The word “metaverse” seems to be everywhere these days, from the news to social media to dinner conversations. Even though the technology isn’t very popular yet, tech and crypto investors are quickly becoming interested in it. So, metaverse coins are a chance for 2022 that hasn’t been taken yet.
It also helps that Meta, one of the world’s biggest tech companies, is betting on the metaverse and even changed its name from Facebook to reflect this. In 2021, the company spent $10 billion on its metaverse project, which it called the future of technology. In this journey, cryptocurrencies and the blockchain will be very important.
It’s important to remember that the cryptocurrency market is always changing, and something that’s doing well today could drop in value tomorrow. Never put in more money than you can afford to lose.
So, what does metaverse have to do with digital currencies? Just what is the metaverse? Plus, which tokens of the metaverse should you buy? Here’s what you need to know about the metaverse and how to choose the best coins to invest in.
The best Metaverse coins to buy are:
The good news is that coin prices are low because metaverse projects are still pretty new. In many cases, they are well under $1 and in some, they are even less than 1 cent. This makes it possible for almost anyone to invest. Still, that doesn’t mean that every project is worth your money.
In fact, experts in the field told CNBC that the current bear market is likely to shake out the “bad actors,” or developers who have been more interested in making money than in building their projects.
It’s best to buy metaverse coins that have shown promise through performance, usefulness, or strong financial backing, or all three. Here are some coins in the metaverse that look good for 2022.
- Umetaworld (UMW)
UMW is a BSC token, which has stayed under the radar for quite sometime, in comparison with most alternatives we believe it has a lot of potential, being that their Metaverse is already live and working and available on the Google Play and Applestore.
Since it launched during the Bear market it allows to buy at the lowest prices, since it is very hard to enter at the bottoms, this one is a no brainer.
The project is constantly improving and the team doesn’t rely on investors funds for further development, really curious to see the pace in which they will evolve once the bull run begins. We are keeping a close eye on this one.
We do expect the highest returns in comparison to the others as they are the lowest cap project available in this list and have nothing to envy from the competition.
- Sandbox (SAND)
The performance of the crypto metaverse project The Sandbox has been very good. The platform’s native token, SAND, was always going up during 2021. In the last quarter of 2021, it finally crossed the $1 mark and kept going up to $8.40 last November.
Since then, however, the price has dropped like most, if not all, cryptocurrencies. It is now worth $1.32, up about 63% from its June low.
With a VR component, this project brings the idea of the metaverse to life. The Sandbox is basically a game, and game companies like Atari are behind it, which could help it get through the current bear market. Also, Lionsgate recently teamed up with The Sandbox to make a “Hellboy”-themed metaverse destination. Tony Hawk said he will build a skateboard park there, which was reported by Deadline.
Sandbox has a lot to do with making and trading NFTs. With SAND metaverse tokens, players can make NFTs.
This project is based on Ethereum, just like a lot of other cryptocurrency projects.
Another good thing is that there are only 3 billion tokens available, of which only 1.26 billion are in use. As of August 12, its market value is $1.7 billion.
- Decentraland (MANA)
Decentraland is a crypto metaverse project that has been in the news a lot because it is popular. This was partly because of the NFT craze, which also helped the platform’s native token, MANA, gain a lot of value.
Many NFT owners started showing off their NFTs on the platform. This metaverse platform has more than just NFTs, though. The main thing about it is that you can buy virtual land and make virtual games and other digital assets.
Sotheby’s, which sells expensive goods and art, bought a piece of land in Decentraland and built a copy of its London offices there. This shows that big companies are also interested in metaverse projects.
Decentraland was made in 2017, so it is one of the older projects that has taken a while to get noticed. Even though MANA hasn’t done very well, its market cap is an impressive $1.9 billion as of August 12. This makes it the second-largest metaverse token by market cap.
MANA has gone down a lot since the start of the year, but it’s up 31% from a year ago.
- Highstreet (HIGH)
Highstreet is an interesting metaverse project that works with virtual reality and has potential, at least for metaverse uses. One thing is that you can buy things in this virtual world with the currency HIGH. Some stores that use Shopify are already built into the platform.
It has games and is interested in NFTs, so it seems to be up to date on tech and crypto trends. Also, HIGH can now be bought and sold on Coinbase.
From the real world, or meta world in this case, this project already does what the metaverse technology promises to do. If you’re an investor who looks at how useful something is, this could be a good choice.
HTC, a tech company, is behind the project, and in August 2021, $5 million was raised for it. As of August 2022, its market value is over $24.9 million.
- Floki Inu (FLOKI)
Yes, Floki Inu is yet another cryptocurrency based on a dog meme, but it has a chance of being a good metaverse crypto, especially for people who want undervalued cryptos. The currency is called Shiba Inu because that is the name of Elon Musk’s dog, which is also the name of another cryptocurrency project.
