The metaverse has opened up a whole new world of possibilities for crypto enthusiasts and participants in the world of decentralized finance (DeFi).
Unlike traditional cryptocurrencies, metaverse coins are used in both the natural world and the metaverse. These coins power the in-game economy of their games and can be traded on crypto exchanges.
As a result, this has led to rising interest in metaverse games and their many associated coins. So, the question is, are they all that worth it?
Well, in this article, we’ll be looking at a selection of the most prized metaverse coins in the market.
1. AXS – Axie Infinity
Market capitalization: $3,467,278,134
Average Price (over 7 days): $46.81
AXS is the in-game currency used in Axie Infinity – a PVE action-adventure game from Korean studio Sky Mavis.
In Axie Infinity, players are challenged to build up a team of magical creatures known as Axies. These Axies are then used to do battle with other players or the game’s AI to earn Smooth Love Potions or SLPs.
SLPs have a variety of uses, and they can be traded on the Axie Infinity marketplace or used to breed rare Axies. Particularly rare Axies also double as NFTs, which are then traded on the marketplace for AXS.
Given Axie Infinity’s runaway success, there has been plenty of demand for AXS tokens. Some players in the Philippines have taken to playing Axie Infinity as a full-time job to farm for NFTs and AXS tokens.
2. MANA – Decentraland
Market capitalization: $3,441,768,471
Average Price (over 7 days): $2.28
Decentraland allows you to become a certified real estate mogul in the metaverse by trading land and property plots in-game.
But how on earth does Decentraland certify your property as being real in the virtual world? Well, it does that by using NFTs to verify ownership of a piece of land and your in-game assets.
Besides that, players also have the freedom to develop plots of land and create their assets. From here, they have the option to flip their real estate to earn the game’s currency – MANA.
And just like the real world, the prices of property in this incredible metaverse have skyrocketed at an incredible rate. With interest in the metaverse on the rise, we can only expect real estate prices in Decentraland and MANA tokens to grow further.
3. SAND – The Sandbox
Market capitalization: $3,104,455,196
Average Price (over 7 days): $2.75
Open-world game The Sandbox harks back to the days of Minecraft and Stardew Valley, where players have the freedom to explore and harvest the resources of a vast open world.
Like a literal sandbox, players are only limited by their imaginations. From machines and cities to literally entire worlds, The Sandbox challenges players to unleash their true creativity and create a new gaming experience.
With the game’s creation engine VoxEdit, players can craft just about anything, which can then be listed on The Sandbox’s marketplace. These assets are minted into NFTs, where they are bought and sold by other Sandbox players for in-game currency known as SAND.
The popularity of The Sandbox has naturally caused a rise in interest for SAND, with investors looking to get aboard the train.
4. ENJ – Enjin Coin
Market capitalization: $1,234,522,031
Average Price (over 7 days): $1.33
ENJ is the in-game token used in various games, from 9Lives Arena to Age of Rust and Azure Heroes. All of which are powered by Enjin – a community games platform that uses the ENJ token.
Besides being an in-game currency, ENJ is used to mint NFTs and craft digital assets on the platform. Thus, allowing for a remarkable degree of interchangeability between games.
Closing Thoughts
Metaverse coins are an exciting concept, and their true potential remains unexplored. You can find a more complete list of metaverse coins here: https://blog.tezro.com/top-metaverse-crypto-coins/
However, if you intend to invest in them, you should always perform your own research and come to your own decisions. It’s always smart to look for reviews and see if it’s worth your time and financial risk.
