When it comes to Metaverse crypto coins, there is certainly no shortage of options to invest in. With new coins emerging daily, it can be tough to track them all.
This article will take a closer look at some of the most promising Metaverse crypto coins on the market, where you can get them, and why they have value. So, without further ado, let's get started.
What is the Metaverse?
Before we get into the coins, we should briefly overview The Metaverse. The Metaverse is a decentralized virtual world that runs on blockchain technology.
It is similar to the popular online game Second Life but with a few key differences. For one, the Metaverse is completely decentralized, meaning that no central authority or company controls it; instead, it is run by its users.
Secondly, the Metaverse is open source, meaning anyone can create applications and services for it. Lastly, the Metaverse has its own cryptocurrency, called Metaverse coins (MVC).
How Does Crypto Work in the Metaverse?
Cryptocurrency is used in the Metaverse to buy, sell, or trade virtual assets, and these can be anything from virtual land to digital art. The Metaverse also has its own decentralized exchange, called the Metaverse Smart Exchange (MVS).
This is where users can buy and sell Metaverse coins for other cryptocurrencies or fiat currencies.
What are Metaverse Tokens?
Metaverse tokens (MVT) are the native currency of the Metaverse. They are used to buy, sell, or trade virtual assets in the Metaverse. MVT can also be used to pay for services in the Metaverse, such as website hosting or virtual land rental.
Benefits of Buying Metaverse Tokens
There are a few benefits to buying Metaverse tokens. First, they give you a way to participate in the Metaverse economy. By purchasing and selling Metaverse assets, you can make money in the Metaverse just like you would in the real world.
Second, Metaverse tokens can be used to pay for services in the Metaverse, including website hosting or virtual land rental. Lastly, Metaverse tokens can appreciate if the Metaverse economy grows.
Risks of Buying Metaverse Tokens
Of course, there are also risks involved with buying Metaverse tokens. First and foremost, Metaverse tokens are digital assets and, as such, are subject to volatility. The price of Metaverse tokens can go up or down quickly, and you could lose money if you’re not careful.
In addition, Metaverse tokens are not legal tender, meaning a government or financial institution does not back them. This makes them riskier than buying traditional currencies, so you should only invest what you can afford to lose.
Lastly, the Metaverse is still in its early stages of development, so there is a risk that it could fail or be replaced by another virtual world.
The Top Metaverse Crypto Coins
Now that we’ve explained some preliminary information about the Metaverse and how it relates to cryptocurrency, let’s look at some of the top emerging Metaverse coins available today.
ApeCoin (APE)
ApeCoin is a Metaverse crypto coin that was created in 2017. It is based on the Ethereum blockchain and uses the ERC20 token standard. ApeCoin is one of the few Metaverse coins that allows users to buy virtual land with it.
It also has its own decentralized exchange, called the ApeXchange. The team behind ApeCoin is very active and has plans to launch several new features in the near future.
- Circulation and Supply
The current circulating supply of ApeCoin is 100 million APE. The total supply is capped at 500 million APE. - Interesting Facts
ApeCoin was one of the first Metaverse coins to launch. It is also one of the few Metaverse coins that allows users to buy virtual land with it. - Reasons Why You Should Buy
If you’re looking for a Metaverse coin with a lot of potential, ApeCoin is a good option. It has a strong team behind it and is one of the few Metaverse coins that allows users to buy virtual land. - Reasons Why You Shouldn’t Buy
ApeCoin has a relatively small circulating supply. This could lead to price manipulation and make it difficult to sell in the future.
Sandbox (SAND)
Sandbox also has a unique governance model. The team behind Sandbox is planning to give users a say in how the platform is run. This could make Sandbox one of the most democratic Metaverse platforms in existence.
- Circulation and Supply
The circulating supply of SAND is currently 600 million SAND. The total supply is capped at two billion SAND. - Interesting Facts
Sandbox was founded by Pablo Rodriguez and Arthur Madrid in 2018. It is based on the Ethereum blockchain and uses the ERC20 token standard. - Reasons Why You Should Buy
There are several reasons why you should buy Sandbox tokens. First, the Sandbox team is active and constantly releasing new features. Secondly, the governance model gives users a say in how the platform is run. - Reasons Why You Shouldn’t Buy
Sandbox doesn’t have a lot of uses right now. This could change in the future, but it’s important to remember that most of its value is speculative at this point.
MANA (Decentraland)
MANA tokens are the official coin of Decentraland, a 3Dd virtual world that’s become very popular among crypto investors.
Decentraland was founded in 2015 and is based on the Ethereum blockchain. MANA uses the ERC20 token standard and can be used to purchase various items within Decentraland, such as real estate and goods. Decentraland is one of the largest Metaverse platforms, with over two million parcels of virtual land.
