With the renaming and rebranding of the world’s largest social network, Facebook, to Meta, the Google query “Metaverse” skyrockets in the trending chart. What are metaverse tokens and how to buy metaverse coins are trending in. We’re pretty sure you’re one of them. But we’re not sure if you got your answers about the metaverse or not.
But don’t worry! This blog will explain what metaverse is, what Metaverse tokens are, why you should invest in Metaverse coins, and how to purchase Metaverse tokens. Not only that, but we’ll learn about the technology that supports this new ‘thing,’ and why metaverse is considered the next evolution of social connection.
Learn about cryptocurrencies and Metaverse here
Let’s begin with an overview of the metaverse.
What Is Metaverse– A Shared Virtual World Environment?
The best way to get a fundamental knowledge of any new topic is to break down the term into multiple words. For example, the term metaverse is formed by merging two words: Meta + Universe. Meta is a Greek word that means “beyond.” It also conveys transcending reality, whereas the term Universe refers to the entire world.
Metaverse refers to a virtual space or a digital world in its simplest form. However, is this as simple as it looks? Certainly not. This fictitious universe covers a range of revolutionary and unique products, services, and concepts that we can’t even imagine!
In other words, metaverse is a technology combination that integrates virtual reality (VR), augmented reality (AR), and video to allow users to live in a digital universe. The project aims to connect our virtual and real lives more fluidly.
The goal is to build a more immersive internet. Individuals may use technology such as AR and VR to interact in virtual environments and experiences rather than the physical world. According to Facebook, users will perform a range of things in metaverse just as they can in real life. For example, people can work, socialize, and play in the metaverse.
Not only these basic kinds of stuff, but they will be able to buy lands, attend virtual concerts of their favorite artist or band, travel around the city, visit their favorite cafés and joints, meet their friends, attend events, buy & exchange digital assets, exchange NFTs and cryptocurrencies, and even purchase products and services using bitcoin. In a nutshell, it will let people do all of the tasks similar to what they do in the real world.
If you read the preceding paragraph carefully, you may have noticed that people can not only enjoy and do things in the metaverse, but they can also buy things and stuff using cryptocurrency. However, keep in mind that metaverse does not accept all of the cryptocurrencies we have. Rather, it only accepts certain crypto coins known as Metaverse tokens like MANA, SAND, AXS JEWEL, GALA, and others.
The question now is, what exactly are the Metaverse tokens? Let’s find out.
Top Cryptocurrencies to look out for in 2022 here
What Is Metaverse Tokens– Virtual Reality Platform Currencies
Metaverse tokens, also known as Metaverse coins, are units of virtual currency or digital assets that can be used to make digital transactions within the metaverse. Moreover, while certain Metaverse tokens can only be spent within the metaverse, others can be purchased on crypto exchanges such as Fasset.
Some of the most promising or well-known Metaverse tokens are Decentraland (MANA), The Sandbox (SAND), Solana (SOL), Terra (LUNA), Polygon (MATIC), Fantom (FTM), Enjin (ENJ), Render Token (RNDR), Harmony (ONE), and Axie Infinity (AXS). In addition to these top Metaverse coins, there is a slew of other Metaverse cryptocurrencies as well.
The Metaverse coins MANA and SAND were among the top performers in 2021. These coins have increased in value by 100s of percent since the beginning of the year, and they are currently among the top 100 cryptocurrencies by market cap. However, perhaps the most critical factor for their rapid growth was the renaming of Facebook to Meta.
The rebranding has resulted in the widespread acceptance of Metaverse-focused tokens like SAND and MANA. Other vital factors that boosted Metaverse crypto values, in addition to this development, were:
In November, Tokens.com, a Canadian investment firm specializing in decentralized finance (DeFi), reportedly paid $2.5 million for a virtual property on the Decentraland (MANA) platform. The deal was one of the largest in Metaverse history.
In December, GameStop, a popular gaming hardware manufacturer, also announced that it would begin accepting MANA, SAND, and a few other cryptocurrencies as payment for its products.
PwC Hong Kong, a subsidiary of PricewaterhouseCoopers, reported in December 2021 that it had purchased land in The Sandbox Metaverse.
In December, Sneaker giant Adidas purchased “adiVerse” virtual land in the blockchain-based world The Sandbox, implying that the corporation will provide VR products.
In addition to these major deals and developments, several minor movements played an essential part in driving Metaverse coin prices higher.
So that’s the crux of what metaverse is. We’ll look at why you should invest in metaverse or buy Metaverse tokens.
Read about metaverse investments here
How To Invest In Metaverse?
