What is the Metaverse and why is everyone talking about it lately? In short the meaning of Metaverse refers to a virtual reality (VR) world and ecosystem, a new digital universe that will combine virtual and physical reality.
The original Metaverse definition dates back to a 1992 science fiction novel, where it was a virtual world in which people used digital avatars to interact with each other. The corporation behind social media giant Facebook, now called ‘Meta’, envisions a network of real-time simulations in a 3D world, with applications in gaming, software, social network platforms, decentralized finance (DeFi), business and leisure.
Meta’s cryptocurrency project Libra (Diem) has been paused but the popularity of the Metaverse has seen many retail investors start to invest in Metaverse coins – so, what are the best Metaverse coins to buy now in 2024?
Best Metaverse Coins to Buy in November 2024
- The Sandbox – Best NFT Gaming Metaverse Cryptocurrency
- Ankr – Metaverse Cryptocurrency for Decentralized Cloud Computing Development
- Axie Infinity – An Entertaining Play-to-Earn Game Cryptocurrency
- Gala – High Potential Cryptocurrency for Decentralized Gaming Industry Development
- Decentraland – An Exciting Metaverse Cryptocurrency for a 3D Virtual World Ecosystem
- Enjin – Metaverse Cryptocurrency that Aims to Develop the NFT Gaming Industry
- Ethereum – Best Metaverse Blockchain Platform
- SushiSwap – Metaverse Decentralized Exchange to Swap Cryptos and NFTs
Top Metaverse Coins to Buy Now – Full List
Now that you know what metaverse coins are and where you can buy them, you may be curious about which Metaverse coins are the best to invest in and what they are created for. Here is a list of the best metaverse coins with a short introduction about their projects.
The Sandbox (SAND) – Best NFT Gaming Metaverse Cryptocurrency
The Sandbox is an Ethereum-based play-to-earn game that was developed by Animoca Brands. It’s an iOS and Android compatible mobile game where players can create and monetize non-fungible tokens in the form of various items. For example, users can create avatars, use them in the game, buy weapons and clothes for them, increase their value and later sell them.
The avatars can also become landowners within the game by purchasing a LAND. These LANDs can be enriched by several assets that they can buy from the Sandbox Marketplace and make their LANDs more valuable. They can later sell their LAND to earn rewards or rent to other avatars. They can even hold a meeting on their LAND and charge entrance fees to the participants.
The Sandbox also has a native cryptocurrency called SAND which is used to pay for the transaction fees within the ecosystem and earn rewards. The SAND token is also used as a governance token and allows its holders to vote on changes regarding the project. As an ERC-20 token SAND holders can also stake it to generate rewards.
The circulating supply of the SAND cryptocurrency is 3 billion SAND coins with more than 1 billion being in circulation at the time of writing. The current value of the cryptocurrency ($2.7) raises a market cap of more than $3 billion making it the 39th largest crypto asset by market cap among thousands of others.
Your capital is at risk.
Ankr – Metaverse Cryptocurrency for Decentralized Cloud Computing Development
ANKR is the native cryptocurrency of the Ankr project which was founded in 2017 by Chandler Song and Ryan Fang. The team behind the Ankr ecosystem has set two main goals – to assist in cloud computing development and make the proof-of-stake mechanism easier for the users. The project launched its Decentralized Cloud Computing Network which combines the unused capacity of the idle machines and provides decentralized cloud computing instead of a single provider.
There are significant differences between traditional cloud computing and decentralized cloud computing. The second one is not controlled by a single party which adds more security and gives you more control over your data. Plus, the transactions are verified faster and the costs for transaction fees are significantly decreased compared to the centralized services.
Another important feature that Ankr provides is making the staking mechanism much easier. So, there is a required amount of tokens to stake if you want to run a word and this number varies depending on the cryptocurrency. For example, to run an Ethereum node you need to stake at least 32 ETH tokens which can be unavailable for many users. Hence, Ankr makes it possible to stake fewer coins than required making the PoS more accessible.
The project is powered through the ANKR cryptocurrency which is an ERC-20 token and is used within the network to pay for transaction fees. The maximum supply of the ANKR cryptocurrency is 10 billion tokens and more than 8 billion coins are already circulating. The current market cap of the cryptocurrency is almost $600 million which ranks it #112 on the chart.
Your capital is at risk.
