Top 5 Metaverse Coins to Invest In 2023
Metaverse tokens have been among the best-performing coins of the 2021 crypto rally, appreciating by more than 10,000% and offering triple-digit gains for their holders.
While some of these tokens have slumped along the broader crypto market recently amid a global market downturn, metaverse tokens still have vast potential. This is particularly true when considering that the metaverse will play a crucial role in our digital lives.
Therefore, we have curated this blog post to help you find the most promising metaverse token to invest in in 2023.
Best Metaverse Tokens to Buy Now
The good news is that because the metaverse projects are fairly new, coin prices are quite low, well below $1 in many cases and less than 1 cent in some. This opens up investment opportunities for almost anyone. At the same time, it does not mean that all projects are worth your money.
As a matter of fact, industry insiders say the current bear market is likely to shake up “bad players” — developers who have focused more on building their fortunes than building their projects.
It is ideal to buy those metaverse coins that have shown potential through performance, utility, or powerful financial backing, or all three. Here are some promising metaverse crypto coins for 2022.
1. Decentraland (MANA)
Decentraland is a 3D world that users can access for free in a browser. Its active ecosystem hosts countless companies. Users create everything in this metaverse reality, from scenes and establishments to entire towns and space adventures.
The platform’s native token is MANA, which allows players to buy, sell, or trade packs of LAND (a non-fungible digital asset). Over the past year, the price of MANA has increased by more than 4,000%.
Tokens.com, a publicly traded company that uses shareholder capital to invest in digital assets, bought virtual land on the platform for $2.5 million, while Decentral Games, a popular Decentraland platform, made more than $7.5 million in revenue in just three months.
2. The Sandbox (SAND)
The Sandbox is a virtual game world where users can create gaming experiences and monetize their content. It is one of the most popular platforms on the market, with a hundred sales every minute.
Players can use SAND, the platform’s native token, within the metaverse to purchase digital goods and engage in P2E. They also have the opportunity to truly own everything they collect in the game.
The Sandbox is a prime option for those venturing into virtual real estate. Like MANA, the price of SAND rose more than 900% at the end of last year. In the same period, the platform also sold more than $144 million in gross merchandise value.
Adidas then announced a partnership with Sandbox, while SoftBank Vision Fund 2 led a fundraiser that raised $93 million from investments in the platform.
3. ApeCoin (APE)
APE is an ERC-20 token, which means that it exists on the Ethereum blockchain. It is the government and utility token of ApeCoin DAO, meaning it allows holders to participate in the governance of the Ape ecosystem and gives them access to games and other products and services available only to ApeCoin holders.
Apecoin is the native token of Otherside, a metaverse game from Yuga Labs, which created the wildly popular Bored Ape Yacht Club non-fungible tokens. Yuga Labs recently raised around $320 million in a virtual land sale that allowed APE token holders to buy parcels on Otherside, Fortune reported.
Holders bought 55,000 lots, or “Other Works”, and 45,000 went to other people, such as Yuga Labs NFT project owners and developers. The sale generated so much traffic on the Ethereum network that it increased “gas fees,” the fee each user pays to make a transaction on Ethereum.
4. Gala (GALA)
Gala is a blockchain gaming platform that combines non-fungible tokens (NFTs) to create a blockchain gaming ecosystem where gamers can trade and own gaming assets on a global scale at any moment.
Gala Games’ purpose is to take the gaming industry to a whole new level by taking back control of the game for the players. According to the platform’s website, Gala Games’ goal is to create “blockchain games you’ll actually want to play.”
The platform’s native utility token, GALA, is used for network governance, node operator incentives, and in-game prizes for players participating in platform games.
Additionally, it can also be used as in-game currency to purchase NFTs and assets in the Gala store. As a blockchain-focused gaming platform, Gala allows users to use their unique NFT characters while playing the game.
5. Axie Infinity (AXS)
Released in 2020, Axie Infinity is one of the best metaverse coins that incorporates the play-to-earn mechanism. For those who are unaware of this concept, play-to-earn games allow users to generate rewards when certain tasks are completed, such as reaching a specific level. And this encourages users to interact with the broader Axie Infinity ecosystem.
Fundamentally, the end-to-end goal for players is to collect, breed, and breed digital animals. Once minted, it can be represented in the form of a unique NFT, which in turn can be sold on the open market. Like Decentraland and Sandbox, Axie Infinity is built on top of the Ethereum blockchain.
Axie Infinity also has its own native token: AXS. When AXS launched in early 2020, you would have paid just $0.15 per token. And, in November 2021, the same token reached highs of over $165. This translates into growth close to 110,000%. As such, this makes Axie Infinity one of the best Metaverse coins to buy for performance on the market.
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