Metaverse cryptographic projects have gained popularity in recent years because they allow users to enjoy immersive experiences in digital environments. Cryptographic metaverse projects ranging from decentralized digital worlds to tokenized assets disrupt the dynamics between programmers and users in the virtual world. Just before January, Finbold conducted an in-depth analysis of five of the most prominent metaverse-related cryptocurrencies now available, ranked by their market cap on CoinMarketCap.
ApeCoin (APE) ranks 30th with its market value of $1.296 billion. APE is trading at $3.59 at press time and is up 2% over the past seven days. On December 22, ApeCoin was also included in the top 10 list of most purchased assets among the giant whales on Ethereum.
— WhaleStats (tracking crypto whales) (@WhaleStats) December 22, 2022
Remarkably, ApeCoin launched its much-anticipated staking program in early December. It has over 57.5 million APE staked worth $247 million. In March, the holders of the two significant non-fungible token collections (NFT) of the Web3 collective – the Bored Ape Yacht Club and the Mutant Ape Yacht Club – were scrapped on the token serving as the native currency of the Yuga Labs environment APE reached peaked at nearly $22 per token during trading in the days leading up to Yuga Labs land auction in the Otherside metaverse in April.
Internet Computer (ICP)
Internet Computer (ICP) is another Metaverse token in the top 40 by market cap; ICP ranks second on the list of Metaverse projects by market value. Many long-term performance initiatives are still actively being developed. The same is true for ICP, with most, if not all, of this research aimed at recreating the Internet with Web3. Internet Computer is a blockchain on which you can build web and decentralized applications; After receiving a lot of publicity during the launch, many developers prepared to build dApps on it. The ICP token is currently trading at $3.88 is the internet computer blockchain’s leading utility and governance token, with many use cases within the IC blockchain.
Theta Network (THETA)
Theta Network (THETA) is one of the most well-known cryptocurrency projects that is now investigating the problems created by the metaverse. It is a blockchain network specially designed for streaming videos. Theta Network strives to provide customer-centric services such as education, esports, and movies at reduced costs, better content, and a fairer business structure, with the specific intention of transforming the streaming video industry. Theta Network is also perfect for use in the metaverse because it supports VR worlds, video APIs, and video metaverse. As it stands, THETA currently trades at $0.7,622, with a combined market value of $762 million.
Axie Infinity (AXIE)
Axie Infinity is one of the most well-known NFT Metaverse games, attracting over a million active players at the peak of its popularity in 2021. It is a player-versus-player (PvP) game produced in 2018 by Vietnamese tech-oriented games company Sky Mavis. The in-game tokens are called Axie Infinity Shards (AXS) and are mainly used for governance and participation. AXS owners can buy, sell, and trade the asset and participate in weekly rewards that contribute to the owner’s total income.
AXS is currently changing hands at $6.80 and ranks 50th with its market cap of $680 million.
The Sandbox (SAND)
Finally, The Sandbox (SAND) Blockchain is another play-to-win crypto game designed in a metaverse style. As a metaverse, The Sandbox is built on the Ethereum blockchain, the leading platform for smart contracts. Players can purchase virtual property, which can then be used to create, manage, or monetize gaming experiences. Sandbox is a platform that gives users the ability to develop their games, interact with games made by other users, and win. Rewards in the form of tokens. Additionally, Sandbox has a vibrant NFT marketplace where users can buy tools, NFTs, and even LAND to create their games.
This project’s white paper states that only 166,464 individual pieces of LAND are now held as NFTs. Finally, the SAND token is trading at $0.44 with a market value of $661 million at press time.