Metaverse are virtual items formatted as NFTs and platforms where you can interact with other users. Some projects are using Blockchain technology for these platforms. Analyst Max Clark identifies metaverse coin projects to follow throughout the year.
8 metaverse coins to watch in 2023
Decentraland (MANA)
Decentraland is an Ethereum-based virtual reality platform. In Decentraland, users can create content and apps and monetize it. The project is led by Ari Meilich, who previously worked as Engineering Director at Consensys/Plasma Group.
In terms of trading, users pay you MANA for virtual lands. The plots are divided into squares of 16×16 square meters. These are then divided into smaller units called voxels, which resemble pixels on a computer screen. Each voxel has its own unique identification number. So you know exactly where it sits in your larger parcel of land (or “zone”).
Sandbox
Sandbox is a blockchain-based virtual world platform. It is designed to be an environment where users can create, host and monetize their own custom-built virtual worlds.
Sandbox uses Ethereum smart contracts to store data about transactions between virtual assets and users. You can think of it as similar to Second Life (the popular online game), but there are some key differences:
- A decentralized network instead of central servers;
- Reduced cost as no additional servers are needed;
- There are no fees associated with transferring funds between users;
Axie Infinity (AXS)
Axie Infinity is a game that revolves around collecting and fighting digital creatures called Axies. The game was created by the team behind Enjin Coin, which has gained momentum in recent years.
AXS, a metaverse coin, is built on Ethereum. It uses its own ERC-721 standard for its in-game items. Players can purchase these digital collectibles just like any other cryptocurrency.
Gala (GALA)
GALA is a cryptocurrency designed for the Metaverse Blockchain. It is also the only currency used to purchase land in the Decentraland virtual world. With GALA, you can experience new games prepared by other players or get to know your own game.
Enjin Coin (ENJ)
Enjin Coin is a blockchain project that aims to bring cryptocurrencies to the gaming world. It is also a cryptocurrency designed for online gaming, social networking and communities. The company’s mission is to empower game developers with a free suite of tools for managing virtual goods across multiple platforms and ecosystems. In addition, Enjin also offers a cryptocurrency wallet that supports Ethereum, Bitcoin, Litecoin and 1000+ coins/tokens.
The most important aspect of the ENJ ecosystem is their Smart Wallet, which allows users to store their cryptocurrencies on their personal devices rather than leaving them on an exchange or other place where they may be vulnerable to theft or hackers accessing without your consent (e.g. the case with centralized exchanges).
Aave is available right in the Enjin Dapp Browser, allowing you to link up and start earning $ENJ straight from the comfort of your Enjin Wallet app!
Get started ➡️ https://t.co/OiAE8z56gM#EnjinCoin #Aave #DeFi pic.twitter.com/qCZaTr1J5T
— Enjin (@enjin) July 16, 2020
Star Atlas (ATLAS)
Launched in September 2021, Star Atlas, an open world strategy game featuring political domination, space exploration, and territorial conquest, is a top-rated Metaverse crypto project based on Solana. Star Atlas is a highly anticipated project with one of the most supportive communities.
https://twitter.com/WeAreStarAtlas/status/1662486065725284353
Bloktopia (BLOCK)
Bloktopia is a Blockchain based game that lets you build your own city. You can buy land, build houses and invite your friends to join. The aim of this game is to create a new urban landscape where people can live in peace by sharing resources with each other.
Bloktopia uses Metaverse technology to manage its data and transactions between users. This means that all transactions are recorded on the Blockchain. So no one can tamper with them or delete them later (unless they have access to the private keys).
High Street (HIGH)
High Street is a blockchain-based ecosystem used to build and manage decentralized applications. It will also have its own cryptocurrency (HIGH) used for payments and rewards within the platform. The High Street platform includes a marketplace where users can buy and sell goods using HIGH tokens. The High Street website describes it as “the first crypto-to-crypto marketplace for everyday products.”
What is metaverse?
Metaverse are Blockchain-based platforms that aim to create an open ecosystem where digital assets, digital identities and smart contracts can be regulated, traded and exchanged in a decentralized manner. To achieve this goal, Metaverse has created its own cryptocurrency – ETP (ERC20).
These metaverse projects leverage Blockchain technology to create decentralized and immersive virtual worlds. The price increases of these projects play an important role in their adoption. As we quoted as Kriptokoin.com, most of these tokens are currently in a downtrend, waiting for new buyers.
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