Such fantasies as seen in Sword Art Online, Ready Player One, Tron, and others. So! If you’re an adept reader, then you shouldn’t be surprised when popular companies like Facebook and Twitter begin investing heavily in the grand project which is “The Metaverse.” But there’s still this small thing bugging you “in your mind.”
A question that seems unanswered each time the question “What exactly is the metaverse?” pops up. How do you explain the metaverse to a friend in a conversation? How do you inform them that the metaverse is the future of technology and cryptocurrency investments? Well, all that and more will be explained here as you read further.
What is the Metaverse?
At this point, before we give you a brief and concise meaning of the cryptological term “Metaverse,” let’s take a look at the different meanings of the term according to various cryptocurrency experts. First, we have “the metaverse is loosely defined as an extensive online world that allows individuals to interact via their digital avatars.”
Second, we have “The metaverse is a hypothesized iteration of the internet which supports persistent online 3-D virtual environments through conventional personal computing, augmented reality headsets and other tools. Companies like Meta Platforms Inc., formerly known as Facebook Inc., have decided to embark on projects that are aimed at developing the metaverse experiences via services and hardware.
In summary, the metaverse uses various augmented tools to improve our virtual experience and how we enjoy our daily activities. In the wake of the CoronaVirus, in 2019, the need for virtual and physical experiences increased; and the metaverse came into the limelight. The world as we know it is changing; hence, the need for suitable technology that can accommodate such change is paramount. Thus the need for the metaverse cannot be overemphasized!
Top 10 Metaverse Crypto Projects To Invest In
There are various methods of investing in the metaverse; especially if you plan on taking part in the entire action. So! Here, we will guide you through the various popular and powerful projects that you should look out for. These blockchain-based digital tokens and NFTs will give you exposure to the success of the metaverse and how to enjoy it.
Axie Infinity (AXS)
AXS is known as the governance token for the Axie Infinity game, a popular RPG game where players earn and use tokens for game in-app purchases and other activities.
Token holders are permitted to shape and vote for the direction of the games’ universe. Since its establishment, a lot of people have invested and made gains from trading AXS alone.
So! It’s only normal for others to want to find out how it works, and what they can do to get in line. For individuals who are greatly involved in the gaming space, then games like Genshin, Forged games, and Vulcan are great platforms for gaining Meta-experience. Other games include Chain Games, Splinterlands, Ember Swords, and others.
Currently, MANA is the best performing metaverse token ever created. MANA is burned or spent by users in exchange for land parcels in the physical and virtual world. Land can be classified as a non-fungible digital asset that is maintained by an Ethereum smart contract on the blockchain.
Using MANA and investing in it is actually a big deal because there’s going to be a finite amount of land (in the nearest future) relative to the different worlds under construction in galaxies, universes, and alternate realities. Especially since they’re soon to be let out, and even sold (creating a high demand for them).
If you’re familiar with The SandBox, then you would know that SAND is its native token. The SandBox is a blockchain-based game and metaverse world; which just like MANA allows its users to purchase, sell, stake, and trade land for various non-fungible tokens (NFTs) and other assets.
It runs on the Ethereum Blockchain, just like Enjin Coin, and should be on every crypto trader’s watchlist of powerful metaverse coins.
ENJIN Coin (ENJ)
Enjin Coin is a digital currency for virtual products that belong to Enjin. Also, Enjin is the largest gaming community platform online; it currently has more than 250,000 gaming subcommunity platforms and 18.7 million registered gamers. Unlike MANA and ASX, ENJ is designing a coin that is completely centered on gaming as its goal.
With its design and orientation, it is only expected that ENJ becomes the best-developed meta currency in the history of the metaverse. Enjin Coin is an ERC-20 token; which as you already know is built on the Ethereum Blockchain and network. So! The project not only acts as a cryptocurrency token but also as a smart contract address.
ENJ is one of the first metaverse projects to test the Raiden network; which is ETH’s version of the Lightning Network.
Render Network (RNDR)
Render is one of the most promising and innovative projects building decentralized rendering solutions for the metaverse. The Render Network is targeting a key component required for building a decentralized metaverse — GPU rendering.
The network aims to build decentralized GPU rendering on the blockchain to eliminate the current hardware limitations, thus putting the power of GPU rendering at your fingertips, at a fraction of the cost and speed of in-house rendering.
The network’s utility token RNDR is an ERC-20 token that rose to more than 250% in the last seven days. Looking at the pace, the token might touch a double-digit price real soon.
UFO Gaming (UFO)
It is a fully decentralized inter-galactic social gaming token, just like MANA, ILV, AXS, and other metaverse tokens. UFO gaming owns its own P2E platform, Virtual land, NFT, IDO launchpad, and gaming community.
When speaking of activities and products that are $UFO-related, the $UFO token will be needed to complete the entire transaction. Users would also need the token to interact with other elements in the game and launchpad ecosystem. The token is utility-driven and provides users with a much more premium experience.
Yield Guild Games (YGG)
Yield Guild Games were also known as YGG is a game guild DAO that has its interests in earning yield through its blockchain-based games and investing in the metaverse. In the metaverse, YGG invests in metaverse assets; lands, homes, and other potential yield assets.
The YGG DAO started off as an AXS scholarship program that enabled players in the Philippines to earn money and cryptocurrency by playing online games through its SLP earnings. Currently, YGG’s DAO is focused on building a larger crypto space gaming guild for optimizing earnings and asset values for YGG token holders.
In the metaverse, Starlink Station is a virtual world existing as a space for users to host their data and ideas within the blockchain. Users earn and have $Starl tokens for their activities; since it’s their native token. Users can also create new and visual adaptations which would improve the views of NFTs- while representing the metaverse as a projection of the real world.
Illuvium is a decentralized gaming studio that operates similarly to Axie Infinity and MANA. Illuvium combines online gaming with cryptocurrency investment and experience; hence creating a uniquely functional, evolving, and high-end NFT that is both playable and value-oriented.
This game is the very first blockchain-based AAA gaming title offering high-def graphics and addictive gameplay to its users and potential investors. Their decentralized NFT collections and auto batter game is designed to function off the Ethereum blockchain and network for a highspeed processing power.
Ceek VR (CEEK)
CEEK’s platform aims to empower the metaverse content creators by enabling the tokenization of smart tickets allowing creators to track and verify sales of tickets and digital assets on the CEEK blockchain. Thus ensuring continuous royalty payouts to creators through immutable data on a ledger.
The platform offers an existing virtual reality platform and it creates, curates, and distributes metaverse content using their patented Ceek VR headsets. The platform has a native utility token known as CEEK with a total supply of 1 billion coins.
Written by: Narender Charan