When most individuals consider cryptocurrencies, Bitcoin (BTC) is frequently the first that comes to mind. Although there are several alternative options and the Ethereum blockchain is the most significant of all those, many people who are inexperienced with cryptocurrencies occasionally incorrectly believe that Bitcoin is the only cryptocurrency available.
Let’s find out what other cryptos are available in the Metaverse.
What Crypto is in The Metaverse
Looking for the best cryptocurrencies in the metaverse? The following is a list of a few of the cryptos in the metaverse:
The Sandbox (SAND)
A crypto metaverse project called The Sandbox has done excellently. SAND, the platform’s native token, rose steadily throughout 2021 and ultimately crossed the $1 threshold in the last three months of the year. It then continued to grow, reaching an all-time high of $8.40 in November.
Nevertheless, the price has since fallen precipitously like most, if not all, cryptocurrencies, and as of right now, it is $1, up almost 50% from its one-year low.
This project is bringing the metaverse’s concept to life by including a virtual reality component. Since The Sandbox is primarily a game, it may be able to survive the current bear market with the support of gaming companies like Atari. Additionally, according to Deadline, Lionsgate and The Sandbox recently collaborated to develop a “Hellboy”-themed metaverse location, and Tony Hawk revealed he will construct a skatepark there.
NFT production and trading are key to the Sandbox. The SAND metaverse tokens can be used by players to generate NFTs. This cryptocurrency project, like several others, is founded on Ethereum. According to Fortune, it just released Alpha Season 3, which is anticipated to draw 500,000 users.
Decentraland (MANA) Metaverse
There has been a great deal of media coverage regarding Decentraland, one of the most popular crypto metaverse projects. Part of the reason for this was the NFT craze, which led to significant gains for MANA, the native token of the platform.
Many NFT owners started using the website to showcase their NFTs. However, this metaverse platform contains more than just NFTs. Its primary function is the creation of virtual games, virtual real estate, and other digital products.
The luxury items and artwork broker Sotheby’s purchased a parcel of land in Decentraland and utilized it to build a copy of its London offices. This illustrates that even big businesses are thinking about undertaking metaverse projects.
One of the older projects that have been struggling to gain popularity is Decentraland, which was started in 2017. MANA is currently the second-largest metaverse token by market cap, despite its lackluster performance. Its market cap currently stands at $1.36 billion.
MANA has decreased dramatically since the start of the year, but over the past few months, it appears to have stabilized.
ApeCoin (APE)
Since APE is an ERC-20 token, it may be found on the Ethereum blockchain. Its dual function as a governance and utility token enables users to take part in the management of the Ape ecosystem and grants them access to online games and other goods and services that are only available to owners of ape coins.
At the time of its March 17 introduction, 30% of the total 1 billion coin supply was anticipated to be in circulation. Apecoin is currently the largest metaverse coin with a market cap of $1.57 billion, despite being a brand-new token that has faced significant difficulties.
Highstreet (HIGH)
There is a lot of potential for metaverse applications with Highstreet, at least in terms of its virtual reality support. The currency HIGH can be used to purchase items in this virtual universe. There are already a few Shopify stores integrated into the platform.
It seems to be up to date with technology and cryptocurrency trends since it mentions gaming and has NFTs on its radar. Furthermore, Coinbase now offers access to HIGH.
This initiative already fulfills what the metaverse technology claims from a real-world, or in this case, meta-world, perspective. This can be a smart choice if you’re an investor who values pragmatism as a yardstick.
Floki Inu (FLOKI)
Even though Floki Inu is another dog-meme-based cryptocurrency, it is a contender for a usable metaverse coin, especially for those seeking out inexpensive coins. The currency bears Elon Musk’s Shiba Inu dog’s name, which is also the identifier of another cryptocurrency project.
The initiative, according to its website, aims to combine memes with real-world use cases. Additionally, games, marketplaces, publishing, a portal for education, and more are mentioned. Even though this project is still in development, more than 400,000 people have purchased FLOKI tokens.
Epilogue
The Metaverse is flooded with tons of cryptos. But, one has to be careful about the crypto projects in the metaverse. As one wrong move can turn you from a King to a pawn
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