TL;DR Breakdown
- Metaverse tokens are gaining traction following growing interest in the metaverse project.
- Most tokens rallied up following Facebook’s announcement of interest in the metaverse.
- MANA, AXS, SAND, and ENJ among top tokens.
Metaverse tokens are gaining quite the attention of enthusiasts and critics alike. The metaverse seems to be everyone’s focus right now, and metaverse-related cryptocurrencies hold some serious potential.
Just recently, Facebook changed its name to Meta after expressing its interest in the metaverse. Since then, meta coins have been on the rise. Here, we round up the top four tokens that you should keep an eye out for.
| Token | Total Supply | Circulating Supply | ATH | ATL | Market Cap |
| MANA | 2.89 bn | 1.8 bn | $4.69 | $0.007883 | $7.6 bn |
| SANDBOX | 3 bn | 892 M | $5.46 | $0.02894 | $4.7 bn |
| AXS | 270 M | 60.9 M | $165.37 | $0.1234 | $7.9 bn |
| ENJ | 1 bn | 835 M | $4.00 | $0.01562 | $3.1 bn |
Decentraland (MANA)
Decentraland is one of the earliest metaverse projects, founded in 2017 by Ariel Meilich and Esteban Ordano. The project is built on the Ethereum blockchain and has the MANA as its native token. MANA holders get to buy and own land parcels in Decentraland, which they can develop as they wish.
Since Decentraland runs through a DAO system, all 139,929 MANA holders have a say in the project’s governance.
MANA has had quite the rally over the last few days. At the time of writing, the token’s price was up 8.37% over 24 hours to trade at $4.10 on CoinMarketCap. MANA reached its all-time high of $4.69 soon after Mark Zuckerberg announced Facebook’s plans for the metaverse.
SandBox (SAND)
The SandBox is quite similar to Decentraland in that users also get to buy and sell pieces of virtual land. It is a play-to-earn platform that allows users to build their own games besides owning and developing property. Sandbox combines DAO and NFTs to build a thriving virtual reality for gamers.
SAND is the project’s native token and also runs on the Ethereum blockchain. It is also a community-driven project.
Like MANA, SAND gained quite some traction following Facebook’s rebranding. It is currently trading at $5.34 and is up 36.31% in 24 hours. SAND currently has over 150,000 holders and is listed on several exchanges, including Binance, OKEx, CoinTiger, FTX, and Mandala Exchange.
Axie Infinity (AXS)
Axie Infinity is currently the top metaverse token by market cap at $8.58 billion. The NFT-based crypto game was launched in 2018 and also employs a play-to-earn model. Players get to own virtual land in the metaverse and trade Axies, NFTs based on Pokemon.
AXS is one of the project’s native tokens, giving holders stakes in the game’s ownership and governance. Like most metaverse tokens, it is built on the Ethereum blockchain. AXS holders can trade their tokens for other cryptos on Binance, Huobi Global, Madala Exchange, OKEx, and FTX.
Enjin (ENJ)
The Enjin platform is powered by Ethereum and allows users to mint and trade virtual goods through both on-chain and off-chain processes. It is an online gaming community that relies on smart contracts to lock ENJ tokens whenever developers assign a value to the virtual goods in the metaverse.
Enjin was launched on Ethereum in June 2018. Every ENJ token is minted on the company’s blockchain asset development platform. ENJ is currently trading at $3.64 on CoinMarketcap, following a 9.53% price increase in the last 24 hours. It is listed on several exchanges, such as CoinTiger, OKEx, Binance, Mandala Exchange, and FTX.
Conclusion
The metaverse is an ambitious project that aims to change the way people interact with others through the internet. Metaverse tokens are crucial to ensure the functioning of these virtual realities, and there’s no denying that these tokens hold so much potential. Thus, crypto enthusiasts should watch out for these tokens as they just might skyrocket.
