7 Metaverse Coins to Invest
If non-fungible tokens (NFTs) aren’t your thing, but you’re still searching for a hot 2021 blockchain bet, try venturing into the virtual realm. The floodgates have opened, and investors are now looking for the finest metaverse cryptos to invest in. Before the leaders of the young sector emerge, there is still a long way to go. There are, however, a few moves that are making strong arguments for themselves as possible metaverse monoliths.
Facebook has been renamed as Meta Platforms. While it is still fighting an uphill PR battle as a result of the transformation, it has done a good job of drawing investor attention to the metaverse as an industrial area.
The metaverse, like anything else, has its critics. Barron’s magazine quoted a Jefferies analyst as saying that non-fungible tokens (NFTs) might reach $25 billion in the near future. According to Barron, the current state of finance is “strange.” According to the Wall Street Journal, the virtual world will have its own set of issues.
Virtual world merchandising will be necessary, and while just a few businesses, such as Facebook and Microsoft (NASDAQ: MSFT), offer it, others, such as Apple (NASDAQ: AAPL), are rushing to catch up.
Just remember that everything here is very speculative and not for the faint of heart. Furthermore, none of these cryptos come highly recommended by me. Investors should assess their specific investing position to see if the volatility risks, if any, are worth the possible returns.
Let’s take a closer look at these metaverse cryptos.
Metaverse Coins
- Decentraland (CCC: MANA-USD)
Market Cap: $4.5 billion
Decentraland (CCC: ETH-USD) is a virtual reality game or, more accurately, a virtual living platform driven by cryptocurrency. You may buy land, costumes, scenery, and a variety of other virtual goods with MANA tokens. Some of them can appreciate in value over time, and you can then sell them to others, thereby creating an alternate world. It is, in effect, a “universe controlled by users.”
After spending a lengthy period below $1.00, MANA tokens are suddenly selling for $2.50. The shift by Facebook to virtual reality has inspired a lot of interest in this cryptocurrency and the reality it represents. The site just hosted the first-ever Metaverse Festival from October 21 to October 2.
In Decentraland, everything is separated into LAND pieces. Some plots are subdivided into themed neighborhoods or districts. They share similar interests and goals.
Decentraland is still in the early stages of development and is constantly evolving. The rising interest and popularity of the Decentraland virtual environment are reflected in the value of MANA tokens.
- The Sandbox (CCC:SAND-USD)
Market Cap: $2.2 billion
Another virtual environment where players may “create, own, and commercialize their game experiences” is the Sandbox. It is a user-controlled virtual metaverse. NFTs are used to track asset ownership in the game (non-fungible tokens).
In 2018, Animoca Brands (headquartered in Hong Kong) purchased the game and transformed it into an Ethereum-based blockchain game where users could monetize their in-game creations.
Softbank’s Vision Fund 2 led a group of investors that committed $93 million into the gaming platform, according to Reuters. This came after the platform’s monthly active users surpassed $144 million in transaction volume.
According to Venturebeat, Arthur Madrid, CEO of The Sandbox, claimed this will expand the company’s reach beyond games into fashion, architecture, virtual concerts and performances, art galleries, museums, and more.
To further its appeal, the site has teamed with celebrities. Snoop Dogg, for example, created a digital recreation of his property on the site.
- Floki-Inu (CCC:FLOKI-USD)
Market Cap: $2.2 billion
The name Floki Inu was created as a joke based on Elon Musk’s Shiba dog, Floki. However, since then, the business has developed a virtual panoply of cryptos, as well as a university and a game based on an alternate world.
“Meme coins” are known for their cryptography. That is to say, it is a crypto that has no meaning, purpose, or raison d’être. Its objective is to profit from a frenzy.
However, the backers of Floki crypto have lately begun giving fans a sneak glimpse at the future NFT-based metaverse game. Vahalla is the name of the game. Elon Musk, of course, would be one of the universe’s in-game characters.
The meme currency will launch a television advertising campaign in the first week of December that will go through Christmas. The goal of the marketing campaign is to persuade consumers to acquire Floki tokens instead of Dogecoin (CCC: DOGE-USD).