Axie Infinity – An Entertaining Play-to-Earn Game Cryptocurrency
Axie Infinity is an Ethereum-based online NFT game that was developed by a Vietnamese Sky Mavis company and launched in 2017. Within the game, players can own so-called Axies which are digital creatures based on the axolotl animals. Players can later develop their Axies, raise them, bleed, and battle with other Axies. They can also build their Axies Kingdom or sell their little creatures as NFTs on Sky Mavis marketplaces.
The Axie Infinity game has launched the AXS cryptocurrency to power the network. AXS is a governance token meaning its holders have the right to vote on the changes referring to the Axie Infinity. Apart from it, AXS can also be staked in the staking pools and help you generate rewards. AXS can be a good investment as Axie Infinity is one of the most popular play-to-earn games in the industry. According to ActivePlayer, it has more than 2.2 million active daily players and more than 2.6 million active monthly players in the last 30 days.
Your capital is at risk.
Gala – High Potential Cryptocurrency for Decentralized Gaming Industry Development
Gala Games is another popular metaverse project that provides a platform to create play-to-earn games. The project was created in 2019 and so far has attracted more than a million users. The Town Star is still the only popular game developed on the Gala platform but many other games are still in the development process.
Gala also has a native cryptocurrency – GALA coin which is used within the games created on this platform to buy and sell in-game items and to pay for the transactions. GALA can also be staked to earn rewards. The maximum supply of the Gala cryptocurrency is not available yet, but it has a circulating supply of almost 7 billion tokens and with its current price of $0.2 is ranked #66 by its market cap.
Your capital is at risk.
Decentraland – An Exciting Metaverse Cryptocurrency for a 3D Virtual World Ecosystem
Another fascinating Metaverse project to invest in is Decentraland which is a 3D virtual world where users can buy pieces of land as NFTs. The project was developed by two Argentinians and was launched in 2017. In the beginning, Decentraland introduced its Genesis City consisting of more than 90,000 parcels of land. And the parcels were traded at $20.
The parcels value increased through 2021 and 2022 when Facebook announced being rebranded into Meta. At that time, the parcels of lands within the Decentraland were even sold at $6000-$100,000. Eventually, Decentraland became so popular that even companies such as Adidas, Samsung, and Atari appeared on this metaverse world.
The native cryptocurrency of the Decentraland is MANA which can be used to buy LAND NFTs within the game, sell their plots of LAND and avatars, or purchase in-game items and services. MANA is also a governance token, so holders can take part in voting processes regarding the decisions about the project. The currency value of the MANA coin is $2.17 which makes it the 33rd largest cryptocurrency by market cap.
Your capital is at risk.
Enjin – Metaverse Cryptocurrency that Aims to Develop the NFT Gaming Industry
The Enjin cryptocurrency project was developed by Maxim Blagov and Witek Radovski in 2009 with the aim to develop the gaming industry. It was one of the few projects built before the prominence of cryptocurrencies and the project developers managed to attract almost 20 million users. Enjin conducted an initial coin offering in 2017 and raised more than $20 million which was used to build its new blockchain.
Enjin provides a platform where users can create in-game items and later use them within the games built on the Ethereum platform. Enjin also provides a marketplace where users can sell their digital assets easily and pay low fees. The native token of the ecosystem is ENJ which plays a vital role within the project as all the assets created on this platform are bought and sold in ENJ coins.
The current value of the ENJ token is $1.58 and it has a market capitalization of almost $1.4 billion which ranks it the 77th crypto asset on the charts. Enjin has a maximum supply of 1 billion tokens and already more than 800 million ENJ coins are in circulation. Apart from its services in the gaming community, Enjin also provides a decentralized software wallet where users can store several cryptocurrencies, including Bitcoin, Dogecoin, NFTs, etc.
Your capital is at risk.
Ethereum – Best Metaverse Blockchain Platform
Ethereum is the second-largest cryptocurrency project by its market cap and is considered one of the most successful projects in the Defi industry. It was developed by Canadian-Russian programmer Vitalik Buterin in 2013 and soon became among the most tradable assets in the cryptocurrency market.
Ethereum provides an open-source platform that can be used by developers to build decentralized apps and programs. This Defi product plays an exceptional role in the Metaverse coins lists as many of the mentioned metaverse coin projects are built using the Ethereum blockchain, including Gala, Decentraland, ANKR token, and several others.
