The early adopters of the Metaverse are gamers, social media users and decentralized finance. Some metaverse projects have been discussed since 2003, when the first virtual reality was implemented in Philip Rosedale’s “Second Life.” However, the concept garnered massive attention when Facebook rebranded itself as Meta and launched its own virtual world in late 2021.
So what is the metaverse ? Simply put, it’s about the potential future of the Internet, where users can immerse themselves in apps and websites instead of interacting through text on a screen. Using augmented reality (AR) and virtual reality (VR) technologies, these worlds will strive to resemble real life and perhaps even replace some real life activities. Regular users have already experienced virtual reality through products like Oculus VR headsets. Users from all over the world congregate in these spaces and interact using virtual avatars while playing games, socializing, watching content, and even attending concerts, shows, and conferences.
Technology blockchain is the latest crypto in the puzzle that can supplement the functionality of metaverses. VR ecosystems need to develop their own economies to be more like the real world. Cryptocurrencies can be used to facilitate fund transfers and purchases of virtual goods. Large metaverse projects have their own dedicated tokens that can be used to purchase avatars, skins, land, etc.
In addition to crypto, the metaverse is a relatively new concept that has the potential to be a promising venture for early investors. Some experts believe that metaverse tokens could be the future of crypto, as they have inherent buying power in the relevant metaverse. John Dough, an analyst at Currency.com, shared: “ Such games can attract masses of players to specific cryptos. I think this is going to be the next chapter in crypto. It’s going to be super popular over the next year. »
However, it is important to remember that any financial investment can be risky. It is crucial to understand how tokens and metaverse spaces work together. Here are some of the most popular metaverse projects and their crypto-tokens.
Decentraland is one of the most popular blockchain-based metaverse projects, with around 300,000 monthly users. Released in 2016, this project is one of the first widely talked about metaverses among cryptocurrency investors.
Its native MANA token can be used to purchase virtual land and real estate. Currently, the token is worth nearly $2.50, and the cheapest plot of land costs around 3,000 MANA. The most expensive plots have been sold for millions of dollars.
Besides purchasing real estate in the Metaverse, users can also purchase clothing and features for their avatars, and create spaces on their land, such as art galleries, concert halls, and game centers. .
The Sandbox is another great metaverse project that uses crypto and NFT technologies. The primary goal of The Sandbox is to empower users to create their own content, monetize it, and engage with their audience and other content creators.
As with MANA, Ethereum-based SAND tokens can be used to purchase land and custom avatars in The Sandbox. Prominent figures like Snoop Dogg, Deadmau5, and The Walking Dead series already have property in this metaverse.
Currently, the market cap of SAND is over $4.5 billion, with 1 SAND equaling $2.92. Tokens are used to purchase NFTs that allow metaverse participants to build, own, and earn money through their virtual gaming experience.
Axie Infinity is another popular metaverse designed for virtual gaming. With gameplay similar to Pokemon games, players can customize and purchase fantastic creatures and compare their strengths in battles with other players. The creatures are collectible NFTs and their ownership rights are registered on the Ethereum and Ronin blockchains.
Although an investment is required to start playing, play-to-earn structures actually allow many players to earn and withdraw real money. Axie Infinity Shard (AXS) is the platform’s control token that is used for governance, staking, and in-game purchases. Currently, 1 AXS is equal to $49.89.
After reviewing the most popular metaverse projects, let’s see how users can start investing in the virtual world by purchasing metaverse tokens.
The most convenient way is to use a reputable cryptocurrency exchange service like ChangeNOW. But you can also use Binance, CoinHouse or any Exchanges. The platform supports MANA, SAND, AXS and other metaverse tokens, a total of 380 digital assets. To trade, users do not need to register or provide any personal information, as it is a non-custodial service. We will use MANA as an example, as the steps to buy these tokens are the same.
Visit the website, or download the app for iOS or Android.
Choose a trading pair from the list and fill in the details. If you own other cryptocurrencies or tokens, you will most likely be able to trade them as there are over 70,000 trading pairs.
Alternatively, tokens can be purchased with fiats using Visa or MasterCard through Simplex and Guardarian integration.
Provide payment details and receiving wallet address. If you are paying in crypto, you will need to send the deposit to confirm the transaction.
Tokens like MANA can be stored in the in-metaverse wallet or another wallet that supports the token type. Make sure the chosen token type is supported by the wallet and the wallet address is correct, otherwise the funds will be lost.
Wait for the transaction to be confirmed and receive your tokens. There it’s done ! You are now metaverse token holder !
When you receive your metaverse tokens, you can use them to buy virtual goods like land, clothes, avatar features, etc. ChangeNOW is the easiest way to get in quickly with no extra hassle, whether you want to use metaverse tokens to buy things in a virtual world or hold onto them in hopes the price will rise.
Any financial investment can be risky, but the projects we talked about have earned the respect and support of the crypto and gaming communities. Metaverses are constantly evolving as they grow in popularity, and many new features and attributes will be added. This is a rare opportunity right now to participate in the massive shift from the physical to the virtual world.
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Investing in the Metaverse: Top 3 Cryptos and Simple Step-by-Step Guide to Placing Money in the Metaverse Today
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