Metaverse is a digital world expected to function parallel to this tangible realm. But you can’t imagine any universe without a currency, can you? How do you think the already long list of metaverses will survive? No matter how many metaverse companies are taking this seriously, there can’t be any metaverse without metaverse crypto coins.
Metaverse Crypto Coins: What, Why, & How?
Metaverse coins empower you to do exactly what a regular fiat currency lets you in this real world. These limited supply crypto coins are supported with blockchain technology. Whereas previously, people used to buy it to have in-game items for blockchain games, it’s becoming a lot more serious now. For instance, you can buy a piece of (virtual) real estate on Decentraland with MANA, a metaverse crypto coin. And gradually, you can lend it to someone to open a virtual shop when the platform gets crowded with users. What??? Take it from McDonald’s attempt to open a metaverse restaurant to deliver food to real-world addresses or Hyundai setting up a metaverse factory. With Samsung also having a metaverse outlet, it seems like the beginning of a trend. Soon enough, metaverse will be a place to hang out–and a very popular one. Brands will advertise, connect, and sell through it. But don’t confuse metaverse with just a big shop. People have started to host live events, exhibitions, meetings, and even date on metaverse. Ergo, a few top metaverse crypto coins are worth our attention. They can be the future go-to computer currencies in these virtual worlds. Let’s discuss them, starting with the first…
Enjin Coin (ENJ)
Enjin Coin is an Ethereum-based token. You can use this to purchase assets in several metaverses linked to the Enjin ecosystem. Whereas most top metaverse crypto coins are linked to just their parent metaverse projects, Enjin Coin can prove great value due to its affiliations with many networks. You can store Enjin on any Ethereum crypto wallet, like Metamask. One can purchase or exchange Enjin coins on multiple crypto platforms like Binance, Crypto.com, Coinbase, Gemini, etc.
Decentraland (MANA)
Unlike ENJ, MANA is another Ethereum token tied exclusively to a single metaverse: Decentraland. You can use it to purchase land parcels, goods, and services from other users inside Decentraland. But don’t let this fact misjudge MANA, as Decentraland is one of the top metaverse projects. Currently, MANA is the topmost metaverse coin with a market capitalization of over USD 5 billion dollars. You can buy MANA on Coinbase, Kraken Gemini, etc.
Illuvium (ILV)
Illuvium is a decentralized RPG and collection game, and ILV is the Ethereum token associated with it. The concept is the same as any Metaverse, but this is straightforwardly shaped as only a game. The gameplay is centered around 3D roleplay to collect Illuvials (in-game beasts) to fight other users and explore the ravaged planet. Notably, you don’t need ILV to play Illuvium as the in-game buying is taken care of with Ether (ETH). However, the purpose of ILV ownership is to have a say in governing decisions. In addition, you can stake it for earning more ILV through the in-game earnings. You can buy ILV from Binance, Crypto.com, KuCoin, etc.
The Sandbox (SAND)
SAND is an ERC-20 crypto token used in the metaverse: The Sandbox. Again, this is aimed at the gamers looking for a digital experience to buy, sell, and build in that metaverse. So you can purchase a parcel of land, monetize it with assets or simply resell it at a later stage as a non-fungible token. You can also create games with the Sandbox game-maker without any coding skills. These games add to the options to earn within the gameplay. Similar to the Enjin platform, SAND holders can participate in the Sandbox governance. Likewise, they can stake their SAND tokens to maximize their Sandbox earnings further. You can purchase SAND on Binance, UPbit, BITTREX, etc.
Axie Infinity (AXS)
You need to purchase at least three AXS to start with Axie Infinity. Axie Infinity Shards (AXS) are the ERC-20 tokens that support Axie metaverse. Axies are the in-game pets that help you win battles to have more of them. The ecosystem is based on user-to-user asset transfer, with the reported 95% of the revenue going back to the gamers. Other than Axies, you can buy additional in-game items like Land plots. As of this writing, the most economic land plot on the Axie marketplace was priced at USD 7628. As crazy as it sounds, some people are leaving their day jobs to play Axie Infinity. You can also stake your AXS to earn rewards. This is the governance token of the Axie universe with a market cap of 3.4 billion US dollars. This top metaverse coin is listed on Binance and Uniswap for purchase.
WAX (WAXP)
WAX is short for Worldwide Asset eXchange™. It’s one of the most used blockchains with over 15 million daily transactions. WAX is trying to revolutionize NFTs with its vIRL concept. Take a look: WAXP is one of the best metaverse coins native to the WAX blockchain. The main point is to stake WAXP to accumulate staking rewards. In addition, it gives you governance powers in future proposals. In addition, you can also use WAXP with games on WAX, of which there is no shortage. The in-game assets trade as NFTs that you can sell with profits. Finally, the incentive for trading NFTs on the carbon-neutral WAX blockchain is zero transaction fees. As of this writing, WAXP was available on BITTREX, Binance, etc.
Theta Network (THETA)
Theta is the first of its kind peer-to-peer video delivery network. It solves slow video delivery in various parts of the world. In addition, the objective is to provide an economical content delivery solution for the streaming companies. THETA token is the incentive you get for active participation in the video network. You can use these tokens to donate, access premium content, and share virtual items like an NFT. Other than giving away extra network resources, you can stake THETA to monetize further. In addition, this is also a governance token similar to WAXP, SAND, AXS, etc. Notably, THETA is only third in the list of top metaverse crypto coins with a current market cap of USD 3.6 billion. Finally, you can purchase THETA at Binance, CoinDCX, etc.
SushiSwap (SUSHI)
SushiSwap is a decentralized exchange with SUSHI as the native token. It runs on Ethereum and incentivizes the users that help it run the platform. SUSHI holders stake their tokens for the traders to transact. Conclusively, they get rewarded with the transaction fee paid by the exchange users. Interestingly, SushiSwap is operated by Smart Contracts and not any central authority. This also means that SUSHI is also a governance token. You can buy SUSHI at Uphold, Binance, Coinbase, etc.
Chromia (CHR)
CHR is the native ERC-20 token of the Chromia ecosystem, which calls itself a relational blockchain platform. The aim is to simplify the creation of decentralized applications (dApps) by combining blockchain technology with conventional relational database systems. DApps on Chromia pay the hosting fees in CHR. Additionally, dApps themselves collect it as fees paid by the application users. Besides, it’s a governance token of the Chromia blockchain that participants can stake for rewards. The Chromia token (CHR) is available to purchase on Binance, CoinDCX, etc.
PlayDapp (PLA)
PLA is yet another ERC-20 token, the in-game currency for PlayDapp ecosystem of games. This collection of games has interoperable assets. You can play with your asset, upgrade it, and list it on the marketplace to earn a profit. Every sale carries a transaction fee which is divided between the company and the game developers. You can find it listed on major exchange platforms like Coinbase, Binance.
Conclusion
This was our round-up of some of the best metaverse coins to buy with the integrated metaverse projects. But don’t invest more than you could afford to lose. There are tons of new projects, and nobody knows their eventual fate. Conclusively, be informed and go slow in your hunt for the best metaverse coins. On a side note, check out some top metaverse companies with their virtual implementations.
