The cryptocurrency market has experienced significant growth since the beginning of 2023. Alongside this upward trend, metaverse coins have also seen noticeable fluctuations, resulting in increased trading activity and a surge in capital investment.
CoinmarketCap has compiled a list of ranking metaverse tokens based on market capitalization. This list serves as a concise representation of project value and potential for future expansion. The current top five leading metaverse tokens listed on CoinmarketCap are ApeCoin (APE), Internet Computer (ICP), Stacks (STX), Decentraland (MANA), and Theta Network (THETA).
Analyzing The Best Metaverse
Are you searching for the leading metaverse coins based on their market capitalization? If that’s the case, ApeCoin (APE) takes the lead in this realm with a whopping market capitalization of over $2 billion.
ApeCoin serves as the native token for the Otherside metaverse, an immersive digital realm that is still in its early stages of development.
ApeCoin serves as the currency required for acquiring virtual plots of land within the Otherside metaverse while also enabling investments in digital real estate.
Both ApeCoin and the Otherside are intriguingly being developed by Yuga Labs, the company responsible for the highly successful Bored Ape Yacht Club NFT collection.
Internet Computer (ICP)
Internet Computer’s ICP token, with a market capitalization of $1.50 billion, holds the 41st position among all cryptocurrencies on CoinMarketCap. This remarkable metaverse token ranks second in terms of performance.
It powers the innovative “World Computer” blockchain project, which allows the construction of diverse online systems and services without traditional IT requirements. The current market price for ICP is $5.03 at the time of writing.
Stacks’ native token, STX, holds the 42nd position among cryptocurrencies listed on CoinMarketCap. Moreover, it is recognized as the third-largest metaverse token based on market capitalization.
Currently, the market capitalization of STX stands at $1.31 billion, with a per-token price of $0.96, according to CoinMarketCap data at the time of writing. Stacks operate as a layer 2 protocol on the Bitcoin blockchain and facilitate smart contract development while enabling decentralized applications to utilize BTC in transaction settlement.
Decentraland (MANA) stands out as one of the most well-established metaverse crypto projects in this dynamic realm. Remarkably, the dedicated team behind Decentraland initiated their visionary metaverse venture back in 2015, tirelessly refining it until its official launch two years thereafter.
In the Decentraland metaverse, users have the opportunity to create their virtual avatar and connect with others through on-screen text. Additionally, they can explore numerous virtual worlds within Decentraland and even purchase virtual plots of land using MANA as payment. The market capitalization of Decentraland stands at just under $1.5 billion.
Theta Network (THETA)
Theta Network’s THETA token holds the 5th position among metaverse coins and ranks 51st overall on CoinmarketCap. Currently, THETA’s market capitalization amounts to $1.02 billion, with a trading value of $1.02 per coin. The primary goal of Theta Network is to develop a video streaming blockchain project that enables users to share bandwidth and computing resources in a peer-to-peer manner.
What is Metaverse?
The metaverse functions as a virtual 3D space online, linking users across different faces of life. It resembles a unified browser that encompasses multiple platforms. Originally introduced in Neal Stephenson’s “Snow Crash,” this concept is now on the brink of becoming a tangible reality.
The metaverse is anticipated to be driven by augmented reality, where users can control avatars for various activities such as work, leisure, and financial pursuits. While virtual games and social tools have elements that resemble the metaverse, its complete realization is still pending.
The metaverse, empowered by blockchain technology, is set to revolutionize economies and digital identity integration, among other domains.
Are Metaverse Crypto Projects Worth Investing in?
Continue reading to discover more about the investment thesis for the finest metaverse cryptocurrencies in 2023.
Unprecedented Upside Potential
MANA, the underlying token of Decentraland, witnessed an over 20,000% increase from its introduction in 2017 to its peak in 2021.
When MANA was initially launched, it entered the metaverse market as a small-cap project. Despite its tremendous potential for growth, MANA’s current valuation surpasses one billion dollars, making it unlikely to replicate the past returns on investment.
With that said, a small selection of other metaverse crypto coins is just beginning and has yet to list on a crypto exchange. This presents an opportunity for early investors to secure a super-low entry price and gain exposure to the project while it still has a small market capitalization.
Moreover, a recent study has revealed that the metaverse is predicted to permeate every aspect of our society and the global economy, with an estimated value of $5 trillion by 2030. This significant finding demonstrates the immense potential for its widespread impact.
Metaverse Concept Supported by Established Global Brands
Skeptics may argue that the metaverse is merely a passing trend; however, many of the world’s most prominent brands hold a different perspective on this matter.
In late 2021, Facebook underwent a rebranding and emerged as Meta Platforms, reflecting the social media giant’s strategic ambitions to establish dominance in the metaverse realm over the upcoming years.
In addition to Meta Platforms, other renowned brands like Google, Apple, Microsoft, Nvidia, and various others are actively investing in the metaverse. Notably, Adidas, Samsung, and Louis Vuitton have also made significant purchases of metaverse plots in The Sandbox and Decentraland.
Land and Real Estate Ownership
Many metaverse projects offer an enticing feature: the ability for investors to purchase virtual plots of land. An NFT on the blockchain represents each property, ensuring verifiable ownership.
Additionally, NFTs have the capability to be exchanged in open marketplaces. This signifies that owners of virtual metaverse land can sell their investments to another individual.
In the metaverse, demand and supply determine land prices, much like the traditional real estate market. As a result, certain plots within the Sandbox have reached astounding values of several figures.
A more affordable option for those interested in virtual land ownership is to purchase plots within an emerging metaverse project, such as Decentraland. As the metaverse is set to launch later this year, there will be ample opportunities to acquire and develop these plots. They presents the potential for generating income through property rentals or hosting ticketed events.
Earlier in this guide, we examined some of the top metaverse crypto coins. However, it’s important to note that there is a diverse range of other options available. CoinMarketCap reports that the metaverse token market now consists of over 240 tokens.
Investors have the opportunity to create a diverse portfolio by investing in various metaverse projects. Typically, these projects offer metaverse coins for just a few dollars.
A potential strategy emerges here: investing in metaverse coins from various niche markets. Take the Sandbox, a top option for acquiring metaverse real estate. On the other hand, LHINU presents an opportunity for participating in vote-to-earn rewards.
Bear Market Pricing
Despite a slight recovery, the cryptocurrency markets remain predominantly bearish. From an investment standpoint, there is potential for purchasing discounted quality metaverse crypto coins.
Tamadoge, Battle Infinity, Decentraland, and The Sandbox are currently trading below their all-time highs. This reflects a significant decline from the bullish trend they experienced in 2021.
In a bear market, top metaverse projects offer a chance to join at attractive prices, capitalizing on potential future growth. It also allows you to gain exposure to the market.
Several projects are currently engaged in their respective presales. By investing in any of these presales, investors can secure the lowest possible cost price.
Once the presale is complete, the corresponding metaverse coin typically lists on a cryptocurrency exchange at a higher price. This happens in nearly all cases.
The metaverse is projected to become a trillion-dollar industry in the next decade. This makes now an opportune time to construct a high-quality coin portfolio.
Love Hate Inu, a highly acclaimed new metaverse project, is raising funds through its presale. The remarkable fact that it has attracted nearly $1.3 million within just two weeks of its launch speaks volumes. This fact underscores the immense popularity surrounding this metaverse coin.
Investors have the opportunity to purchase $LHINU tokens at the moment through the Love Hate Inu presale dashboard. This platform accepts ETH and USDT as payment methods.