The Metaverse has become a popular term among crypto enthusiasts. The idea of creating a digital world where people can own and interact with others ideally has grown significantly; today, even large industries like Meta Platforms have bought into the idea. The Metaverse is continually becoming popular, and more developments are made within the space to test further limits of Web3 technology.
Metaverse coins are simply 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. And if this is getting baffling, let’s just imagine the things you would do in an alternative reality that you can’t do in real life.
If you now get the picture, you won’t be amazed that people would spend a fortune in Metaverse coins to be able to interact with others in yes, the Metaverse, an alternate universe. What you can imagine, you can become and earn big money, that’s the amazing part. Let’s take the tip from one metaverse connoisseur:
Metaverse is immersive experiences that let you do things with other people, like having fun adventures,
Craig Donato, the chief business officer of modern metaverse poster child, Roblox
Today, there are several Metaverse coins in the crypto market. At the time of this writing, Metaverse coins constitute a total of $11,466,125,994 of the total crypto market capitalization according to the Coinmarket cap. Similarly, the overall trading volume of Metaverse tokens has gone up by 11.99% to $2,233,892,951.
In the current crypto market, several Metaverse coins are listed, and in this article, we will discuss the top metaverse coins by market cap.
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ApeCoin (APE)
ApeCoin is the native token used for governance and utility purposes within the APE ecosystem. Following the sensational Bored Ape Yacht Club project, the APE ecosystem has made significant strides to propel the Metaverse concept to greater heights. The Yuga Labs’ success with the Bored Ape Yacht club has spilled over to the ApeCoin, a metaverse token designed to allow the governance of the APE ecosystem. The ApeCoin is a means to govern the ApeCoin DAO Ecosystem Fund by determining how the funds should be used. The voting rights are obtained by holding ApeCoin tokens, which are ERC-20 governance tokens within the APE ecosystem.
ApeCoin was inspired by the Yuga Lab’s Bored Ape Yacht Club project, which has received attention from several celebrities on the internet. The ownership of Apecoin allows developers to interact with the platform and incorporate ApeCoin into services and games.
The current Apecoin price is down by 9.99% within the past 24 hours, with a 24-hour low and high of $5.05 and $5.87, respectively. The Apecoin trading volume of APE has, however, gone up by 32% within the last 24 hours. The overall market rank of ApeCoin is #36, according to Coinmarket cap’s ranking by market cap. The token has a 0.16% market dominance of the entire crypto market today.
Decentraland (MANA)
Decentraland is one of the popular Metaverse platforms. The Decentraland is a virtual reality platform that runs on the Ethereum ecosystem. The popularity of Decentraland rose with the increasing attention given to Metaverse tokens. The Decentraland platform essentially used two tokens, namely the MANA and LAND. MANA is an ERC-20 token, while LAND is a non-fungible ERC-721 token. The two tokens are essential for the success of the Decentraland project.
The Decentraland platform allows creatives to create and monetize content on the platform. Using the MANA token, users can purchase LAND in the form of NFTs and develop them on the Decentraland platform. The platform is limitless and continues exploring all the Web3 possibilities, implying a brighter future for the MANA token and the Decentraland platform.
Currently, MANA token price is in a downward trend; however, a more optimistic future is predicted. The current price is down by 6.9% within the past 24 hours, while the trading volume is up by 7.5%. MANA’s 24-hour minimum and maximum prices are $0.727 and $0.8, respectively. The current rankings by market cap position Decentraland’s MANA at #40 with a total market cap of $1,365,259,575.68. The current market capitalization is down by 7.43% despite the projected bullish trend for the long term.
The Sandbox (SAND)
The Sandbox platform was launched in 20211 by Pixowl. The platform extensively explores Web3 possibilities as it encourages developing, creating, and selling digital assets on its platform. Since then, Sandbox has continued to improve its platform to ensure sustainability and efficiency for its users. The Sandbox platform focuses on the gaming community by incorporating the power utilities of the Decentralized Autonomous Organizations and Non-Fungible Tokens.