The native cryptocurrency of Ethereum is ETH which is traded at $3000 and has a market cap of $368 million. ETH coin is versatile and can be used to pay gas fees for running smart contracts within the Ethereum ecosystem. It is also a tradable asset listed on several major cryptocurrency exchanges. ETH can also be swapped with several cryptocurrencies and as it works on the Proof of Stake mechanism you can also stake your ETH coins to generate rewards.
Your capital is at risk.
SushiSwap – Metaverse Decentralized Exchange to Swap Cryptos and NFTs
SushiSwap is another Ethereum-based cryptocurrency project that was created in 2020 by a group or an individual under the pseudonym Chef Nomi. It introduces a decentralized exchange where users can buy and sell their cryptocurrencies. Like Uniswap and Balancer, SushiSwap uses the mechanism of the pool where several users lock up their crypto assets, and then these assets are used on the platform for buying and selling.
The users of the SushiSwap platform who buy and sell assets on the exchange pay transaction fees and these fees are used to reward those who lock their assets in the pool. The native cryptocurrency of the project is Sushi which is a governance token and is used in the Sushi Swap DEX. SUSHI holders can also stake it and generate profits. The current circulating supply of SUSHI is 127 million Sushi coins and it has a market cap of almost $404 million.
Your capital is at risk.
What are Metaverse Coins?
The word Metaverse has gone viral in the last couple of years, but the origin of the word goes back to the late 20th century. It was coined by a popular sci-fi writer Neal Stephenson who first used it in 1992 in his novel called “Snow Crash”. Stephenson used the word to describe a virtual place that is inhabited by 3D avatars created by people and where they can merchandise real estate.
The word has not changed its meaning too much in today’s world. In fact, it’s a combination of two different words – meta and universe. The first one is a Greek word and comes to describe what is beyond reality. So, together they form a “metaverse” which symbolizes a virtual world inhabited by 3D avatars and objects that can also form social connections.
In short, it’s a virtual reality where people can visit in the form of their avatars and do whatever they do in their real-life – shop, play, work, get in touch with other people, etc. Video games with their in-game-built objects and characters are one example of how metaverse can be. Meanwhile, the development of cryptocurrencies and NFTs has brought more excitement to this phenomenon, and many crypto projects managed to create their own virtual realities.
There are multiple Defi gaming platforms, including Decentraland, Sandbox, Axie Infinity, and others, where people can create their avatars, play, generate wealth and also monetize it by selling to others. These decentralized projects also issue their native cryptocurrencies that power the gaming ecosystem and can be used within the project to buy and sell items. For example, SAND is the main utility token of the Sandbox platform which can be used to create ASSETS and sell them as NFTs or buy a LAND and rent to others or increase their value and sell to get rewards.
Another example is Ethereum which is the most popular and largest Metaverse project by its market cap. It’s a blockchain platform that enables several developers to build decentralized apps on its platform and most of the Metaverse coins projects are built on Ethereum’s blockchain, including Enjin, Decentraland, Sandbox, Ankr, Gala, and lots of others.
How we Reviewed the Best Metaverse Coins to Invest in
The cryptocurrency market is highly attractive and there are more and more new metaverse coins springing up in the industry. With hundreds of options, it definitely becomes a daunting task to find the best metaverse coins to invest in. To recommend the best metaverse coins that can bring you good returns we consider several factors.
One of the most important factors to pay attention to is the popularity of a certain coin. If the cryptocurrency goes viral, more and more people start investing in it. So, it creates a high demand which directly affects the price of the asset. Still, there is another crucial factor to consider here – its usability. If the coin is backed by a strong team and is built to serve a project which introduces innovation and problem-solving mechanisms in the industry, it’s more likely to become valuable in the future.
So, after exploring several Defi metaverse coins, we selected the ones that stand out with creative ideas and projects, versatile usability, and strong security features. These crypto-assets are more likely to go mainstream in the industry as they are used within the ecosystems that bring innovations to the Defi ecosystem. So if more and more people step into these projects, they will buy these coins, which will consequently increase their value.
Best Exchange to Buy Metaverse Coins
To buy metaverse coins, in the first place you need to find a platform where you can make the purchases. Cryptocurrency exchanges and brokerage platforms are designed specifically for this purpose and offer a wide selection of assets to invest in or trade. However, the industry is filled with myriad brokers which makes it a hard process to choose the best one.
