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Top 3 metaverse cryptos You Should Have in Your Wallet!

Cryptocurrency


When you hear the word metaverse, what is the first thing that comes to your mind?

I know, it’s been a word on everyone’s lips for the last 12 months. Even I can’t stand all the improvised people and crypto gurus who talk about the metaverse just to brag in front of a few followers on social media.

Many people don’t know that the concept of “metaverse” has been around for a few decades, but whatever, that’s not the point of this article.

Metaverse has become one of the hottest topics of discussion in the tech world, especially after big companies start investing. Facebook, Microsoft, Google, Sony, and many other giants are diving into metaverse with their unique platforms. The concept of the metaverse only gained traction after Facebook announced a rebrand to meta in October 2021.

What we are going to look at today are 3 of the top current projects based on the metaverse.

I don’t want to rank them, and that’s not to say that there aren’t other good projects, but I wanted to select the ones that have shown more robustness and practical developments so far.

Today I am just going to give you a brief introduction to each one so that you can begin to get an idea and do your research on them. But more in-depth reviews for each of these metaverse projects will be coming out soon. So, follow me to stay updated on my upcoming publications.

I don’t want to give spoilers, but there will be a few articles coming up soon where I’m going to debunk some myths about cryptos!

Now, let’s start with the first project!

Decentraland (MANA)

Decentraland is nothing but a virtual game. To be precise, it is one of the very first metaverse projects which is a cryptographic video game that is based on the buying and selling of digital land. Land for sale on Decentraland starts from the price of 1.7 ETH now. For this reason, the game has inevitably attracted all traders who operate on highly speculative investments.

Decentraland is a 3D metaverse. For those unfamiliar with these terminologies, we specify that, by metaverse, we mean a virtual reality in which physical persons can interact in different ways, through their avatar. In detail, on Decentraland we manage properties of land and objects through NFTs that, in this case, are supported entirely by the Ethereum blockchain. Recall that a blockchain is nothing more than a public ledger in which digital transactions with cryptocurrencies are recorded. In Decentraland, all changes on the blockchain are made by the DAO (Decentralized Autonomous Organization). Also, all transactions take place using MANA which is Decentraland’s cryptocurrency.

How can you buy in Decentraland?

Mainly there are 2 ways. The first is to buy the MANA currency, the second is to buy their land in the metaverse through OpenSea.

MANA is listed in all the main exchanges: Binance, Coinbase, FTX, Kucoin, Huobi, Kraken.

If you’re interested in the metaverse, you can buy your land through their official OpenSea: https://opensea.io/collection/decentraland

At floor price, you can find lands the size of a “Parcel”. This is the functional unit of the game world chessboard. A Parcel is equivalent to 16 x 16 meters and is the smallest portion of land you can purchase.

The Sandbox (SAND)

The Sandbox is a virtual world where players can build, own and monetize their gaming experiences on the Ethereum blockchain using the platform’s utility token, SAND. With The Sandbox it seems that the universe of video games wants to get back into the metaverse, offering an experience as immature as unique.

The vision is to provide an immersive virtual world in which players will collaborate to create virtual worlds and games without the need for a central authority. Their goal is to disrupt incumbent game makers like Minecraft and Roblox by giving creators true ownership of their creations as non-fungible tokens (NFTs) and rewarding their participation with our utility token (SAND). With The Sandbox, they aim to overcome these limitations while accelerating blockchain adoption to grow the blockchain gaming market.

Snoop Dogg, for example, has already rebuilt his mansion within Sandbox and is offering VIP tickets for his live show to people on the platform. Several figures in the network’s business world are offering access to special events on the metaverse with the purchase of a few NFTs, a phenomenon that could get bigger and bigger.

Axie Infinity (AXS)

Axie Infinity is currently one of the most popular Play2earn games in the world, played by thousands of users and with a colossal volume of asset transactions within it.

Players who decide to register and play the game can obtain prizes and rewards for the game played. We have been a concrete reference point in the cryptocurrency sector for years and we are now proposing a game that integrates the well-known blockchain technology (used directly in many sectors).

Being fully inserted in the crypto world and the metaverse, Axie Infinity has several tokenized assets within its ecosystem. One example is the Axie Infinity AXS governance asset, which is only tradable on major online platforms.

It is a Pokémon-inspired universe where players can unlock, improve and customize their creatures known as Axies in many ways. What’s more, you can collect resources and items to upgrade your land lots and, consequently, train your Axies even more efficiently.

Land plots can be upgraded over time using resources and crafting elements that can be obtained by playing. In addition, landowners could find AXS tokens on their plots of land or use Axies found within their land to explore the map and obtain other resources.

It’s like a real estate market. Just as in a physical real estate strategy, if someone builds or improves the land next to ours, it becomes more valuable. When you’ve played so hard that you’ve improved your plot of land enough you can resell it as an NFT, which is a unique virtual object that doesn’t have any kind of copy in another object on the network.

Conclusion

Actual Token Price:

MANA: $0.83

SAND: $1.06

AXS: $14.72

I am convinced that we are still in a very primitive stage as far as the metaverse is concerned.

In my opinion, the concept itself and future use cases that are useful are still to be discussed. I can see it being nice from a gaming perspective mainly, but for more common uses (e.g., video calling, conferencing, etc.) I still don’t find many advantages over a regular webcam with a screen.

As you may have noticed, all these 3 cryptos are “gaming-oriented.”

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