Metaverse Crypto: What are the best coins?
Metaverse Crypto has brought more projects into the non-fungible token (NFT) space. Although Binance Smart Chain, Solana, and Avalanche have tried breaking into the space, Ethereum remains the biggest NFT blockchain by sales volume.
Metaverse crypto projects in the crypto finance space run into the thousands as of April 2022. Having seen the impact of the non-fungible tokens (NFTs), several developers have turned away from creating decentralised applications or protocols (dApps) and have instead opted for digital collectibles.
This has seen thousands of crypto metaverse projects added to existing ones. Blockchain technologies come with native assets and so do the best metaverse crypto projects.
It is not surprising, then, to find questions like what are the best metaverse crypto coins, what are the best metaverse crypto tokens, and what are the top metaverse crypto coins on Google, DuckDuckGo, Yahoo Search, and Bing daily.
What are the top metaverse cryptocurrencies?
Of course, there are thousands of metaverse cryptocurrencies. We have selected Axie Infinity (AXS), The Sandbox (SAND), Decentraland (MANA), ApeCoin (APE), and Enjin Coin (ENJ) as the top five in-demand metaverse cryptocurrencies.
Axie Infinity (AXS)
Launched in 2018 by the technology-focused game developer Sky Mavis, Axie Infinity is an ERC20 token. This means that the Axie Infinity ecosystem is housed in the Ethereum blockchain.
Axie Infinity is a massively successful play-to-earn game that allows users to earn rewards for completing specific tasks in-game. A great example of this is completing a level in a video game and earning, let's say, $50 for your effort.
This motivates gamers to engage with the entire Axie Infinity ecosystem and see the amount of money they can earn as rewards within a given period. What’s more, once some of the in-game purchases are minted, they can be represented as an NFT that is indivisible, indestructible, non-interoperable, and verifiable.
These digital collectibles can be sold on an NFT marketplace such as OpenSea.
This is the primary reason why Axie Infinity has surpassed more than $4 billion in NFT sales volume. As one of the top metaverse crypto projects, Axie Infinity has one of the most demanded metaverse crypto tokens in the form of AXS.
AXS became a tradable token in November 2020 and saw huge investor interest. In the crypto boom of November 2021 that saw Bitcoin (BTC) test new milestones, AXS reached an all-time high price of $165.37 on November 6, 2021.
According to the projections of some of the reputable crypto news and forecasting portals, AXS could reach the best possible price of $143.52 by the close of 2022.
The Sandbox (SAND)
As one of the best metaverse crypto projects out there, The Sandbox introduces blockchain technology to the gaming world.
By innovating a universe where there can be a creation and collection of blockchain-based assets, the Sandbox aims to revolutionise the gaming market. With the rise in the popularity and demand for non-fungible tokens and increment in development activity on its platform, the Sandbox will continue to see the creation and trading of more NFTs.
The result will be a spike in demand for its novel token, SAND.
SAND is one of the most patronised cryptocurrencies, seeing more than $10 billion in monthly trading volume. As meta-universe crypto, SAND reached an all-time high price of $8.44 on November 25, 2021, and continues to recover in the second quarter of 2022.
With that said, analysts, experts, and gurus at some of the most reputable crypto forecasting portals believe SAND could reach the maximum price of $8.50 by the end of 2022.
As an ERC 20 token on Ethereum, Decentraland is a virtual reality (VR) platform that allows users to create, experience, and monetise applications and content.
Decentraland grants users the ability to virtually buy, develop, and maintain properties. The largest virtual land sale, sold for around $913,000 in June 2021, happened on Decentraland. Heading deep into the metaverse, there is a huge chance that thousands of developers would opt for Decentraland to purchase plots of land, develop those virtual properties, and monetise them.
This is what has contributed to MANA being one of the most in-demand metaverse cryptocurrencies of 2022. As one of the most patronised virtual land cryptocurrencies, MANA continues to see more than $250 million as daily trading volume.
This confers positive reserve risk on MANA since its price is relatively smaller, but investor confidence in the asset remains high. Therefore, MANA could be considered an attractive investment with lots of hidden potential.
MANA reached an all-time high price of $5.90 on November 25, 2021. Experts think that the native asset of the Decentraland ecosystem could exchange hands at $4.42 by the year's end of 2022.
Launched on March 17, 2022, APE is the novel token of the ApeCoin ecosystem. APE was inspired by one of the most successful NFT projects called the Bored Ape Yacht Club (BAYC) and its sister project, the Mutant Ape Yacht Club (MAYC) by Yuga Labs.
In the not-too-distant future, APE will be used in several play-to-earn games lined up by the ApeCoin Foundation.
As of April 2022, APE can be used to earn rewards in the metaverse crypto game Benji Bananas. Aside from being a strong part of the metaverse, APE has also achieved mainstream attention with the support of the coin as a payment method by crypto casino BC.GAME.
What’s more, for the lovers of TIME Magazine, APE can be used by subscribers to pay for the magazine’s digital editions.
After reaching an all-time high price of $39.40 on the day of its launch, APE has been rated highly by several experts as one of the go-to metaverse crypto coins in 2022 and beyond. Forecasts from leading analysts in the crypto finance space say APE could reach a trading price of $26.82 by the end of 2022.
Founded in 2017 and launched in 2018, Enjin is one of the best metaverse crypto projects housed in the blockchain technology of Ethereum.
Enjin provides an ecosystem of blockchain-based gaming products that are interconnected. Game developers can tokenise in-game items on Ethereum. Its novel token, Enjin Coin (ENJ), serves as a utility token that can be used to buy, sell, and trade some of the in-game items at real-world value.
As one of the most demanded metaverse crypto coins, ENJ continues to see at least $88 million as daily volume.
This is why the coin is projected to reach at least $3 before the end of 2022. Overall, most of the best crypto metaverse projects are housed in the ecosystem of Ethereum.
This means that its native asset, Ether (ETH), is involved in swapping tokens for AXS, ENJ, MANA, and APE.
Author: Raphael Minter
Raphael Minter/ Albert Zuhnden (preferred pen name) is a crypto finance writer, data miner, and fundamental analyst. Raphael has written hundreds of articles about centralized and decentralized financial instruments such as precious metals, commodities, stocks, and cryptocurrencies. He broke into digital finance in 2016 and believes digital assets and blockchain technology is the future of finance.