On its website, the project says it wants to mix memes with real-world use cases. It also says that it will release a game, an NFT marketplace, a content and education platform, and a platform for selling NFTs. Even though this project is still in the works, people have still bought FLOKI tokens.
As of August 12, Floki Inu has a market value of $141.31 million and sells for $0.000015.
- Metahero (HERO)
Metahero is a new metaverse project that uses 3D scanning to make high-definition avatars of people and things from the real world. The company has even set up a scanning chamber in Doha that can scan objects and turn them into digital 3D versions for the Metahero universe.
Wolf Studio is working with Metahero to make this happen. As of August 2022, HERO, the cryptocurrency’s native token, had a market cap of $44.3 million. Even though that is less than some of the other tokens on this list, that is because the project is so new.
Metahero’s performance so far this year is -43%, which isn’t too bad compared to other alt-currencies, even though many on this list have gone up in the last month. The work that CEO Rob Gryn has done with his other meta project, Everdone, in the past month could also help Metahero.
- Terra Virtua Kolect (TVK)
Terra Virtua Kolect is a project that started in 2017, before there were any NFTs. But now, NFTs are all that matter in a virtual world. With the native token TVK, you can make, sell, and buy NFTs from other members.
Since this project is based on NFTs, and NFT investments are on the rise, it has a huge amount of potential. CoinMarketCap says that the platform can be used on the web, on a PC, and in augmented reality/virtual reality environments.
Terra Virtua just added the Cardano blockchain to its marketplace to make it more environmentally friendly. NFT Evening said that it had already added Polygon, the first carbon-positive blockchain.
The market value of TVK is now over $40.98 million, and its performance so far this year is -70.8%, which is better than last month. But new partnerships, like the one it just made with the NFT game Kawaii Islands, could bring in enough users to make it work in the long run.
- Star Atlas (ATLAS)
Star Atlas is a project in the metaverse that is based on a game with beautiful graphics. The game takes place in the future, in the year 2620, and players can take over land and gather resources in a very futuristic setting.
The metaverse just made a deal with iBuyPower, a PC maker that will provide the hardware for Star Atlas. This is expected to bring in more players to the game.
The metaverse token, called ATLAS, is used in the game. It is earned by playing the game. Think of it as a normal reward-based game where you play and do things to earn coins. In this case, though, the rewards could lead to gains.
The game is built on Solana, which means it has low transaction fees compared to projects built on Ethereum. It is worth $16.9 million on the market, and each coin is worth $0.0078.
- Enjin (ENJ)
Metaverse coins are common in games, and Enjin is no different. It’s a metaverse-style gaming environment where you can “mine” the local token, ENJ, which you can then use to buy assets that will help you move forward in the game.
ENJ can be used to buy anything in the game, from medicine to upgrades for your character. So it’s also similar to a market.
Enjin is built on the Ethereum blockchain and has a market cap of $621,7 million. Enjin just put up the first NFT parachain on Polkadot. This made more than 100 games and apps available.
Enjin started beta testing its Enjin Wallet 2.0 in May, when it reached 500,000 wallets. Each wallet represents a user.
- Epik Prime (EPIK)
Epik Prime is a project in the metaverse that is now all about NFTs. On PancakeSwap, Hotcoin Global, KuCoin, and Huobi Global, you can buy and sell EPIK. According to CoinMarketCap, Epik has more than 300 gaming clients and licenses NFT collectibles and experiences to companies like Warner Music and Universal. This means that after a few months of falling prices, it is likely to rise again.
Last year, EPIK came out, and its market cap is $4.9 million. This is by far the smallest coin on this list, but big companies are finding ways to use it.
How do Metaverse Coins work?
Metaverse is the technology behind a virtual universe where people can shop, play games, buy and sell currencies and objects, and more. Think of it as a mix of augmented reality, virtual reality, social media, gaming, and cryptocurrencies.
Cryptocurrencies will be used as money in the metaverse. This is based on the idea of a blockchain. This is where “metaverse coins,” “metaverse tokens,” and “metaverse crypto” get their names. Every metaverse project has its own tokens, which are used to do business in that environment.
Current Projects in the Metaverse
There are already a lot of metaverse projects going on, and you can buy their tokens. Some of them are even listed on coin exchanges. Investors and crypto fans are looking at these projects because they show promise.
Macro, a U.K.-based research firm, says that in 2021, metaverse coins will have grown more than three times as much as bitcoin. At the same time, bitcoin, which has the most market value, went up by 100%.
Metaverse projects range from virtual games to marketplaces for non-fungible tokens. Each one has a different idea and some real-world uses.
Metaverse projects are popping up everywhere, but some of them have real promise and stand out from the rest. The idea of the metaverse is deeply rooted in blockchain and cryptocurrency, which is why it might be a good idea to invest in some of these projects. Also, there seems to be more and more talk about NFT.
But, as with any other investment, don’t put all your money on one type of metaverse coin, and don’t invest money you can’t afford to lose. Diversify your investments, and most importantly, buy coins you think will do well.