- Circulation and Supply
The current circulating supply of MANA is 11 billion MANA. The total supply is capped at two billion MANA. - Interesting Facts
Decentraland was founded by Esteban Ordano and Ariel Meilich. It is one of the oldest Metaverse platforms and has one of the largest user bases. - Reasons Why You Should Buy
If you’re looking for a Metaverse platform with many users, Decentraland is a good option. It also has an ample supply of virtual land, which could appreciate over time. - Reasons Why You Shouldn’t Buy
The value of MANA is closely tied to the success of the Decentraland platform. If Decentraland fails, the value of MANA will likely drop significantly.
Highstreet (HIGH)
Highstreet is a marketplace platform that was launched in 2019. It is based on the Ethereum blockchain and uses the ERC20 token standard. Highstreet focuses on giving users a realistic shopping experience. It has its own virtual currency, called HighCoin, which can be used to buy goods and services within Highstreet World.
- Circulation and Supply
The current circulating supply of HIGH is 100 million HIGH. The total supply is capped at two billion HIGH. - Interesting Facts
Highstreet was founded by Jörg Müller and Stefan Kühn. It is one of the newer Metaverse platforms but has already gained a lot of traction. - Reasons Why You Should Buy
If you’re looking for a Metaverse platform that focuses on giving users a realistic shopping experience, Highstreet is a good option. It also has its own virtual currency, which could appreciate in value over time. - Reasons Why You Shouldn’t Buy
The value of HIGH is closely tied to the success of the Highstreet platform. If Highstreet fails, the value of HIGH will likely drop significantly.
Floki Inu (FLOKI)
Floki Inu is a Metaverse platform that was launched in 2020. Floki Inu focuses on giving users a realistic gaming experience. Its virtual currency, FlokiCoin, can buy goods and services within the Floki Inu Metaverse.
While some might consider Floki Inu a “meme coin,” it wants to set itself apart from other meme coins by combining the memes with utility. Its goal is to create an autonomous and decentralized ecosystem through NFTs, games, and decentralized finance features.
- Circulation and Supply
The current circulating supply of FLOKI is 100 million FLOKI. The total supply is capped at two billion FLOKI. - Interesting Facts
Floki Inu was founded by Jörg Müller and Stefan Kühn. It is one of the newer Metaverse platforms but has already gained a lot of traction. - Reasons Why You Should Buy
If you’re looking for a Metaverse platform that focuses on giving users a realistic gaming experience, Floki Inu is a good option. It also has its own virtual currency, which could appreciate in value over time. - Reasons Why You Shouldn’t Buy
FLOKI isn’t for everyone. The supply is minimal, so it’s important to remember that the value of FLOKI is speculative at this point.
Star Atlas (ATLAS)
Star Atlas is an online multiplayer game set in a virtual gaming metaverse. Star Atlas is built on the Solana blockchain and backed by several Solana-based projects, such as Serum and FTX. Although Star Atlas doesn’t have a detailed release schedule, its metaverse tokens are scheduled to begin trading in August 2021.
Star Atlas is a distributed ledger that will be the foundation for a new virtual economy. The developers of Star Atlas are building a decentralized exchange, social media platform, and marketplace on top of the blockchain. The goal is to create a Metaverse where users can earn rewards for their contributions.
- Circulation and Supply
The circulating supply of Atlas is currently unknown. The total supply is capped at 100 million ATLAS tokens. - Interesting Facts
The team behind Star Atlas is led by co-founders Simon Kertonegoro and David Levy. They are based in Singapore, and Star Atlas was one of the first ICOs to launch on the Binance Launchpad platform. - Reasons Why You Should Buy
The team behind Star Atlas is experienced and has a clear vision for the project. The coin is trading at a very low price right now, so it could be an excellent time to buy it and see a significant return. There is also a lot of potential for growth if the project is successful. - Reasons Why You Shouldn’t Buy
There is not much information available about Star Atlas right now. The project is still in development, so it may be some time before we see any real progress. It’s also worth noting that Binance Launchpad has had some issues with scams in the past. So, you should do your own research before investing in any ICOs from that platform.
Enjin Coin (ENJ)
Enjin Coin was created by Enjin, a company that created an ecosystem of blockchain-based gaming products that communicate with each other. Enjin Coin is a digital store of value that backs the value of blockchain assets like NFTs. Enjin Coin is unique because every token minted is directly supported by ENJ, giving game items real-world liquidity.
- Circulation and Supply
The circulating supply of ENJ is currently unknown. The total supply is capped at one billion ENJ tokens. - Interesting Facts
Enjin was founded in 2009 by Witek Radomski. The company is based in Singapore. Enjin Coin was one of the first ICOs to launch on the Binance Launchpad platform. - Reasons Why You Should Buy
Enjin has a lot of potential. The team is experienced, and the project is well-funded. Enjin Coin is also trading at a very low price right now, so it could be an excellent time to buy. - Reasons Why You Shouldn’t Buy
There is not much information available about Enjin right now. The project is still in development, so it may be some time before we see any real progress.
