The Metaverse has been a hot topic of discussion lately. Firstly, the recent move by Microsoft to acquire Activision Blizzard for a whopping $69 billion is a step towards expanding into the Metaverse. Secondly, Mark Zuckerberg’s rebrand of his social networking company to Meta is also a nod towards the Metaverse. Finally, other companies such as Google and Apple are working on Metaverse-related technology too. However, what does the Metaverse really mean? How do metaverse and crypto relate and what are metaverse crypto projects? Here’s everything you need to know along with the guide on where to buy metaverse crypto.
Metaverse combines two different words: meta and universe. At its simplest form, the term Metaverse refers to a future version of the internet that’s hailed as Web 3.0. Matthew Ball, author and venture capitalist with vast knowledge on the topic, defines it as an “expansive network of real-time rendered 3D worlds and simulations, experienced synchronously by an unlimited number of users, each with an individual sense of presence”.
Some of the most outstanding features of the Metaverse include:
- Digital Avatars: One of the most important aspects of the Metaverse is digital avatars. Digital avatars are customizable, digital versions of ourselves, capable of interacting & expressing our emotions & feelings in an unconventional way.
- Hardware: Every single time a person mentions the Metaverse, we always picture Virtual Reality headsets. However, virtual reality headsets are just a means to enter the Metaverse. Hence, there are so many other technologies such as tablets, smartphones, and PCs that can give us access to the Metaverse as well.
- Infrastructure: The Metaverse will have an unlimited amount of interconnected virtual worlds just like how the internet has an unlimited amount of websites interconnected in it. Therefore, there will be a need for infrastructure that can allow seamless movement from one Metaverse space to another.
- Experience: The Metaverse will bring all the scattered experiences of Zoom or Discord calls and converge them into one holistic experience. For instance, in the education sector, students will be able to join virtual rooms and collaborate remotely. Moreover, teachers would navigate students through numerous field trips with the click of a button.
Our definition of Metaverse alluded to the fact that there are different kinds of mini-Metaverse worlds that all combine to create the universal Metaverse. Therefore, every mini-metaverse has its own set of coins that they utilize to pay for everything. Current Metaverse worlds enable us to shop & buy just about anything, including digital land. These virtual goods are bought using Metverse coins or crypto native to the respective Metaverse you are investing in.
Much of the hype & excitement around the Metaverse comes from technology and social media companies. The majority of these companies, such as Meta & Microsoft, are pouring giant resources into the sector. Online games are also embracing the idea of the Metaverse as well, offering players the ability to interact virtually, using customizable avatars.
Additionally, the Covid-19 pandemic, along with the desire by people to connect more online & remotely, has accelerated interest in the Metaverse. Hence, there’s no doubt that the Metaverse has immense potential to revolutionize lifestyles, providing access to virtual environments. Now, which company comes up with the best Metaverse content or software? Only time will tell.
Presently, there are numerous Metaverse crypto projects already in motion. Each of these projects shows remarkable potential, proposing unique concepts & even real-world applications. Some of these projects include:
Founded in 2017, Decentraland is a virtual reality world that you can visit via your website browser & buy parcels of land. You can also manage these parcels of land like real estate and build anything you want on them. Moreover, investors can purchase these virtual plots for a price.
MANA coin is the platform’s native token that fuels the ecosystem. It has a supply of 2.2 billion. Presently, there are over 1.83 billion tokens in circulation. Currently, one MANA is priced at $2.67 with a total market cap of over $5 billion.
Axie Infinity is a wildly popular play-to-earn game considered the highest revenue-generating game on the planet. Users can collect AXS tokens just by playing the game. The game has been a success so much so that people have allegedly quit their jobs to pursue the “play-to-earn” lifestyle.
AXS coin is Axie Infinity’s native token. Through it, users can breed, sell, buy, trade, and even battle other NFT monsters. Additionally, the AXS coin can be converted to ETH to purchase NFTs on the Axie Marketplace. AXS is currently priced at around $50.17 with a global market cap of over $3 billion according to CoinMarketCap.
Enjin is an online platform that lets users create and manage NFTs. The platform integrated a number of Metaverse projects such as Axie Infinity. Players in Metaverse games are able to use their items across multiple games. The platform’s native crypto is the Enjin coin.
The Enjin coin is an ERC-20 token designed to be an in-game currency for purchasing or selling game items. Additionally, the ENJ coin can be used to create in-game items such as medicine or weapons through a process known as “minting.” Currently, the price of ENJ stands at $1.44 with a market capitalization of $1.2 billion, according to CoinMarketCap.
Although fairly new to the market, Bloktopia is a popular Metaverse crypto project that has received funding from several top investors in the gaming industry. The platform provides a mind-blowing visual experience in VR using state-of-the-art 3D creation engines. Additionally, it is backed by the Polygon network.
The BLOK token is the platform’s native cryptocurrency that fuels the ecosystem. Users earn BLOK through staking and reward programs. It’s also what users use to purchase NFT real estate, property, & advertisement space on the platform. Users can also use BLOK to purchase avatars or vote in Bloktopia’s governance.
NetvrK is a blockchain-based project that aims to offer a unique VR ecosystem where users can both create and explore VR worlds. Users on the platform don’t require vast VR knowledge to create VR worlds. NetvrK has already provided a plethora of spatial VR structures, universes, and encounters that users can take advantage of.
NTVRK coin is the platform’s native token. Users can stake NTVRK tokens to earn rewards for securing the network. They can also generate NFTs to trade on a P2P basis. Moreover, with NTVRK coins, users can purchase property, land, and advertising space on the platform.
Although Metaverse cryptos are used to make transactions within the Metaverses they exist in, they are also available on crypto exchange platforms. All you have to do to buy Metavers crypto is to simply find Swapzone on your web browser and follow the steps below:
- On the homepage, look for the “select pair” tab. In the “send” section, select the kind of crypto that you want to send in exchange for a Metaverse coin. Make sure that you specify the amount as well.
- In the “get up to” section, select the kind of Metaverse crypto you wish to receive.
- Swapzone will automatically present you with a number of different exchange rate offers from several of their partners. You will notice that there is an option to filter out the results. Take your time and make the right choice.
- Once you find an offer that you want, simply click on it and hit “exchange”. This will trigger a new window to open asking you to fill out a few details such as your email address and a wallet in case of refunds.
- Once you’re done filling in this information, simply hit “proceed to exchange” to start the transaction.
- The Swapzone partner you selected will receive the transaction alert and begin to swap the cryptocurrencies for you. There might be a slight delay. This is normal. Be patient as the transaction finalizes.
- Once finalized, you will receive your Metaverse crypto into your wallet address. At this point, take a moment to rate the exchange partner. That’s it!