5 Best Metaverse Cryptocurrencies (Crypto Tokens) to Buy in 2023
The fascinating world of the metaverse has captivated people for decades, and increasingly, cryptocurrencies are making this dream come true. With the blockchain revolution in full swing and the popularity of metaverse tokens surging 2023 looks to be a great year to consider investing in virtual world crypto coins.
In this article, we will explore five of the best metaverse crypto coins that you might want to buy this year.
What is a Metaverse?
A Metaverse is a virtual world, the next iteration of the internet. It is a virtual ecosystem powered by cryptocurrencies and Non-fungible tokens (NFTs) involving multiple technologies like virtual reality, augmented reality, AR cloud, the Internet of Things (IoT), Artificial Intelligence, and spatial computing. Virtual World creates many opportunities for Businesses and Individuals to earn and explore the ecosystem.
why do we use Metaverse for?
We can do many things in this Virtual World including
- Connecting with people
- Work remotely, attend meetings
- Play with your friends virtually
- Shop both physical and digital products
- Learn like never before, explore each concept visually
Watch the article in a glimpse
Top Companies invested in Metaverse
Metaverse companies mainly focus on building and managing the virtual world by introducing new and advanced hardware and robust software products like 3D avatars, data storage, connectivity, and other features to facilitate the Virtual world users. There are more than 150+ companies entered into the multiverse. Companies including Meta (Facebook)and Microsoft have already put their foot into the virtual world.
Some of the other Metaverse companies include
- Epic games
The connection between Metaverse and Cryptocurrencies
Digital currencies play an important role in the metaverse as they help users to trade in the ecosystem like for buying NFTs, real estate, accessories, items, concerts, etc. The Cryptocurrency metaverse is built on blockchain ensuring transparency, decentralization, security, traceability, and irreversible nature.
“A virtual currency in the virtual world”
Top trending cryptocurrencies in April
Top 5 Metaverse Cryptocurrency coins (Tokens) based on Market Capitalization
- Internet Computer
- Theta Network
1. INTERNET COMPUTER (ICP)
The Internet Computer (ICP) allows Web3 services to run 100% on-chain, the platform where developers can build, and users can enjoy fully decentralized applications. Internet computers allow canister smart contracts to directly open in any browser just like regular websites.
By frequently adding new subnets, the IC scales to an unbounded number of decentralized apps(dapps).
ICP, the utility token, is used by developers to pay for computation and facilitates users to participate and govern the Internet Computer blockchain network. Users can also earn through staking. Staking rewards start from 11.2% APY and get as high as 21.0% APY if you stake for 8 years.
Where to purchase ICP?
ICP tokens can be bought through exchanges like coinbase, Binance, Kucoin, Wazirx, DigiFinex, OKEx, Gate.io, and other exchanges.
Projects of ICP include:
The market Cap of ICP is $1,944,602,888 and the current price is $6.42 at the time of writing.
2. APECOIN (APE)
ApeCoin is an ERC-20 governance and utility token used within the APE Ecosystem to empower and govern a decentralized community on a web3 ecosystem.
The APE Improvement Proposal Process will allow ApeCoin DAO members to make decisions regarding Ecosystem Fund allocations, governance rules, projects, and partnerships.
Apecoin holders can participate in voting and decision-making of the Apecoin DAO, and have access to exclusive games, events, and services. The total supply of Apecoin is 1 billion tokens.
Apecoin is available on all major centralized exchanges and also on decentralized exchanges like SushiSwap.
The market capitalization of Apecoin is $1,665,923,663 with a current value of $4.52 at the time of writing.
3. DECENTRALAND (MANA)
Decentraland is the first fully decentralized virtual reality platform built on the Ethereum blockchain where users can create, discover, and trade on the platform. The Decentralized Autonomous Organization (DAO) owns the most important smart contracts and assets in Decentraland.
The users can participate in voting and decision-making activities including
- Policy updates
- NFT contracts
- Future LAND and real estate auctions
- Protocol Upgrades
- Allocation of grants
- Replacing members of the Security Council
Decentraland has two tokens: MANA and LAND. MANA is an ERC-20 token that must be burned to acquire non-fungible ERC-721 LAND tokens. MANA tokens can also be used to pay for a range of avatars, wearables, and more on the marketplace.
The market cap of MANA is $1,256,224,890 and the current value is $0.6772 at the time of writing.
4. THETA NETWORK (THETA)
Theta network is a web3 blockchain infrastructure for videos, media and Entertainment. The Theta token performs various governing tasks in the ecosystem. The Theta network partners include Samsung VR, Cinedigm, Shout! factory, and Play labs.
The decentralized video streaming platform makes the network more efficient, and cost-effective. The native blockchain has two native tokens, known as Theta (THETA) and Theta Fuel (TFUEL) to empower the network.
The market cap of Theta Network is $1,177,189,524 with a current price of $1.18 at the time of writing.
5. STACKS (STX)
Stacks is a decentralized Bitcoin layer that enables smart contracts and decentralized apps.
Users can hold STX, to support the network’s security and consensus and can earn rewards. Developers can build apps on stacks layer protected with Bitcoin Security.
Stacks uses a proof-of-transfer consensus mechanism to achieve scalability. sBTC allows developers to create applications such as DeFi and NFTs, that are backed by the security and stability of Bitcoin.
The market cap of STX is $1,166,900,594 and the current price is $0.8494 at the time of writing.
Some of the alternative metaverse crypto tokens include Axie Infinity, The Sandbox, Render Token, Zilliqa, and Enjin Coin.
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In conclusion, the metaverse is an ever-evolving space that has tremendous potential for growth. Each coin offers a unique solution that could benefit users in the long run. Remember to do your own research before investing in any cryptocurrency to ensure it meets your needs and objectives. Finally, keep an eye on the crypto markets and explore new opportunities as they arise.
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