Right now, the metaverse is rapidly changing the way we think about traditional businesses and products - and cryptocurrency is at the heart of it. So, today we're going to take a look at some of the best cryptocurrencies to buy for the metaverse.
But what is the metaverse? For those not familiar, here's the gist: The metaverse aims to be a digital universe. It's an online environment where people live, work, and play. And it stands to be one of the biggest innovations in digital technology since the internet.
According to Bank of America, the global metaverse market could grow to between $390 billion and $800 billion by the mid-2020s.
The best part of all this is that we're only just beginning to unlock the metaverse's full potential. And Alternative Asset Specialist Nick Black believes that now is as good a time as any to get started when it comes to investing within this space.
Without further ado, let's dive into the three best cryptos to buy for the metaverse.
Best Crypto for the Metaverse, No. 3: Enjin (ENJ)
Nowadays, Enjin (ENJ) makes it easier than ever to invest in the metaverse. And with new projects and partnerships constantly in the works, this platform will be a force to reckon with - particularly in the realm of virtual real estate - for years to come.
While Enjin doesn't have a metaverse of its own yet, the platform's focus is on NFTs - the building blocks of the metaverse. It allows people to create, store, and trade NFTs all in one place. And this has many uses.
Take, for example, gamers. They could transfer assets from one game within the metaverse to another. Meanwhile, musicians or artists could monetize their creations.
A lot of NFTs currently use the Ethereum (ETH) blockchain, which struggles with high fees - costing up to $100 just to make one transaction. That's a huge downer for those who don't have the expendable money.
Ethereum's high fees have pushed newcomers to have lower fees, and Enjin is developing its own NFT-focused blockchain called Efinity (EFI) with just that.
This could be a huge game-changer for Enjin and could boost the crypto higher over the next few years.
Best Crypto for the Metaverse, No. 2: Decentraland (MANA)
Decentraland (MANA) aims to create an immersive virtual world on the blockchain. But what's most exciting about this crypto is that you don't need to connect your crypto wallet or open an account to access the metaverse.
That makes Decentraland one of the best places to start if you're at all interested in exploring these digital universes.
As it stands now, virtual reality is the new frontier of gaming. Meta Platforms has shifted toward developing content for its Oculus VR headset, but it can cost at least $300 just to get involved.
With Decentraland, you get exposure to the world of VR without the need for a headset or set crypto. And if you're interested, the platform offers the chance to own and develop a parcel of virtual real estate that you can then turn into a maze or casino.
Aside from developmental opportunities, Decentraland also hosted the first-ever multi-day virtual music festival last year that included more than 80 artists from around the world. Some of the heavy hitters to attend were Paris Hilton and Deadmau5.
Decentraland did well last year, moving up from less than a dollar to almost $5.50. While the token has lost some momentum since then, it should recover lost ground - and then some. Even early on in its inception, MANA remains one of the best metaverse cryptos around.
Best Crypto for the Metaverse, No. 1: Sandbox (SAND)
Sandbox (SAND) is a metaverse crypto that entered the limelight after skyrocketing 14,530% throughout 2021 - making it one of the top-performing cryptos of the year.
So, how did Sandbox manage such impressive gains?
Well, after four years in development, Sandbox was opened to the metaverse with an exclusive Alpha pass. This pass allowed 5,000 individuals to partake in its multi-week play-to-earn event and given access to the Sandbox metaverse.
If you weren't able to buy or win yourself an Alpha pass back then, you could explore a small section of the digital world and access the Alpha HUB, as well as three experiences.
Then at the start of November 2021, Sandbox and SoftBank raised $93 million to help the platform grow as a premier entertainment platform. And some big names in the business invested in the project, like Galaxy Interactive, Polygon Studios, and Kingsway Capital.
It also helps that Sandbox has a number of high-profile brand partnerships. The platform works with people like Snoop Dogg, who developed his own virtual mansion in Sandbox, and The Walking Dead, which created an in-game experience.
With that kind of brand recognition, it's hard to believe that Sandbox isn't here to stay. When it comes to virtual real estate, Nick Black sees Sandbox as one platform that's on the forefront -along with Decentraland.
In fact, according to CoinPriceForecast.com, SAND is expected to hit $19 by the end of 2022, up by 380% from its current value. Over the next five years, SAND could move as high as $42.84 - gains of over 1,000%!
These Two Tiny Cryptos Are Set to Crush Bitcoin's Gains by 10X
Bitcoin might be the "buy-and-hold" asset of the decade, but it's not the end all, be all of crypto.
There are two tiny coins from a whole new class of cryptocurrencies, and they could very well crush Bitcoin's performance by 10X in the years ahead.
They're based on a technology that's light years ahead of Bitcoin.