In recent years, interest in this industry has rekindled as the metaverse has evolved from a tool for social communication to one that can be used for employment or other forms of entertainment.
As a result, metaverse cryptocurrencies continue to gain traction in the digital currency market, and investors are particularly interested in metaverse cryptocurrencies, digital currencies that have combined blockchain with virtual reality.
As internet giants like Meta Platforms Inc (formerly Facebook) aim to dominate the market, these metaverse cryptos are considered a method to undermine their ambitions while pushing the industry to new frontiers.
So, what cryptocurrencies come to mind first when the metaverse is mentioned? Let’s examine together.
Decentraland is a popular virtual environment for individuals who want to mix blockchain with digital sociability. A virtual economy powered by the MANA token generates real-world passive income for its users.
Users create an avatar and can do almost whatever they want. He can communicate with people, play games or visit a virtual casino. Recently, the network has started hosting major virtual music events, starting with the Metaverse Festival.
Users can earn and spend money in Decentraland. Users can request specific plots of land mapped in the metaverse and develop them as they choose. These plots can be sold if desired. Besides land arbitrage, developers can make a profit by selling irreplaceable cosmetics for MANA on the Decentraland market.
Enjin Coin (ENJ)
According to its latest post, Enjin has ambitious goals to assist initiatives to build a decentralized metadatabase in its ecosystem.
As a result, on November 4, the blockchain-powered gaming platform announced that it has raised a $100 million fund. The ‘Efinity Metaverse Fund’, as it is officially known, was established to assist its partners in the ecosystem and encourage the creation of a decentralized metaverse.
The Efinity Metaverse Fund was established to assist metaverse projects at Efinity and encourage development. Enjin, together with Polkadot, created a blockchain network for non-changeable tokens (NFTs). In particular, the fund will assist companies in developing joint NFT projects on Efinity and Polkadot, which will include assets that can be used across various protocols and chains.
As part of its funding strategy, Enjin plans to invest in gaming projects across all platforms as well as protocols in adjacent domains such as Mixed Reality (MR), an experience that combines elements of both Augmented Reality (AR) and Virtual Reality.
The Sandbox (SAND) currently ranks third among metaverse tokens. Virtual worlds can be created in Sandbox as well as in Decentraland; here developers can create games and sell products, as well as use the platform to connect and have fun with others.
Sandbox users can get the most out of their experience by buying and developing land, just as they do in Decentraland. This property can be used for any desired purpose and both individuals and businesses own the land.
An impressive list of sponsors from many areas of pop culture encourages followers to engage with him, contributing to the growth of the platform. The Walking Dead and The Smurfs are among projects that have partnered with Sandbox to promote the game, including singers Snoop Dogg and Deadmau5.