3 Metaverse Cryptocurrencies You Should Consider Now
In the past few years, Metaverse has moved from being a social interaction tool to being a tool that can be used for work or other forms of entertainment and that will rekindle interest.
As a result, Metaverse cryptocurrencies continue to grow in importance in the cryptocurrency market and are of particular interest to investors. The Metaverse cryptocurrency is a digital currency combined with a decentralized virtual blockchain reality where everyone has a say in how things are done.
With internet giants like Meta Platforms Inc (formerly Facebook) looking to dominate the market, these Metaverse tokens are seen as a method to undermine their ambitions while taking the industry to new heights.
Anyone and anything can exist in virtual reality (VR) and do what they want. Meta understands this and positions itself as the dominant force in the rapidly developing new front of digital media. The company’s decision to rename itself Meta is like a test bed for the company’s upcoming Metaverse attack plan.
Make no mistake – Meta / Facebook with Diem and the Metaverse Experience is a way to bring billions of people into this world of distributed ledger technology.
Acceptance is like this: It may not be what you want, but it comes by itself. Again, we have a choice of whether to participate or not. This is very different from the physical world. Your opinion on Meta only depends on where you communicate. “
However, there are many who don’t want this controversial company to break into a field valued by consumers for its freedom. Meta’s rules and algorithms still apply in their metaverse, and many people prefer their own rules and freedom of expression.
The decentralized metaverse on the blockchain enables users to do just that. Users can self-regulate and use the idea of decentralized digitization to fund their own digital economy, which often translates into real benefits. Here are 3 of the most popular Metaverse cryptocurrencies available.
Decentralized Land (MANA)
Decentraland is a popular virtual environment for individuals looking to combine blockchain with digital socialization. A virtual economy powered by the MANA token generates real passive income for its users.
Users create an avatar and can do almost anything they want. You can socialize, play games or go to virtual casinos. Recently the network has started organizing large virtual music events, starting with Metaverse Festival.
Users can make and spend money on Decentraland. Such as real estate, real estate business network. Users can request specific mapped properties in Metaverse and develop them at will. These lots can be sold on request. In addition to the land price difference, building owners can benefit from the sale of irreplaceable aesthetic products on the Decentraland marketplace for MANA.
Thanks to the existing virtual community, Decentraland has an advantage over other digital companies to benefit from Metaverse. The platform went into operation in 2015, was converted to 3D in 2017 and has been continuously expanded since then. Developing based on the structure and funding from the early investors has helped Decentraland unlock important opportunities.
MANA is currently trading at $ 2.73, down 4.2% over the last 24 hours and 7 days on a market cap of just over $ 3.6 billion. In particular, the price rose from $ 0.8 last month to $ 4.69 ATH on October 31st before cooling off.
MANA price table | Source: Tradingview
Enjin coin (ENJ)
Enjin has an ambitious vision to support initiatives within its ecosystem to create a decentralized metaverse.
As a result, the blockchain gaming platform announced the creation of a $ 100 million Efinity Metaverse Fund on November 4th. The foundation was established with the main goal of supporting partners in the ecosystem and promoting the creation of a decentralized metaverse. Together with Polkadot, Enjin created a blockchain network for NFTs.
In particular, the fund will help NFT project development firms work together on Efinity, and Polkadot will include assets that can be used across a number of protocols and chains.
As part of its funding strategy, Enjin intends to invest in game projects across all platforms as well as protocols in related areas such as Mixed Reality (MR) – end-to-end experiences combining elements of Augmented Reality (AR) and VR, eSports and immersive entertainment as well virtual events, …
Currently, ENJ is trading at $ 3.19, down more than 5% in 24 hours and up 25% in 7 days, for a total market cap of $ 2.99 billion.
ENJ Price Chart | Source: Tradingview
The sandpit (SAND)
Currently, The Sandbox (SAND) ranks third highest among Metaverse tokens. Virtual worlds can be created in The Sandbox as well as in Decentraland, where developers can create games and sell products and use the platform to connect and have fun with others.
The Sandbox users can get the most of the experience by buying and developing land, just like they can with Decentraland. Real estate can be used for any purpose. Both private individuals and companies can own land. It is possible to generate actual income through the marketplace with SAND like MANA.
An impressive list of sponsors from a variety of pop culture areas helps grow the platform by encouraging followers to engage with it. The Walking Dead and The Smurfs are popular TV and movie brands that partnered with The Sandbox to promote the game, including singers Snoop Dogg and Deadmau5.
One of the most compelling arguments for the SAND bull is not just the direct sponsorship deals the team has signed, but also the significant investments in the network that build trust. The Japanese SoftBank Group invested $ 93 million in the network.
This stream of funding gives The Sandbox the ability to accelerate expansion enough to outperform Decentraland and become the largest Metaverse network. Currently, Decentraland’s MANA has a market value of $ 3.6 billion while SAND has a market capitalization of $ 2.26 billion.
At the time of writing, SAND is trading at $ 2.54, down nearly 6% in the past 24 hours and 62.4% just last week.
SAND Price Chart | Source: Tradingview
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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.