Metaverse And Cryptos: Top Tokens To Watch Amid Hype
Metaverse is on the air, and the tech and cryptocurrency sectors are discussing its potential, pros, and cons.
Although the concept has been in the talks since a long time ago, Facebook’s announcement via its CEO, Mark Zuckerberg, about rebranding the company to ‘Meta’ and unveiling its plans to launch a metaverse for the social media network’s users.
In the case of the cryptocurrency industry, some projects are working around this concept and trying to assess how to extract the best of this relatively-new world. But, what is the metaverse?
The concept can be defined as a confluence of humans’ physical and digital lives via augmented reality, extended reality, and virtual reality. Its potential at least is huge, considering that the technology had advanced at giant steps in a matter of years. Artificial intelligence is also another front that comes to play a role and has seen a huge boom across tech companies’ business lines.
Bloomberg recently stated that the metaverse’s market size could reach $800 billion in valuation by the end of 2024, which suggests a golden egg or mine is around the corner, as the industry has the potential to skyrocket further in terms of adoption once it gets developed significantly.
As NFTs and the hype around it are also bolstering discussions on how it can be compatible with the metaverse, the fact is that some crypto firms and projects have already joined the metaverse’s bandwagon via the development of related tokens.
Top Three Metaverse Tokens To Watch
Axie Infinity (AXS) is an NFT-based online video game that relies on its in-house token to reward users via the play-to-earn concept. But not only is it about being rewarded with crypto tokens and participating in the game’s governance – having an active voice in the development of the video game. Its total supply is 270 million.
On the other hand, Enjin Coin (ENJ) arrived with a token that makes the work easy and simple for individuals and firms to deal with NFTs, which can be minted within the Enjin’s environment. Moreover, the project had grown significantly, even raising some funding that helped develop the network and the usage of its tokens.
The last on the list, but not the least, is The Sandbox (SAND), which is another token with high potential within the metaverse’s front because its players can monetize and own their gaming experience. The token is built on ERC-20 and runs through the Ethereum blockchain.