Two of the hottest spots in the past year have been cryptocurrencies and the metaverse. Investors teamed up the two in the hopes of making more money.
But these two areas are not independent. You can convert both metaverse cryptocurrencies and metaverse cryptocurrencies at the same time as the proper name metaverse cryptocurrencies.
It is not necessary to think of each data with a string in the metaverse. Here are three of the top metaverse cryptocurrencies that are relevant to the market – and whether they are smart options to buy right now.
Decentraland (MANA -4.32%) status as the largest cryptocurrency metaverse today, with a market cap of $ 5.6 billion. Even with a strong comeback since December, his MANA digital signage is much higher than it was 12 months ago.
Instead of being the largest metaverse cryptocurrency, Decentraland is also the first decentralized virtual world. Its Decentralized Autonomous Organization (DAO) has major smart contracts to navigate the Decentraland metaverse, including the LAND agreement that allows users to buy and sell virtual land.
Users can monetize their LAND by developing games, allowing advertising, and more. Decentraland’s real MANA symbol is the currency used in the metaverse. MANA can be used to buy LAND, but also to buy avatars, titles, costumes, etc. on the Decentraland market.
2. The sandbox
The Sand Box (RULE) Not far behind Decentraland. The number 2 metaverse cryptocurrency is currently $ 4.5 billion. But Sandbox has been more successful than Decentraland in the last 12 months, with its actual SAND signal rising nearly 1,670%.
Like Decentraland, Sandbox is a global platform that uses a DAO model. Like Decentraland, built on Ethereum blockchain. This blockchain supports smart contracts for the purchase of virtual land and other assets.
But there are some differences between these two metaverses. Most clearly, Sandbox is using the SAND digital token in its real money. Sandbox is also moving to Polygon’s layer-2 solution, which will lower marketing costs and increase production speed.
3. Axie Infinity
Axie Infinity (AXS) comes third among metaverse cryptocurrencies with a market cap of $ 3.7 billion. His AXS score is the best player of the three managers in the last 12 months with an earnings of 2,840%.
There are many similarities between Axie Infinity and the two major crypto metaverses. Axie Infinity is built on the Ethereum blockchain. Like Decentraland and The Sandbox, Axie Infinity has its own brand (in this case, AXS) used as currency in its world.
However, Axie Infinity has more to the game than its two top competitors. Players buy items called “Axies” that they can engage in battle, feed, and sell. They can build kingdoms for their Axies.
Do they buy?
All three of these metaverse cryptocurrencies are currently available to many investors. But are they still buying? I think that’s probably obvious.
Much of the rise of these digital brands is related to the quality of their metaverses to pull users forward. Decentraland and The Sandbox seem to be gaining traction with businesses. It is recommended for large companies as well O Adidas and Samsung sells virtual land to these metaverse platforms. This can be continued and steam can increase in the years to come.
On the other hand, there is no guarantee that Decentraland, The Sandbox, or Axie Infinity will emerge as top players in the metaverse in the long run. Technology hopes to win the metaverse. If their practices are successful, current crypto metaverse leaders can also become.
Investors may want to take the big risk to consider buying small positions in all three of these cryptocurrencies. But security investors are better off leaving.