The Sandbox’s primary focus on the gaming platform aims to introduce the unique features of blockchain technology to online gaming. The efforts have been somewhat successful up to date, as witnessed by the stellar performance of its native crypto token, SAND.
The SAND token price has declined within the past 24 hours by 6.9%. Despite the price change, The Sandbox trading volume is up by 15.95%. The Market rank of the SAND token is #41 by overall market cap. The SAND token commands 0.13% of the total crypto market cap. The SAND tokens are predicted to have a positive growth rate in years to come, based on its innovative model that promotes earning for creatives and gamers on its platform.
Axie infinity (AXS)
Axie Infinity is a unique blockchain project that incorporates the unique selling points of blockchain and Web3 technology. The platform allows users to interact by trading, collecting, raising, battling, and breeding token-based creatures, known as Axies. Several variations of the Axies with several body parts contribute to a wide variety of options available on the platform.
The Axies are considered NFTs with unique features that cannot be replicated. The creatures can be bred to give rise to unique creatures with different features. The potential is essentially limitless. The Axie Infinity platform, therefore, has a governance system.
The AXS is the governance token for the Axie Infinity platform. The AXS is short for Axie Infinity Shards. By holding the AXS token, you get the privilege to determine the organization’s direction through a voting system.
Currently, the AXS token is ranked #46 by the Coinmarket cap, which considers the overall market cap of cryptocurrencies. The AXS token constitutes 0.11% of the total crypto market valuation. Current statistics show that the AXS coin has declined by 7.55% within the last 24-hour period. The Trading volume of AXS has also dramatically dropped by 10% to 105,366,567.67. The Axie Infinity Shards (AXS) governance token is projected to have a positive growth trajectory over the following years as the Metaverse concept continues to grow.
Theta Network (THETA)
The Theta Network is a revolutionary blockchain project that aims to disrupt the video streaming industry. The Theta Network benefits from the advice of two industry-proven professionals, Steve Cheng and Justin Kan, who are Youtube Co-founder and Twitch co-founders, respectively.
The ability to associate themselves with verifiable and credible industry professionals boost their credibility. The platform has its own native cryptocurrency, known as THETA. Theta is primarily used to run governance tasks around the Theta metaverse ecosystem.
The Theta metaverse crypto coin has performed well since its launch. The token has, however, experienced price declines within the past few days due to the overall bear sentiment on the Crypto and metaverse coins in general.
The current bear market has affected several metaverse platforms; the THETA token has registered a 7.55% decline within 24 hours. However, the trading volume is up by 3.13% to a total of $47,676,409.56. The current THETA market cap stands at $1,099,044,965.05, which positions it as #47 by market cap rankings on the Coinmarket cap.
Enjin Coin (ENJ)
The Enjin Coin is part of the Enjin ecosystem, a project that provides blockchain-based solutions to the online gaming industry. The parent Enjin network is a robust blockchain network platform that allows users to create clans and websites. The interaction with the social gaming platform allows users to host virtual items on the platform.
The platform allows the developers to tokenize the digital assets within the virtual world. The continued buying and selling of these digital assets increase the overall activity of the platform, becoming beneficial to both ENJ metaverse coin holders and developers on the Enjin network.
The creators and users of the Enjin network platform can take advantage of the anti-inflationary policy of the network. Similarly, the platform provides instant liquidity and reserve values that are huge incentives for the Metaverse projects.
The ENJ token is currently ranked at #74 by market cap on Coinmarket cap with a total market capitalization of $502,489,307.94. The ENJin coin price is currently down by 7.05% within the past 24 hours, with a market share of 0.05% of the total crypto market cap. The token appears to be struggling at the moment as its 24-hour trading volume has also gone down by 3.43% to a total of $65,673,346.54. However, the ENJ price predictions for the long term are bullish as more adoption of the Metaverse platform is anticipated.
