So, what’s trending? And the answer is Metaverse and Cryptocurrencies. But, do you know that the announcement of the Metaverse has given the Crypto traders another chance to make huge profits. If you are a new Crypto investor then, here is a post that will tell you about the Top Metaverse coins to invest in right now and earn huge profits in the future.
Crypto is the most recent invention in the evolution of money. It is the safest and fastest method to transact the amount. Many people have made their fortune by investing in currencies like Bitcoins and Altcoins. However, choosing the right Crypto to invest in is always a difficult task especially when you are a newbie.
If you ask the experts, then many of them will come up with the suggestion that it is the right time to invest in the Metaverse Coins. Although the Metaverse blockchain is still under development. There are various visionary companies that have already launched the Metaverse coins.
You can buy these Metaverse coins easily and use them to purchase the land in the Metaverse Virtual Reality Universe. Many of these help the players to earn the NFTs (Non-Fungible Tokens) while playing the game and then later sell them to others outside the platform.
Best Metaverse Coins To Invest Right Now
So, let’s not keep you awaited and start with the list of the Best Metaverse coins available in the market. We have also mentioned the present market cap value of the coin along with the pros and cons.
1. Decentraland (MANA)
Market Cap Value: $5,327,447,161
Well, talking about the Metaverse, we all know that it is going to launch a whole new Virtual Universe. So, here we present you with the best Metaverse coin that you must invest in. The name of the coin is Decentraland (MANA).
You must be wondering why?? Well, here is the reason.
Decentraland is a VR (Virtual Reality) platform that allows users to buy land and sell it. You can also manage your virtual property on the platform. So, what would be a better option for the Metaverse users than to invest in Decentraland? After the Metaverse is successfully released, the Decentraland platform will allow the owners to create a new world of their own.
To get access to the application, Pay for services and goods, and trade, you need to have the cryptocurrency called Decentraland MANA.
Talking about the effect of Metaverse release on MANA. The coin observed a spike of 400 percent when Facebook announced its Metaverse Plans. The value of the coin peaked at $4.16 at the time of the announcement.
Drawbacks of MANA:
As we told you all the benefits that the coin will offer. But, there are various drawbacks as well. Some of these are mentioned below.
- Decentraland MANA works on the Ethereum BlockChain. As we know that it requires a lot of energy to get processed. So, the gas fees charged are relatively high.
- Many users have complained that the experience using the Decentraland MANA was quite boring as you hardly encounter any being in the woods.
However, Decentraland is constantly working on the updates for making the user experience better and we think it’s the best time to invest in MANA Metaverse coins.
Also Read, 6 Best Metaverse Stocks To Buy Right Now In 2021
2. The Sandbox (Sand)
Market Cap Value: $4,615,998,198
The Sandbox (Sand) is another platform owned by SoftBank, that lets the users buy and sell virtual property on its platform. Well, the announcement of the VR universe has given it a boast as well.
You can buy virtual land, purchase property, and trade on the Sandbox platform. To get access to all these functions in the Sandbox you need to purchase the cryptocurrency called SAND. Currently, you can buy the plots in the virtual world present on the Sandbox platform and build your empire on it.
It is estimated that the value of the Sand crypto will rise in the near future. So, we think it’s the best time to invest in the SAND metaverse coins. Trading is not all that you can do on the Sandbox platform. You can also play and create your own games on the application.
Drawbacks of SAND:
- The SAND crypto runs on the Ethereum Blockchain, which means the security provided by the platform is unmatchable. But, this also means it takes a lot of energy to get processed. So, obviously, the gas fees are quite high.
- If we talk about the impact of the SAND crypto on the environment then Etereum cryptos have a very big carbon footprint.
Also Read, What Are NFTs and How To Make Your Own NFT?
