For more than decades, the huge potential of the digital space existed only in the pages of novels and science fiction. Presently, the word “metaverse” is one of the buzziest tech words and is being embraced enthusiastically by game and software developers. And now it has entered the crypto space as well. So what are metaverse cryptocurrencies?
What Are Metaverse Cryptocurrencies?
Metaverses are a spreading universe that is accessed by the users through a computer or virtual reality headset, that enables the user to work and play in a digital, fictional realm. To truly become a completely immersive world along with their own economies, they require a currency and that is where digital currency arrives.
Metaverse cryptocurrencies can typically only be used in a metaverse that they are attached to. The user purchases them via each virtual universe’s un-game store. The cryptos can be used to purchase in-game items like lands or the items that can be traded with other players.
Similar to any other crypto in the digital currency space, the metaverse coin price also fluctuates from time to time. Always remember, using digital currencies or tokens are always risky investment options. Investing does not guarantee you to offer the same amount of money. So ensure that you are warae of the risk and invest the amount that you can afford to lose.
Decentralized finance tokens and digital currencies are highly fluctuating so your money can go up and also down to a great extent. There are some digital currency services and products that are difficult to evaluate. So investment should only be done only if you understand that concept.
Top 4 Metaverse Cryptocurrencies
Now that you have understood the idea of metaverse cryptocurrencies, there are many such metaverse crypto projects. Let us have a look at the Metaverse cryptocurrencies tokens.
SAND is a digital currency of “The Sandbox” which is a sort of metaverse where the users can trade and purchase digital assets. Here the user can design a virtual space that is driven by non fungible tokens (NFTs) where they can construct, own, and also make cash off their digital gaming experience.
The company is co-owned by Animoca, which is a blockchain gaming developer which is a Hong Kong based company. The market cap of this token is more than $2 billion. This company has received investment from SoftBank which is among the most influential tech banks in the world.
Decentraland is a virtual reality platform that is based on the blockchain where the users can buy plots of the virtual real estate known as LAND. The user can travel through, construct, open and monetize the plots that they purchase, as per the Decentraland Foundation, which is the organization operating behind the tech.
The users purchase the LAND with MANA, which is the in-game digital currency token of Decentraland. Along with that, this currency can be used to pay for in-world services and goods.
Star Atlas (ATLAS)
The ATLAS currency of the Star Atlas may be for the sci-fi nerds among you. This is a futuristic space search game where the players side with factions to construct intergalactic and civilizations economies. These are metaverse blockchain games. Players can create and trade NFTs (non-fungible tokens) within the Star Atlas space to earn cash.
The user pays for stuff using Atlas, which is the built-in digital currency of the game. Star Atlas CEO Mike Wagner has illustrated the game as “more complex than it sounds.” That bodes well, then.
Facebook in 2019, which is now known as Facebook metaverse, launched a latest project which was known as Libra: Its planned digital coin. The social networking giant asserted that it wanted to form a separate, private digital currency system to enable users to make cross-border payments easily. As with other digital currencies, people can purchase and sell Libra tokens on crypto exchanges for fiat currencies. So if you are wondering metaverse crypto where to buy, then you will get them in big exchanges, like for metaverse coin Binance can be an option.
Facebook said that its substitute currency makes the way for more tranquil transactions and payments online. The project has been delayed in the years since owing to threats from regulators around the globe. Meta has not given up yet, however. The entity has said that its recently announced metaverse will accept NFTs, creating the way for a consequent digital currency system.
The Bottom Line
Metaverse is the ambience where the user can work and play at the same time. This creates a separate virtual space for the workers. Metaverse cryptocurrencies can typically only be used in a metaverse that they are attached to. The user purchases them via each virtual universe’s in-game store. In the above portion we have discussed the top metaverse cryptos and how they help in creating this virtual world. You will find more opinions on Metaverse crypto Reddit.
Frequently Asked Questions On Metaverse Cryptocurrencies
Metaverse cryptocurrencies can typically only be used in a metaverse that they are attached to. The user purchases them via each virtual universe’s in-game store. The cryptos can be used to purchase in-game items like lands or items that can be traded with other players.
So if you are wondering metaverse crypto where to buy, then you will get them in big exchanges, like for metaverse coin Binance can be an option.
There are many metaverse cryptocurrencies like Libra, SAND, ATLAS, and MANA.