Stacks (STX)
Stacks is an innovative layer 1 blockchain project aiming to uplift Bitcoin’s technical potential. Layer 2 blockchain projects addressed several limitations to the Bitcoin network. The Stacks projects seek to enable the Bitcoin network to utilize smart contracts and other decentralized applications (DApps) capabilities.
Essentially the technology allows developers to create other projects on other projects, allowing the Decentralized apps to be open and modular for improvements and further developments, a feature that inherently lacks on a typical Bitcoin network. The platform benefits from the security of the Bitcoin blockchain, which is arguably the most secure blockchain network to date.
The Stacks platform aims to enhance the abilities of the blockchain network by fueling the execution of smart contracts. Similarly, the platform facilitates the registration of new digital assets and efficient transaction processing on the Stacks 2.0 blockchain.
Currently, the Stacks (STX) token has experienced a total price decline of 8.31% within the past 24 hours. Despite the decrease, the cryptocurrency’s trading volume is up by 8.53%. The STX coin’s current market cap is at 470,292,055.08, indicating a 7.96% increase. The Metaverse token is ranked at number #78 on Coinmarket cap’s ranking.
Zilliqa (ZIL)
The Zilliqa platform is a unique blockchain platform that is well known for its ability to complete multiple transactions faster per second. The platform brings efficiency to the blockchain world with its ability to complete thousands of transactions in seconds. Also, it is reportedly the first public and permissionless blockchain to depend entirely on a shared blockchain network.
The Zilliqa project was founded by Prateek Saxena, a university assistant professor in Singapore. Prateek and his students determined that sharding on a blockchain could significantly increase the speed and efficiency of the network, a concept that led to the birth of Zilliqa.
Today, the Zilliqa platform achieves impressive throughput as required. The platform’s ability to process several transactions per second allows it to be a blockchain of choice for large enterprises. The blockchain solution has proven to be extremely instrumental in providing efficient services to industries, including but not limited to advertising, financial services, and entertainment. The platform had achieved more than one million transactions per month by 2021.
The Current Zilliqa ZIL metaverse crypto coins are recording a price decline caused by the general bear sentiment engulfing the entire crypto market. The ZIL token has registered an 8.03% decline in trading price within 24 hours and a 19.89% decline in overall trading volume. The current ranking places the ZIL metaverse crypto at #79, with a total market capitalization of $461,116,158.75. Notably, the market cap of the ZIL token is down by 7.52% despite the optimistic price predictions of the Zilliqa in subsequent years.
Wax (WAXP)
WAX is an e-commerce focussed blockchain technology that is developed to improve the efficiency of transactions within the e-commerce space. The blockchain ecosystem allows for faster transactions between vendors and buyers. The WAX is completely compatible with Entrepreneurial Operating System (EOS), making it extremely scalable and applicable in several instances within the e-commerce space.
Additionally, the WAX platform operates under the DPoS, a consensus mechanism known as delegated proof of stake. The ecosystem allows for innovative developments within the e-commerce sector by encouraging the development of its blockchain tools that support the DApps.
The WAX ecosystem has developed several utilities for the e-commerce platforms, such as the incorporation of WAX Cloud Wallet and OUTH support for e-commerce platforms. The innovative platform also has a provision to allow WAXP holders to convert to an ERC-20 friendly WAXP token version known as WAXE. by bridging to the Ethereum network.
The current price of the WAXP token, the native digital asset within the WAX metaverse project, is down by 10.11%. The current crypto market is undergoing a significant downward movement, resulting in an overall decline in the crypto market cap. The WAXP token’s trading volume is up by 41.82%, which shows sufficient activity on the exchange platforms. The current WAXP token market cap is $198,273,982.44, ranking it at number #137, ranking by market capitalization on the CoinMarket Cap crypto comparison platform.
Ontology (ONT)
Ontology is a Web3 project that is developed to strengthen the privacy, security, and trust of Web3 technology. The web 3 project plans to incorporate decentralization in data handling to ensure the safety and privacy of Web 3 projects. Ontology ensures that digital identity data is regulated to ensure trust from enterprises and individuals. The platform demands compliance from all parties to ensure frictionless handling of digital identification.
