You might have been hearing a lot about Metaverse lately. It’s essentially a blockchain-based virtual world that you can access with virtual reality glasses. In metaverse, your creativity is the limit and you will live, play and interact with others. Well, a virtual world also requires a currency, and the currency used in Metaverse is dubbed as Metaverse coins which include NFTs and other cryptos. So in this article, we will take you through the best Metaverse coins you can buy in India in 2022.
Related article | Top 3 Ways to Buy and Sell NFT in India
Disclaimer: This article is intended for educational purposes only. These coins are listed according to industry trends, and other factors. Their value and position in the market are susceptible to change. Please do your research and background check before investing.
5 Best Metaverse coins to buy
Different Metaverse has their own cryptocurrencies and tokens. We will talk about 5 of the best Metaverse coins briefly. Helping you learn about each option, their differences so you can make an ideal investment choice.
These Metaverse coins are in no particular order. You can purchase these coins from any major crypto exchange easily and make them a part of your portfolio.
Decentraland is a platform that allows you to buy, sell or create your own virtual space called Land. You can explore this Land with your PC, phone, or VR (Virtual Reality) Headset. MANA is the currency of Decentraland. It is one of the leading and widely available crypto on this list available on many crypto exchanges making it accessible to new users.
When Facebook announced their name change to Meta, MANA spiked 400% which actually sparked a lot of interest in it and metaverse as a whole and its current market cap is 9 billion Dollars.
Its drawback is that it is based on the Ethereum blockchain. That means it is secure but users have to pay a high gas fee, and the content is also limited. It has an active support team that is working on it and it hosts many events as well. Plus MANA has many uses outside of Decentraland as well making it a lucrative option.
Axie Infinity (AXS)
Axie Infinity is a game that works similar to Pokemon. Here players can own, trade and battle creatures called Axies and these creatures are NFTs so they can be sold outside of the game. Players can also build kingdoms, treasure hunt, and look for resources. It has the highest and most engaging player base.
The currency of this game is AXS and players can earn this currency doing several activities in the game. AXS is based on the Ethereum blockchain so there is a high gas fee and although the game is available for smartphones, Windows, and Mac. It is not free to play and players require 3 AXS to participate. Its market cap is over 8 Billion Dollars.
Sandbox is a virtual world with a play-to-earn model similar to Axie Infinity. That means you can do various activities in order to earn SAND. This is the currency of Sandbox. Users can create their own games, play other games, own virtual land, and assets. It has a powerful editor that allows you to transform and create things using SAND.
Sandbox is backed by Softbank and has a market cap of 6 Billion Dollars. Sandbox is also based on Ethereum blockchain similar to MANA which results in high gas fees. This is a drawback of any metaverse based on the Ethereum blockchain.
Enjin Coin (ENJ)
Enjin is a network that lets users create, manage and sell their own NFT. The currency of Enjin is the ENJ. Users can use it to create NFT and assign a value to it after which they can sell it and receive ENJ in return. Enjin offers their own crypto wallet which allows users to store ENJ and NFT and then take it to other Metaverses.
Enjin network offers a marketplace that lets users sell their NFTs to websites and applications. ENJ is based on Ethreum but their wallet is not open-sourced. ENJ isn’t backed up by any commodity or assets. It has a market cap of 3 Billion Dollars.
Illuvium is an open-world role-playing game also called RPG. It has a great environment, landscapes, and quests. Similar to Axie Infinity, you can collect creatures called Illuvials which can be sold, upgraded, or stored in your wallet. These Illuvials, their skins, and other collectibles are NFTs that can be traded on IlluvDEX exchange or other exchanges.
The currency of Illuvium is ILV although players don’t need it to play the game. They can earn it by completing quests and activities and also use them to purchase Illuvial. ILV is based on the Ethereum blockchain. This results in high gas fees. This game is set to be released in 2022 and there is a lot of hype around it speculating a rise in ILV when the game launches.
There are some other great Metaverses you can invest in. We will list the coins that we could not cover in this article as they are also good options and have shown promising results and you should be looking out for them.
- Star Atlas (ATLAS)
- Theta (THETA)
- Flow (FLOW)
- Gala (GALA)
- Render Token (RNDR)
- Alien Worlds (TLM)
Now we have reached the end of this article. We hope we helped you get a clearer picture and a good understanding of the 5 best Metaverse coins to buy in India. There are still plenty of tokens and coins that you should be looking out for and it’s always better to do a little bit of research before investing.
Facebook recently changed their name to Meta and they are leading the progress of bringing the Metaverse to reality along with other huge brands but no one owns the Metaverse as it is similar to the internet. Even some call it the next evolution of the internet.
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