Now the metaverse sector is in an initial stage of its development, however, it has already covered a part of its journey. In the cryptocurrency world, there are several well-established projects while others are only picking up steam. In this article we are talking about several of them that will not only be able to influence the cryptocurrency industry but to be very profitable in theory.
In this article we are talking about tokens and their relevant position in the market but we do not encourage making any particular investment. Each decision must be made on your own at your peril.
Recently the term “metaverse” has become so popular that in 2022 it may become the Oxford word of the year. It means that may people who may be connected to the world of the crypto industry or may not are already aware of the development of the virtual reality where people can interact with each other using avatars and spend various events. The press of the University of Oxford commented on the dramatic growth of popularity of the word “metaverse” in the following way:
“Usage increased as we discussed #hybrid working, debated the ethics, and wondered about the feasibility of an entirely online future.”
Metaverses are definitely at the early stage of their development. We can especially notice it if we draw an analogy with the world of cryptocurrency as a whole. If the first cryptocurrency appeared in 2009, the gamification of cryptocurrency emerged only in 2017 as an app — a game called CryptoKitties.
In 5 years, this sphere has been developing and giving users a chance not only to have fun but earn money. This decade crypto gaming started to gain momentum and took its first steps towards virtual universes. This is how the idea to realize the long-forgotten word “metaverse” in new wrapping appeared and turned it into a separate sector of gaming in the cryptocurrency world.
The founder of Facebook Mark Zuckerberg was so inspired by the idea of development metaverses that he created a special unit called Reality Labs and invested a great deal of money there to create his own version of a virtual helmet that will allow users to plunge into virtual worlds. Zuckerberg also renamed the company Meta to highlight his attraction to the theme related to development of metaverses.
Nevertheless, his helmet costs $1,499, and the virtual world called Horizon Worlds does not enjoy popularity and is not present in our top. Numerous inventors were taken aback by his passion for metaverses due to the fact that Meta stocks lost their value by 3 times. Perhaps in the future Zuckerberg’s project can reach the state he wants his baby to be in but now you should refrain from investing into Meta stocks. By the way, you can learn more about the history of huge losses of Mark Zuckerberg and the problems of the company in our article.
Read on to find out about more successful crypto projects and metaverses. We will observe tokens from the perspective of total capitalization.
7 place — Enjin Coin
Enjin is a project that stands out from the metaverse theme however, it is worth mentioning. The project to process NFT tokens and circulate them was created in 2017 and the value of one Enjin coin was $0,03 for a long time. In 2021, the company finally managed to reach a huge audience and therefore many drew attention to Enjin Coin.
This turn of events helped the coin to move from $0,15 to $3,22, and then it started to decrease. Then in November 2021 the token climbed $3,85 from $1,60 in several days. Following the whole cryptocurrency world Enjin Coin went towards a downward trend and at the moment of this article being written the value of one Enjin coin is $0,30, and the total capitalization surpasses $300,000,000, which put this coin on the 93 place in top-100 crypto tokens with the biggest capitalization.
What are Enjin’s advantages? For starters, this project is directed towards creation of an ecosystem of non-fungible tokens where all genres are going to be mixed together including crypto gaming, music, art and others. Nevertheless, gaming remains the main direction for Enjin with several games being released with the support of Microsoft, which is important. When the market starts moving towards an upward trend, Enjin can become one of the coins that can multiply the investment, however, it will take some time as well as in the case with the rest of the cryptocurrency world. We should also say that Enjin has not only a limited emission but also all possible 1,000,000,000 tokens have already been mined, which can affect the value of the token positively in the long-term due to the inflation character of this factor.
6 place — Axie Infinity
Axie Infinity as well as Enjin is not really related to the world of metaverses, however, this product showed it’d been tested by time. This game might be called the most popular NFT crypto gaming title that not only gave a chance to spend time in a very fun way but also an opportunity to earn. In 2021, rumor had it that at the peak of bull run of the crypto market some players of Axie Infinity left their main jobs as they could provide themselves with the money that they got from Axie Infinity.
You can agree that such stories happen not in every single game so it means that Axie Infinity really stands out among its competitors.