The five developments listed above are enough to grasp the potential of the metaverse. When major corporations such as Adidas, GameStop, and others invest millions of dollars in the metaverse, there must be a reason, right? As per our study, the following are some of the factors that make metaverse a viable investment option:
Following the coronavirus pandemic, our way of life, communication, socializing, and workplaces have all changed dramatically. Many of these concepts have been fully or partially moved from the real world to the virtual world. And we’ll see more of it in the future. In such a case, metaverse will be a game-changing concept that will allow us to experience the new way of life and communication fully.
Overall, metaverse has a lot of potentials and a promising future. Meaning there is minimal risk in buying Metaverse cryptocurrencies. But, yet again, before you make your move, you should educate yourself on the various direct and indirect ways to invest in the metaverse, which include:
Buying Metaverse tokens
Buying in-game Non-Fungible Tokens (NFTs)
Purchasing virtual lands in the metaverse
These are the three direct ways to invest in the metaverse. However, it should be noted that there are other indirect ways to invest in the metaverse. You can, for example, invest in any product or company that is developing Metaverse technology, such as VR/AR products or others.
Even companies who manufacture biohacking items that modify your brain chemistry are also Metaverse companies. Or, you can even invest in Metaverse-related corporations such as Apple or Facebook.
However, buying Metaverse tokens is the most simple compared to the other metaverse investment options. For this reason, if you are a beginner, you should start with Metaverse coins. The following section will walk you through the process of purchasing Metaverse tokens.
How To Buy Metaverse Tokens?
You can trade Metaverse coins via cryptocurrency exchanges like Fasset. The process is relatively easy and comprises only a few steps outlined below.
Step 1: Sign up for the Fasset cryptocurrency exchange.
Step 2: Select a payment method.
Step 3: Purchase and sell metaverse and other cryptocurrency tokens.
That’s it! Additionally, the Fasset is an innovative, user-friendly, and secure crypto exchange platform that is excellent for novice and experienced traders.
In addition to trading cryptocurrencies, the Fasset app will allow you to perform a variety of other trading-related activities such as keeping track of your investment, getting insights into your investment via portfolio dashboard, sending and receiving cryptocurrencies within the app, reviewing past transactions, and smoothly withdrawing your money, to name a few.
You now have a solid understanding of Metaverse tokens. However, as a beginner, you must still be unsure about which Metaverse currencies to invest in. Don’t worry! Let us help you with this one as well.
Top 5 Metaverse Tokens To Watch In 2022
The following are the top 5 Metaverse cryptocurrencies and their prices, volume, supply, and market value as of December 28th, 2021. Analyze each one and choose your favorite.
The Sandbox (SAND)
The Sandbox is a Metaverse gaming ecosystem built on Ethereum that allows you to create, share, and monetize assets and games.
Price: $6.18
Market Capitalization: $5,724,860,102
Volume (24h): $1,515,871,550 (243,471,686 SAND)
Circulating Supply: 919,498,319 SAND
Decentraland (MANA)
Decentraland (MANA) is an Ethereum currency that supports the virtual property platform Decentraland. MANA– a native token of Decentraland, can be used to purchase virtual land plots in Decentraland and in-world products and services.
Price: $3.60
Market Cap: $6,621,916, 903
Volume (24h): $911,621,997 (251,180,733 MANA)
Circulating Supply: 1,824,547, 835 MANA
Axie Infinity (AXS)
Axie Infinity is a blockchain-based game where players combat, collect and develop a digital kingdom for their pets. It has a circulating supply of 60,907,500 AXS coins and a maximum supply of 270,000,000 AXS coins.
Price: $102.68
Market Cap: $6,266,813,838
Volume (24h): $330,057,266 (3,207,844 AXS)
Circulating Supply: 60,907,500 AXS
Enjin Coin (ENJ)
Enjin Coin (ENJ) is an Ethereum token that intends to make non-fungible tokens (NFTs) more accessible to individuals, organizations, and brands. It also enables developers to create things for gaming environments on the Enjin platform.
Price: $2.95
Market Capitalization: $2,511,602,877
Volume (24h): $366,152,200 (123,440,604 ENJ)
Circulating Supply: 846,734,705 ENJ
DeFi Kingdom (JEWEL)
DeFi Kingdoms is a game built on the Harmony blockchain. This game has many features, including its currency, $JEWEL, and NFTs. There are 63 million JEWEL coins in circulation, with a maximum supply cap of 316 million.
Price: $13.72
Market Cap: $869,897,346
Volume (24h): $34,711,827
Circulating Supply: 631,245, 24 JEWEL
These are the top 5 Metaverse tokens that you should buy in 2022. All of these cryptocurrencies have a solid foundation and a promising future. But as always, do your research and take professional advice before you jump in.
Conclusion
This brings us to the end of this blog post, Metaverse Tokens: What, Why, and How to Buy Metaverse Tokens. We hope that this information will help you expand your understanding of Meta currencies and cryptocurrency in general. Continue reading our blogs to discover more about cryptocurrencies, NFTs, and virtual worlds.