There are hundreds of Metaverse coins on the market and it can be difficult for new traders and investors to figure out which one is the real deal. In this article, we, as Kriptokoin.com, examine the top five most valuable Metaverse coin projects in the market, ranked from the lowest to the highest by current market cap.
Metaverse coin projects under the spotlight
Stacks (STX). 1.6 billion dollars. Launched in November 2019, Stacks (STX) is a platform that combines the Bitcoin network with the latest crypto trends such as DeFi, smart contracts, and NFTs. The mission of the project is to create a better user-owned internet that unlocks the full potential of Bitcoin. It is known that Bitcoin is the most tested network and there is a better way than connecting to this network via layer 1 blockchain which brings decentralized applications and smart contracts to the network. Stacks offers the first consensus algorithm that runs between two blockchains and includes dozens of dApps, from DeFi platforms, NFT marketplaces, social media apps, and more.
STX uses a mechanism called Proof of Transfer, which is a unique consensus algorithm that can connect Bitcoin and the Stacks blockchain. Using Proof of Transfer, Stacks brings DeFi and NFT technology to Bitcoin’s blockchain. The native service presence on the platform is STX, which powers the Stacks ecosystem and allows users to mine and stake their assets. The primary benefit for STX is nurturing and executing smart contracts on the blockchain.
Theta Network (THETA)
is valued at $2.7 billion. Launched in 2018, Theta Network (THETA) is currently the NFT release platform with unique and authenticated NFTs. Theta’s platform includes NFTs from world-class icons like Katy Perry and top-rated shows like The Price Is Right. While Theta Network is seen as an NFT marketplace, it’s much more than that. Theta has a streaming platform that allows users to earn TFUEL tokens by watching streams and participating in its ecosystem. Theta’s streaming platform improves the quality of traditional content delivery networks using blockchain technology.
Additionally, THETA includes the TNT-20 token standard, which allows companies and brands to launch their tokens on the platform. TNT-20 is similar to the popular BEP-20 and ERC-20 token standards used by most cryptocurrencies released in 2022. THETA token is the native utility asset on the network that allows users to gain exclusive access to various drops and purchase the latest NFTs on the platform.
Axie Infinity (AXS)
is valued at $2.9 billion. Released in March 2018, Axie Infinity is one of the most popular Metaverse NFT-based play-to-win games on the market. It is a pioneer in blockchain gaming and one of the first platforms to allow players to earn a living wage by playing the game. The game revolves around users collecting monster NFTs called Axies. Users can upgrade their AXS and increase their attributes, enter battles, complete quests and trade them in the market.
All in-game assets for Axie Infinity are tokenized, giving players full ownership. To start playing, users must purchase an Axie from the market. Axie Infinity has superficially set up a separate chain (Ronin) and decentralized exchange (Katana) for Axie to fit its huge player base. The Axie Infinity ecosystem consists of Smooth Love Potion (SLP) and AXS. AXS is the primary governance token and SLP is the primary utility asset that allows users to upgrade their Axis and interact with various aspects of the game.
The Sandbox (SAND)
is valued at $3.3 billion. Launching Alpha in December 2021, The Sandbox is one of the most anticipated games in crypto. It is the second most valuable token in the market and the most traded Metaverse cryptocurrency. Sandbox features an immersive RPG style Metaverse built with the Unity game engine. Considered the main competitor of Decentraland, with one difference, The Sandbox has a desktop client while Decentraland is an in-browser experience.
Sandbox also has a highly active LAND market with a solid collection on OpenSea. The current base price for a LAND plot in The Sandbox is 2.86ETH (approximately $7.6k at the time of this writing). Over $400 million of virtual real estate has been sold on The Sandbox, speaking to the size of its ecosystem. Sandbox recently launched Alpha season 2, which users can check out right now. You don’t have to complete the various missions in the game, while the alpha pass gives access to more experiences. Users can bet to win prizes, purchase various items, access special events and more.
Leading metaverse coin Decentraland (MANA)
$4.2 billion. Launched in February 2020, Decentraland is the most valuable Metaverse coin and the leader for all Metaverse coins. It has the most popular LAND market and the most users of all the platforms on this list. Decentraland is easily accessible via a browser and is 100% free for all players. There are no passes for users to purchase, and all experiences are open for players to explore. Decentraland has dozens of places where users can start earning rewards through the popular play-to-win system.
Decentraland’s Metaverse also has the most popular virtual casino built by Decentral Games. Many consider the Decentral Games casino to be the Metaverse killer app as it has managed to raise over $7.5 million in the last three months. Decentraland also has the most popular LAND market on OpenSea, with the current base price of 3,689 ETH (about $9.8k) for a plot. MANA is the primary utility presence on the platform, enabling users to purchase wearable NFTs, access various events and more.
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