Metaverse can be considered as the next evolution of the internet. With metaverse, immersive experience will be replaced with original information in an unimagined manner. With the help of Virtual Reality (VR), an individual can have access to the metaverse. With the use of display virtual reality devices such as VR smart glass, headset, and monitor tracking technology, an individual can walk independently in the metaverse instead of using a monitor computer and a keyboard for writing. Interacting with other people in the metaverse can be possible using those devices.
The metaverse world is not owned by any single or central entity, no president or governor. It used blockchain technology which prevents fraud and provides inherent security protection. Although like every other person, institutions, and enterprises can visit and interact on the metaverse freely.
In the subsequent paragraphs of this article, we will be exploring different things about metaverse which will range from what metaverse is down to the top 10 metaverse tokens based on market capitalization.
What Is Metaverse?
The word metaverse can be separated into two, meta meaning “beyond” and verse reference to the universe. In lay terms, the metaverse is an augmented reality technology where individuals meet virtually and explore realms beyond the reach of the physical. This technology takes individuals to an environment outside the earth, taking them to other regions of existence to get new exposure from these regions.
Using Market Capitalization, Below Are Top 10 Metaverse
1. Sandbox (SAND):
Sandbox has a native token called SAND. SAND is the bedrock of the platform economy, with it an individual can trade, buy, and sell virtual lands, make investments, and in-game items. Sandbox is a gaming platform and a platform that allows content creation where individuals can create, own, and gain from their virtual experience. The total market capitalization of $SAND is $872,373,800
2. Decentraland (MANA):
Decentraland is an Ethereum-built and virtual world project. MANA is the native token of decentraland virtual world, with it, users can buy, sell, invest, and trade virtual land and assets within the MANA ecosystem. Also, with MANA an investor can buy or invest in real real estate in the virtual world and can participate in decentraland platform governance. It has a total market capitalization of $765,535,201
3. ApeCoin (APE):
ApeCoin is built on the Ethereum ecosystem and it has a native coin called Ape. Ape is the native governance token that empowers the decentralized community building of the APE ecosystem. The Ape ecosystem includes the community of Bored Ape Yacht Club (BAYC) and Mutant Ape Club (MAYc). There are two NFTs collections on the Ethereum blockchain. The market capitalization of Apecoin is about $727,331,259
4. Axie Infinity (AXS):
Axie Infinity is a blockchain gaming platform. In axle infinity game, players can breed, collect, and battle digital creations called AXIES. Axies players can purchase, sell, and trade AXS tokens. Axie Infinity has rapidly grown in popularity, attracting many players and increasing value. Axies Infinity uses two elements which are; Pokemon and Tamagotchi. It has a total market capitalization of $722,582,147
5. Gala Games (GALA):
GALA is a blockchain platform that focuses on creating a smooth relationship between video games and blockchain technology. GALA is the native token. Within the GALA gaming ecosystem, a player can use GALA tokens to carry out transactions, own in-game and participate in the platform governance. The market capitalization of $GALA is $658,884,380
6. Flow Blockchain (FLOW):
Flow is a blockchain project built by the team behind crypto kitties, and it was developed for mainstream adoption. It focuses on providing a scalable and user-friendly ecosystem for virtual worlds and building decentralized applications (DAPPs). Flow blockchain has a native token called FLOW which is used for taking part in the platform governance and transactions. It has a total market capitalization of $651,435,474.
7. Chiliz (CHZ):
Chiliz is a blockchain platform. With Chiliz, through a digital experience, sports, and entertainment bodies can tokenize their assets. It has a native token called CHZ, it is the utility token used within the Chiliz ecosystem to facilitate fan engagement, voting right, etc. The market capitalization of $CHZ is $568,567,009
8. Bloktopia (BLOK):
Bloktopia is a blockchain project built on a polygon ecosystem, it is a decentralized project. Bloktopia has a native token called BLOK. On Bloktopia, users can earn BLOK by owning virtual real estate, building a network, playing games, etc. Based on a dedicated NFT mechanism, sponsors and advertisers can monetize Bloktopia. It has a total market capitalization of $340,538,532
9. Enjin Coin (ENJ):
Enjin is a blockchain project built on the Ethereum platform which is used to carry out different activities in the Enjin ecosystem such as; Enjin gaming activities, marketplace, and Enjin wallet. Across other virtual worlds and multiple games, Enjin coin allows players to create, own, and trade virtual assets. The market capitalization of Enjin Coin is $321.21MILLION.
10. Highstreet (HIGH):
Highstreet has a native token called HIGH. Highstreet uses virtual reality (VR) and a platform that uses a play-to-earn model. Being a governance token, users can use HIGH to vote on making platform decisions significantly. HIGH as a metaverse project aims to secure, an effortless and entertaining way of shopping online by pioneering a new way of little therapy. It has a total market capitalization of about $116,961,290
For creators, developers, and users, the metaverse represents a new frontier in digital experiences that offers endless possibility. Cryptocurrencies and tokens play an essential duty in facilitating transactions, ownership, and governance within this virtual reality as the metaverse continues to gain potential.
The significance and potential in this upcoming industry are depicted by listing and discussing the top 10 metaverse tokens by market capitalization in this content.