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We can exist as digital identities in the metaverse, which is a parallel virtual universe. The tech industry has made it obvious that the metaverse is not a fad, but rather the future of human connections and transactions across a wide range of industries. Businesses have already begun investing in it, even though it is still in its early stages of development. Metaverse coins are the next big thing right now. These cryptocurrencies, the next undiscovered possibility, have the potential to transform how companies interact and engage with their audiences. The value of these coins has only increased when Facebook changed its name to Meta. In 2022, the introduction of metaverse has redirected the entire cryptocurrency market trend in a new direction. With cryptocurrency markets currently trading sideways, Metaverse crypto coins are extremely discounted and represent an excellent buy opportunity. This Cryptoknowmics article examines our top Metaverse crypto coins according to their global market cap. But before that, let us have a brief and clear understanding of Metaverse coins.
What are Metaverse Coins?
People in the metaverse utilize metaverse coins as a form of payment. Coins can be used to buy anything in the 3D world, from avatar apparel to real estate. They can also use the platform to manufacture and sell products, goods, and services. Some tokens can only be used within their metaverses, while others can be purchased on cryptocurrency exchanges like Binance. Metaverse tokens, however, are more than just in-game currency; they have worth both inside and outside the metaverse. For example, the currency can be used to represent unique assets such as community members. By using these coins, you can also gain access to VIP features and compete with other players. Metaverse coins can also be exchanged for real money. Non-fungible tokens (NFTs) can be used to prove ownership of digital assets such as artworks and collectibles. Metaverse coins, like any other investment, require careful examination to decide whether you're making a wise decision. The market capitalization of the asset is one factor that investors analyze. Therefore, this article will give you a better understanding of which coin has the most potential in the market and is doing good.
Top Metaverse Coins by Their Market Cap
The current market capitalization of Metaverse-related crypto has surpassed $23 billion, (at the time of writing) according to Coinmarketcap. Traditional crypto investors are increasingly diversifying their assets into the metaverse industry as the number of initiatives grows. The reason to base this list on the market cap of each coin is that it speaks volumes about how far a coin can go. Market cap is significant because it evaluates a cryptocurrency's value, provides a more complete perspective of a cryptocurrency, and compares its value to that of other cryptocurrencies. As a result, stakeholders may be able to make more informed investment decisions. This also enables users to assess a cryptocurrency's potential for growth as well as its volatility in comparison to other cryptocurrencies. Now, let us move ahead with the list.
Gods Unchained (GODS)
The token is trading at $1.07, with a market cap of $25 million. Gods Unchained is a free-to-play tactical card game in which players have complete control over their in-game assets. Magic's former game director is in charge. The Gathering: Arena is a competitive card game in which players must strategically outsmart their opponents by designing decks that can combat a wide range of techniques. Players in Gods Unchained have entire ownership of their digital goods, allowing them to trade, sell, and utilize them in any way they see fit - just like they would with actual, tangible cards. Gods Unchained is the top Metaverse crypto game featuring a Hearthstone-style trading card game and the popular play-to-earn mechanism, which was released in October 2021. Gods Unchained uses NFTs to tokenize in-game assets, keeping up with the latest crypto innovation and trends. The principles of the game are similar to those of Hearthstone, and it includes GODS, the game's native utility token. The token can be used to buy cards, take part in in-game events, and so on. With a large number of social media followers, the game has quickly expanded in popularity. As a result, the total amount of money made has increased as well. So far, more than $7 million in cards have been traded, and blockchain experts consider this game to be the next best thing after Bitcoin. Once the native token GODS is listed on several cryptocurrency exchanges, it will gain even more popularity. It is unquestionably a game worth playing and profiting from.
