Metaverse refers to a virtual world where people can interact with each other, engage in activities, and buy and sell virtual assets using cryptocurrencies. As the concept of the metaverse gains momentum, cryptocurrency projects that power this digital space are becoming increasingly popular. In this blog post, we will explore the top 10 metaverse coins as per market capitalization and understand what makes them unique.
1. Decentraland (MANA)
Decentraland (MANA) is currently the top metaverse coin by the crypto market cap. It operates as a virtual reality platform powered by the Ethereum blockchain, providing users the ability to create, experience, and monetize content and applications. To acquire non-fungible ERC-721 LAND tokens, users must burn MANA, an ERC-20 token. Additionally, MANA can be utilized on the Decentraland marketplace to purchase avatars, wearables, names, and more. The circulating supply of MANA is 1.82B, and as of press time, it was trading at $4.68 with a 24-hour trading volume of $2,397,182,475. It can be traded on popular crypto exchanges such as Binance, Mandala Exchange, OKEx, CoinTiger, and Huobi Global.
2. Axie Infinity (AXS)
Axie Infinity (AXS) is a blockchain-based game where players collect, breed, raise, battle, and trade token-based creatures known as Axies. Each Axie is a non-fungible token (NFT) with unique attributes and strengths and can be entered into 3v3 battles. Axies can only be bred seven times to control their population. AXS’s price was trading at $128.47 with a 24-hour trading volume of $296,755,014 as per CoinMarketCap, making it the 25th largest cryptocurrency. AXS can be traded on popular crypto exchanges such as Binance, Mandala Exchange, OKEx, Huobi Global, and ZBG.
3. The Sandbox (SAND)
The Sandbox (SAND) introduces blockchain technology to mainstream gaming, with a focus on facilitating a creative play-to-earn model. Users can be both creators and gamers simultaneously, with the goal of successfully incorporating blockchain technology into the world of gaming. SAND’s price was trading at $6.32 with a 24-hour trading volume of $3,216,440,897 at the time of writing. The circulating supply of SAND is 892,246,119.22, and it can be traded on popular crypto exchanges such as Binance, Mandala Exchange, OKEx, CoinTiger, and Huobi Global.
4. Gala (GALA)
Gala (GALA) is the 4th top metaverse coin by market cap, aiming to give players control over their games and in-game assets with the help of blockchain technology. It secured the 43rd position in CoinMarketCap. GALA’s price was trading at $0.6054 with a 24-hour trading volume of $1,709,763,334. GALA can be traded on popular crypto exchanges such as Binance, Mandala Exchange, Huobi Global, and FTX.
5. Enjin Coin (ENJ)
Enjin Coin (ENJ) is a digital store of value used to back the value of blockchain assets like non-fungible tokens (NFTs). ENJ is a project of Enjin, a company that provides an ecosystem of interconnected, blockchain-based gaming products. Tokens minted with the Enjin platform are unique, and ENJ uses smart contracts to mint new, unique fungible, or non-fungible ERC-1155 tokens. ENJ’s price was trading at $3.40 with a 24-hour trading volume of $523,452,632 at the time of writing. The circulating supply of ENJ is 838,603,684.07.
6. UFO Gaming (UFO)
UFO Gaming is a decentralized social gaming token designed for intergalactic play. It includes P2E (Play to Earn) Metaverse, Virtual land, NFT, Gaming, and IDO Launchpad features. Users can stake UFO tokens or own land on the game’s dedicated planet for tiered access to highly anticipated gaming projects added to the dark Metaverse. According to CoinMarketCap, UFO is trading at $0.00004453 with a 24-hour trading volume of 18,648,828, and a circulating supply of 25,757.58B UFO. It can be traded on major crypto exchanges such as Bitget, ZT, Gate.io, Bitrue, and BitMart.
7. Illuvium (ILV)
Illuvium (ILV) is a fantasy battle game built on the Ethereum blockchain. The game world features creatures known as Illuvials, which players can capture by defeating them in battle and nurturing them back to health. Unlike other blockchain-powered games, Illuvium offers a fully 3D environment with over 100 unique Illuvials found throughout its various regions. As per CoinMarketCap, ILV is trading at $1,529.02 with a 24-hour trading volume of $86,63,936, and a circulating supply of 642,799.06 ILV. It can be traded on top crypto exchanges such as Binance, Mandala Exchange, OKEx, KuCoin, and Hotcoin Global.
8. Yield Guild Games (YGG)
Yield Guild Games (YGG) is the 8th top metaverse by market cap and a decentralized autonomous organization (DAO) that invests in virtual world-non-fungible tokens (NFTs). YGG has built a community of players and investors who make money by investing in NFTs used in decentralized games. NFT ownership will increase in value as the economic worth of the in-game asset rises, reflected in the NFT’s value on the open market. According to CoinMarketCap, YGG is trading at $7.37 with a 24-hour trading volume of $79,637,390 and a circulating supply of 68,309,471.13 YGG. It can be traded on top crypto exchanges such as Binance, Mandala Exchange, OKEx, Huobi Global, and KuCoin.
9. MyNeighborAlice (ALICE)
MyNeighborAlice is a multi-builder game that allows players to buy and own virtual islands, collect and build items, and meet new friends. The game’s native utility token is ALICE, which is used for in-game currency, governance, and player incentives. ALICE has secured the 145th position on CoinMarketCap and can be traded on top crypto exchanges such as Binance, Mandala Exchange, Huobi Global, FTX, and KuCoin. ALICE is trading at $20.52 with a 24-hour trading volume of $338,326,171.
10. Star Atlas (ATLAS)
Star Atlas is a massively multiplayer online game that takes place in a virtual gaming metaverse, combining different genres to deliver an immersive gaming experience. Players can earn virtual assets that can be exchanged for real-life currency. Star Atlas is set up on the Solana blockchain and is the 10th top metaverse by market cap. ATLAS is trading at $0.1792 with a 24-hour trading volume of $50,233,965, and a circulating supply of 2.16B ATLAS. It can be traded on major crypto exchanges such as FTX, Bitget, ZT, Gat.io, and Bitrue.
As the metaverse continues to grow, the demand for cryptocurrency projects that power it will also increase. The top 10 metaverse coins mentioned above are just a few of the many projects that are gaining popularity in this space. As with any investment, it is important to conduct thorough research and assess the risks before investing in any cryptocurrency project. However, if you are interested in exploring the potential of the metaverse, these coins may be a good place to start.
Frequently Asked Questions:
Q: What are the different types of metaverse coins in the market?
A: The three types of metaverse coins in the market are:
– Play-to-earn (P2E) games: Players engage in games and receive rewards with real-world value. These are the most common and popular type of metaverse crypto and are widely available in exchange platforms.
– 3D virtual metaverses: These offer a virtual universe experience, much more complex and valuable than other types of metaverse currencies. They can also serve as platforms for P2E games.
– Metaverse platforms: These include the blockchains that serve as the foundation of 3D metaverses.
Q: What should investors consider before investing in metaverse coins?
A: Investors should consider various factors before investing in metaverse coins, including:
– The asset’s market capitalization
– The technology and infrastructure of the metaverse platform
– The popularity and user base of the metaverse platform
– The potential for future growth and development of the metaverse ecosystem
– The risks associated with investing in a new and emerging technology and market.
Q. How many metaverse coins are there?
At the time of writing, there are almost 237 metaverse coins listed and with the booming metaverse industry they are increasing in number day by day.
Q. What are top 5 metaverse coins?
As per the market cap, below are the top 5 metaverse coins
4. Gala (GALA)