Metaverse Crypto Report: Top Tokens for Investment

Within a short period of time, metaverse has leapfrogged into the mainstream, gaining recognition across all media platforms. Effectively bridging the gap between real-world and virtual reality, the metaverse is showing promise across countless domains. Blockchain, NFTs, and cryptocurrencies built around the metaverse are projected to grow big-time in the upcoming years. This article will shed light on the top-performing metaverse tokens in 2022.    

Axie Infinity(AXS)

Axie Infinity has been making headlines since its inception in 2020. The AXS ranks among the top Metaverse crypto assets dedicated to play-to-earn gaming. The token is built upon the Ethereum blockchain architecture, the game is widely popular across multiple nations. 

The Axie Infinity(AXS) game offers users to earn rewards while playing the game. Players need to complete specific game objectives and reach a certain game level. The process of incentivization attracts users to interact with the entire Axie Infinity environment. 

Another distinct feature is the unique NFT tokenization option, which enables the AXS token to be represented and used as a non-fungible token as well. AXS prices soared significantly with the launch of the special Origins edition in the previous week, rising above $27, before falling to the current price of $20.89. 

Also Read: The Metaverse Story: A Trillion Dollar Crypto Economy

Decentraland(MANA)

A popular metaverse VR platform, Decentraland allows users to build, customize, experience, and monetize. Applications built in the Decentraland metaverse are in use to generate revenues. The Decentraland ecosystem is also renowned for its virtual real estate feature. Users can buy virtual land plots which they can later use to use customize, build and make monetary gains. 

NFT owners are adopting the Decentraland platform as a virtual marketplace to showcase their NFTs. The ongoing NFT craze contributes to the rising demand and a consequent increase in the native MANA tokens. In fact, the global auction houses Sotheby’sacquired Decentraland Real Estate for building office replicas and exploring further business opportunities. MANA jumped 6.28% to a current price of $1.02.  

Also Read: Blockchain-based Metaverse and Crypto Rewards Systems Revolutionizing Fitness

The Sandbox(SAND)

The Sandbox remains a solid crypto investment option applying decentralized blockchain technology worldwide to actualize the metaverse vision. The VR gaming project backs by mega gaming corporations like Atari. Banking institutions like HSBC have made investments in buying virtual real estate in the Sandbox ecosystem which focuses significantly on NFT creation and trading. Yes, the SAND tokens are in use to create non-fungible tokens. 

The Sandbox platform underpins the Ethereum platform but has a coin supply cap of 3 billion tokens. At its current market cap of $1.6 billion and a valuation of $1.35, the SAND is a good metaverse token for investment, starting recovery from the erstwhile market slump jumping over 3.20% within the past 24 hours.

ApeCoin(APE)

The ApeCoin is ERC-20 compliant, built upon the Ethereum ecosystem. The metaverse asset has dual functions including a governance token and a utility token. APE coin holders can take part in governance, which in turn offers them exclusive access to special products and services reserved only for the token holders. 

The coin actively promotes its uses across metaverse games. A notable example of this is the upcoming Otherside metaverse title built by Yuga Labs. Yuga Labs were the guys behind the hot-selling Bored Apes Yacht Club NFTs. The APE environment also features real estate, evident from the $320 million capital raised through virtual land sales. The sale generated enough traffic to cause a surge in gas fees across the Ethereum network. There were 30% of the total APE tokens in circulation during its launch on 17th March. The total coin cap is 1 billion and with a market cap of over $1.84 billion, is the biggest metaverse token in circulation. APE tokens currently trade at $6.29 at a 3.76% jump over a 24-hour period. 

In Conclusion

The hype across the metaverse is real. They will transform the upcoming future, and hence it is understandable to see the potential in metaverse tokens as alternative crypto investment options.