Top Crypto Coins to Get Exposure to the Metaverse in 2022

The metaverse’s time has arrived. Following Facebook’s announcement that it would be changing its name to Meta, “metaverse” was on everyone’s lips and it quickly became one of the top crypto buzzwords of 2021.

People can now immerse themselves in blockchain-based virtual space, in which the digital and real worlds converge. Users can access the metaverse via their phones, computers, or VR headsets. They can create games, host events, buy and sell parcels of “land”, set up businesses and generate income, all within the metaverse, using cryptocurrencies and NFTs to create and exchange value.

There are a number of ways in which investors can gain exposure to the metaverse. We’re going to take a look at some of the top blockchain metaverse projects and the coins associated with them.

Top Metaverse Coins for 2022

Axie Infinity (AXS)

Axie Infinity (AXS) is a blockchain-based game, which is quite similar to, and was inspired by, Pokemon Go.

In the Axie Infinity metaverse, players aim to collect cute digital pets (called axies), which they then breed, train and take into battles with other axies. Each axie is represented by an ERC-721 non-fungible token.

The Axie Infinity metaverse world is called Lunacia, which is split into over 90,000 plots of land. Each plot is either: Savannah, Forest, Arctic, Mystic, Genesis, Lunas Landing, or Map. Players can cultivate, buy and sell plots of land.

Axie Infinity is based on a “play-to-earn” model. This means that players can actually earn an income from participating in the Axie Infinity metaverse. Players can buy and sell their axies, or plots of digital land in Lunacia to earn an income. In addition, holders of AXS can stake the token which generates a high APR.

Axie Infinity is primarily built on the Ethereum blockchain, however, Ronin, a high-speed side-chain, is currently in development and is due to be completed in 2022.

Decentraland (MANA)

Decentraland (MANA) is the original metaverse token that was launched in 2017.

It styles itself as the “first-ever virtual world owned by its users”.

Decentraland is quite similar to the idea of Minecraft, in the sense that it is a 3D virtual world which users can build, but is blockchain-based.

Players use two tokens in the Decentraland metaverse – MANA and LAND. MANA is an ERC-20 token that can be burned to create LAND tokens. Each LAND is a non-fungible token (NFT) and represents a plot of land in the Decentraland metaverse. Decentraland is divided into over 90,000 plots of land, which players can develop, buy and sell.

The Sandbox (SAND)

The Sandbox is a metaverse where users can play, build, own, and monetize their virtual experiences.

Users can create and sell their own NFT creations in the Sandbox, and use NFTs as elements in the Sandbox game maker.

The Sandbox metaverse is subdivided into 166,464 LANDS (NFTs), which are “creative sandboxes” that players can purchase and terraform to create a unique space. Owners have the option of renting their LANDS to other players, who can then use that LAND to build a game or unique space.

SAND is the main utility token of the Sandbox metaverse and has a number of functions within the ecosystem.

For example:

• Players use SAND to buy elements to customize their avatars;
• SAND is used as a governace token, which allows holders to influence the future of the project;
• Users can also stake SAND tokens to earn passive income.

The Sandbox was one of the more successful metaverse projects in terms of attracting high-profile partners and investors in 2021. Over 50 brands have partnered with the Sandbox with the intention of building games on the platform. As well as this, the Sandbox has attracted investments from the likes of Binance, Animoca Brands, and Square Enix (who developed Tomb Rader and Final Fantasy).

Enjin (EJN)

Enjin provides a platform for individuals and developers to create, trade, distribute, and integrate NFTs into virtual worlds. The Enjin ecosystem consists of an NFT minting platform, a wallet, marketplace, SDKs and plugins, an API, and a QR code asset distribution service.

The Enjin wallet supports Bitcoin, Ethereum, Binance Coin, Polkadot, Kusama, Dogecoin, Litecoin, ERC-20, BEP-2, as well as ERC-1155 and select ERC-721 tokens.

Enjin Coin (ENJ) is the native cryptocurrency of the Enjin platform. Users can use ENJ to buy, sell and trade NFTs. It is also used to create, manage and destroy in-game elements.