownership of their works in the form of non-fungible tokens (NFTs) and compensates users for participating in ecosystem activities and engagements including transacting, staking, and trading in-game objects. Last year, Sandbox also sold over $144 million in gross merchandise value and has also formed partnerships with well-known brands such as Adidas.
Circulating Supply: 1.9B SAND
Market Capitalization: $865.5M
All-Time High: $8.44
3. Axie Infinity
Axie Infinity (AXS), which was released in 2020, is among the greatest Metaverse cryptocurrency for play-to-earn games. Axie Infinity is a trading game based on the Ethereum blockchain. It allows players to acquire, nurture, breed, combat, and grow their personal empires. It’s based on NFT and may be deemed a one-of-a-kind item that can be transacted on the open market. Their NFT is also ranked first when it comes to the world’s most googled NFT collection. Due to its increased popularity, it is certainly an excellent time to invest in AXS. They have also just implemented staking, which has certainly given users an additional reason to invest.
Circulating Supply: 119.6M AXS
Market Capitalization: $764.4M
All-Time High: $165.37
Enjin Coin (ENJ) is an Ethereum-based cryptocurrency that serves as a digital store of value for digital assets such as NFTs. It enables NFTs to relocate between games, applications, markets, and wallets. It was initially created in July 2017, and in June 2018, it was released on Ethereum’s main network. Game creators may use Enjin to tokenize in-game assets like swords, firearms, spacecraft, people, land plots, and universes. It backs digital assets created on its platform with Enjin Coin, an ERC-20 token, allowing them to be purchased, sold, and exchanged for real-life money. Furthermore, Enjin is also the first gaming cryptocurrency whitelisted for use in Japan.
Circulating Supply: 1.0B ENJ
Market Capitalization: $312.0M
All-Time High: $4.85
Gala (GALA), a cryptocurrency gaming service, was launched on July 21, 2019. In 2021, GALA experienced a breakout of over 34,200%. It uses NFT to build a digital gaming environment where users may sell and acquire game commodities at any moment on a worldwide level. Gala Games’ mission is to elevate the gaming business to a whole new level by giving users back control of the game. GALA, the platform’s native utility coin, is utilized for network governance, node operator incentives, as well as in-game rewards for platform game participants. It may also be utilized as in-game money to buy NFTs and items in the Gala shop.
Circulating Supply: 22.2B GALA
Market Capitalization: $573.8M
All-Time High: $0.84
Illuvium (ILV) is a blockchain-based interactive RPG fantasy video game. The fact that Illuvium is the first AAA game on the Ethereum blockchain is among the reasons for its substantial value and performance. NFTs are used to illustrate all illuvial creatures. Thanks to Ethereum Layer-2 scaling technologies, users will be able to exchange items in-game without paying gas fees. When a user challenges other players with an Illuvial, they can receive cryptocurrency prizes from the game. The game has been under development since 2020. In 2022, a beta version for a select group of people was launched.
Circulating Supply: 3.5M ILV
Market Capitalization: $141.1M
All-Time High: $2868.95
7. Theta Network
Theta Network (THETA) is the first decentralized video broadcasting platform around the globe. It aims to tackle the low performance and inefficiency of the conventional video broadcasting industry by combining cryptocurrency with video distribution network. Coin owners have the ability to safeguard the blockchain network, validate their transactions, and vote to modify the infrastructure of the network. Theta Network’s daily user base has continued to expand following its collaboration with partners such as ONE Championship.
Circulating Supply: $819.7M
Market Capitalization: $1.0B
All-Time High: $15.90
Metaverse cryptocurrencies are certainly the hype right now. Metaverse doesn’t only bridge the gap between virtual reality and the real world but also revolutionizes the way individuals transact. Myriads of investors see metaverse coins as good investments as these coins are predicted to grow tremendously in the coming years. Within the cryptocurrency and blockchain sectors, the metaverse is a rapidly expanding ground. There are many initiatives in the metaverse realm, but the cryptocurrencies mentioned above are definitely worth keeping an eye on in 2023.
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Disclaimer: Any opinion shared in this article is strictly the views and opinions of the author and should not be construed as financial advice. Flipster makes no judgment on the projects or the content uploaded.