on the crypto
Cryptocurrencies could be key to monetizing the metaverse. And you don't have to wait for who knows what opportunities to profit. Here are the top three metaverse cryptocurrencies you should keep an eye on if you wish invest in this new sector.
1.Axie Infinity
Axie Infinity is currently the largest cryptocurrency in the Metaverse industry. Its market capitalization exceeds $ 7,8 billion with 60,9 tokens in circulation.
Built on the Ethereum blockchain, Axie Infinity is a fighting game inspired by old school Japanese video games (Pokémon and Tamagotchi). Players can create, augment, trade and fight with creatures called "Axies" which are non-fungible tokens (NFTs). Axies can consist of more than 500 body parts. They can breed up to seven times with other Axies to generate new offspring, which can be sold on the gaming platform.
Axie Infinity Shards serves as the government token used in the Axie Infinity platform. Players can earn tokens in a variety of ways, including raising Axies, competing in matches, and winning tournaments. AXS Tokens also give players a rating on how funds are used in the community treasury. They can also be wagered to claim rewards.
This cryptocurrency has been a big winner over the past 12 months, skyrocketing by more than 29,700%.
2. Decentral and
Decentraland is not far behind Axie Infinity. It has nearly 1,8 billion tokens in circulation and a market capitalization of $ 7,2 billion.
Like Axie Infinity, Decentraland is a virtual reality platform built using the Ethereum blockchain. The virtual world within Decentraland is called the Metaverse and is divided into 90.601 plots of land, each of which is an NFT. Users can develop their packages and monetize them however they want.
MANA serves as Decentraland's native cryptocurrency. It can be used to purchase plots of land (LAND tokens), avatars, wearables and other products on the platform market.
Over the past 12 months, the price of MANA has increased by 175%. Most of this gain has been made since the end of October.
3.Sandbox
Another metaverse token that also stands out as one of the most popular cryptocurrencies on the market. Sandbox (SAND) currently has a market capitalization of $ 4,2 billion and over 892 million tokens in circulation.
Sandbox is similar to Decentraland in several respects. It is a virtual world based on the Ethereum blockchain. It allows users to buy and sell NFT plots of land that they can develop and monetize, including creating games that can be played by other users.
SAND is the token utility used within the Sandbox ecosystem. The maximum token supply has been set at 3 billion. Gamers use SAND to purchase digital assets, play in the virtual world, and participate in decentralized governance.
Sandbox has made a staggering gain of over 10.300% in the past 12 months. As in the case of Decentraland, SAND has been performing particularly well since the end of October, with the token increasing its value by more than 6 times.
