Forget about cryptocurrency The metaverse is now here, and it’s also the future of Decentralized Finance (DeFi).
It could be an exaggeration since the reality is that crypto currencies still play an important role contribute to the world of metaphysics.
Although cryptocurrencies may be used for a variety of reasons however, the metaverse is seen as the next stage in the evolution of internet. With cryptocurrency becoming more and more common there is a good chance that cryptos will either adapt to the new technology or be discarded in favor of the metaverse’s tokens.
If you’re planning to dive in the world of metaphysical, why don’t you take a look at our selection of the top crypto currencies to use in the metaverse.
Ethereum – ETH
The second most well-known cryptocurrency following Bitcoin, Ethereum, is the primary driver behind the majority of blockchain-related innovations that we are seeing today. It is often referred to as the the thinking man’scrypto, Ethereum smart contracts as well as decentralized apps are may be possible.
However, all that is in contrast the concept of NFTs which are also known as non-fungible tokens, which allow us to tokenize exclusive digital assets. From music to art and everything in between NFTs have required us to reconsider the notion that digital assets are owned by us.
Because the Ethereum blockchain is the base of the majority of metaverse games and coins It’s among the top crypto coins to carry around while exploring the metaverse. The majority of metaverse-related games and platforms have support for Ethereum which means that you don’t need to worry about using the native Ethereum tokens.
Decentraland – MANA
MANA is the currency that is used in the game of metaverse; Decentraland. Based using Ethereum, the Ethereum blockchain MANA now has most capitalization in the market, compared to Metaverse-related tokens. With MANA players can buy NFTs from Decentraland that are available in the form of LAND (virtual property) as well as custom-made apparel and accessories for in-game avatars.
Real real estate speculation in games like Decentraland has increased to the point that areas of land could be worth as much than a home. The engine behind all of these transactions is MANA the game’s primary currency.
In the wake of this, the interest in metaverse tokens such as MANA has increased substantially, with major cryptocurrency exchanges like Binance and Coinbase including the token on their websites. Many analysts believe that these tokens are the next big thing in crypto.
Axie Infinity Shards AXS
Axie Infinity Shards can be a popular metaverse token available on the market. Also called AXS the tokens serve as the main medium for exchange within Axie Infinity which is an action-adventure, PVP/PVE-based game.
Players earn AXS when they play the game. Players can then make use of these tokens to buy NFTs in the marketplace. AXS tokens became well-known recently since they’re an integral part of the “Play-to Earn” model, which is a model where players earn money by playing games.
The prices of AXS have been reported to fluctuate dramatically due to the popularity of the game and booming economy. NFTs minted in the Axie Infinity have been known to reach six-figure valuations and some players relying on the game for earnings.
Some Thoughts
It is evident that the metaverse and crypto currencies are expected to become the next move for a technologically-savvy society. But, there are numerous issues with the use of the currency that is completely non-regulated and not centralized.
Beyond the normal security issues There’s also the issue of volatility. Since prices can shift in a whimsy without notice It takes a savvy investor to navigate these turbulent waters.
If you’re planning to play around with the metaverse, you’re wise to conduct your own research and exercise with extreme caution.