In fact, the suggested hook is that this cryptocurrency will appreciate in value similarly to Dogecoin. According to Coinmarketcap.com, Dogecoin currently has a market cap of $34.5 billion, making it the ninth biggest cryptocurrency. If this were to happen, the FLOKI crypto price would be nearly 15 times more than it is now (market capitalization of $34.5 billion/$2.2 billion).
Obviously, there is no certainty that this will happen, thus this coin is still considered highly speculative. The supporting team, on the other hand, appears to have a well-thought-out marketing strategy in place to provide FLOKI actual value.
- Efinity Token (CCC:EFI-USD)
Market Cap: $86 million
Efinity is a “next-generation blockchain for NFTs,” according to its website. Because it is a scalable, decentralized, cross-chain network, it is considered next-generation. It is a parachain firm built on the Polkadot (CCC: DOT-USD) blockchain network, with just $500 million in trade volume as of March 2021.
Efinity promises to be one-of-a-kind in three ways. To begin, any NFT from any site can migrate to Efinity’s marketplace. In addition, the unfulfilled NFT order with the highest value might win token awards.
Second, Efinity uses a new blockchain technology called Recipes to allow businesses to reward their loyal users/customers. Anyone may alter or develop current or new NFTs using recipes. The distinctive characteristic is that none of this can be done without code.
Finally, its governance allows anybody who joins the network to propose and vote on modifications. 7 Superstocks That Have Returned Over 10,000% in 30 Years
- Terra Virtua Kolect (CCC:TVK-USD)
Market Cap: $202 million
Terra Virtua, a “completely immersive, blockchain-driven VR entertainment experience,” was founded in London in 2016 by two entrepreneurs. It began as a blockchain game and has now expanded to include a marketplace for digital art and collectible NFTs, as well as a gameplay environment and a token known as the Terra Virtua Kolect token.
But it’s a recent venture into partnering with Hollywood studios that have made it famous. Paramount Pictures and Legendary Entertainment have signed arrangements with Terra Virtua. On their platform, they will license some of their most popular films and brands.
On its NFT marketplace, the company claims to have 120 designers, engineers, 3D modelers, illustrators, and developers at work. It also claims to have over 30 million mobile game downloads through its website and app.
The company’s TVK coins are now available on Binance, which could help it gain traction in the long run.
- Epik Prime (CCC:EPIK-USD)
Market Cap: $49 million
In 2018, Epik Prime began manufacturing “premium digital things.” These digital objects, according to the researchers, are the “future of consumer products” and will “play a fundamental part in ownership.” The firm claims to be the world’s first to introduce brands into video games and to create unique in-game merchandise, events, and experiences.
In August 2021, the company’s token was introduced in collaboration with Huobi Global and its Huobi Prime program. According to Cointelegraph.com, it’s a program that introduces cryptocurrency traders to new, cutting-edge tokens. Huobi has finished due diligence on the firm and its new token listing as part of the program.
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Epik stands out from other metaverse cryptocurrencies since it focuses on assisting gaming firms in the creation of NFTs and in-game collectible assets. It recently secured a partnership as the gaming company’s NFT technology solutions partner with Ready Games, a “no-code” game developer.
- Highstreet (CCC:HIGH-USD)
Market Cap: $69 million
Highstreet is a blockchain gaming startup featuring an MMORPG (massively-multiplayer online role-playing game) in which players fight monsters and accomplish quests. It’s also launching a new form of NFT marketplace in which “physical objects are sold as nonfungible tokens, or NFTs, in a completely open phygital experience.”
This firm just received a $5 million funding round from both Binance Labs and Animoca Brands (see The Sandbox above).
Highstreet will be integrated with the Binance NFT Marketplace, according to Binance. This is Binance’s NFT marketplace, where you may purchase and sell NFTs.
Given its early investment round, this NFT metaverse coin is obviously more speculative, thus investors should proceed with care.
Conclusion
These seven metaverse cryptos are riding a wave of interest in non-fungible tokens, metaverse assets, and second and third-generation crypto assets. Because some of these companies are tiny, investors should proceed with care and do due research before investing in any of them.