The Ontology platform has seamless compatibility with the Ethereum blockchain through the Ontology’s Ethereum Virtual Machine ensures interoperability across several blockchains. The platform allows for seamless integration of the virtual and physical worlds, allowing more specific developments within its platform.
One major challenge faced by Web3 developers is interoperability which in turn thwarts scalability. Ontology plans to bridge these gaps and allow Web3 developers to experience smooth development processes across multiple virtual machines and blockchains in general. The success of Ontology will directly translate to the positive growth of the ONT metaverse coin that is native to the platform.
As of this writing, the ONT token trading value has declined by 1.55%. The token, however, recorded an increase in trading volume of 13.02% to a total of $24,867,595.42. The general sentiment on the crypto market is bearish, as many tokens have reduced trading prices. The tokens are currently ranked at number #135 on the Coinmarket cap’s ranking by market capitalization, commanding 0.02% of the total crypto market share.
PlayDapp (PLA)
PlayDapp is a blockchain platform that is focused on digital gaming. The PLA token is the native token of the PlayDapp gaming blockchain that allows players to buy and sell digital assets within the Metaverse.
Metaverse coins such as the PLA have a bright future due to the utility provided by their native platforms. The PlayDapp blockchain metaverse project targets to make blockchain gaming more accessible and mainstream. The platform essentially converts regular environment games to metaverse games on its platform.
The players can then interact with the Metaverse coin, PLA, within the virtual world through augmented reality technology. The Metaverse coins are poised to grow as more players adopt the PlayDapp platform and the demand for PLA tokens increases. The platforms are currently on track to partner with more metaverse game developers to increase activity within the platform.
The PLA token is used to purchase in-game items. The token can also be used to purchase a variety of NFT assets within the PlayDapp ecosystem. It currently trades on Binance, Phemex, and MEXC crypto exchange platforms.
The current price of PLA tokens has been reduced by 3.70% within 24 hours. The trading volume has dramatically reduced by 29% within 24 hours to record an overall daily trading volume of $20,890,412.00. The PLA token is currently ranked #152 with a market cap of $165,704,631.66, representing a total decline of 3.91%.
SushiSwap (SUSHI)
SushiSwap is an Automated Market Maker (AMM) which depends on an elaborate mathematical formula to price digital assets. The Sushiswap is a popular decentralized exchange platform that automates the pricing between two digital assets on its platform based on the difference between liquidity.
The Sushiswap platform allows profits from the transactions made on its platform as it reportedly holds 0.3% of the transaction fees. The platform thrives among DeFi fans as it profits from liquidity providers looking to take advantage of DeFi projects that have recently experienced an influx of investors.
Sushiswap is forked from Uniswap and intended to increase user involvement compared to Uniswap. The token, SUSHI, is used as a reward system on the platform. Additionally, the SUSHI coin is used for governance purposes within the platform. The SUSHI token is freely traded and can be found on multiple crypto exchange platforms around the globe.
The SUSHI token is currently on an uptrend within the last 24 hours. The DeFi token is up by a modest 1%. The positive price change assures users of the stability of the platform and its projected future excellence. The SUSHI token has a 24-hour trading volume of $45,907,894.39, representing a 24.99% decline. With a market rank of #159, the SUSHI token has a market cap of $152,074,685.23.
Render Token (RNDR)
The RNDR, as the name suggests, is distributed rendering platform for GPUs. The idea is to bridge the gap between artists and creatives who struggle to access the required GPU power when going about their businesses. The RNDR creates a platform that allows for sharing GPU computing power with the creatives using its platform. The RNDR token is an ERC 20 token that operates on the platform.
Ideally, the RNDR token is comprised of elaborate proof of work automatic and mechanical systems. The artists can access the shared GPU computing power by paying using the RNDR token. The RNDR advisory board consists of renowned industry payers who increase the credibility of the platform’s future growth.