The problem is that there are several scammers along with the exceptional trading platforms, so you need to be attentive not to become the victim of these platforms and find a really trustworthy broker. Another thing to consider is whether the broker supports trading Metaverse coins you want to purchase and operates in your country. Based on our detailed research, we consider eToro among the best platforms to buy Metaverse coins due to its unique features and reliability.
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First and foremost, it’s a well-regulated platform empowered with a bunch of top-notch security systems that store your funds in cold storage and enable you to activate 2FA for an extra layer of security. Your privacy on eToro is secured under strong SSL encryption, plus the platform operates in accordance with the FCA (UK), ASIC (Australia), CySEC (Cyprus), and FINRA (US).
More than just the best place to buy cryptocurrency safely, this FCA-regulated crypto platform also is highly functional. It offers its newbie traders a combination of exciting tools to assist in more efficient trading. Smart Portfolios feature is one of such tools that help to buy Metaverse coins and balance your portfolio using their Metaverse Life portfolio allocation.
Though eToro is not designed specifically for crypto trading and supports several other asset types, it’s an excellent platform to build a diversified crypto portfolio. The broker supports 60+ of the most tradable and popular tokens and coins including all the best metaverse coins we introduced in our list above.
When it comes to the pricing system, eToro is an excellent option here. The broker does not charge any commissions for trading stocks and ETFs and takes only a 1% trading fee for crypto trading. The minimum deposit to start trading on eToro is $200, but still, there is an option to start trading on eToro with just $10 if you deposit funds through a bank card. The minimum trade for purchasing cryptocurrencies is $10 meaning that you can have a fully diversified Metaverse coin portfolio investing just $100.
The broker also stands out with its excellent user experience: creating an account on eToro is a quick and straightforward process, and it provides a simple-to-use and quick-to-operate user interface. eToro also provides various charts, a news platform, a social trading platform, and educational content.
In addition to eToro, you can find more exchanges offering Metaverse coins trading in our list below.
Are Metaverse Coins a Good Investment?
Before you step into the Metaverse coin trading, you need to understand if investing in these projects will be profitable for you in the future. There are multiple factors to consider as Metaverse coins have advantages and disadvantages that require a good understanding of them before putting money into them.
Starting with the disadvantages, we should mention the high volatility of the cryptocurrency market, including coins, tokens, NFTs, etc. This industry is quite new and requires a lot of time to be well-established, so investing in these projects involves high risks and you will always be ready to lose money. Still, these risks can be managed if you make fundamental and market analyses and make it clear what, how, and when you are investing.
But there are various other things that make us believe the metaverse projects can be highly beneficial and bring you good returns. First comes the growing market of the NFT industry, which attracts great interest and huge investments. Cryptocurrencies are also becoming more and more popular with multiple projects bringing problem-solving ideas into the market. Of course, there are also speculative assets that you need to avoid so as not to lose your capital.
Another point is the popularity of the Metaverse concept. Not only the cryptocurrency market, but several other industries are gradually transitioning into the metaverse. These virtual realities are great platforms for NFTs and cryptocurrencies to develop and be incorporated into our daily lives. Hence, we have several good reasons to invest in metaverse coins, but still, it requires a lot of research and analysis.
Where to Buy and Trade Metaverse coins?
To buy and trade metaverse coins you need to find a cryptocurrency exchange or a brokerage platform that supports the coin of your choice. Luckily, the best metaverse coins introduced in our recommendation list are supported by most of the cryptocurrency exchanges in the industry. On the other hand, this makes selecting a good platform quite a long process as these platforms differ in several functions.
Overall, we recommend using eToro which is a regulated and professional brokerage platform. Apart from various metaverse coins, you can trade several other assets with eToro, including stocks, forex, commodities, and indices with zero commissions.
eToro is highly beginner-friendly and provides an excellent user experience with its simple design and wide selection of trading tools. The broker also has a decentralized crypto wallet called Money where you can store, buy, sell and convert hundreds of tokens and coins.
Update 2024 – Going forward, the only cryptocurrencies eToro customers in the United States will be able to trade on the platform will be Bitcoin, Bitcoin Cash and Ethereum.
