The Metaverse is a widely discussed theme these days, especially with the biggest social network, Facebook, changing its name to Meta.
Actually, the metaverse is an innovative third-dimensional platform with a multitude of experiences, including games, social networks, shopping, etc. Of course, investors attention has turned recently to meta coins - cryptocurrencies, associated with different metaverse projects.
Well, if the Metaverse is a virtual world that transcends reality, it is not a surprise that virtual coins are an important part of it. The Data generated in the Metaverse has its own value and with the data increasing, so does the value. And here comes the importance of blockchain technology, required to keep the reliability of data in the Metaverse.
Blockchain and crypto are the key technologies to help the Metaverse reach its full potential.
It is clear that with the evolving of cyberspace, we will hear more and more about cryptocurrencies that will be at the center of the metaverse.
We will have a look at three meta coins, expected to gain traction in 2022.
Axie Infinity
Axie Infinity is a NFT-based crypto game with a market cap of more than $8 billion. It was created in 2018 and allows players to breed and trade NFT pets, as well as purchase lands and live in virtual cities. The play-to-earn model is an interesting selling point, as it allows exchanging assets outside the game.
There are two cryptocurrencies powering the ecosystem - AXS-USD and SLP-USD. While the first can be traded on several exchanges, the second is given as an award to players for spending time in the game.
By market capitalization, AXS-USD is the top metaverse coin. In September, the platform managed to generate almost $220 million in revenue, from a million daily players.
Decentraland
Decentraland was founded in 2017, as a blockchain project, creating a decentralized virtual reality platform. It is built on the Ethereum blockchain and allows players to buy land and create environments, marketplaces and apps.
The virtual token is called MANA-UDS and players use it to buy different goods and services in the digital world. More than 2 billion tokens are in supply and 1.3 billion of them are in circulation.
Decentraland is owned by users through an autonomous organization. At the digital platform they can play, explore, display NFT art or try NFT wearables. Recently, there even was a Metaverse Festival, where users could listen to music and watch artist performances.
Somnium Space
Somnium Space is another open-source VR platform, where users are able to build or purchase land, homes, buildings and different digital assets. Furthermore, users can create their own scenes and even deploy full-body avatars. Players can access their digital parcel from any device.
Somnium Space is developed on the Polygon blockchain to eliminate any entry barriers. It has gained some attention in the NFT industry as it is able to integrate NFTs in the Metaverse. The token that powers the Somnium Space digital system is called CUBE-USD. It allows smooth transfers of assets in the metaverse.
CUBE-USD reached new highs in November with a price of $28.28. By the time of writing, its price is $10.44.
Cryptoarbi is an automated trading platform. We believe to be a part of the future. Choose your subscription plan and join us. We will do the work for you!