The title appeared in November 2020 and was worth $0,18 per each AXS. Since July 2021, Axie started gaining momentum and last September it reached its historical maximum surpassing $153 per one token. At the moment of this article being written the value of one AXS is $6,73, and the net circulates only 37% of coins. The total capitalization is $671,000,000 which puts this coin to the 56th place in the list of cryptocurrencies with the highest level of capitalization. If we give this game a chance and try to invest a bit or maybe play it, in the next bull run Axie Infinity has all chances to please its investors.
5 place — Decentraland
Decentraland opens the list of projects that are directly related to metaverses. This crypto gaming project deserves to be called one of the main pillars of the metaverse community. The project gathered many users from around the world thanks to a good implementation of ideas about purchase and sale of various gaming elements. Users can own lands and other kinds of property, and also swap items that could be worn by avatars. It is all done with support of a decentralized autonomous organization (DAO). The latter processes smart-contracts. Decetraland positions itself as a platform where some of the best projects of the metaverse sectors are located.
The token MANA appeared in 2017 and cost only $0,025. At the end of November last year it reached a record sum of $5,20. At the moment of this article being written the value of one token is $0,40 and if the next bull run will be a new high for MANA, Decentraland will be able to give its investors more than 10x.
4 place — The Sandbox
The project The Sandbox is the most popular realized metaverse on the list. On this platform, there are numerous users who trade property, clothes and other items for avatars as well as in case of Decentraland. You can also hold some things increasing the value of your assets. The metaverse uses the Ethereum blockchain.
The SAND token appeared in September 2020 and was worth $0,066 per coin. In October 2021, The Sandbox reached its peak and surpassed $7,15 per each. At the moment of this article being written, one SAND cost $0,5755, and the total capitalization surpasses $860,000,000. This lets the metaverse enter Top-50 coins with the highest capitalization.
3 place — Theta Network
Theta Network looks like something that happened with Enjin. This project is directed towards not only the gamification of the cryptocurrency market but also towards expansion of the limits to other mediastructures, let it be a video or a different kind of entertainment. The unique feature of The Network could be the fact that the company wants to improve the sphere of Web 3.0, and also different partnership agreements that they managed to sign.
THETA appeared at the market a long time ago, in March 2018, and was worth $0,18 per each. The hype around the token was on in April last year. Following the general market THETA managed to exceed $13,40, after that it started to decline. Now 1 THETA costs $0,9335. After the market has hit the bottom and started a new bull run, Theta Network will be able to please their investors. It will work for the people who like collecting several coins in their portfolio.
2 place — Internet Computer
The creators of Internet Computer aim at something interesting. They created their own blockchain to help users to decrease their need in the regular IT ecosystem and change its architecture based only on smart contracts.
Internet Computer is the only representative of the list that showed a downward trend. The token ICP appeared in December last year. Investors that got a token at the pre-sale started fixing their profit straight away that resulted in a collapse of the rate of Internet Protocol from $428 to $30. At the moment the value of one ICP token is $4. It is a risky asset however, it may show itself as a long-term investment. Nevertheless, despite everything we have just mentioned, ICP cemented its 39th position on the list of the cryptocurrency coins with the highest level of capitalization that in case of Internet Protocol, by the way, surpasses the desired bar $1,000,000,000.
1 place — ApeCoin
The leader of our list by the level of the current total capitalization at the market, the ApeCoin is a baby of creators of Yuga Labs. This token is the most popular in the metaverse sphere as it is in high demand in the virtual world Otherside. This multi-users game belongs to the same studio Yuga Labs that created one of the most sensational NFT collections, Bored Ape Yacht Club. As for the latter, it is notable for their clients being celebrities who bought non-fungible tokens from the Bored Ape Yacht Club series to highlight their commitment to development of modern technologies and Web 3.0 culture. At the moment ApeCoin is worth $3,40, and the total capitalization exceeds $1,200,000,000. Recently we have come across some information that The United States Securities and Exchange Commission encouraged Yuga Labs to cancel an opportunity to stake ApeCoin in the USA and Canada. The reason is that the creators of the BAYC collection and ApeCoin coins could violate federal legislation.
The ApeCoin token was released in March 2022 valued $7,8 after that it provided its investors with Xs at the end of April reaching $23. Now the token is going through tough times but due to the fact that the market is in the global downward trend, it is absolutely OK. The next bull run can bring ApeCoin a new high and give good Xs to their investors. Taking into consideration the popularity of the Bored Ape Yacht Club, it must happen for sure.