The metaverse concept has gained remarkable recognition in recent months as many companies take the initiative into the game. People can’t help but get excited about it. Investors are enthralled by its great potential and expected to continue growing as time goes by.
Before diving into the list of metaverse crypto coins to invest in, let’s define metaverse for those unfamiliar with it. It is defined by Investopedia as a digital reality that combines aspects of social media, online gaming, augmented reality (AR), virtual reality (VR), and cryptocurrencies to allow users to interact virtually.
Metaverse coins in the cryptocurrency industry are doing great. While Bitcoin, The Mother of All Bubbles, continues to struggle in recent weeks, Decentraland (MANA), continues to dominate the market and gain popularity.
I don’t recommend investing all of your funds into one particular metaverse token, as there are plenty of metaverse crypto coins out there. It is always wise to have a diversified portfolio. I believe that the top 5 metaverse crypto coins to invest in 2022 will be the top 5 metaverse by market cap today as they tend to be the most stable and have the highest potential return if you hold them for the long term. Looking back, if you bought these coins earlier this year, you have already produced a huge return. Indeed, the most effective way to invest is to buy and hold. But before investing, you need to choose a safe and secured cryptocurrency exchange first to buy, sell, and hold your digital assets.
1.Axie Infinity (AXS)
Market Cap: $6,874,911,128
Axie Infinity is an NFT-based crypto game that was launched by Trung Thanh Nguyen, Aleksander Leonard Larsen, and Jeffrey Zirlin in 2018 and engages a play-to-earn model. It is currently the top metaverse token by market cap at $6.8 billion. AXS is an ERC 20 token used for governance on the Axie Infinity NFT game, a blockchain-based that has taken over the crypto space and is currently dominating the NFT world.
2. The Sandbox (SAND)
Market Cap: $4,771,408,845
The Sandbox was launched in 2011 by the Pixowl company. SAND is a decentralized cryptocurrency based on the Ethereum blockchain. It is the native utility token for the blockchain game The Sandbox. The Sandbox is a virtual environment where gamers can create, own, and sell their gaming experiences using SAND. German multinational corporation Adidas (ADS) has entered the metaverse by purchasing a portion of land on The Sandbox map. On November 23, 2021, Adidas tweeted “Adiverse, what should we build together in The Sandbox?” also made a significant price surge.
3. Decentraland (MANA)
Market Cap: $4,396,378,411
Decentraland was launched in 2011 by Esteban Ordano and Ariel Meilich. It is a blockchain-based decentralized 3-D virtual reality platform to buy and sell land through non-fungible digital assets. It is one of the early projects to challenge building a decentralized virtual reality platform on the Ethereum blockchain.
4. Enjin (ENJ)
Market Cap: $2,312,787,867
Enjin is a cryptocurrency for virtual goods launched in 2017 by the company Enjin. It can be used by blockchain social game players to buy in-game virtual items. Enjin is also a store of value that can be used in the fast-growing non-fungible token (NFT) marketplace.
5. Illuvium (ILV)
Market Cap: $749,680,810
Illuvium is an open-world RPG adventure game and auto-battler rolled into one, built on top of the Ethereum blockchain. Illuvium is one of several play-to-earn games to emerge where players will be rewarded with ILV tokens and enable them to participate in the game’s decentralized autonomous organization.
If you believe that Metaverse is the future and its great potential, then you can invest a portion of your portfolio on these coins. Moreover, cryptocurrencies will remain volatile. Thus, risk-tolerant investors who seek profits in the metaverse revolution could consider allocating only a small part of their portfolio.