Interest in the metaverse, which forms a bridge between the real and virtual worlds, is expected to grow rapidly in the coming years.
This is supported by social media giant Facebook when it recently changed its name from Facebook to Meta. This guide focuses on the best metaverse tokens to buy in 2022.
The four main Metaverse projects discussed below, namely Decentraland, Sandbox, Axie Infinity, and Enjin Coin, have something in common. They are all built on the Ethereum blockchain. This seems to be the case with almost every Metaverse project out there. Therefore, Ethereum should be considered if you want to invest in the industry.
Indeed, Ethereum is the largest smart contract blockchain globally, which is an essential technological element that allows the virtual worlds of Metaverse to operate in a decentralized and secure manner. And considering that Ethereum will move to a stake-proof consensus mechanism this year, it will open the door for even more Metaverse projects.
Axie Infinity (AXS)
Recently launched in 2020, Axie Infinity is one of the best Metaverse cryptocurrencies for play to earn. AXS is built on the Ethereum (ETH) blockchain. For those unfamiliar with this concept, play-to-win games allow users to generate rewards when certain tasks are completed. And it encourages users to interact with the wider Axie Infinity ecosystem. Once minted, it can be represented as a single NFT, which can be sold on the open market.
The Sandbox (SAND)
Sandbox is a solid investment for 2022 because it has applied blockchain technology to a huge global market such as the gaming industry and is completely focused on decentralization. With the aspect of virtual reality, this project realizes the vision of the Metaverse. HSBC also recently purchased virtual real estate in the Sandbox Metaverse. They also have a unique system of creating and selling NFTs backed by the NFT gaming giant Animoca Brands. Players can create NFTs using SAND metaverse tokens.
MANA is a virtual reality (VR) platform powered by the Ethereum (ETH) blockchain that lets users experience, create, and monetizes content and applications. It is the most developed Ethereum-based Metaverse. Users of the Decentraland use MANA to pay for virtual plots of land as well as in-world goods and services. It is one of the most sought-after metaverse cryptocurrencies of 2022.
Gala games (GALA)
Gala plans to invest $2 billion in games, $1 billion in movies, $1 billion in music, and $1 billion in an NFT-specific theme park. They have only released one game on its platform, so the growth potential of this project is huge. If they succeed in implementing the strategy they have planned, the network can and should be one of the household names in the future of Metaverse.
Sensorium Galaxy is a digital metaverse developed in collaboration with some of the world’s best artists, producers, and media companies. Currently, in beta, this Metaverse is made up of multiple worlds, each serving as a dedicated hub for a specific set of experiences. A crucial feature of the Sensorium Galaxy is its monetary platform, SENSO, which uses blockchain technology to power a fair, transparent, and user-friendly decentralized economy.
Wax (WAXP) was launched in 2017 to expand e-commerce transactions, making them faster, safer, and easier. With the platform’s blockchain-based tools, WAX is a decentralized application in which markets and NFTs are also available. It is one of the most sought-after metaverse cryptocurrencies of 2022.
Sushi Exchange (SUSHI)
SushiSwap hosts a popular decentralized exchange that allows users to buy and sell digital currencies without the need for a centralized third party. This popularity has caused SushiSwap to surpass a market capitalization of $500 million in early 2022. SushiSwap has expanded its business model by creating an NFT marketplace in partnership with Metaverse.
Make no mistake about it: metaverse platforms require a significant GPU space. After all, some of the major Metaverse players process many transactions every second, which increases the amount of processing the main blockchain has to deal with. And that, in turn, results in higher transaction fees and slower processing times. This is where Render Token comes in, as the project provides a distributed GPU rendering network that all Metaverse projects can use.
Launched on March 17, 2022, ApeCoin (APE) is currently the most popular Metaverse cryptocurrency. It boasts a market cap of over $1.7billion at the time of writing. Since its inception, APE has surpassed all other cryptocurrencies in Metaverse. This shows the huge potential and community support around this project.
ApeCoin will serve as the primary utility resource for Metaverse, which recently closed a land sale that sold out in minutes and knocked the Ethereum blockchain upside down, catapulting gas prices by the thousands.
ApeCoin was launched for the Web3 economy, and token holders have the power to vote to influence the outcome of proposals initiated by the ApeCoin Foundation/DAO.
APE is an ERC-20 asset that lives on the Ethereum blockchain. It has a maximum supply of 1billion tokens, and its tokenomy will not allow it exceed its supply.
Enjin Coin (ENJ)
Enjin Coin (ENJ) is an ERC-20 token built on the Ethereum blockchain. ENJ is an in-game currency for purchasing in-game items. It adds value to in-game assets and can also serve as a medium currency to buy and sell any game element. The Enjin platform also has another feature; the Marketplace. This feature allows gamers and game developers to trade the items they’ve created on a marketplace without brokerage fees. Many crypto experts believe that Enjin coin has a bright future ahead of it.
Haley Hayward is an experienced writer at gblogo.com, where she’s credited with more than 200 articles covering everything from entrepreneurial stories to mental health at work.
She also oversees the Comment&Questions, which poses important admission questions to experts in the field, and regularly hosts webinars on various aspects of the business school experience.
Prior to joining gblogo.com, Haley honed her skills as a freelance writer, tackling a wide array of topics from petcare to car maintenance.
Haley holds a Master’s degree in English Literature from the University of Edinburgh, Scotland.