When Facebook was rebranded as Meta, the concept of the Metaverse also started taking the world by storm. Metaverse is a virtual world created with the blend of various technologies like virtual reality, augmented reality, Blockchain, AI, and more. At present, people can only access the internet via devices such as laptops, smartphones, etc., but with the metaverse, users will be able to communicate, meet, play games, and socialize in three-dimensional environments. After gaining the attention of tech giants and luxury brands the next big thing in the space is Metaverse crypto projects. The metaverse will undoubtedly determine the future, and metaverse cryptocurrencies will definitely play a significant role in this. Especially after knowing that many crypto investors are already interested in this space.
As you know, metaverse projects are relatively new, therefore, metaverse cryptos are presently a great investment. Prices are also quite affordable. In recent years, the prices of several native tokens utilized in the metaverse have also surged, garnering investor interest. Decentraland, The Sandbox, Axie Infinity, Crypto Baristas, and others are among the top metaverse cryptocurrencies right now, all of which have made early investors fairly wealthy so far. But now, slowly and surely these Metaverse cryptocurrencies are stepping over many Altcoins.
Launched as recently as 2020, Axie Infinity is one of the best Metaverse crypto coins for play-to-earn gaming. Axie Infinity is built on top of the Ethereum blockchain. For those unaware of this concept, play-to-earn games allow users to generate rewards when certain tasks are completed – such as reaching a specific level. And, this incentivizes users to engage with the broader Axie Infinity ecosystem. Once minted, this can be represented in the form of a unique NFT, which in turn, can be sold on the open marketplace.
The Sandbox stands as a solid investment in March 2022 because it applied blockchain technology to a massive global market such as the gaming industry and is entirely focused on decentralization. With a VR aspect, this project is realizing the vision of the metaverse. The Sandbox is essentially a game, and it has the backing of gaming brands like Atari. And HSBC recently purchased virtual real estate in its metaverse. But it's heavily based on the creation and trade of NFTs. Players can create NFTs using the SAND metaverse tokens.
Decentraland defines itself as a virtual reality platform powered by the Ethereum blockchain that allows users to create, experience, and monetize contempt and applications. In this virtual world, users purchase plots of land that they can later navigate, build upon, and monetize. It is one of the metaverse cryptocurrencies that are stepping over Altcoins in 2022.
According to reports, Gala Games plans to invest US$2 billion into gaming, US$1 billion into movies, US$1 billion into music, and the remaining US$1 billion into an NFT-specific theme park. Gala Games (GALA) only has one game released on its platform so far, as a result of this, the upside potential of this project is huge. If they are successful in implementing the strategy they have laid out, then the network could and should be one of the household names in the future of the Metaverse.
Sensorium Galaxy is a digital metaverse that's been developed in collaboration with some of the world's top artists, producers, and media companies. Currently, in beta, this metaverse consists of several worlds, each acting as a hub dedicated to a specific set of experiences. A crucial feature of Sensorium Galaxy is its in-platform currency – SENSO – which leveraged blockchain technology to power a fair, transparent, and user-owned decentralized economy.
However, keep in mind that investing in cryptocurrencies and tokens based on a blockchain network is extremely risky. Cryptocurrencies and tokens used in the metaverse aren't businesses that make money. Instead, they're a form of digital currency that may be used to make purchases or interact with other people in the metaverse. As a result, their worth is largely subjective and vulnerable to price fluctuations.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.