Metaverse today is beginning to catch the eyes of not just technological enthusiasts but also cryptocurrency enthusiasts, even though its technology is far from mainstream, it is quickly getting people’s attention given that is been supported and hosted by one of the biggest technological companies META formally known as Facebook and it seems to present an array of untapped opportunity this 2022.
Just earlier this year, a report showed that the metaverse project was worth $10 billion and that it is seen as the future technology by its company as this process of becoming the future technology would be aided by web3 technologies. As a given, cryptocurrency fluctuates and so what is rising today may not really do well tomorrow and so it is better to put in what you can afford to lose.
In Metaverse today a lot of technological activities are going on, ranging from Metaverse cryptocurrencies, games, tokens, and a host of others, and all are done in a pattern that is decentralized and allows users to benefit.
Now given that Metaverse projects are quite new, its cryptocurrency prices are low as they are in most cases between less than $1 and also less than 1cent. This makes it very affordable for a lot of people to invest in, as it makes its opportunities open for everyone but it is always advised to trade with caution as it is always better to buy and invest in Metaverse cryptocurrencies that have shown worthiness through its performance, a worthy portfolio, powerful financial backing, utility or the three of them combined.
Here is a list of three major metaverse cryptocurrencies to try out in 2022:
- DECENTRALAND ( MANA):
This is one of the most popular metaverse cryptocurrencies projects that has been talked about in the news as the “NFT craze” is mainly part of the reason for this buzz. This has greatly benefited the cryptocurrencies native token, MANA, Though in this platform users can buy, sell, rent, lease lands, rent out spaces, fields, create virtual games and other digital assets,it has been used a lot by NFT owners to show off their there NFTs on the platform.
Report shows that it is seen as “The second largest metaverse token despite a mediocre performance by market capitalization”. Though it has seen a decline since the beginning of the year, this is 31% up compared to the previous year.
This Metaverse cryptocurrency only exists in the Ethereum Blockchain and is thus referred to as the ERC-20 token. This token gives its holders governance access and rights in the APE ecosystem and also rights to its product and services. So it could be seen as a governance token.
It also has in its platform, a game developed by Yuga Labs, which has its NFTs including Bored Apes Yacht Club.
This company got about $320 millions through sales of Virtual lands in which holders of its native token could actually purchase plots of land on the “Other side”. About 55,000 “other deeds’ ‘were bought by the holders with about 45,000 going to the Yuga Lab NFT owners and developers. This caused the Ethereum network to have increased traffic and thus increase in the transaction fees,
Reports from CoinTelegraph shows that there was a reduction in ApeCoin’s price due to issues arising from minting other deeds and this led to a reduction in demand. Today ApeCoin is worth $6.23. There is no assurance that this would process would work but to actually stimulaTe ApeCoin’s price it is been withdrawn from circulation. On March 17, about 30% of its total coin supply was in circulation.
- Terra Virtua Kolect (TVK):
Way before NFTs became popular, Terra Virtua Kolect existed and it was made official around 2017 and as of today it has become a Metaverse platform that concentrates on NFTs, as you could trade and make NFTs using its native token TVK.
NFTs play a major role In Terra Virtua Kolect ecosystem and this thus means that this cryptocurrency’s potential is dependent on the increase and decrease of NFTs.
According to GoBankingRates “Terra Virtua recently integrated the Cardano blockchain to help make its marketplace more sustainable. It previously integrated Polygon, the first carbon-positive blockchain, NFT Evening reported
The TVK market cap as of now stands at over $40.98 million, while the YTD performance is -70.8%, which is an improvement compared to last month. However, new partnerships, such as a recent one with NFT game Kawaii Islands, could increase its user base enough to make it viable in the long term”.
Given this Metaverse Cryptocurrencies, a lot of people can queue into it to invest and earn incomes in this ecosystem but it is always advised that a careful scrutiny of projects should be made before deciding to invest or put your money into this cryptocurrencies due to it’s market fluctuations.
You could also check out WHAT METAVERSE GAMES YOU SHOULD TRY OUT IN 2022