Metaverse coins are cryptocurrencies released by blockchain-based platforms to support virtual universes. These coins continue to be among the popular investment tools after the metaverse universe, namely virtual reality, has been integrated into daily life.
Considered as an alternative to the real world, the metaverse has been on the agenda of the technology world, especially after Facebook changed its name to Meta at the end of 2021 and increased its investments in the metaverse.
Metaverse can be defined simply as virtual worlds. But these virtual worlds allow people to interact with each other and with various services online. In this respect, the metaverse can be thought of as a virtual alternative to the real world. With the development of Metaverse projects, Metaverse coins and Metaverse tokens have also begun to form.
Blockchain-based metaverse platforms are launching various cryptocurrencies to support these virtual universes they have established. These cryptocurrencies issued by metaverse platforms are referred to as metaverse coins or metaverse tokens.
Metaverse coin can be used for trading on the respective platform, especially NFTs that give ownership of items to users. Also, some metaverse coins function as governance tokens.
Top 5 Metaverse Coins
Metaverse coins can be used for transactions such as owning assets in the virtual world, making payments or playing games. It can also be an investment tool for those who want to invest in assets in the virtual world. The main advantages of Mateverse coins can be listed as follows:
- It can be used for payments in the virtual world.
- It can be used for products and services that can be purchased in the virtual world.
- It can be used to own assets in the virtual world.
- It can be used for games and applications that take place in the virtual world.
- Its value may vary in relation to the assets and activities taking place in the virtual world.
There are many websites where current developments about Metaverse coins can be followed. Among them is CoinGecko, which provides reliable and accurate information. CG lists metaverse coin data as a separate category. Accordingly, the top 5 metaverse coins in terms of market cap are listed as follows:
1. Internet Computer (ICP)
The Internet Computer (ICP) is a blockchain-based decentralized network that aims to provide an “unlimited” environment for smart contracts and other decentralized applications to run at web speed. Started by Switzerland-based cryptography foundation DFINITY, Internet Computer provides significant infrastructure upgrades that could potentially solve the scaling problems of other blockchain networks such as Ethereum.
ICP is designed to scale smart contract and data computing, run them at web speed, and process and store data securely, efficiently. It has created software frameworks to make it easy for developers to use as well. Internet Computer aims to revolutionize tokenized Internet services, supporting decentralized financial systems, and perhaps even traditional corporate systems and websites.
While there is a supply of 280 million ICP coins in circulation, there is a total supply of 494 million ICPs. The Internet Computer token peak ATH price was measured at 700.65 USD on May 10, 2021. The lowest ATL price for ICP coin is $3.40 USD on December 19, 2022.
Exchanges where ICP can be purchased include Binance, Paribu, Bitexen, KuCoin, Coinbase Exchange, Kraken, Bitfinex, OKX, Bybit, Gate.io, Huobi.
The current price of Internet Computer token is as follows:
Internet Computer (ICP)
2. Axie Infinity (AXS)
Axie Infinity (AXS) is a blockchain-based, Pokemon inspired game built on Ethereum. Each of the animals named Axie, the protagonist of the game, is an ERC-721 based NFT. Each has its own unique value in the game. It is not directly interchangeable with another Axie. There are more than 500 varieties of Axies that can take many forms. AXS is a governance token created for the Axie Infinity game. Players can fight for the Axies, collect items, upgrade them and build a land-based kingdom.
All game data and Axie genetic data are easily accessible to third parties, allowing community developers to build their own tools and experiences in the Axie Infinity universe. Axie Infinity is described as a blockchain-based trading and war game partially owned and operated by its players.
There is a supply of 110 million AXS coins in circulation, with a total supply of 270 million Axie Infinity. AXS highest ATH price is 164.90 USD on November 6, 2021. AXS lowest ATL price was recorded as 0.12 USD on November 6, 2020.
Among the exchanges where AXS coin is involved are Binance, BtcTurk, Paribu, OKX, Bybit, Kraken, Bitstamp.
The current price of Axie Infinity is as follows:
Axie Infinity (AXS)
3. Decentraland (MANA)
Decentraland is a virtual world and community based on blockchain technology. Users develop and own plots, artworks and Unique Tokens (NFTs). Members also become participants in the platform’s Decentralized Autonomous Organization (DAO). Being a DAO, Decentraland empowers its community to participate in the governance of the project. Decentraland’s native currency is MANA and all in-game assets are on the Ethereum blockchain.
Since MANA is an ERC-20 token, you can store it in any Ethereum compatible wallet. Another option is to use a hardware wallet like Trezor or Ledger to stay safe. Also, if you want to interact with Decentraland smart contracts, you can opt for wallets like Metamask, MyEtherWallet or MyCrypto.
While there is a supply of 1.8 billion MANA coins in circulation, there is a total supply of 2.1 billion MANA. The highest ATH price for MANA coin was recorded on November 25, 2021 at USD 5.85. The minimum ATL price for MANA is 0.009 USD on October 31, 2017.
Cryptocurrency exchanges that can be purchased Decentraland include Binance, Paribu, BtcTurk, Coinbase Exchange, Kraken, KuCoin, BitFinex, Gemini, Bittrex.
The current price of MANA coin is as follows:
Decentraland (MANA)
4. The Sandbox
The Sandbox is a decentralized metaverse game project founded in 2011. Arthur Madrid and Sebastien Borget are the names behind The Sandbox project, created by the Pixowl company. Aiming to integrate blockchain technology into the game world, The Sandbox is a decentralized virtual world managed by users. The Sandbox is a gaming ecosystem where users can create, share and monetize assets and gaming experiences. It is also described as an Ethereum-based metadata warehouse.
There is a supply of 1.6 billion pieces of The Sandbox in circulation, with a total supply of 3 billion pieces of SAND. The highest ATH price of SAND coin is 8.40 USD on 25 November 2021. Sandbox lowest ATL price was recorded as 0.02 on November 4, 2020.
Among the exchanges where SAND coins can be purchased are Binance, Paribu, Binance TR, BtcTurk, Gate.io, Kraken, Coinbase Exchange, Bitfinex.
The current price of The Sandbox is as follows:
The Sandbox (SAND)
5. Enjin Coin (ENJ)
ENJ was created by Vitek Radomski, co-founder of Enjin company. Although the company was founded in 2009, ENJ was launched in 2017 and launched in 2018. ENJ is a product of the Enjin Network running on the Ethereum infrastructure.
Enjin is a social gaming platform that offers users websites, in-game items and virtual stores where they can trade these items. Enjin aims to provide a unique experience for software developers and gamers by combining its experience in the game industry with blockchain.
There is a total supply of 1 billion Enjin coins, and the entire supply is in circulation. The ENJ highest ATH price was $4.82 USD on November 25, 2021. The ENJ lowest ATL price was recorded as 0.01 USD on 12 November 2017.
Exchanges where ENJ coin is located include Binance, BtcTurk, Paribu, Kraken, Bitfinex, KuCoin, Bitstamp, Bithumb.
The current price of Enjin Coin is as follows:
Enjin Coin (ENJ)
The data and crypto assets are compiled from among CoinGecko’s best-ranked by market cap in their respective category.
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