There are 3 Metaverse Cryptos everyone should own
The Metaverse is no doubt the future that every organization is looking forward to. We have even witnessed Mark Zuckerberg’s Facebook change its name to Meta in 2021. This was indeed a move by Zuckerberg that clearly defined the extent and scope of the Metaverse, and you must also have come across his virtual replica, which felt quite eerie in my opinion. And like the Metaverse, NFTs that are going to be an integral part of the Metaverse are also becoming the buzz of the town and everyone is trying to get the most out of it.
And today I’ve come up with an interesting NFT project all the way from India named Meta Cricket League, whose NFTs are dropped on jump trade. This project is being built by the GuardianLink team. They are more likely to be the next team after Polygon to represent India on the global front. Simply speaking, it is the world’s first play-to-earn cricket NFTs. The NFTs are available from $30 that were dropped at $12.5 in the primary drop. It’s already above a 100% appreciation in cost. Not only that, it also has Authenticated Signature NFTs of legendary cricketers like Sachin, Don Bradman, Viv Richards, Raul David, and many more. This project seems to have a lot of potential and to appreciate at least 8x to 10x returns.
Let’s find out about the Metaverse, what it actually is, and what the three Metaverse cryptos that one should own. But with that said, one more incredible initiatives is Jet-Bot, which allows you to use Binance trading bots to follow the best traders and watch their transactions. The platform has been available since 2019 and gives new customers a 3-day trial period.
Talking about the Metaverse, the term has been floating around for at least the last few years, but you’ll be surprised to know that the word “Metaverse” was actually coined by the author Neil Stephenson back in 1992. He used this in his sci-fi novel “Snow Crash”. In this, Stephenson referred to the Metaverse as an all-encompassing digital world that exists in parallel to the real world. In 2022 experts are still expecting it to evolve over time, based on the technological developments it will make with time. But the most important aspect of the Metaverse for us is that we can ride the wave of the Metaverse and enjoy its growth with the returns it will provide.
And to save your time and energy, I have done the research for you and got you 3 amazing projects that one should definitely look forward to.
Starting with №3 on our list of the best Metaverse cryptos to own is ENJIN. It was founded in 2017 and offers a globalized database that allows users to manage and store digital gaming products in a safe and secure manner. Furthermore, the platform makes the process of buying and selling NFTs seamless via a user-friendly mobile app that comes alongside QR codes. This is a key feature that is attracting a lot of users and makes it easier for new users to adopt it. In late 2021 ENJIN announced that it would be raising $100,000,000 to fund its Metaverse journey. On the one hand, this up-and-coming Metaverse token has enjoyed a major upward pricing trend since being listed on public exchanges in 2017.
Let me show you an example here. Early investors would have paid just $0.017 per token. And if we have a look at the 2021 trends, the ENJIN Coin hit all-time highs at $4.85. Running the numbers through the calculator, this translates into end-to-end growth of over 28,000%. However, moving into 2022, the ENJIN coin has since hit lows of just $0.62 cents. This means that, in comparison to its prior all-time high, this top-rated Metaverse crypto coin is trading at a major discount, and missing out on the ENJIN at this point of time can be like missing a golden apple.
Moving on to the №3 on the list, we have the Sandbox. In direct competition with the number one contender on this list is the Sandbox, which is also one of the best Metaverse crypto coins to invest in for 2022. This project was launched even earlier than our number one contender. More on this later.
Sandbox joined the race early in 2012 when they released their very first game. However, since then, Sandbox has broadened its business model to focus on the Metaverse. The Sandbox is built on top of the Ethereum blockchain. And yes, the Ethereum blockchain is proving a major pillar in the future of the Metaverse, because a lot of projects are based on this blockchain.
Coming back to Sandbox, it allows its users to build, earn, and trade in-game items. The sandbox also includes the ability to buy virtual land and build real estate. This real estate can subsequently be sold on the open market. To make purchases of virtual land, the sandbox has its own currency named SAND. According to CoinMarketCap, SAND was first listed on public exchanges in mid-2020 at an initial price of $0.051 cents per token. And SAND hit an all-time high in November 2021, reaching a remarkable $8.44. Bringing back the calculator to good use, this rise simply means that in just one year of trading, the Sandbox increased its token value by over 16,000%.
And at №3 we have Decentraland, launched in February 2020. Decentraland is currently the most highly-valued Metaverse cryptocurrency on the market. It only makes sense to bet on Decentraland’s MANA to explode in years to come when the bull market will inevitably hit and further push the wave of the Metaverse. Decentraland is the pioneer of Metaverse cryptocurrencies featuring a free-to-play, play-to-earn 3D in-browser experience. This leading Metaverse project is built on top of the Ethereum blockchain and it offers users from all over the world a virtual gaming experience. Users can create and customize their characters, chat with other users, and explore the ever-growing Decentralian world. It’s also become one of the best Web 3.0 crypto coins to buy this year.
Decentraland also features a robust virtual real estate market on OpenSea that has a total trading volume of over 231.5K ETH. That’s a potential parameter that cannot be ignored. Decentraland is not limited to that only, it also features the most popular virtual casino, called Decentral Games Ice Poker. This virtual casino is dubbed the “Metaverse killer app” as it manages to turn over $7.5 million in revenue over the first quarter of 2022. And this speaks volumes regarding the tremendous long-term potential of Decentral Games and Decentraland.
The primary utility asset for Decentraland is Mana, which is an ERC-20 token living on the Ethereum blockchain. Crucially, all transactions that take place within the Decentraland game must be executed in Mana. This gives the token real utility, thus making it a leading project in the Metaverse world. Some of the most lucrative transactions conducted center on virtual land and real estate purchases, and let me tell you that these purchases can have a value of more than one million dollars. Mana is also Polygon compatible, meaning users can trade Mana on decentralized exchanges for lower fees.
Those were the top three Metaverse cryptos that one should definitely check out, but wait guys, that’s not all. I have a bonus token for you. Any guesses for that? Yes, you’ve got that right, it’s Ethereum. How could we forget that the three top-rated Metaverse projects that we have analyzed have one thing in common: they are all built on top of the Ethereum blockchain?
In fact, this seems to be the case with virtually all the Metaverse projects that I have come across while researching for the best Metaverse cryptos. So it goes without saying that Ethereum should also be considered if you wish to invest in the growing Metaverse industry. Because, hands down, Ethereum is literally becoming the most important pillar of the Metaverse. Ethereum is the world’s leading smart contract blockchain, which is a crucial piece of technology that allows virtual Metaverse worlds to function in a decentralized and secure manner, especially when you consider that Ethereum is due to upgrade to a proof-of-stake consensus mechanism. This year, I’m certain that this will open the doors to even more Metaverse projects. After all, Ethereum 2.0, as the upgrade, is set to come and it is claimed that it will increase the transaction speed and scalability by a significant amount. Ethereum also claims that they will be reducing the fees to near-zero, and don’t forget, when Metaverse projects build their ecosystem on top of the Ethereum blockchain, fees are paid in ETH. Thus, considering all the claims and markings, one can definitely say that Ethereum can be one of the leading game changers in this Metaverse industry that is unfolding its potential in the coming years.
So that was all from my side. I hope you enjoyed the entertaining and informative ride through the top Metaverse that one should definitely own.
[This article is a transcription of a video made by Crypto Diary]
Original video: https://youtu.be/Hoj0sLc3-Uc ]