Highstreet (HIGH)
The token is trading at $3.71, with a global market cap of $45 million. HIGH Currency (Highstreet) is the native token of a decentralized commerce-focused play-to-earn metaverse with support for virtual reality (VR). Highstreet (HIGH) presents a market where in-game things can be redeemed for real-life objects, in addition to enabling a two-way financial flow between the physical and virtual worlds. Users can explore the metaverse, fight monsters, and complete tasks while earning things that are both digital and real-world usage. The initiative intends to establish a new era of retail by providing an easy, secure, and enjoyable way to make online purchases. It has an MMORPG Metaverse game in which players may take on different roles such as Archers and Brawlers. The purpose of the game is to eliminate monsters and protect cities, and users are rewarded for their efforts. With their game, Highstreet connects the digital and physical worlds by transforming products into in-game assets that are solely owned by the player base. In the Highstreet World, players can explore a continent called Solera as well as an ever-expanding archipelago of unknown islands. Users will be able to buy armor and gear in-game and customize their characters to fight in fights and explore the Metaverse's large open environment.
Decentraland (MANA)
The token is trading at $2.34, with a global market cap of $4 billion. Decentraland is a virtual reality platform that allows you to purchase property tracts. You can expand the plot by constructing and monetizing whatever you want on it. Decentraland, which was created in 2017, was one of the first to attempt to create a decentralized virtual reality based on Ethereum. Only 90601 parcels of LAND are available, each measuring 16 square feet. The ecosystem's native token, MANA, has a 2.2 billion supply. The total number of tokens in circulation is 1.8 billion. This platform is used by gamers, creators, and businesses who want to profit from metaverse opportunities while also having fun. The currency will be in high demand if it has a huge target audience. Decentraland is an appealing investment because of this. According to CoinMarketCap, an investor who purchased MANA in 2017 would have received a nearly 12,000 percent return. It increased nearly 4,000% in one year, from about 8 cents to $3.27. Decentraland was designed for content creators, businesses, and individuals seeking a new artistic medium, business opportunity, or source of entertainment.
Axie Infinity (AXS)
The coin is trading at $47.06, with a market cap of $2 billion. Axie Infinity is one of the most popular and profitable blockchain games ever created. Do you remember the game 'Pokemon Go'? Axie Infinity, like Pokemon, is a charming NFT pet game that has fattened the wallets of crypto nerds and laypeople who would otherwise avoid the crypto market. By playing their game, players can earn AXS, the Axie token. It has been a huge success, with some reportedly quitting their jobs to pursue the 'play-to-earn' lifestyle. It permits the use of its tokens in its metaverse. At Axie Marketplace, the AXS token can be exchanged for ETH and used to purchase NFTs. Axie is the market leader in the P2E sector, with impressive numbers and growth to back up its claim. Axieinfinity.com is the world's 1,072nd most popular website, and the world's 18th most popular finance website, according to Similarweb. In November, the website received 26.6 million visitors. Axie Infinity is the Philippines' 38th most visited financial website. In March, Axie Infinity gained 2% in the very first week of the month. The cryptocurrency reached an all-time high of $160 per AXS on November 6. Among the metaverse currencies, Bitcoin could soon reach new highs. AXS may be traded on several exchange platforms as of March 2022, including Binance, Huobi Global, Coinbase, FTX, Bithumb, KuCoin, Gate.io, and Kraken.
SandBox (SAND)
The coin is trading at $2.81, with a global market cap of $3 billion. The Sandbox is a virtual environment where gamers can use the SAND token to create, own, and monetize their gaming experiences on the Ethereum blockchain. Players can generate digital assets in the form of Non-Fungible Tokens, sell them on the market, and use Game Maker to integrate them into games. The Sandbox gives creators actual ownership of their works in the form of NFTs and compensates them for participating in ecosystem activities and interactions including transaction fees, staking, and buying and selling game objects, among other things. Anyone can create fantastic 3D games for free using Game Maker. No coding is required because users can utilize visual scripting tools to build aesthetically spectacular games in minutes. Users can also upload, publish, and sell their VoxEdit creations on the marketplace. And recently, Sandbox has topped 2 million registered users during its play-to-earn season two alpha launch. The crypto game, which is backed by NFTs and its native SAND coin, has been in development for nearly four years, and the current peak comes just a few months after the game's long-awaited season one alpha debut in late November 2021.
Conclusion
Since 2017, a slew of new cryptocurrencies has entered the burgeoning cryptocurrency market. Initially, meme coins were just used for amusement, but cryptocurrencies such as Dogecoin and Shiba Inu have demonstrated that they can be real investment vehicles. This year, however, appears to be the year of the Metaverse Projects, with investors hopeful.