Although many people are unfamiliar with the word “metaverse,” it has been around for decades. The metaverse is the pinnacle of all science fiction dreams, as shown in movies like “Ready Player One” and “Tron.”
As a result, it’s no wonder that firms like Facebook are significantly investing in the metaverse. But what is the metaverse, and what tokens should you be aware of if you’re considering investing in it?
Continue reading to discover more about the metaverse and what investment options exist in the crypto markets that allow you to participate in the metaverse’s growth.
Disclosure: This is not financial advice; if you decide to make a purchase based on this post, we will not be held liable for any losses you may incur.
What is the Metaverse?
Let’s first define the metaverse before we look at the metaverse investing possibilities available to you.
The metaverse is the next phase of the Internet where augmented reality (AR), extended reality (XR), and virtual reality (VR) will collide with our actual environment.
With the coming of the metaverse, the world as we know it will alter dramatically. Humans will be able to live, work, and play in the metaverse.
So, what’s the big deal about the metaverse?
Why should you invest in it as an investor? According to Bloomberg, the market size of the metaverse is estimated to reach $800 billion by 2024. This demonstrates how profitable the metaverse may be in the future years.
What metaverse investments, on the other hand, can you make? What is the best way to get started investing in the metaverse? What are the best cryptocurrencies to invest in?
Metaverse Tokens You Could Invest In
While there are many methods to invest in the metaverse and get a piece of the action, in this tutorial, we’ll focus on blockchain-based digital tokens that offer you a piece of the metaverse’s success.
Blockchain technology will most likely power Metaverse systems, allowing users to own, develop, and exchange digital assets utilizing non-fungible tokens (NFTs) and cryptocurrencies like bitcoin and ether.
NFTs have helped the metaverse get a lot of attention in the last several months. So, what are the metaverse tokens you should be aware of?
Facebook Tokenized Stock
Mark Zuckerberg is attempting to transform Facebook into a metaverse firm. As a result, it’s no surprise that Facebook has been significantly investing in the metaverse. So far, the internet giant has put $50 million into its ‘XR Programs and Research Fund’ metaverse initiatives.
With all of Facebook’s money going into the metaverse, buying Facebook Tokenized Stock might be highly profitable in a few years.
Facebook Tokenized Stock (FB) are Traditional securities are represented by tokenized derivatives. To put it another way, they’re a tokenized version of stock that’s usually backed 1:1 by the underlying stock.
You may buy a percentage of the Facebook tokenized stock instead of the entire stock, it has better liquidity than genuine stocks depending on where you reside, and it can be traded 24 hours a day, seven days a week, unlike actual Facebook shares.
MANA, Decentraland’s token, is another metaverse token worth knowing about.
Decentraland is a virtual reality platform built on the blockchain that allows users to purchase, trade, and build land while also playing games, generating the content, and connecting with one another.
Decentraland is the largest virtual world in the NFT realm, and it is represented by the LAND token, which is a non-fungible ERC-71 token. Each piece of LAND on Decentraland is unique, and its owners have complete control over what they do with it.
MANA may be used to acquire LAND on the platform. MANA is the major token in Decentraland, and it is used to buy LAND as well. It is used to pay for products and services as a native utility token. It’s likewise based on Ethereum and may be purchased and traded in exchange for other cryptocurrencies or fiat money.
The overall supply of MANA is set at 2.6 billion MANA. That means that at any one time, there will never be more than 2.6 billion MANA.
Axie Infinity (AXS)
Axie Infinity is a blockchain-based online video game that uses Ethereum’s AXS and SLP digital currency. Players breed, grow, and combat their digital creatures known as Axies in this play-to-earn game. The governance token AXS is used in the Axie Infinity game.
Token holders have the ability to vote and influence the game’s development. This is in contrast to traditional games, in which the game designers make all of the decisions. Owners of AXS tokens can not only stake their tokens to gain more, but they can also vote on various governance initiatives.
The Smooth Love Potion (SLP) token is also used in the Axie world. The SLP token is primarily used to facilitate breeding. The SLP token may be earned through completing adventures and fights in the game. The SLP token differs from the AXS token in that it is not a governance token. As a result, it is not utilized to vote. The total quantity of AXS tokens is 270 million.
Enjin Coin (ENJ)
Another metaverse token worth investigating is Enjin Coin. It’s an Ethereum-based token that aims to make using NFTs as simple as possible for people, brands, and enterprises. NFTs developed using Enjin, on the other hand, employ the ERC-1155 standard, which is distinct from the widely used ERC-721 standard.
ENJ directly backs NFTs created within the Enjin ecosystem. The native currency on the platform is ENJ. When a new NFT is created on the network, it is minted with a specified number of ENJ. The freshly created coins have real-world value because of the locked funds.
Enjin also recently received over $19 million, which will be utilized to develop a Polkadot-based blockchain for NFTs. The total quantity of ENJ tokens is 1 billion.
The Sandbox (SAND)
SAND is another token to keep an eye on in the metaverse, with a maximum supply of 3 billion. The Sandbox is a virtual environment based on the Ethereum blockchain, much like the rest of the platforms in this tutorial.
Players may create, market, and own their game experience on the platform. The SAND token is an ERC-20 utility token that is used for governance, staking, and transactions on the network.
Star Atlas (ATLAS)
Star Atlas is a massively multiplayer online game set in a virtual gaming universe. The game is made using Unreal Engine 5 and has real-time, cinematic environments.
There are three primary groups in the game, all of which are vying for dominance and resources. The game is also a flying simulator with role-playing capabilities.
The ATLAS coins will be used in the Star Atlas game, which is presently being developed on the Solana blockchain. ATLAS tokens will be the game’s in-game money, which can be used to acquire assets and NFTs on the NFT marketplace. A total of 36 billion ATLAS tokens are available.
Metaverse Index (MVI)
Another intriguing example of a metaverse token is the Metaverse Index (MVI) token. The token, which is represented by an ERC20 token, is designed to capitalize on the trend of businesses, entertainment, and sports moving to virtual worlds.
Owners of the MVI token have access to a wide range of tokens from various crypto projects, including online games, non-fungible tokens, and virtual worlds.
Consider the Metaverse Index token to be a metaverse ETF for cryptocurrency markets. A total of 39,602 Metaverse Index tokens are available.
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