Metaverse is not a new concept by any means. It has been in the public discord for years now. And the hype isn’t dying down.
On the contrary, we’ve seen a steady increase in the public interest.
This public interest has led to people asking more about the metaverse and related concepts. One of those concepts is metaverse crypto.
So if you’ve been wondering what is metaverse crypto, this guide will help you.
What Is Metaverse Crypto?
Metaverse is meant to be lived in, to be experienced. Like in the real world, one has to have some type of currency (token in the metaverse’s case) to live in a virtual world, i.e., metaverse.
Metaverse currency is often called metaverse crypto and is usually specific to that metaverse. For example, XETA is specific to the XANA metaverse. Similarly, SAND is specific to Sandbox. (More on these cryptocurrencies shortly).
Let us continue our discussion on what metaverse crypto is.
It is a non-fungible token, often based on an established Blockchain. Ethereum is a famous example, and many big metaverse cryptos are based on it.
One can use these metaverse cryptos in the same way as a real-world currency, albeit with some extra steps. These steps can include exchanging fiat currency for a standard cryptocurrency. And then exchange that into your desired metaverse crypto. This can cause undesirable wait times and high gas fees.
If you are a metaverse enthusiast, this minor inconvenience should not stop you. Instead, you can hope for a near future where these steps will be non-existent. And your metaverse experience will be much more streamlined.
Now you know the basics of metaverse crypto, and we think it’s a strong enough basis for what we will discuss next.
Best Metaverse Crypto Out There
There are numerous metaverse cryptos, some of those more reputable than others. We’ll discuss ones in the upper echelon. Others, we will leave to you to find 🙂
MANA is the native cryptocurrency of the metaverse Decentraland. It is one of the oldest metaverse cryptos out there. You can utilize MANA to build a virtual life for yourself in Decentraland.
You can buy LAND (virtual property in the metaverse) with MANA. On that LAND, you can build anything of your choice. For example, you can decide to build a mall of some sort where brands would pay you to showcase their articles.
Decentraland has been around for quite some time, and its crypto has gained value over the years. But Decentraland isn’t as populated as some of the other metaverses we’ll mention later on. So if you decide to exchange your fiat currency for MANA, do know that it will be a long-term investment.
Sandbox is another big player in the metaverse scene. So it’s quite natural that its native crypto gains certain hype.
Sandbox is truly a virtual world where your imagination is your limit. With its intuitive builder software, you can create anything on a parcel of Land you buy with SAND. Big companies and influencers have started investing in Decentraland, pushing SAND’s worth through the roof.
If you invest in SAND now, there’s a chance you will have huge gains in a short time.
XANA is Japan’s biggest metaverse project, with numerous local and international brands collaborating with it. While the whole world is seeing a drop in metaverse value, Japan’s market is booming, and XANA is at the forefront of that.
XETA is the official metaverse crypto of XANA. You can use it to buy parcels of virtual Land, various NFTs, and even build your own avatar.
It may not appear in your typical lists of top 10 metaverse crypto coins. But XETA is the one to look out for. There’s a high chance it’ll emerge as a big name in the metaverse scene.
Maybe the biggest metaverse in terms of daily users, Axie Infinity has AXS as its native cryptocurrency.
If you’ve ever played Pokémon, you will be familiar with the concept. You raise a certain number of Axies (placeholders for Pokémon) and compete with fellow trainers to see who the better one is.
To get started in Axie Infinity, you need to spend AXS and purchase at least 3 Axies. Axie Infinity’s popularity keeps AXS’s value high amid dips all over the market.
If you want to enjoy a relatively cute metaverse, consider investing in AXS. And if you earn enough AXS, you can exchange those for real currency or more NFTs.
Metaverse crypto is here to stay. It’s up to you if you want to wait and see a relatively stable market and dive in. Or do your own research and invest in a cryptocurrency you see potential in.
As always, only invest with proper research.