The metaverse coin market has gained a strong momentum with its projects shouldering the last bull run. It attracts the attention of more and more investors, accompanied by technological developments. So which projects will lead the market for the rest of the year? The Nasdaq listing contributed by analyst Scott Jeffries seeks to answer that question.
2022 best 9 metaverse coins
ApeCoin (APE)
ApeCoin, Ethereum-based ERC-20 standards is a crypto currency. As a governance and service token, it allows its investors to participate in the governance of the Ape ecosystem and provides access to games and other products and services available only to Apecoin investors.
Apecoin investors will be looking to invest in cryptocurrencies in the coming days Otherside, an upcoming metaverse game by Yuga Labs, which created the popular Bored Apes Yacht Club NFTs. they can also use. As reported in Metaverse news, Yuba Labs recently raised approximately $320 million from a virtual land sale that allowed APE token investors to purchase parcels on Otherside. Investors bought 55,000 lots or “Otherdeeds” and 45,000 went to other individuals such as Yuba Labs NFT owners and project developers. The sale created so much traffic on the Ethereum network that it launched “gas fees,” the fee each user pays for making a transaction on Ethereum.
But in everything we’ve done, we’ve taken care of the BAYC and MAYC community. That won’t change. We can’t even begin to explain how insane this is going to be. See you on the other side, apes.
— Bored Ape Yacht Club (@BoredApeYC) March 11, 2022
Apecoin was launched on March 17, with a max of 1 billion at that time About 30% of its supply is expected to be in circulation. Despite its position as a brand new token, it currently has a market cap of $2.435 billion, making it one of the largest metaverse coin projects.
Sandbox (SAND)
Metaverse coin project The Sandbox performed impressively. The platform’s native token, SAND, has been on the rise throughout 2021, finally continuing its upward trend, surpassing $1 in the last quarter. As of May 17, it is trading at $ 1.36.
With its VR aspect, Sandbox expands its metaverse vision. Sandbox is actually a game and has the support of game brands like Atari. HSBC recently acquired virtual real estate on Sandbox. But it relies heavily on the creation and trading of NFTs. Players can create NFTs using the SAND metaverse-based token. Like countless other cryptocurrency projects, Sandbox is based on Ethereum.
Another promising factor is that it has a limited supply of 3 billion, of which 1.23 billion are in use. As of May 17, its market cap is $1.6 billion.
Decentraland (MANA)
In terms of popularity, Decentraland is a metaverse coin project that is frequently in the news. This is partly due to the platform’s NFT craze, which has led to significant gains for its native cryptocurrency, MANA. Many NFT traders have started using the platform to show their NFTs. But NFTs aren’t the only feature of Decentraland. As its main feature, you can buy virtual land and create virtual games and other cryptocurrencies – hence the name Decentraland, which means “centralized” in Turkish.
Recently, luxury goods and arts exchange Sotheby’s purchased a plot of land in Decentraland and chose the metaverse platform to create a replica of their London office. With this news, it can be said that he is interested in metaverse projects in his big companies.
Founded in 2017, Decentraland is one of the older projects that took a long time to get to know. While there is nothing to write about MANA’s performance, its market cap stands at an impressive $2.28 billion as of May, making it the largest metaverse coin by market cap. Like most cryptocurrencies, MANA has dropped significantly since the start of the year, but is still valued at over 8% compared to a year ago.
Highstreet (HIGH)
Highstreet is an interesting metaverse project with virtual reality support, at least in terms of metaverse applications. First, you can shop for things in the metaverse using the HIGH token. Some Shopify stores are already integrated into the platform. It also has gaming and has NFTs on its radar, so it seems up-to-date on tech and crypto trends. Moreover, HIGH is now listed on Coinbase.
The project is supported by technology company HTC. It raised $5 million in funding in August 2021. As of May 2022, its market cap is over $24.68 million.
Floki Inu (FLOKI)
Nasdaq-listed Floki Inu has meme token foundations but works for metaverse cryptos, especially applicable to those looking for low-value cryptocurrencies. Floki was inspired by the name of another crypto project, Shiba Inu and Elon Musk’s dog. The project’s website says it aims to combine memes with real-world use cases. It also says it will launch a game and NFT marketplace, as well as a content and education platform. Floki Inu has a market cap of $78 million and is trading at $0.0000087 on May 17.
Metahero (HERO)
Metahero, a new metaverse project revolving around creating HD avatars of real-world objects and people using 3D scanning . The company has even set up a scanning room in Doha that scans objects and creates their digital, 3D forms for Metahero. Later, it announced its strategic partnership with Wolf Studio for this purpose. The project’s native cryptocurrency, HERO, has a market cap of $84.8 million as of May 2022. Although relatively smaller than the other projects on the list, this is because the project is very new.
Terra Virtua Kolect (TVK)
Terra Virtua Kolect is a project that dates back to 2017, when NFTs were not in the market. However, now it’s a virtual environment all about NFTs. You can create, sell and buy NFTs from other members using local tken TVK. As Terra Virtua Kolect is tied to NFTs, it has enormous potential given the increase in NFT investment. According to CoinMarketCap, the platform is compatible with web, PC and augmented reality/VR environments.
TVK’s market cap is currently over $28.87 million, while its YTD performance is 80%. However, new partnerships such as a recent partnership with NFT game Kawaii Islands could increase the user base enough to make it viable in the long run.
Star Atlas (ATLAS)
Star Atlas (ATLAS) is a metaverse project based on a game that offers stunning graphics. The game shows the future – the year 2620 to be exact – where players can conquer lands and gather resources in a highly futuristic environment.
Star Atlas, currently in development, also includes ATLAS, a metaverse token earned through gaming. You can think of Star Atlas as an average prize-based game where you earn money as you play and achieve something. In this case, however, the rewards have the potential to generate profits. The game is based on Solana which gives the advantage of low transaction fees compared to Ethereum based projects. ATLAS has a market cap of over $20 million and is trading at $0.009655
Enjin (ENJ)
You will see a lot of metaverse coins in games and Enjin is no exception. Enjin is a metaverse-style game environment where you can “mint” (mint) the local token ENJ, which you can then use to purchase assets that will help you progress through the game. Everything in the game, from medicine to improving your character’s traits, can be paid with ENJ. So it is also like a market place.
Enjin is also Ethereum-based and has a market cap of over $648 million. Despite the decline of the last few months, ENJ has gained approximately 4077% since its launch in 2017. It has also recently launched the first NFT parachain, which makes available over 100 games and apps on Polkadot.
What is a metaverse coin?
Metaverse is the technology behind a virtual universe where people can shop, play games, buy and trade currencies and objects. You can think of it as a combination of augmented reality, virtual reality, social media, gaming and cryptocurrencies.
In the metaverse world, cryptocurrencies serve as “money”. Its economy is based on the concept of Blockchain. This is naturally where the terms “metaverse coins”, “metaverse tokens” and “metaverse crypto” originate. Every metaverse project has cryptocurrencies used for transactions in that particular medium. You can reach the detailed metaverse guide we prepared as
Kriptokoin.com here.
Metaverse projects available
Numerous metaverse projects are already in motion and their cryptocurrencies can be purchased, some even listed on certain exchanges. Both crypto investors and enthusiasts are watching these projects as they show potential. According to Macro, a UK-based research firm, in 2021 metaverse coin earnings outpaced Bitcoin with a 37,000% increase. Meanwhile, Bitcoin, the largest cryptocurrency by market cap, gained 100%. Metaverse projects range from virtual games to NFT markets, each proposing a unique concept and even some real-world applications.
