The metaverse in itself is not a novel idea. It was first coined in Neal Stephenson’s 1992 science fiction novel “Snow Crash” which envisioned a virtual reality-based successor to the internet. Also recently, Ernest Cline in his 2011 novel “ready player one” depicted in motion pictures further popularized the metaverse idea. Cline’s Science fiction pictured a futuristic world in 2045 that had portrayed the idea of the metaverse.
What then is the metaverse?
The metaverse is a virtual space where users can interact and perform real-life activities with a computer-generated environment and other people. It is an aggregation of 3D virtual realms that is focused on social connection. The metaverse is much like a super-advanced model of Social media as we know it, that gives us an immersive experience. So, instead of communicating with texts, you will directly communicate and interact with other users through your digital avatar in this immersive world. The metaverse world is not fully formed but there are already attempts at creating this immersive world. This has been seen mostly in NFT games powered by blockchain technology that gives users a virtual experience.
Most of these games give gamers a virtual experience and the opportunity to make money from playing them. They have native cryptocurrencies and game assets that you can exchange for fiat currency or other cryptos in cryptocurrency exchanges. You can also get these game assets and tokens to hold for the long run in your crypto wallet. This article will guide you on how to buy metaverse tokens. And as a bonus will give you tips on the best metaverse coins from great metaverse projects with the potential to turn in good profits.
What are Metaverse Tokens
Metaverse tokens, also known as Metaverse coins. These are units of virtual currency or digital assets that used to make digital transactions within the metaverse. But while you can spend some of these tokens only within these virtual environments, you can also purchase others on cryptocurrency exchanges.
Basic Requirements to invest in metaverse tokens
For a newbie who has little or no experience with cryptocurrencies, this guide will give you the basic steps you need to make this journey.
First off, you need a Crypto wallet, and since most of the metaverse platforms are compatible with the Ethereum blockchain, you will need to get a wallet that supports the Ethereum blockchain. Some of the wallets compatible with the Ethereum blockchain include popular wallets such as MetaMask, Trust, and some other wallets hosted by cryptocurrency exchanges. These crypto wallets are either mobile apps or browser extensions.
Now with your wallet in place, you will need to convert your fiat currency to cryptocurrency which is acceptable in these virtual worlds. You can do this with your credit card or any other method specified by the crypto exchange. In some cases, you can exchange your fiat currency directly for the metaverse crypto coin or Ether, since most of them are built on the Ethereum blockchain.
With your wallet and cryptocurrency in place, you are now set to invest in the virtual world of the metaverse. Now, you will need to do your own research on various metaverse projects and pick the best metaverse coins to invest in.
You can invest in the metaverse token or choose to take part in NFT auctions by the metaverse platform. You can also invest in several game items for blockchain games that offer the opportunity to buy some aspects of the game as NFTs. Some of these game items are NFTs that appreciate and have made significant gains in recent times.
Top Metaverse tokens to invest
Now as a bonus in this article I will be giving a top 5 list of metaverse tokens you can invest in. And this ranking is based on market cap. You now have to do your research and chose the best coin to invest in.
The AXS Token
The AXS token is the native token of the blockchain game Axie Infinity and it is the top metaverse crypto coin based on market cap. You can earn by Axie Shards (AXS token) from gaming or buy them from the secondary marketplace.
The Sandbox (SAND)
SAND is the native cryptocurrency of the Sandbox metaverse which is built on the Ethereum blockchain. And based on data from the crypto data aggregator CoinGecko it is the second most valuable metaverse crypto coin.
The MANA Token
The MANA Token is the native cryptocurrency of the metaverse platform Decentraland. And by market cap is the top 3 metaverse token to look out for.
Enjin Coin (ENJ)
Enjin Coin is the Ethereum-based native token of the Enjin gaming ecosystem. You can earn Enjin from gaming or the secondary marketplace.
The Render Token (RNDR)
RND is an ERC-20 utility token compliant with the Ethereum blockchain. Users to pay for motion graphics, animation, and VFX rendering on the Render Network with the token.
In conclusion, the metaverse tokens are becoming a thing and have experienced significant growth. This coupled with the growing popularity of DeFi makes them a good place to invest. But remember to do your own research before making that decision.