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The metaverse has been making headlines in the crypto market in recent days. The metaverse offers a virtual world where businesses can boost more engagement with online-savvy clients.
Unlike past opinions that the metaverse will be a virtual world that solely relies on blockchain and cryptocurrency technology, it has now started to find its way into traditional tech giants. Facebook recently announced that it would be changing its name to Meta to offer its clients a virtual world experience.
Microsoft is also working on the virtual world, according to a recent announcement. Legendary brands such as Nike are also looking towards the metaverse, with the clothing brand filing a patent to use its logo on the metaverse.
The crypto sector is not being left behind in venturing into the metaverse. In fact, some coins in the market have been operating in the virtual world for a long time, and they are only starting to gain popularity.
Some of the top 6 metaverse coins to invest in now include the following:
1) Decentraland (MANA)
At the top of the list, we have Decentraland. This network has been offering access to virtual lands and properties since its inception. Decentraland has made notable gains, and it has seen increased adoption over the years.
When Facebook announced that it would be rebranding into Meta, MANA was among the tokens that made notable gains. It is seeing a lot of interest from investors because it was among the first platforms to launch with the sole purpose of giving people a chance to own a piece of the virtual world.
Decentraland is also one of the few projects that offer a real 3D experience regarding the metaverse. As one of the earliest projects, it has a strong technological foundation, showing that it does not derive its value solely on hype but on the potential of the underlying network. This is a major strength considering that most new metaverse projects are building out of the current hype.
The other strength of MANA as one of the top metaverse coins is that it has the highest valuation in coins that offer the virtual world experience. According to CoinGecko, this coin has a market cap of around $4.8 billion and ranks as the 42nd largest cryptocurrency in the market.
Its performance over the past month has also been impressive. In a month, it has gained by around 360%, and during this time, it reached a record high of $4.33. There is a chance that it will create more record highs because of the current hype about the metaverse.
To learn more visit our Investing in Decentraland guide.
2) The Sandbox (SAND)
The other coin that also makes for a good metaverse coin in the market is The Sandbox (SAND). Like Decentraland, The Sandbox also offers a virtual world based on blockchain technology.
However, there are key features that differentiate The Sandbox and Decentraland in terms of metaverse development. SAND allows users to develop, build, buy and sell digital assets in the form of a game.
The development behind this team is also one of its strengths, given that it has been working on metaverse development over the past four years. Hence, it only launched a metaverse experience recently, but it has made such notable gains in such a short time.
SAND makes for a good metaverse coin this month, given the news about the Alpha launch on November 29. The firm behind this project will be running an event where select users will have a chance to win up to 1000 SAND tokens and three exclusive NFTs.
The efforts that The Sandbox team has been putting across to make it gain more relevance in the metaverse have contributed to notable gains for SAND tokens. The token recently reached an all-time high of $4.64, and its current market cap sits at $3.5 billion, making it the 55th largest cryptocurrency by this metric.
To learn more visit our Investing in The Sandbox guide.
3) Axie Infinity (AXS)
The other coin that also makes for a good investment for those who want to have a piece of the metaverse is Axie Infinity. Axie Infinity is somewhat different because its metaverse experience is solely based on gaming experiences.
The gaming world is among the first initiatives to offer a virtual world experience, and Axie Infinity has made solid gains because of this aspect. Axie Infinity is a crypto game based on NFTs, and it allows players to breed, buy and sell NFT pets known as Axies.
It also offers a virtual world experience that allows users to buy plots of land and even establish a settlement in the said land. Such a play-to-earn experience creates an attractive selling point where users can redeem their in-game earnings and trade assets to generate real-life income.
The AXS token is the one that powers the Axie Infinity digital ecosystem. Like most metaverse coins, AXS has also reached an all-time high this month because of the growing hype about the metaverse. AXS currently ranks as the 26th largest cryptocurrency with a market capitalization of $8.4 billion. It is bound to make more gains because of the growing metaverse hype.
To learn more visit our Investing in Axie Infinity guide.
4) Enjin Coin (ENJ)
The other top metaverse coin that you should also consider adding to your investment portfolio is Enjin Coin. Enjin Coin is one of the oldest blockchains in the market, and it has built a solid space in decentralized applications.
However, the coin is now a top metaverse coin worth considering because of the recent launch of Efinity. Efinity will be a new blockchain that the Enjin development team will work on to allow developers to integrate with the metaverse.
Enjin recently launched a $100 million fund tasked with supercharging the development of a new decentralized metaverse. Given that Enjin has already emerged as one of the leaders in NFT development, it would also make similar gains in the metaverse development. As such, its native coin could see notable gains.
Over the past month, Enjin Coin has gained over 82%, and most of the gains have come from the recent announcement that the network would launch Efinity to venture into the metaverse.
To learn more visit our Investing in Enjin Coin guide.
5) Gala (GALA)
The other top metaverse coin that you should also consider investing in is GALA. Gala Games was created in 2020, and it is currently one of the largest GameFi projects in the market. According to the name, Gala Games is a blockchain-based game that focuses on attracting people who want to have a 3D virtual gaming experience.
One of the features that set Gala Games apart from the other similar initiatives in the market is that it is readily available for non-technical users who want to have a play-to-earn experience. It hides all the technical stuff away to ensure that it does not deter those who do not have this knowledge from investing in the market.
Like most metaverse coins, GALA has been on a major gaining journey this month. The monthly gains for the coin currently stand at over 350%, making it one of the best performing metaverse coins in the market.
Following the notable monthly gains, GALA has reached an all-time high price of $0.48, which was achieved on November 21. Currently, GALA has a market capitalization of over $2.8 billion, making it the 69th largest cryptocurrency by this metric.
Visit our How to Buy Gala Games guide.
6) SushiSwap (SUSHI)
Coins that are popular with decentralized applications have made notable gains in regards to the metaverse. SushiSwap is one of the blockchain networks that come in as highly recommended in terms of the potential of its underlying network.
However, this development team wants to go beyond the offerings of DeFi and find a space in the rapidly growing metaverse sector. Recently, the platform announced that it will b launching a metaverse project dubbed Shoyu. To support the development of the project, SushiSwap set aside a fund for the same.
This metaverse is expected to see notable gains because it will support non-fungible tokens (NFTs). NFTs and the metaverse are two sectors that have made notable gains and seen growing adoption. The combination of the two on the Shoyu platform is expected to see major adoption.
In terms of market capitalization, SushiSwap ranks as the 92nd largest cryptocurrency, with its market cap value standing at over $1.6 billion. It has also recorded a surge in trading volumes during this period, with the largest amount coming after the launch of the Shoyu metaverse platform was announced.
To learn more visit our Investing in SushiSwap guide.
The metaverse is currently a heated topic of discussion in the cryptocurrency sector. The concept of the metaverse is now new, but the growing adoption of cryptocurrencies blockchain and the development of Web3 have made it possible for this technological advancement to show signs of notable gains and attract a lot of technological players.
Many metaverse projects in the market have been launched. Some are old, while some have only been launched recently to tap into the recent hype.
Above are some of the top metaverse coins in the market, which have made notable gains. These coins have made notable gains since the metaverse started becoming mainstream. However, there are many more coins whose underlying networks offer metaverse experiences. As an investor, it is advisable to do your own research to know the coin well suited to your needs.