Currently, the RNDR coin is decreasing in price. The token has registered a 1.85% decline in value over the last 24 hours. The trading volume of the Render token has also declined significantly by14% showing a reduction in the activity of the token on exchange platforms. The current Render token crypto market dominance stands at 0.01%. The Market cap of RNDR tokens currently stands at $130,286,162.52, representing a decline of 1.63%. The token ranked #167 on the Coinmarket cap ranking system by market cap.
CEEK VR (CEEK)
CEEK is a metaverse project that allows creators and artists to connect with their fans. The metaverse project provides unique experiences for both digital art creators and advertisers on the platform. Essentially, it gives an additional income opportunity for digital creators.
The CEEK virtual reality can be accessed through their website or by using customer Virtual reality headsets. The experience allows fans to attend live events with their friends to support the artist of their choice. The activity on the platform is monitored closely, allowing advertising agencies to analyze traffic activity for advertising purposes.
The CEEK VR token, known as CEEK, has benefited from partnerships with big industry players like Apple, Microsoft, and Universal music. The partnerships will propel the token to achieve its mission of creating an accessible decentralized virtual reality platform to become one of the best metaverse ecosystems.
The CEEK token currently trades on multiple crypto exchange platforms. The token’s price has been down by 3.5% within the last 24 hours. The 24-hour trading volume is $8,166,022.24, indicating an 18.26% decline. The CEEK metaverse coins have a total market cap of $127,972,324.62, showing a decline of 2.87%, ranking at #168 on CoinMarketcap.
Ultra (UOS)
The Ultra platform is an ecosystem that promotes video gaming and other video game content. The Ultra platform aims to open up the video publishing industry to all game developers and allow for free publishing, liberating many developers from the monopoly of big game publishing ecosystems like Steam.
The Ultra platform provides an extensive marketing strategy with tools that equip game developers to be ready to hit the ground running. The platform has successfully built a platform that promotes PC game publishing that apparently outshines the existing gaming platforms in the market.
Ultra provides an elaborate reward system for all participants making it useful and lucrative for all users. The platform allows game developers to earn 21% more and receive payments faster than other conventional game publishing platforms. The players also have an option to earn money by interacting with the platform through advertisements and game curations.
The current price of the Ultra UOS token has been down by 2.46% within the last 24 hours. The Ultra UOS coin’s trading volume is up by 0.86% to $1,571,103.05. Its market cap at $125,997,178.16 ranks it at #169.
Reef (REEF)
The Reef ecosystem is a first layer 1 blockchain that brings together DeFi, NFT, and Gaming. The ecosystem runs on the substrate framework that allows for massive scalability- a major challenge for many blockchain systems.
The Reef Chain is arguable the most efficient and advanced chain that is perfectly compatible with Ethereum Virtual Machine. The interoperability it provides allows for token bridges as it continues to develop and support other virtual machines.
The REEF token is the native digital token of the Reef ecosystem that runs under the nominated Proof of Stake consensus mechanism. Essentially the token is used to run validator nodes through staking. Similarly, the REEF coin is used to pay the fees for storing the data as well as processing the transactions within the ecosystem.
The price of REEF is currently down by 15.11% within the past 24 hours. The token decrease in price is also witnessed due to the decrease in its overall trading volume. Within the last 24 hours, the REEF token recorded a trading volume of $296,939,693.87, which is an 8.14% decline in trading volume. REEF coin is one of the top metaverse coins by market cap, with a total market cap of $105,914,961.33, which implies a reduction of 9.96%. The current rankings by Coinmarket cap place it at #183.
XYO (XYO)
The XYO is a technology protocol that is designed to improve the validity, certainty, and value of data. The platform claims to build a robust data marketplace that allows users to interact with verifiable data.
The XYO network currently has over 5 million nodes and claims the platform is to be the first reality oracle. XYO aims to increase the trust for data within web 3 platforms and provides absolute ownership of data to their owners. The innovative data management project XYO comes at a time when the world is shifting to big data, and decisions are essentially data-driven.