How is the Metaverse Different from Web3?
The Metaverse is often compared to Web 3.0 or Web3. While both are decentralized virtual worlds built on blockchain technology, there are some key differences between the two.
For one, the Metaverse is more focused on creating a meta-world or a world within a world. It allows users to create their own avatars and virtual assets. Web3, on the other hand, is more focused on creating a decentralized web.
Secondly, the Metaverse has its own cryptocurrency, called Metaverse coins (MVC). Web3 does not have its own cryptocurrency and instead relies on existing cryptocurrencies like Bitcoin and Ethereum.
How is the Metaverse Different from the Internet?
The Metaverse is also compared to the Internet in many ways. While both are decentralized networks, there are some critical differences between the two.
For one, the Metaverse is more focused on creating a meta-world or a world within a world. It allows users to create their own avatars and virtual assets. On the other hand, the internet is more focused on connecting people and devices.
Secondly, the Metaverse has its own cryptocurrency, called Metaverse coins (MVC). The internet does not have its own cryptocurrency and instead relies on existing cryptocurrencies like Bitcoin and Ethereum.
Lastly, the Metaverse is open source, so anyone can create applications and services for it. The internet is not open source and is controlled by a few central authorities.
What is the Future of the Metaverse?
The Metaverse is still in its early stages, however, it has a lot of potential for success. For one, it could become a major platform for online games and other virtual reality applications.
Additionally, the Metaverse could be used as a way to store data and create digital assets. This would give users complete control over their data and assets. Lastly, the Metaverse could be used as a marketplace for buying and selling digital goods and services. Many individuals and corporations have begun buying up virtual real estate, products, and more in the Metaverse.
What To Look For In A Great Metaverse Coin?
When it comes to Metaverse coins, you should look at the same things when researching a standard cryptocurrency or stock. For example, you should be looking for:
- A Clear Vision: The team behind the project should have a clear vision of what they want to achieve.
- Experience: The team should be experienced in the industry.
- A Low Price: You can buy more of the coin if it’s trading at a lower price.
- Potential for Growth: There should be potential for the price of the coin to grow if the project is successful.
In addition, here are some other factors to look into.
Research The Founders
The founders of a project matter. You’ll want to ensure that the team behind the project is experienced and has a clear vision for the project. However, it’s also important to look at the price of the coin and the growth potential.
Sometimes, a well-established team can launch a successful project even if the price of the coin is high.
Investigate The Trading Volume
So, what does volume mean when it comes to Metaverse tokens? The volume of a coin is the number of coins that have been traded in the past 24 hours.
A high volume can be a good sign, as it shows interest in the coin. However, you should also look at the coin’s price and the market capitalization to get an idea of whether or not the coin is undervalued.
What Is The Circulation Supply?
The circulating supply is the number of coins that are currently in circulation. The total supply is the maximum number of coins that will ever be in circulation.
A low circulating supply can be a good thing, as fewer coins are available on the market. This can lead to price increases if demand for the coin is high, and it can also make the price a lot more volatile, so thoroughly research a coin’s circulation before investing.
Market Capitalization
Market capitalization is the total value of all of the coins in circulation. It is calculated by multiplying the price of a coin by the total number of coins in existence. For example, if there are 10 million outstanding coins worth $10, it would have a market cap of $100,000,000.
The market cap allows you to determine the size of a coin compared to another and what a coin is worth. For example, a “large-cap” coin may have a market cap of $10 billion or more, while a “small-cap” company coin likely comes in between $300 million and $2 billion.
Read the White Paper
Also, make sure to read the white paper before investing in any Metaverse crypto coin. The white paper will give you a detailed overview of the team’s plans and vision for the project.
Focus on the Supply
It’s important to focus on the supply of Metaverse crypto coins. Some Metaverse platforms have a very limited supply, which could lead to significant returns if the platform is successful.
Pay Attention to Reputation
Finally, pay attention to the reputation of the team behind the Metaverse platform. This will give you an idea of their experience and whether or not they are capable of delivering on their promises.
How to Get Started Buying Metaverse Crypto Coins
If you’re interested in buying Metaverse crypto coins, it’s pretty easy to get started. Many larger cryptocurrency exchanges will carry the larger metaverse coins, such as MANA. Once you’re signed up for your account, you’ll just need to transfer funds in, and once they clear, you can start investing.
If you’re looking for other attractive alternative crypto investments outside the metaverse, you might be interested in learning more about cryptocurrency IRAs. A crypto IRA is just like a standard tax-advantaged retirement account, however, instead of investing in stocks and other traditional financial vehicles, you’re investing in cryptocurrencies.
At My Digital Money, you can securely trade a wide range of the most popular cryptocurrencies in your IRA with no monthly fees and a low transaction fee between .9% – 1.9%. In addition to trading in your IRA, you can also trade crypto in cash like on any other crypto exchange.