As evident from the historical price references in the above article, however, purchasing these coins is an enormous risk—and should be classified as a gamble rather than an investment. Axie Infinity took the crypto world by storm during the Covid-19 pandemic, emerging as the biggest “play-to-earn” game, blazing a trail for the likes of Sandbox and Decentraland. The hope for this project is that Decentraland becomes a place where more and more users choose to hang out, conduct business and transact daily.
Ledger also has a built-in Swap feature that allows you to buy and sell cryptocurrencies via partner exchanges like Changelly and Moonpay. So far, Ledger supports top metaverse cryptos like Decentraland (MANA), Axie Infinity (AXS), The Sandbox (SAND), Theta Network (THETA), and Enjin Coin (ENJ). Currently, the most prominent metaverse platforms for buying virtual land are blockchain-based Decentraland and Sandbox on the Ethereum blockchain, run by a Decentralized Autonomous Organization (DAO) – a group of platform users. However, one of the big questions in the metaverse land market business is which metaverse platform is the best one to buy virtual land on. On the safe side, companies are buying land on some of the largest top metaverse platforms, such as The Sandbox, Decentraland, or Meta’s Horizon Worlds, with the highest user count and widest audience. After you buy metaverse land, owning a digital land plot is similar to physical real estate.
The future of the metaverse?
Choose a reputable crypto exchange, like Coinbase, Kraken, or Uphold, where you can buy metaverse tokens by depositing U.S. dollars using a payment method that suits you. Owning a plot of virtual land means you get the right to build anything you want on that property. You could build revenue-generating services like casinos, clubs, stores, or event spaces, where you could either hold events, rent the space out for events, or rent it out to someone else to build on it to earn passive income. Reasons to buy virtual land in the metaverse don’t differ much from the real world – in 2021, a digital plot of land next to Snoopverse – Snoop Dogg’s virtual world on the Sandbox platform was sold for a whopping $450,000.
It’s important to remember that, like all crypto assets, metaverse crypto assets are high-risk investments. Therefore, conducting thorough research is essential before making the decision to add metaverse tokens to your crypto portfolio. Arguably the most compelling argument for trading on decentralized exchanges is that situations like the FTX collapse cannot affect user funds as assets are held in users’ wallets, separate from a centralized exchange wallet. Therefore, if a decentralized exchange gets hacked or the company operating it goes bankrupt, user funds remain unaffected. Digital real estate seems to work similarly to the demand and supply of physical property, where supply and demand and scarcity drive property prices up or down. Metaverses also offer only limited plots of land, which means unique investment opportunities are present.
Virtual lands are digital images and programmable spaces on different metaverse platforms, where users can build and design their houses, virtual NFT art galleries, stores, or virtual event spaces, and much more. Virtual land is especially popular on two of the largest blockchain-based platforms Decentraland and the Sandbox. However, digital assets such as virtual land are still highly speculative and come with heightened risks for both beginners and seasoned investors, which is why it is crucial to do research before purchasing metaverse real estate. As some parts of the metaverse platforms are increasingly popular for user traffic, it’s a new opportunity for advertisers to promote products and services to the platform users. As metaverse coins become more popular, a growing number of both traditional and cryptocurrency exchanges and brokers now support these assets.
Indeed, a Metaverse can exist on a standalone blockchain custom-built to support a specific virtual universe. Backed by big names like venture capitalist (VC) Andreesen Horowitz, its performance has been brief but turbulent. Initially, ICP gathered a towering market cap of more than $45 billion when the token traded for around $700. Cryptocurrency is beginning to play a key role in certain precincts of this brave new world. However, its role in shaping the metaverse has been complicated by the big declines of the crypto winter throughout 2022.
In addition, Stacks holders can stack (as opposed to staking) their own STX coins to earn BTC rewards. Voyager offers the best variety of metaverse crypto, supporting Decentraland (MANA), Axie Infinity (AXS), The Sandbox (SAND), ApeCoin (APE), and Enjin Coin (ENJ). A centralized exchange (CEX) is a cryptocurrency exchange where the operating company acts as a middleman between buyers and sellers.
From our count, eToro supports well over a dozen of the most popular metaverse coins. It’s also cheap and easy to use — with an incredibly low $10 minimum trade size. Metaverse cryptos, like all digital assets, are subject to the whims of supply and demand. Changes in this balance can lead to changes in the value of the asset over time.
