Top 3 Metaverse Tokens Explained

2022 might be the year that the Metaverse springs to life and there are already signs of that happening, not least in the crypto market. Today, we’re going to check out some of the hottest properties so far, before highlighting the key fundamental events happening this week.

The big 3 tokens by market capitalisation

The crazy rise in crypto gaming tokens over the last few months is genuinely staggering! This is partly down to the fact that many investors are more interested in NFTs, and they’re beginning to better understand this type of crypto token and are now moving to invest.

Here are the top 3 Metaverse tokens by Market Capitalisation

#1 Decentraland (MANA)

Decentraland is the open source 3D virtual world platform that you may have heard of recently. It’s users are able to buy plots of land within the platform using the MANA cryptocurrency — an ERC20 token.

Decentraland was launched in February 2020 and its crazy price rise at the end of last year is largely thanks to Facebook’s announcement, changing its name to Meta and Mark Zuckerberg promising to “bring the metaverse to life”.

Market Cap: 5,633,570,884 USD

Price 08.01.2021: 0.1157 USD

Price 08.01.2022: 3.10 USD

% change: +2,579%

MANA price, 12 months

Source: CoinMarketCap

#2 The Sandbox (SAND)

The Sandbox is a piece of software that runs on the Ethereum blockchain. It’s a virtual gaming world in which players can buy digital plots of land, called LAND, and create experiences on them to share with other users. So, it’s pretty similar to Decentraland, in that regard.

The Sandbox is much older than it’s contemporary, however, with the first version of the game having been created in 2012.

As it’s on the Ethereum blockchain, SAND is also an ERC-20 token, and is one of the two central currencies in the game — the other being ASSET tokens.

SAND investors/holders also have an awful lot to thank Mr. Zuckerburg for. The astronomical rise of the SAND token over the last few months again has almost everything to do with the Facebook statement, propelling the Metaverse into the spotlight.

Market Cap: 4,563,755,505 USD

Price 08.01.2021: 0.0461 USD

Price 08.01.2022: 4.99 USD

% change: +10,736%

SAND price, 12 months

Source: CoinMarketCap

#3 Axie Infinity (AXS)

Like The Sandbox, Axie Infinity is a game, albeit a slightly different one. Axie Infinity is a trading and battling game that allows players to collect, breed, raise, battle, and trade creatures known as “Axies”.

Players earn Axie Infinity Shards (AXS) by playing the game. The AXS token allows holders to vote on the future development of the gaming experience, acting as a governance token.

The eye-watering appreciation of AXS over the last few weeks and months is quite staggering. It’s grown over 12,000% since June 2021.

Market Cap: 4,574,158,164.10 USD

Price 08.01.2021: 0.6045 USD

Price 08.01.2022: 74.80 USD

% change: +12,273%

AXS price, 12 months

Source: CoinMarketCap

Are you excited about the Metaverse?

What do you think about the Metaverse? Have you invested in any of these tokens already? Will you? Tweet us your thoughts at @_contentworks; and if you’re looking for regular and insightful fintech marketing content, please follow us!

What’s on the trading agenda week commencing 10.01.22?

A busy week lies ahead for the currency markets. Here are all of the top events to take note of.

Monday

No major events planned.

Tuesday

No major events planned.

Wednesday

● CNY — Inflation Rate YoY (DEC); New Yuan Loans (DEC)

● USD — Core Inflation Rate YoY (DEC); Inflation Rate YoY (OCT)

Thursday

No major events planned.

Friday

● GBP — GDP 3-Month Avg (NOV); GDP YoY (NOV)

● USD — Retail Sales MoM (DEC); Preliminary Michigan Consumer Sentiment (JAN)

Here at Contentworks we closely follow market movements and prep content that we think your traders would love to read. Let’s get you started right here.

Speak soon!

The Contentworks team