The probability of success of the XYO token is high since the token runs on the popular and ever-evolving Ethereum network. The XYO token price is currently up by 0.35% despite the overall bearish trend in the crypto market. The XYO token trading volume is down by a significant 67.24%, to $872,450.39, within the past 24 hours. Currently, it commands a 0.01% share of the total crypto market cap, and the token is ranked at#189 on the Coinmarket cap website.
Chromia (CHR)
Chromia is a public blockchain that is open source and public and was conceived by Chromaway AB. It is a layer 1 blockchain but also compatible with EVM layer 2 and Binance smart chain. The project enhances blockchain capabilities by allowing more scalable decentralized applications to be built upon it.
The Chromia has several decentralized applications already built on its platform, and the layer 2 platform pushes for the development of Dapps in a unique and scalable way. Every decentralized application on Chromia is designed to run on its own sidechain, with a link to Chromia’s mainchain to allow for scalability.
The flexibility the Chromia platform provides promotes innovative developers to continue exploring the endless possibilities of Web3 technology while also improving data handling.
The transaction fees on this platform are paid using the CHR tokens. There are also possibilities to perform DeFi functions such as staking of CHR, which promotes the growth of the metaverse crypto project. The current CHR price is down by 4%, and the trading volume is down by 23.89%. The current market cap of CHR is $90,133,149.50, ranking it at #263 on the Coinmarket cap. Its market cap constitutes nearly 0.01% of the total crypto market capitalization.
WEMIX (WEMIX)
The blockchain-based solution aims to provide a metaverse gaming solution with minimal gas fees and high transaction speeds. High gas fees and slow speeds have been serious hindrances to blockchain solutions across the spectrum, from gaming to financial services.
The WEMIX platform aims to massive recruitment of conventional gamers into its platform. There are currently over 1 billion online gamers worldwide, so the platform seeks to provide its users with a simple, easy-to-use platform that utilizes Web 3 technology. The idea is to bring simplicity to gaming as a unique selling point, challenging other metaverse projects that are overly complicated and somewhat expensive.
The WEMIX coin’s current trading price has declined by 2.55% within the past 24 hours. The WEMIX native token has also recorded a decline in trading volume of up to 71.18%, and its current 24-hour trading volume stands at $16,429,302.80. The token’s market cap is currently at $241,121,693.03, putting it at position #226 as ranked by the CoinMarket cap platform.
RadioCaca (RACA)
The RadioCaca metaverse and virtual worlds were introduced in 2021 as the RACA NFT marketplace. After the launch, the platform underwent rigorous positive growth, which saw the platform record a trading volume of about $1.3 billion in April 2022.
Due to its innovative NFT collection, vibrant community, and general social media presence, the token has continued to grow as the platform enlarges. It is compatible with both the BNB chain and Ethereum.
The RACA metaverse coin’s price decreased by 4.09% within 24 hours. Its trading volume has also gone down by 8.99%. The RACA market cap is currently at $111,738,026.59, placing it at #243 on the Coinmarket cap rankings.
Other Metaverse projects
The Metaverse coin list above covers the top 20 metaverse tokens by market cap at the time of this writing. However, several other tokens are worth mentioning due to the promising nature of their ecosystems and virtual worlds.
Other notable Metaverse coins include Biswap, Vulcan Forged, Adshares, inSure DeFi, MAGIC, UFO Gaming, and Lukso. Undoubtedly there are many other Metaverse coins, and more are still being released in a quest to develop the best metaverse crypto.
Conclusion
The Metaverse is a relatively new concept in blockchain technology development, and most developers are on a learn-as-you-go basis. However, some proven use cases of the Metaverse, such as NFTs, are already existing as more explorations continue. The Metaverse coin list continues to grow and change over time as new Metaverse projects are developed.
Source: https://www.cryptopolitan.com/metaverse-coins-list/