Since then, it has emerged that blockchain technology will likely play a fundamental role in powering a range of new metaverses — thanks to its impressive security, resistance to censorship, accessibility, and smart contract capabilities. As NFTs become increasingly woven into the metaverse, crypto coins/projects operating in the metaverse will need an intuitive and capable platform for creating and deploying their NFT collections. A number of metaverse and metaverse platforms also integrated Chainlink’s oracles and/or VRF (Verifiable Random Function) to power their internal economies and game mechanics. This project aims to build a shared multiverse through its planet-like metaverse, which integrates NFT ownership, play-to-earn dynamics and metaverse world-building and also offers decentralized decision-making. Love Hate Inu is the world’s first blockchain-based platform offering an online voting forum through crypto staking. $LHINU, an ERC-20 token and the native coin of this platform, can be staked to take part in multiple meme polls.
Interested readers can read the Pikamoon whitepaper to learn more about this upcoming cryptocurrency ecosystem. TARO can be used within the Taro Planet – which is the virtual environment created by RobotEra. TARO is used to purchase Robots, which are 3D NFT characters that help players rebuild the planet. DeeLance accepts crypto payments and charges some of the lowest fees in the industry. DeeLance will also offer an NFT marketplace through which freelancers can mint their works into NFTs.
Once you identify the trading pair you need, make the trade and convert your fiat to crypto, then to the Metaverse crypto of your choice. Axie Infinity is a popular Play-to-Earn (P2E) gaming Metaverse powered by the Ethereum blockchain. In the follow-up section, we will be considering some of the best Metaverse crypto coins to buy.
Any references to past performance, regarding financial markets or otherwise, do not indicate or guarantee future results. Forward-looking statements, including without limitations investment outcomes and projections, are hypothetical and educational in nature. The results of any hypothetical projections can and may differ from actual investment results had the strategies been deployed in actual securities accounts. In this article, I’ll walk you through four types of platforms where you can buy, sell, store and earn interest on your metaverse crypto. It makes several blockchains possible to link and exchange information without any hassle. Its flexibility in the interoperability system is also the winner, thanks to several tools like Truffle, MetaMask, and Remix.
According to the platform roadmap, Love Hate Inu looks to dive into the metaverse as it plans to integrate multiple metaverse experiences into its platform. As the metaverse is expected to grow to a market cap of $5 trillion by 2030, this could be a great way for the platform to grow in the future. These are tokens designed to be used within the virtual universes called Metaverses for various reasons, including value transfer, staking, and gaming, among others. This process, in essence, describes the utility of the ENJ token within the Enjin ecosystem. The asset also serves as a medium of exchange, a payment tool, and a governance token. It is worth mentioning that Decentraland also has another native non-fungible token called LAND that represents all the parcels of land on the platform.
A Closer Look at the Best Metaverse Coins to Invest in
The best to do so is by creating a confirmed account in the platform and explore your options. While metaverse might seem like a new concept, the idea of a virtual world and metaverse term isn’t. Technically, it’s been around since 1970, when a computer-generated virtual tour of Aspen, Colorado, called Aspen Movie map, was created. We are already spending hours on end on our phones, and no matter how strange it may sound, the metaverse is likely to become a big part of our lives. If you want to profit early, you can partake in the early stages of the metaverse development – one way to invest is metaverse land.
- According to the platform roadmap, Love Hate Inu looks to dive into the metaverse as it plans to integrate multiple metaverse experiences into its platform.
- Some crypto trading apps, such as Robinhood, even allow you to start with as little as $1.
- The ones in green are hubs called “Genesis Plazas”, which are the central areas of this metaverse – think of them as city centers, where plots of land are the most expensive.
- Owning a plot of virtual land means you get the right to build anything you want on that property.
Most of these Metaverse platforms will require that you hold their native tokens within supported wallets. Most are based on Ethereum, but if you are interested in participating within an obscure Metaverse that is not on some leading blockchain networks, you will need to transfer your newly acquired coins to their native cryptocurrency wallets. Several metaverse platforms have created marketplaces where users can buy and sell digital land and other collectibles in the form of NFTs. CEXs offer lower trading fees, a broader selection of cryptocurrency, better price quotes, and built-in crypto wallets for secure storage. All the most popular CEXs support metaverse cryptocurrencies, including Binance, Coinbase, Crypto.com, Kraken, and Gemini.
It will also make integrating atomic swaps far easier for developers — a crucial function for interoperable metaverse dApps. Since its launch in 2015, Ethereum has gone on to become the dominant smart contract platform. Battle Infinity took the market by storm in July after the project raised an impressive 16,500 BNB (around $5 million) in just 25 days through its presale. The main game – based on 90s craze Tamagotchi – is expected in 2023, as are two other mini-games and the AR app at the end of the year.