Binance is another excellent choice that supports more than 500 coins and NFTs. It’s the largest cryptocurrency exchange by its trading liquidity. Binance is perfectly designed for expert traders and provides a wide selection of advanced trading tools. The platform offers one of the most competitive trading fees in the industry which differ depending on the coin. Like eToro, Binance provides a software wallet known as Trust which you can use for storing your cryptocurrencies.
Crypto.com is another reputable cryptocurrency exchange where you can buy, trade, and stake more than 250 cryptocurrencies and NFTs. Founded in 2016 the platform has already attracted 10 million users worldwide and is available in 49 states in the US. Crypto.com stands out with highly competitive pricing structures which are even more cost-effective for high-volume traders.
How to Buy Metaverse Coins Step by Step with eToro
Now, when you’re familiar with the best metaverse coins, and the best platforms to invest in these metaverse coins, you may be interested in buying them. Here is a step-by-step guide that explains how to invest in metaverse coins with eToro.
Open an eToro Account
To begin with, you need to visit eToro’s website and create an account. In the registration window, fill out your email, and create a username and password. However, you need to provide more details to complete the registration process, including your name, surname, date of birth, etc.
When you finish with the registration you need to verify your account which is a mandatory step with eToro as it’s a regulated platform. There is a 4 step verification process, so you need to verify your account with an email, phone number, ID, and address. This is a very quick and straightforward process and you will get this done easily if you provide everything correctly.
Deposit Funds
Finally, when you have a verified account, you can deposit funds into your account. eToro supports multiple payment options, including bank cards, wire transfers, Skrill, Neteller, and PayPal. To fund your account, click on the “Deposit Funds” button and select the payment method available for you. eToro does not charge any deposit fees but it charges a small conversion fee for non-USD transactions.
Select a Metaverse Coin and Buy it
After having your account charged, you can decide what metaverse coin or coins you want to buy, search the coin in the appropriate toolbar, and click on the “Trade” button. A window will spring up where you should fill in the number of coins you want to invest in and complete the order, after which your coins will be immediately transferred to your exchange account.
Where to Trade Metaverse Coins?
Many of the best metaverse coins are incredibly volatile meaning that you can trade them efficiently and generate high returns. But to make your trades more effective, you need to select an excellent cryptocurrency broker. As the market is filled with hundreds of options, finding a good broker may be quite time-consuming. You need to check several factors before selecting a suitable platform, including security systems, trading fees, user interface, functionality, etc.
Another advantage of eToro is they have a ‘Metaverse Life’ Smart Portfolio which you can copytrade, a way to weight your portfolio towards both the best metaverse coins and the best metaverse stocks, i.e. in companies related to the metaverse, for example Roblox corporation.
You can also check out our list of the best VR crypto projects to buy now.
Conclusion
In a nutshell, the industry of metaverse coins is developing rapidly with more and more innovative projects appearing in the market. But the market is also filled with speculative assets that can go mainstream for a particular time and then crash after losing their value. It means that you need to explore the market and find the most trustworthy and prospective coins.
After carefully exploring the market we have made a list of the best metaverse coins to buy and profit from in the long term. We have also provided the best platforms to buy and trade metaverse coins and introduced a step-by-step guide with eToro on how to invest in metaverse coins.
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FAQs
What is a Metaverse coin in the crypto market?
A Defi Metaverse project is a virtual platform that combines cryptocurrencies, video games, and NFTs to build an ecosystem where users can buy several assets in the form of NFTs, upgrade them, and trade in the appropriate marketplaces.
What are the best Metaverse coins to buy right now?
Our detailed research indicates that the best Metaverse coins to invest in 2022 are Sandbox, Decentraland, Ankr, Axie Infinity, Gala, Sushiswap, Ethereum, and Enjin.
How can I buy Metaverse coins?
Metaverse coins are supported by multiple cryptocurrency exchanges, so to buy metaverse coins you need to create an account with your favorite brokerage platform, deposit funds, and start purchasing the coin.
What is the total market capitalization of Metaverse coins?
Ethereum’s ETH coin has the largest market capitalization among the metaverse coins ($360 billion). Other popular Metaverse coins include Decentraland’s MANA (more than $3.8 billion market cap), Sandbox’s SAND ($3.1 billion market cap), and Axie Infinity’s AXS ($2.8 billion market cap), etc.
