9 Best Metaverse Crypto You Should Look Into in 2022
Many believe that Metaverse is going to be the next thing in the world of the internet. As a result, there are different companies that are building their projects into the Metaverse.
While on one side, we have companies like Facebook, now named Meta, and Microsoft. There are a bunch of best metaverse crypto projects that also exist.
For this article, we collaborated with TheMoneyMongers.com, a crypto research firm to find some of the most exciting crypto metaverse projects that you must check out. So let’s get into the topic right away:
10 Best Metaverse Crypto You Should Look Into in 2022
First, there is SushiSwap. This one is one of the exciting projects in the metaverse. It is software running on Ethereum that seeks to incentivize a network of users to operate a platform where they can buy and sell crypto assets.
There are other similar platforms also exist named as Uniswap and Balancer. Moreover, SushiSwap uses a collection of liquidity pools to achieve its goal.
In this project, the users lock in their assets into smart contracts and traders then buy and sell crypto from those pools, swapping one coin for another.
It is one of the growing decentralized finance platforms that allows users to trade crypto without the need for a central operator administrator.
2. The Sandbox
The Sandbox is also one of the popular metaverse projects out there. It is a virtual world where players can build, own and monetize their gaming experience in the Ethereum blockchain.
It is a game in which players can buy digital plots of land called LAND. And create experiences on top of them to share with other users.
The Sandbox has established one model of a blockchain based metaverse. Apart from the NFT type LAND token, The Sandbox also offers two other native tokens that govern the operations in the metaverse.
These are SAND tokens and ASSET tokens. The SAND tokens can be used for facilitating various transactions that are part of it’s gameplay. Like purchasing LAND, interacting with user generated content, and staking it to participate in the governance of the decentralized autonomous organization.
Also, the asset tokens are like NFTs which represent in-game items like equipment for avatars and creations that are used to populate LAND.
3. Theta Network
Next, there is the Theta Network. Theta is a software project that seeks to incentivize a global network of computers to operate a decentralized video streaming platform.
In today’s time, most websites and content streaming platforms use a content delivery network or CDN. These CDNs are geographically located, and they are paid to deliver video content to the end-users. However, as these CDNs are geographically located, they cannot keep up with the increasing demand of high quality streams.
However, Theta solves this issue by allowing global users to relay videos by offering their bandwidth and computing resources. In return, they get an incentive.
As more and more users join the Theta Network, more bandwidth will be available. As a result, it will improve the video streaming quality on the network.
You can also have a look at Stacks. It is a layer-1 blockchain that allows the execution of smart contracts. Stacks is associated with the Bitcoin ecosystem and it aims to enhance Bitcoin’s capabilities by building on top of it.
Although, it pretty much sounds like Bitcoin sidechains, drivechains or second layer solutions. But since Stacks is a layer-1 blockchain itself, it has a unique way of achieving its goal.
Stacks is backed by their own nodes, own network, own miners, and its own native coin, unlike Bitcoin sidechains.
Stacks native coin is not pegged to on-chain BTC. Instead, Stacks blockchain uses the Bitcoin base layer blockchain as reliable storage and broadcast medium. This means whatever transaction happens on the stacks gets recorded on Bitcoin.
Decentraland is also one of the best metaverse cryptos that you can check out. It is software running on Ethereum that aims to incentivize a global network of users to operate a shared virtual world.
On Decentraland, the users will be able to buy and sell digital real estate. As well as explore, interact and play games within the virtual world itself.
Also, over time, the platform has implemented interactive apps, in world payments, and peer to peer communication for users.
On Decentraland, there are two types of tokens that govern the virtual world. These are:
- Land: This is an NFT used for defining the ownership of land in the virtual world.
- MANA: A cryptocurrency that facilitates purchases of LAND, as well as virtual goods and services used in Decentraland.
6. Enjin Coin
NFTs are a big part of the whole metaverse. And Enjin coin aims to make it easy for individuals, businesses, and brands to use NFTs.
The cryptocurrency was launched back in 2017, and it is an ERC-20 token. As a result, you can use an Ethereum wallet to send and receive it.
The token is designed to integrate with games. You can use the token as a currency and use the Enjin wallet to buy, sell and trade NFTS.
Similar to the Enjin coin, WAX is also made for trading virtual items like rare and collectible items in video games and the virtual world.
WAX stands for Worldwide Asset Exchange. The WAX blockchain works as a decentralized marketplace and dAPP platform, which is hyper focused on video gaming and virtual collectibles.
The platform eliminates the need to trust the centralized video game provider or network. Instead, the players can truly own their virtual assets and trade them with anyone on the WAX platforms.
Holders of virtual goods can also know that the items are probably rare and can’t just be created whenever the game developer decides to make more.
8. Render Token
You can also have a look at the Render Network. It is a peer to peer GPU marketplace that lets users contribute computational power to 3D rendering projects and earn crypto in return.
The blockchain is built on top of the Ethereum blockchain, and it aims to connect artists and studios in need of GPU computing power with mining partners willing to rent their GPU power.
Ontology is a cryptocurrency that powers Ontology which is a high-performance blockchain that solves issues related to identity security and data integrity. This crypto project allows businesses to enjoy blockchain benefits like smart contracts and tokenization while still retaining control of their sensitive data.
The project focuses on building infrastructure to provide trusted access to Web3. Also, the Ontology blockchain is a high-speed, low-cost public blockchain. It is designed to bring decentralized identity and data solutions to Web3 with its primary focus on enhancing privacy.
So those were some of the best metaverse crypto projects you should check out. Now go ahead and check these projects out and see which one excites you the most. Also, for any other questions, feel free to drop a comment below.