3. Axie Infinity (AXS)
Market Cap Value: $8,596,788,404
Axie Infinity is a game that has got more than 25 lakh players all around the globe. The game is played just like the other RPG games. You can build empires, compete with the contenders and search for treasures. The winner or the most engaging player in the game also gets the rewards from the Metaverse blockchain. The players need to obtain the tokens called the AXS to get the stake in the ownership and perform specific operations.
The platform makes use of the NFTs (Non-Fungible Tokens), the players can earn these NFTs from the game and then sell them outside the game. The selling price of these NFTs varies from $150 -$100,000.
We know what you are thinking right now. How to earn these NFTs within the game? Well, you just have to play the game normally and compete with the other contenders to earn the monsters called the Axies. These Axies are the NFTs that can be sold.
Drawbacks of AXS:
- Well, the first drawback of the AXS is the same as the others mentioned above. Since it is based on the Ethereum Metaverse blockchain which means the security provided by the platform is unmatchable. But, this also means it takes a lot of energy to get processed. So, obviously, the gas fees are quite high.
- There are only a specific number of Axies that a person can earn from the platform.
- It requires a lot of time investment.
4. Star Atlas (ATLAS)
Market Cap Value: $345,976,730
As we are aware that Metaverse is not something that Virtually represents a world. It is beyond that, it is a Universe, and the Universe is not limited to land as discussed in the above Metaverse Coins.
Star Atlas is a platform that provides the users the wings to explore the outer Universe full of stars and planets. As you enter the Star Atlas platform you will be provided with the spaceship that will take you to the outer world. You can explore the galaxies and develop the world according to your will.
Well, owning the spaceship is virtually easy but it is not free. You will have to buy the equipment in the game with the help of the ATLAS Metaverse coins. You can also use the ATLAS metaverse coins to buy the POLIS. POLIS is the in-game currency that will help you further in the game.
ATLAS on the other hand runs on the Solana Metaverse Blockchain. This Metaverse blockchain is as effective as the Ethereum blockchain but is relatively cheaper.
Drawback of ATLAS
The only drawback of using the ATLAS Metaverse Coins is that the introduction of two different currencies on a single Platform is quite confusing and sometimes irritating.
Also Read, The Hydra Network of Cryptocurrencies, Prompting Investors to Buy Cardano
5. Enjin Coin (ENJ)
Market Cap Value: $3,322,523,485
Enjin is another platform that allows users to buy, sell and store virtual goods. The platform offers users the goods after they lock a few ENJ tokens into a contract. The players on the platform can trade and hold the goods as per the contracts. When the virtual goods are sold on the platform, the player receives the ENJ.
Just like the other Metaverse coins, there is a limit set to the production of the ENJ Metaverse coins. The issuing company has announced that only one billion ENJ will be produced and distributed among the players.
Talking about the specific features that ENJ offers to its users. It allows them to trade in the NFTs and make use of the QR codes for easy and smooth transactions. If you ask about the trading advice then we would categorize this coin for the long-term hold as it is expected to double and triple its price in the coming years.
Drawback of ENJ
ENJ coins run on the Ethereum Metaverse Blockchain and if you are an environmentalist then the carbon footprint of the Ethereum blockchain will be a cause of worry for you.
6. Gala Games (GALA)
Market Cap Value: $2,859,951,852
Gala Games has not got a very big history. The company was started in 2020 and it does not focus on specific games as some of the metaverse coins mentioned above do. In spite, the company develops the games that the users want to play, and recently they have introduced a feature that lets the player stake the metaverse coins in return for the rewards.
The developers have made sure that it becomes easier for the newbies to invest in the game. The company is going to release more games in 2022 and we can expect a huge profit.
Also Read, How to Buy Dogecoin? A Guide For The Investors
All the Metaverse coins listed above in the post have got the best stats on the date the article was published. The market cap value of these Metaverse Coins is subjected to change. We have mentioned the latest stats available on the date of publication.
Also, we don’t force you to invest in these Cryptocurrencies because they are subjected to risks. So, invest wisely and invest only the amount that you can bear if it is lost.
Featured Image Credits: Medium