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What Are Metaverse Coins?
Simply put, metaverse coins are the currency that people use in the metaverse. Coin holders can pay for anything within the 3D universe, from avatar clothing to real estate. They can also create and sell products, goods, or services within the platform. While some tokens are available for use only within their respective metaverses, others are available on cryptocurrency exchanges like Binance.
But more than an in-game currency, metaverse tokens have value both inside and outside of the metaverse. For one, the currency can represent unique items, like community membership. Using these coins can also grant you access to VIP features and allow you to compete with other players.
Furthermore, you can convert metaverse coins into real money. In the case of non-fungible tokens (NFTs), you can use them to verify the ownership of digital assets like artworks or collectibles.
Here are a few rising tokens used in the metaverse.
Mana is an Ethereum (ERC-20) token used to purchase land or wearables in Decentraland. MANA is the native token that fuels the famous DAO platform, Decentraland. Mana was introduced to run online commerce in Decentraland. MANA was airdropped in 2017 for 0.01009 USD; its price has steadily increased to 2.63 USD at the time of writing.
Axie Infinity Shard is a governance token built on the Ethereum (ERC-20) protocol. As a governance token that powers the popular play-to-earn game network, Axie Infinity, owning AXS Tokens gives you the right to participate in decision making,
2021 was a good year for AXS because of how popular the game Axie Infinity became, hitting up to 2.33 billion USD in total sales since its launch in 2018. Players earn AXS when they win games within the Axie Infinity Universe.
Sand is a utility token used for transactions and interactions in the Sandbox ecosystem. It is an (ERC-20) utility token built on the Ethereum blockchain with a limited supply of 3 billion sand, approximately 1 billion of which is in circulation.
The SAND Token is used for value transfer, staking, and governance. Users can collect sand through gameplay and spend it in the game to purchase equipment or customize avatar characters. Sand has many use cases in the SANDBox Metaverse, including being a medium of exchange, governance, staking
The Theta token is the governance token that powers the Theta blockchain. Video advertisers needed a way to stream their content using Blockchain Bandwidth (BB), hence creating the Theta token. At the time of writing, theta has been valued at $2.64 and may increase further as the metaverse continues to improve the video experience. Theta is one of the tokens that stands to benefit from the advancement in virtual reality in the metaverse.
Theta is the first blockchain in the metaverse that allows creators to share video content over its network. Theta has positioned itself as the advertising agency of the metaverse.
Tezos (XTZ) Tezos is an energy-efficient blockchain where developers, artists, entrepreneurs, and brands can build and engage with a network of decentralized applications. XTZ is the token that powers the Tezos blockchain.
It is safe to call Tezos the Smart Contract Blockchain, as developers use its software to deploy smart contracts. One thing that makes the Tezos blockchain unique is its ingrained democratic system. Governance decisions are made based on what the majority of Tezos holders choose.
There are several tokens native to decentralized platforms that are created for specific platforms. However, they lose their value once you are out of the metaverse. These tokens can be transferred or sold for FIAT currency. The success of a metaverse token relies on the usage of its native platform. It is essential to keep an eye on the metaverse platforms that empower these tokens.
There are over 1,000 decentralized platforms in the metaverse. Most of these platforms have their own native tokens. It is advisable to keep an eye on Metaverse projects you are interested in to understand the tokens that drive them.
All listed coins are available for buying and selling as well as automated crypto exchange with over 300 altcoins as exchange pairs only on INSTANTEXCHANGERS.NET
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