Top 5 Valuable Metaverse Coins

MetaversePlanet April 1, 2022

0 4 minutes read

Navigating the extensive array of Metaverse coins on the market poses a challenge for new traders and investors seeking authenticity.

In this article, we, at Metaverseplanet.net, scrutinize the top five Metaverse coin projects, presenting them in order of their current market capitalization, from the least to the highest.

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1.Stacks (STX)

With a market capitalization of $1.6 billion, Stacks (STX) entered the scene in November 2019, establishing itself as a platform that seamlessly integrates the robust Bitcoin network with contemporary crypto trends like DeFi, smart contracts, and NFTs. The project’s overarching mission is to forge a superior user-owned internet that fully unleashes the potential of Bitcoin.

Recognizing Bitcoin as the most thoroughly tested network, Stacks takes a unique approach by connecting to this network via a layer 1 blockchain, introducing decentralized applications (dApps) and smart contracts. Notably, Stacks introduces the first consensus algorithm that operates between two blockchains, fostering a diverse ecosystem encompassing various dApps such as DeFi platforms, NFT marketplaces, social media apps, and more.

At the core of Stacks’ functionality is the utilization of Proof of Transfer, an innovative consensus algorithm facilitating the connection between Bitcoin and the Stacks blockchain. Through Proof of Transfer, Stacks introduces DeFi and NFT technology to the Bitcoin blockchain, expanding its capabilities. The native cryptocurrency driving the Stacks ecosystem is STX, offering users the ability to mine and stake their assets. Notably, STX plays a pivotal role in nurturing and executing smart contracts on the blockchain, underscoring its significance within the Stacks platform.

2.Theta Network (THETA)

Valued at $2.7 billion, Theta Network (THETA), launched in 2018, stands out as a distinguished NFT release platform, showcasing unique and authenticated NFTs.

Theta’s platform boasts NFTs from renowned personalities such as Katy Perry and popular shows like The Price Is Right. Although primarily recognized as an NFT marketplace, Theta Network transcends this categorization, offering a streaming platform where users can earn TFUEL tokens by watching streams and actively participating in its ecosystem.

Leveraging blockchain technology, Theta’s streaming platform enhances the traditional content delivery network, contributing to an elevated user experience.

Furthermore, THETA incorporates the TNT-20 token standard, providing companies and brands the capability to launch their tokens on the platform. Similar to widely adopted standards like BEP-20 and ERC-20, TNT-20 establishes a foundation for tokens released on the platform in 2022.

The native utility asset on the network is the THETA token, enabling users to access exclusive drops and acquire the latest NFTs available on the platform. The THETA token plays a pivotal role in facilitating transactions and enhancing user engagement within the Theta Network ecosystem.

Axie Infinity (AXS)

With a valuation of $2.9 billion, Axie Infinity, launched in March 2018, has emerged as one of the foremost Metaverse NFT-based play-to-win games in the market. Pioneering blockchain gaming, Axie Infinity stands out as one of the earliest platforms where players can earn a substantial income by actively participating in the game.

At the heart of Axie Infinity is the concept of users collecting monster NFTs known as Axies. Players have the ability to upgrade their AXS (Axie Infinity Shards), enhancing their attributes, engaging in battles, completing quests, and participating in the in-game marketplace. All in-game assets within Axie Infinity are tokenized, granting players full ownership and control over their virtual possessions.

To initiate gameplay, users must acquire an Axie from the marketplace. Axie Infinity has strategically implemented a separate chain, Ronin, and a decentralized exchange, Katana, to accommodate its expansive player base. The Axie Infinity ecosystem revolves around two primary tokens: Smooth Love Potion (SLP) and AXS. AXS serves as the primary governance token, while SLP functions as the primary utility asset, enabling users to upgrade their Axies and engage with various facets of the game. The distinct tokenomics within the Axie Infinity ecosystem contribute to its popularity and financial valuation within the Metaverse landscape.

The Sandbox (SAND)

Valued at $3.3 billion, The Sandbox, which unveiled its Alpha version in December 2021, stands as one of the most eagerly anticipated games in the crypto sphere. It not only holds the position as the second most valuable token in the market but also claims the title of the most traded Metaverse cryptocurrency. The Sandbox offers an immersive RPG-style Metaverse crafted with the Unity game engine, distinguishing itself as a significant competitor to Decentraland. Notably, The Sandbox sets itself apart by providing a desktop client, while Decentraland offers an in-browser experience.

The platform boasts a dynamic LAND market, with a robust collection available on OpenSea. Presently, the base price for a LAND plot in The Sandbox stands at 2.86 ETH (approximately $7.6k at the time of writing), underlining the platform’s vibrant ecosystem. The virtual real estate market on The Sandbox has witnessed transactions exceeding $400 million, emphasizing its considerable size and influence.

The recent launch of Alpha Season 2 in The Sandbox introduces users to a myriad of experiences. Users can explore the game without necessarily completing various missions, although the alpha pass provides access to additional features. Engaging in activities such as placing bets for prizes, acquiring diverse items, and accessing special events further enriches the user experience within The Sandbox.

Decentraland (MANA)

Boasting a valuation of $4.2 billion since its launch in February 2020, Decentraland has solidified its position as the most valuable Metaverse coin and the leading player in the realm of Metaverse coins. It stands out with the most popular LAND market and the highest user count among all the platforms on this list. Decentraland offers seamless accessibility through a browser and, notably, is entirely free for all players. Users are not required to purchase passes, and all experiences are open for exploration.

Decentraland provides an extensive array of places where users can actively participate in the play-to-win system, earning rewards in the process. The platform’s commitment to openness, accessibility, and the play-to-win model has contributed significantly to its widespread popularity and its prominent position within the burgeoning Metaverse landscape.