Metaverse and cryptocurrency are two different areas – like chalk and cheese. Perhaps, crypto enthusiasts predict that they will eventually depend on each other. Do these two mutually exclusive worlds meet? Indeed, blockchain lays the foundation and connects these two decentralized worlds.
Blockchain is the bridge that drives the metaverse and crypto verse alike. What are metaverse coins? In simple terms, they are the coins we use as a medium of exchange for transactions in the metaverse.
That said, the metaverse market capitalization is more than $500 million. That’s why tech giants like Google, Microsoft, and Facebook compete to enter the untraversed metaverse arena with diverse metaverse crypto projects.
The article explores Facebook Meta’s new feat in the metaverse and the upcoming metaverse projects.
Does Facebook Meta have a Cryptocurrency?
Metaverse is a virtual world where users can go anywhere or be anything they want. However, a significant gap exists between contemporary web 2 and the immersive metaverse. How to overcome the gap?
Foreseeing the immense potential, social media giants like Facebook are penetrating this space. Hence, the tech giant launched the Facebook cryptocurrency – Diem.
Now comes an important question. How can people enter into the metaverse? Generally, users can experience the metaverse through Crypto, NFTs, and stocks. Metaverse offers an immersive experience with virtual reality, augmented reality, NFTs and Crypto.
What Crypto Is Facebook Using For The Metaverse?
Diem, formerly known as Libra, is the cryptocurrency of the social media giant Facebook Meta. The Facebook meta crypto was announced in 2019 to serve as a stablecoin. Later, the conglomerate stated that rather than being a dollar- rival, Diem aims to establish a dollar-based stablecoin. Consequently, Facebook Meta also launched Novi, the crypto wallet for Paxos Dollar rather than Diem stablecoin.
The Facebook metaverse crypto is an interactive environment combining blockchain and the internet. And the current Facebook metaverse coinmarketcap price is USD 0.000125.
Does The Metaverse Have A Cryptocurrency?
The metaverse crypto list includes the following top metaverse coins:
ApeCoin is a well-known cryptocurrency, a utility token for the Bored Ape Yacht Club(BAYC) community. APE drives the governance in the BAYC ecosystem. Furthermore, Ape Coin-holders can be a part of the policy decision-making and fund management, molding the future of the BAYC ecosystem.
Market Cap: $1.4 billion
- Axie Infinity(AXS)
Axie Infinity is a popular game where the players set unique monsters against each other to win game tokens. Axie Infinity belongs to the “play-to-earn” game category, emerging as a trailblazer for coins like Sandbox and Decentralland. What makes them so unique?
Unlike other centralized games, Axie Infinity depends on the blockchain network, and you can purchase monsters in the form of NFT and tokens – AXS – and is a prominent bet in the crypto market.
Market Cap: $645 million
- Sandbox (SAND)
Sandbox, founded in 2011, is a virtual world that enables gaming enthusiasts to buy, sell, and trade in-game assets with multiple native tokens. SAND is its in-game currency that drives transactions on the platform. Moreover, it blends DAO (Decentralized Autonomous Organization) and NFTs(Non-fungible Tokens) to create a robust decentralized platform for gaming.
The following are the main products of Sandbox:
GameMaker: A tool that facilitates users to build and test the 3D games on their LAND using assets.
VoxEdit: A free software tool that provides a platform to users for 3D Voxel modeling and creation of NFTs.
Market Cap: $609 million
Decentraland is the first-ever virtual world created, owned, and traded by users. The metaverse provides a VR platform driven by the Ethereum blockchain. The native token of the metaverse is MANA which facilitates transactions within the metaverse.
Users can create digital avatars and various accessories on the marketplace. Furthermore, the users can buy and sell LAND, Estates, Avatar wearables, and names in the Decentraland marketplace.
Market Cap: $567 million
Which Crypto Is Investing In The Metaverse?
Metaverse coins are the ‘next big thing.’ Determining your best bet with roughly 237 cryptocurrencies in the crypto market can be confusing. Market Capitalization is an essential factor in finding the best metaverse projects.
In cryptocurrency, market capitalization is the figure you obtain after multiplying the total number of mined coins with the current price of a single coin.
The following is a complete list of the top 10 metaverse crypto that is worth investing in:
- Axie Infinity
- Internet Computer
- Theta Network
Which Cryptocurrency Will Rise In 2023?
Amidst the chilly crypto winter, metaverse crypto 2023 would stir up the crypto market with the immense user experience it renders. Although many metaverse projects bite the dust within a few days of their launch, a few resilient ones survive the storm.
However, with the expanding crypto market, predicting the future of these budding pawns is arduous to determine who ultimately makes it to the end.
In the face of challenges, here are a few top picks for the upcoming metaverse projects:
Meta Masters Guild – Future Metaverse Gaming Project
Fight Out – Best Metaverse Crypto Coin in 2023
RobotEra – Metaverse Builder Game with Custom Creations and Land Ownership
Calvaria – Best Metaverse Project for Hardcore Gamers
Tamadoge – Best Play-to-Earn Pet Game
Decentraland – Prominent Metaverse Project in Crypto
Axie Infinity – Metaverse Gaming Pioneer with in-browser gaming features
Sandbox – Community-Driven Platform rendering a fantastic gaming experience
Advantages of Metaverse
Access to diverse experiences, such as virtual, augmented, and blockchain.
High potential for returns in metaverse assets.
Increased investments in metaverse projects imply future success in the space.
The metaverse renders an unparalleled user experience, often known as the ‘next-gen immersive internet.’ Although the metaverse is still embryonic, crypto-enthusiasts are investing in them, prudent about the tremendous benefits they hold in the future. Over a few years, tech giants have invested millions in metaverse projects like virtual real estate. However, like every technology, there are pros and downsides.
For some, the metaverse is the future; for others, it is a frenzy fad. However, no matter what, you must acknowledge the host opportunities it holds.