Web3, Crypto, and the metaverse: Do you know what these three terms have in common? They are all current buzzwords in the technology industry. The metaverse and cryptocurrency are very different from each other.
As they develop, they may become more and more dependent on one another. The role that blockchain plays in cryptocurrencies and metaverse projects. This can speed up transactions and cut costs, among other benefits.
The metaverse is currently dominated by the video game industry. Digital products can be purchased by users of many of these games and services. These things are purchased by the majority of serious gamers.
Crypto and Metaverse Projects
Blockchain-based cryptocurrencies may permit metaverse commerce. Peer-to-peer transactions over the internet that are free and instantaneous are promised by cryptocurrencies. NFTs can be used to verify ownership of digital or physical objects. A couple of Nike tennis shoes that you wear in the metaverse can be an illustration of a computerized generation of a genuine buy.
If you’re worried that you missed out on the metaverse, don’t worry—you still have a chance. With a market value of over 5.6 billion dollars, Decentraland (MANA) is the largest metaverse cryptocurrency at the moment.
The LAND contract, which enables users to buy and sell virtual land on the network, is one of the so-called key smart contracts that powers the Decentraland metaverse and is held by its decentralized autonomous organization (DAO).
By enabling features like advertising, interactive games, and others, Decentraland users can easily monetize their LAND. As was mentioned earlier, MANA, the native token of Decentraland, is the metaverse’s currency. It can be used to purchase LAND, wearables, avatars, names, and a wide range of other items from the Decentraland marketplace.
The Sandbox (SAND)
SAND coin has soared close to 1,670 percent in recent months, making it a much bigger winner than Decentraland. Similar to Decentralnd, the Sandbox is a virtual environment built on a DAO architecture. The SAND virtual token served as the Sandbox’s primary currency, but Polygon’s layer 2 solutions, known for their faster processing times and lower transaction costs, have replaced it.
AXIE INFINITY (AXS)
Numerous individuals have made Axie their full-time occupation. This Ethereum blockchain metaverse idea is centered on the native Axie coins AXS and SLP. The governance token is Axie Infinity Shards or AXS for short. AXS has been consistently ranked among the best cryptocurrencies in the metaverse, and its value increased by roughly 200 percent in 2021 alone.
In terms of the SLP tokens, which are also referred to as Smooth Love Potion, these can be obtained as rewards in either the adventure or battle modes. More importantly, Axies can be bred with SLP tokens. These creatures increased in value in tandem with the game’s meteoric rise in popularity, a trend that continues into the year 2022. Additionally, this is a model that is unlikely to change shortly due to the ease with which players can cash out their in-game currency in the real world.
It combines the excitement of gaming with the advantages of non-fungible tokens. Gala also has several social games based on the blockchain that focuses on connecting people and building relationships. One of the blockchain project’s best features is how much ownership and control players get.
Enjin Coin (ENJ)
The platform’s native utility token, ENJ, can be exchanged for in-game product sales and purchases. In addition, Enjin’s platform provides the following feature: a business market Without having to pay any fees to an intermediary, this feature allows game players and developers to exchange their creations on a marketplace.
The new company says it has set up a scanning chamber in Doha that scans things and makes a virtual, three-dimensional Metahero universe. Given that Metahero is a novel concept, it is reasonable, even though it is not excessive.
Star Atlas (ATLAS)
Star Atlas is a project in the metaverse that centers on a game that takes place in the future—in the year 2620—where players can conquer land and acquire resources in a futuristic setting. The two Solana-based coins of Star Atlas are ATLAS and POLIS. The first, ATLAS, allows players to perform actions like engaging in combat, exploring new realms, and accessing the marketplace.
This is especially significant because, with the exception of a few items, all of the game’s assets are NFTs.Additionally, players have decision-making authority over the game and may even outvote the developers. However, this scenario’s benefits have the potential to generate revenue. It now has more than 134 million dollars in market capitalization.
High Street (HIGH)
Like many others, you can use the virtual universe’s native utility token, HIGH, to shop for goods. The game platform is already connected to some Shopify websites. It truly stands out from the competition thanks to its hybrid approach to the virtual experience. The fact that it is essentially a half-physical, half-virtual model adds to the suspense. HTC is said to have funded the project, which raised approximately $5 million in August 2021.
In conclusion, both the crypto sphere and the metaverse are experiencing rapid expansion. We hope these crypto and metaverse projects will help you make the right decision. On the other hand, this could be considered yet another fascinating aspect of the prevailing technological revolution. Crypto genius, on the other hand, can help you dig deeper into the crypto and metaverse worlds.