10 Most Traded Metaverse Cryptocurrency In 2022
Metaverse is rapidly becoming a topic of interest to everyone in the world. Since it poses to be a bridge between our real world and a virtual world, a lot of enthusiasts( people, businesses and corporate bodies) have shown indefatigable interest in the metaverse investment.
An example of these enthusiasts is the gigantic social media platform Facebook which rebranded its platform to the Meta platform.
Blockchain technology and NFTs are core components of the metaverse world and projects. Most metaverse projects are built on blockchain technology which invariably utilises its native cryptocurrencies and tokens for its full functionality and accessibility.
Many metaverse cryptocurrencies are being traded today with the potential for high returns. A lot of people have speculated the metaverse projects to be good investment opportunities with high yielding returns in few time to come.
If you’re are looking for a good metaverse cryptocurrency to invest in or trade on, we have the ten most traded metaverse cryptocurrencies in 2022.
This article may help you make the right choice on where to start.
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10 Most Traded Metaverse Cryptocurrencies In 2022?
Decentraland is a leading crypto gaming project which was launched in 2018. This project was built on the Ethereum blockchain to give its users from all over the globe a virtual gaming experience.
In the Decentraland world, the users can customise players, interact with other users and explore many other features of the virtual environment.
The Decentraland project has its native cryptocurrency named MANA through which all the transactions in the platform are carried out, giving the coin a good utility value.
Some of the users of the product can utilize the MANA on are in-game items, real estate and virtual lands.
The price of Decentraland when it was launched on public exchanges in 2018 was $0.025 but it peaked at an all-time high of $5.90 in November 2021, about a 24,000% gain.
Though it dropped with the rest of the crypto market in 2022, MANA is a very good metaverse to invest in.
2. The Sandbox:
We can say that Sandbox is a major competitor of Decentraland, though it was launched before Decentraland. Sandbox has been in existence since 2012 after releasing its first game.
Sandbox was built in the Ethereum blockchain as Decentraland, using a native cryptocurrency named SAND.
The sandbox allows users, through SAND, to create their characters, interact with other users, trade in-game items, buy virtual land and real estate on the metaverse platform.
Sandbox was first listed on CoinMarketCap for $0.051 in 2020 and hit an all-time high of $8.44 in November 2021. This signifies an over 16,000% increase in just one year.
Sandbox is a good metaverse cryptocurrency to invest in for 2022.
3. Axie Infinity:
This is another good metaverse cryptocurrency which allows users to play games and get rewards for some tasks(play-to-earn) on the Axie Infinity ecosystem.
Players are always enthusiastic about collecting and breeding virtual animals. They can be minted and sold as a unique NFT in the open marketplace.
Axie Infinity was built on the Ethereum blockchain and its native token is ACS which was launched in early 2020 at the price of $0.15 per token. It hit an all-time high of $165 in November, gaining over 110,000% in value within one year.
This makes Axie Infinity a good metaverse coin to purchase this 2022.
This coin was founded in 2020 but launched its native token ILV in 2021 with the price of $68 on public exchanges.
Illuvium was built as an open-world gaming platform that is based on an RPG(role-playing game) model. Players are given the task of hunting animals which are referred to as illuvials.
Seven months after the launch of ILV it surged to a high of over $2800, gaining over 4,000% in price value.
However, illuvium has been consolidating in the $600 area but it’s still a good entry point for potential investors who want to trade on this metaverse coin.
5. Enjin Coin:
This metaverse crypto coin was launched in 2017 and it is is is surely one of the best metaverse coins you can invest in for 2022.
Enjin offers a seamless way of buying and selling NFTs via a mobile app. It also offers a secure globalized database where users can manage and store digital gaming products.
Enjin began its metaverse journey in 2021 after it announced the fundraising of $100 million to fund it.
The Enjin coin was launched on public exchanges in 2017 at $0.017 per token but it hit an all-time high of about $4.85, gaining about 28,000% in value since its launch. This makes this coin one of the good metaverse coins to invest in.
Almost every metaverse project was built on the Ethereum blockchain. This goes a long way to suggest that Ethereum is a good option to consider if you are looking to invest in the metaverse coins.
Ethereum is inarguably the leading smart contract blockchain technology in the world which gives metaverse platforms the ability to function in a decentralised and secure manner
Considering the upgrade of Ethereum to Ethereum 2.0, a proof-of-stake consensus mechanism, many more metaverse projects will be unleashed.
ETH 2.0 is bound to increase transaction speed and scalability by a good percentage.
Sushiswap is a home to a popular decentralized exchange where users can trade digital currencies without the intervention of a third party.
SushiSwap has expanded and grown so popular that it has surpassed a market cap of $500 million in early 2022.
SushiSwap has also expanded to an NFTs marketplace in collaboration with the metaverse.
This makes it one of the best metaverse cryptocurrencies to invest in this 2022.
8. Gala Games(Gala):
Gala Games is a blockchain-based play-to-earn platform where users earn some GALA tokens for completing some tasks on the platform.
Gala Games was reported to having plans of investing $2 billion into gaming, $1 billion into movies, $1 billion into music, and the remaining US$1 billion into an NFT-specific theme park.
With the above plan perfectly executed, there is no doubt that Gala Games will be a big name in the future of the metaverse.
GALA could as well present itself as a good metaverse crypto coino investment in this 2022.
9. Render Token:
Render token was launched in 2020 and its main function is to offer a distributed GPU rendering network that can be used by all metaverse projects.
The fact that metaverse platforms need a high amount of GPU space to process a huge number of transactions each per second, increases the amount of throughput the underlying blockchain needs to process. This increases the transaction fees and slows the processing time.
Since the token was launched in 2020 at $0.05, it has reached a high price of $8.76, making it a good metaverse crypto coin to trade on.
The last on our list is the Wax (WAXP) which was launched in 2017 to develop e-commerce transactions by making them faster, more comfortable, and more user-friendly.
WAX is a decentralized application built on the blockchain where NFTs are accessible.
It is one of the metaverse cryptocurrencies you can trade in 2022.
As the metaverse continues to gain momentum in the world, innovators have no other option than to embark on metaverse projects which will yield good returns in the future.
In other not to be left out when these big days will come, being a part of the growing metaverse ecosystem is crucial. A good way of achieving this is to invest in the metaverse cryptocurrencies which are the foundation of these projects.