Backed by VR technology developers HQSoftware, iTechArt, Innowise and Meta, Oculus plans to make radical changes in people’s work and daily lives. What artificial intelligence models like Chatgpt can bring to this field is close to limitless. In this article, let’s take a look at the 2023 predictions for metaverse coins that can make a difference in the crypto money market with the developing VR technology.
Could Metaverse coins switch to BTC and ETH in the 2023 bull?
Metaverse coins, whose largest volumes are SAND and MANA, have managed to outperform Bitcoin and Ethereum over the past year. For example, Decentraland (MANA) gained nearly 150% in January alone.
Decentraland is a digital game that simulates reality in three dimensions. The 3D, user-owned, Ethereum-based virtual reality world platform or open world metaverse is a combination of virtual reality, augmented reality, and the internet. MANA, the cryptocurrency of the Metaverse, peaked at $5.90 last year. It is currently trading at 85% discount from this level.
Sandbox
Another successful example is Sandbox, software running on Ethereum that operates a decentralized virtual game world. Sandbox, at its core, is a game where players can purchase digital lands called LANDs and create experiences on them to share with other users. As such, The Sandbox is a model of a Blockchain-based metaverse in the same vein as Decentraland.
The native token SAND gained 92% in January alone. It is currently trading at a discount of more than 90% from its $8.44 ATH.
Axie Infinity (AXS)
Another example is Axie Infinity, an online game universe revolving around Pokémon-like creatures known as Axies. What makes Axie Infinity different from other online games is the synergy it creates between standard online gaming and blockchain. The Ethereum-based game uses a design that allows players to own their virtual assets and rewards players who can reach an advanced level of skill. Thanks to this feature, it attracted global attention from global players in 2021.
AXS is currently in the green 5% over the last 24 hours, trading at $11.81. It climbed as high as $165.37 at one point last year. As of February, it is trading at 95% discount from this level.
ApeCoin (APE)
Finally, ApeCoin is a cryptocurrency inspired by one of the famous and valuable NFT collections, the Bored Ape Yacht Club, aiming to support the development of Web3. APE was built on Ethereum and captured strong hype when it was first released. Although it fell 85% from ATH through 2022, it managed to recover somewhat in January. As you can see from the cryptokoin.com data, it is trading at $5.89 as of February 5.
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