- The term metaverse keeps on gaining more and more popularity over recent months.
- In fact, social media titan Meta has shared its plans on creating its own metaverse.
- This article lists down 5 prominent metaverses you and other investors should keep an eye on.
The concept of the metaverse started as a buzzword to a concept that has been garnering mass adoption in recent months. Even Meta, the social media titan, is thinking of creating its own metaverse at this stage.
The following are 5 of the prominent metaverse-related tokens that you should keep your eye on. They are not all necessarily metaverses, as some of them are technologies that exist to help improve the concept of metaverses.
Decentraland is a Decentralized Virtual Reality (VR) powered by the Ethereum Blockchain. It is currently one of the top metaverses out there. In fact, data from CoinGecko puts it in second place for metaverses in terms of market cap.
Over the course of March 24-27, Decentraland held its Metaverse Fashion Week – the first of its kind in the metaverse. Brands for the event included Dolce&Gabbana, Elie Saab, Tommy Hilfiger, and more.
According to CoinGecko, at the time of writing MANA trades at a price of over $2 with a growth rate of 0.8% in the last 24H. MANA has a market capitalization of over $3.5 billion with a 24-hour trading volume of almost $230 million.
The Sandbox is a decentralized community-owned virtual world. In this metaverse, players can host custom games and events while having true ownership of their assets. Sandbox often is right behind Decentraland in terms of metaverse rankings; right now, according to CoinGecko, it is in third place for metaverses in terms of market cap.
On April 2, Snoop Dogg held a virtual concert in the metaverse.
According to CoinGecko, at the time of writing SAND trades at a price of over $3 with a growth rate of 1.6% in the last 24H. SAND has a market capitalization of over $3.5 billion with a 24-hour trading volume of over $300 million.
Theta Network is a decentralized video streaming network powered by blockchain technology. Theta allows users to watch video content and has developed technology integral to the metaverse. For example,
- Rendering VR worlds in real-time
- Theta Video API
- Decentralized Video Distribution
- Video-based NFTs
These elements would be useful building blocks for future metaverse developments.
According to CoinGecko, at the time of writing THETA trades at a price of over $3 with a growth rate of 1.2% in the last 24H. THETA has a market capitalization of over $3 billion with a 24-hour trading volume of over $122 million.
AXS is the governance token of Axie Infinity, an NFT-based online metaverse game. Axie Infinity allows players to collect and mint NFTs called Axies, and earn profits by doing so. According to CoinGecko, the AXS token is currently the highest metaverse token in terms of market cap.
On April 7, Axie Infinity released their long-anticipated ‘Origin’ update. It is a huge update full of new gameplay changes and the much-awaited burn-and-spend features for SLP.
However, on March 23 Axie Infinity fell victim to a Ronin Network hack where hackers took $600 million.
According to CoinGecko, at the time of writing AXS trades at a price of over $54 with a growth rate of 17% in the last 30 days. AXS has a market capitalization of just over $4 billion with a 24-hour trading volume of over $385 million.
Stacks is a layer-1 blockchain solution designed to bring smart contracts and dApps to Bitcoin. As a result, Stacks gives users the ability to create a metaverse ecosystem around the market’s most valued network – Bitcoin.
On March 7, Unbanked announced support for the STX token. As a result, users of the Unbanked debit card are now able to use the STX token to make purchases.
On March 30, Hiro Wallet announced that US customers can buy STX directly through credit, debit, or bank transfer using the Hiro Wallet browser extension.
According to CoinGecko, at the time of writing STX trades at a price of over $1 with a growth rate of 1.3% in the last 24 hours. STX has a market capitalization of over $1.3 billion with a 24-hour reading volume of $16.3 million.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.