The investments identified on the MoneyMade website may not be purchased through MoneyMade; rather, all transactions will be directly between you and the third-party platform hosting the applicable investment. The information contained herein regarding available investments is obtained from third party sources. While MoneyMade generally considers such sources to be reliable, MoneyMade does not represent that such information is accurate or complete, and MoneyMade has not undertaken any independent review of such information. In addition to that, you might want to prioritize platforms with millions of users, years of operational history, high liquidity, great user experience, and battle-tested security. Keep in mind that each platform has its own strengths so you need to decide which one best suits your needs.
In this guide, you will learn about metaverse crypto coins, what they are, which ones are good to invest in, how to invest, where to buy them, and finally, how to store them. For further details on the metaverse, read our detailed guides on How to Invest in the Metaverse, How to Buy Land in the Metaverse, and How to Invest in Metaverse Games. Below are metaverse tokens listed in descending order by size of market capitalization (market cap). These options are inherently risky and should be considered a speculative investment.
This makes it one of the best metaverse coins to buy if you take into account its performance so far. Pikamoon is an RPG (Role-Playing Game) that offers earning opportunities through its metaverse environment. Offering play-to-earn features, users can leverage $PIKA to buy in-game NFTs and compete in online tournaments and quests.
These purchases can be made with the native token, which has recently been launched on presale. Once you have created an account on one of the centralized platforms from the previous step, you need to transfer some fiat currency or, if you have other cryptocurrency assets, transfer crypto to that exchange. Metaverse crypto coins or tokens are digital assets used natively within these immersive virtual worlds. In the previous section, we did mention that the blockchain is one of the technologies used to build a Metaverse. If you’re going against the conventional route, you can also use a decentralized exchange (DEX) to purchase metaverse coins. This means Know Your Customer (KYC) is not required—rules that help verify users and prevent criminal and money laundering activity.
Best Metaverse Crypto Coins to Buy in 2023
Alternatively, you can head to your chosen metaverse platform, in this case, the Sandbox, and purchase virtual land NFTs from there. On one side, there are centralized metaverse platforms such as Roblox or Niantic, or Meta-owned Horizon Worlds; others are decentralized blockchain and crypto-based metaverse platforms like The Sandbox, Decentraland, or Somnium. Despite the recession and bear market, and sky-high land prices, interest in metaverse land and virtual real estate hasn’t seemed to stop, with virtual real estate sales soaring in 2022 and expected to keep growing to 5.37 billion by 2026. As with all asset classes, there are winners and losers among metaverse crypto.
LAND is mostly used for governance enabling community members to participate in policy formations and prove ownership within the ecosystem. But the user experience with DEXs is unintuitive and unique to cryptocurrency. There is also no customer support, or recourse, should a mistake be made and your crypto is sent to the wrong place. Therefore, this route should be avoided unless you’re a highly experienced trader.
- All the most popular CEXs support metaverse cryptocurrencies, including Binance, Coinbase, Crypto.com, Kraken, and Gemini.
- This guide details a simple step-by-step process about where and how you can buy virtual land in the metaverse.
- If you place a market order, your purchase will be completed within seconds and the tokens will appear in your trading account’s wallet.
- You could build revenue-generating services like casinos, clubs, stores, or event spaces, where you could either hold events, rent the space out for events, or rent it out to someone else to build on it to earn passive income.
- It was designed to power the growing ecosystem around the popular Bored Ape Yacht Club.
To open an account on a cryptocurrency exchange, there are certain requirements. Investing in cryptocurrencies, Decentralized Finance (DeFi), and other Initial Coin Offerings (ICOs) is highly risky and speculative, and the markets can be extremely volatile. This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies nor can the accuracy or timeliness of the information be guaranteed. The cheapest way is to use bank account to buy Bitcoins first or to buy the Metaverse ETP right away. The fastest way is to use a credit card but you will then be charged higher fees.
The ApeCoin (APE) token is the native transactional unit within the Otherside metaverse and will be used as a peer-to-peer currency between users. The Otherside is one of the few blockchain-based metaverses to focus on interoperability, and blends aspects of massively multiplayer gaming and Web3 accessibility to produce a bustling and immerse digital world. One of the first blockchain-based crypto average down calculator metaverses, Decentraland hit the market with a bang in February 2020. In recent months, the Cosmos ecosystem has expanded dramatically, and it is now widely expected to host the next generation of breakthrough blockchain applications — including metaverse and DeFi platforms. The token is currently trading at just under $300 — which is down around 57% from its all-time high.