The Metaverse has now become the talk on the streets today as the next big thing to shape our digital lives. Tech giants are working to get ahead of this space and become a monopoly.
The metaverse revolution is getting increasing hype and the huge virtual online presence is fodder for both tech and gaming companies. Huge companies like Microsoft, Meta Inc (formerly Facebook Inc), Google, etc., have already made the steps harness the potential of the Metaverse.
What Is Metaverse?
But what is the Metaverse exactly? Everyone seems to have their interpretation. The metaverse mainly refers to the digital world enhanced through virtual reality (VR) or augmented reality (AR) technology. ‘Meta’ means ‘beyond’, while ‘verse’ simply means ‘universe’.
Thus, the Metaverse simply is the joining together of the physical world with the virtual world. The best way to comprehend what the Metaverse is to understand what it is not. The metaverse is not new technology, new software, or a new app. Rather, it is the application of existing technologies in the building of digital spaces.
Although the technology is far from mainstream, it is quickly gaining the attention of many techs and crypto investors. Therefore, there is an untapped opportunity for many people in metaverse coins in 2022.
Top 5 Best Metaverses to Explore in 2022
The majority of the Metaverse-based tokens are relatively positive hedges currently, in light of the BTC onslaught. Most metaverse projects are fairly new, which means that their token prices are quite low. In many cases, they trend under $1, with even less than 1 cent for others. Such comes as an opportunity for investment for nearly everyone.
Nonetheless, every project is not worth your money. It is ideal to check on the Metaverse coins that have shown their potential through the way they have performed. Investors can purchase cryptocurrency tokens or metaverse coins that end up appreciating. Ultimately, they earn the investors a stake in the operations of the platform.
ApeCoin (APE)
APE exists in the Ethereum blockchain. The metaverse is a creation of the ApeCoin DAO which oversees and manages the operations of the coin. It is an ERC-20 governance and utility token within the APE ecosystem. The ideality of the token is that it gives users the room to participate in the governance of the Ape ecosystem. In addition, it also allows users to have access to games and other products.
Its launch was on March 17, and 30% of its maximum supply of 1 billion tokens is currently in circulation. Several NFTs, like Opensea, have taken on the initiative of accepting ApeCoin payments on the platform. It is a native coin of the Bored Ape Yacht Club (BAYC). The ApeCoin price today is at $3.48, a price below its all-time high of $27.5
Decentraland (MANA)
The Metaverse platform allows users to develop and monetize content and apps in 3D virtual environments. It is the creation of two Argentinians, Ari Meilich and Esteban Ordano, and has been under development since 2015. It is also built on the Ethereum blockchain and I set to be owned by its members and provide immersive gaming experiences. MANA is the token and cryptocurrency for Decentraland.
It allows users to pay for products and services. People can also use them to acquire estates and avatars. Decentraland has had partnerships over time, but the visible ones have been with Tennis Australia to host the Australian opens. The operation of Decentraland is also governed by LAND, an NFT that defines ownership of land parcels. It also offers many play-to-earn games. The price of the token is at $0.838, with a 24-hour trading volume of $287 million.
If you are interested in buying Metaverse land on Decentraland, you can read our guide on how to do so: How to buy land on Decentraland
Sandbox (SAND)
The project has shown impressive performance since it was launched. It was created by Sebastian Borget, a co-founder. Sandbox uses the platform’s utility token, SAND. As an Ethereum-based metaverse and a gaming ecosystem, people can create, share, and monetize in-world assets and gaming experiences.
It disrupts the activities of existing game makers, allowing creators to have true ownership of the creations as NFTs. It also allows for creators to be rewarded for their engagement in the ecosystem. The Sandbox has established many partnerships with many companies and top artists including Adidas, Gucci, Warner Music Group and Snoop Dogg. Itself is a play-to-earn game, where players create their worlds and earn cryptocurrency.
SAND has continuously been on the rise in 2021 crossing the $1 mark. In November 2021, it had risen to around $8.40. With the current market volatility, it is trading at 0.8711. It is essentially a game but realizes the vision of the metaverse.
Highstreet (HIGH)
Built by Travis Wu and under a core team from LumiereVR, HighStreet is an Ethereum–based metaverse and is powered by HIGH, the native token. The HighStreet metaverse also has another token called STREET. You can shop for different things inside the virtual universe using HIGH as the currency.
The platform has gaming features and also NFTs, and is up to date with tech and crypto trends. Highstreet is a play-to-earn MMORPG game, offering a shopping and gaming experience through the open-world metaverse platform. Its price is sitting at $1.25 with a 24-hour trading volume of $5.1 million.
Floki Inu
The token is a dog-meme-based crypto running on the Floki Inu metaverse. Floki Inu metavers was built around the Floki Inu token. The token is named after Elon Musk’s dog, which is a Shiba Inu breed. Its project’s lead developer is Jackie Xu, becoming one of a few crypto coins that provide the multi-chain protocol feature. Floki Inu is an ERC-20 token, which means it is Ethereum-based.
One of the notable partnerships of the project was with Spartak Moscow, coming as a brand partnership. It offers users an opportunity to participate in the playable version of Floki’s flagship play-to-earn metaverse-inspired game. The project is aimed at creating memes and combining them with real-world cases. It also aims at creating an NFT marketplace as well as a content and an education platform. The price of the token is $0.000006 with a 24-hour trading volume of $6.3 million
Final Thought
Different metaverse projects are already getting released almost on a daily basis with their tokens available for purchase. Some of the tokens are even listed on various major crypto exchanges, and different crypto investors are alert to the different projects as they show potential. Even with the many projects, some show real potential and stand out while others are rug pulls. Do Your Own Research (DYOR) before investing in any metaverse. Exploring, however, is free of charge.
If you enjoyed this article, you might also enjoy reading: How to invest into the Metaverse
