Metaverse Crypto to Invest in 2022

Metaverse Crypto

Metaverse projects on the blockchain network are backed by fungible tokens – tokens that are divisible and can be exchanged with each other. These metaverse crypto tokens are used to purchase digital assets such as virtual land or avatar clothing. They can also be traded for other cryptocurrencies or fiat currencies. Certain metaverse cryptocurrencies also allow their owners to vote on decisions within a metaverse platform, such as where they should invest or which new features should be released first.

Theoretically, as the value of digital assets rise, so will the value of their associated tokens. Furthermore, some metaverse platforms like Decentraland burn all MANA tokens used to purchase digital assets, removing them permanently from circulation and increasing the value of the remaining tokens.

Below are metaverse tokens listed in descending order by size of market capitalization (market cap). These options are inherently risky and should be considered a speculative investment. As a general rule, it’s advisable to never invest more than you are willing to lose.

Decentraland (MANA) – With a market cap of about $6 billion at the time of writing, Decentraland’s MANA token powers the Decentraland metaverse and is used as a medium of exchange on the platform’s marketplace.

The Sandbox (SAND) – The Sandbox is focused on a metaverse of user-generated content, much like Roblox. The SAND token is awarded to individuals who participate in The Sandbox’s alpha user testing. SAND tokens can also be purchased on digital exchanges. SAND is a utility, governance and staking token. Owners of SAND can use it to purchase digital goods and services, vote on proposed initiatives within The Sandbox and stake their SAND to earn further rewards.

Axie Infinity (AXS) – Unlike Decentraland’s MANA, which is used to purchase digital goods and services, Axie Infinity’s AXS token is a governance token. Those who own AXS will be able to vote on proposed decisions that will affect the Axie Infinity ecosystem, including how funds in the community treasury are spent. There are future plans to modify the AXS token so that it can be used to purchase digital goods and services on Axie Infinity.

Enjin Coin (ENJ) – Enjin is a blockchain gaming company. Unlike The Sandbox or Axie Infinity, which offer only a single metaverse product, Enjin offers its users a host of interconnected play-to-earn gaming experiences. Enjin is unique in that its native token, ENJ, is “infused” into every NFT minted within its ecosystem, arguably providing real-world value for digital assets.

Metaverse Outlook

A large number of companies investing in metaverse are spending millions of dollars to convince consumers that the dawn of metaverse has arrived. But will it usher in an era of mass adoption and accessible digital interaction, or will it become a niche product reserved for gamers and future technology enthusiasts? Only time will give the answer. For now, retail investors interested in the metaverse should explore these platforms and consider the future value of the metaverse for themselves.

Related Reading:

How to Make Money in the Metaverse

Things You Can Do in the Metaverse in 2022