Czarina Grace Tech 12.10.2021 23:Dec PM EST

Metaverse Crypto: Axie Infinity, Sandbox and 5 Other Tokens You Should Have Before Entering the Metaverse

Do you want to enter the metaverse? You must first set up a digital wallet to join in the hype. There are also seven awesome metaverse crypto tokens that can help you get started in the digital industry.

Nowadays, the term "metaverse" is quick to pop up on any section of the internet. This is an emerging virtual world that features unique digital assets for interested investors. In the metaverse, you can buy designer clothes, collect digital tokens, and even set up a virtual house next to Snoop Dogg!

However, as previously mentioned, you must first familiarize yourself with the metaverse platform.

Metaverse Crypto: How to Get Started

According to Fortune, there are many metaverse platforms like Sandbox or Decentraland. You should research these websites on which best serve your interests and set up a crypto wallet. For reference, a crypto wallet lets you exchange fiat currency (like US dollars) for metaverse tokens. Note that there will usually be a conversion fee.

You could only use metaverse cryptocurrency to buy digital assets. Fortunately, platforms like Binance, Gemini and Coinbase can help you in the conversion process. However, be warned that the value of cryptocurrencies is highly volatile. Because of its lower liquidity and lack of regulation, major selloffs can happen at any moment.

Best Metaverse Tokens You Can Buy

Experts from Market Insider listed some of the best metaverse tokens you can choose from. Notably, all the tokens listed below have a market value of over $1 billion.

7. Decentraland (MANA)

This cryptocurrency features a virtual world where users can buy, own and interact with parcels of land. It also sells avatars and "wearables" like clothing and accessories. Decentraland is a decentralized autonomous organization (DAO), so it also features events like NFT auctions. Decentraland has a market cap of $6.8 billion

6. Harmony (ONE)

Harmony is an open and fast blockchain that features 2-second transaction speeds and 1,000 times lower fees. It also offers secure bridges for cross-chain asset transfers on Ethereum and Binance. Harmony has a market cap of $2.2 billion.

5. Solana (SOL)

Solana is a cryptocurrency industry that many experts can attest to. It currently hosts more than 500 different projects on its platform, including NFTs and DeFi apps. It also processes transactions at high speeds, over 50,000 transactions per second (TPS). Solana has a market cap of $58.2 billion.

4. Polygon (MATIC)

Polygon is a system that aims to overcome Ethereum's underlying problems by adding an extra processing layer on top of the existing blockchain. It is known as a "layer 2 solutions aggregator," as iTechPost previously highlighted. Polygon has a market cap of $16.3 billion.

3. The Sandbox (SAND)

This is a crypto coin used on the metaverse platform "The Sandbox." It essentially has the same function as MANA, but it specializes in pay-to-play games. SAND could exchange coins on Binance, Huobi, WazirX and UPbit. Sand has a market cap of $4.9 billion.

2. Axie Infinity (AXS)

Arguably, Axie Infinity is the most popular cryptocurrency for the gaming platform. It is also a token used as in-game currency to purchase unique NFT pets and breed them. Tokens are earned on this platform by gaming or battling with other Axies. Axie Infinity has a market cap of $6.8 billion.

1. Ethereum (ETH)

Out of all the cryptocurrency suggestions, the best metaverse token is arguably the original. Aside from sharing most of the features on the previously mentioned cryptocurrencies, ETH could also be used on almost all crypto exchanges. It is also not specific to one metaverse world, making it usable across platforms. Ethereum has a market cap of over $473.02 billion at the time of writing, per Coin Desk.

Related Article: Ethereum Price Prediction: Expert Sees Big Surge for Ether Amid 'Undervalued' Status