Introduction to Metaverse and Metaverse Coins
The term ¡®Metaverse¡¯ has become increasingly prevalent within the context of the cryptocurrency market, mainly since Facebook¡¯s rebrand to ¡®Meta¡¯ in late 2021. A metaverse is a network of 3D virtual worlds focused on social connection. In futurism and science fiction, it is often described as a hypothetical iteration of the Internet as a single, universal virtual world that is facilitated by the use of virtual and augmented reality headsets.
Through the implementation of metaverses, crypto projects can revolutionize how people interact with one another.
Top 5 Metaverse Coins list and Introduction
Presented below are five of the most exciting metaverse Coins projects with the greatest potential in 2022.
| Name | Introduction |
1 | MANA | Decentraland is a distributed shared virtual platform. On this platform, users can browse and discover content and interact with other people and entities. Users can also claim ownership of virtual territories through a blockchain-based land ledger. Domains are non-fungible, transferable and rare digital assets stored in Ethereum smart contracts that can be purchased with ERC20 tokens called MANA. MANA can also be used to purchase digital goods and services in the virtual world. |
2 | AXS | Axie Infinity is a Pok¨¦mon-inspired digital pet world built on the Ethereum blockchain, where anyone can be rewarded with tokens for skilled gameplay and contributions to the ecosystem. Axie Infinity Shards (AXS) are an ERC 20 governance token for the Axie universe. Holders will shape the future of Axie Infinity by signaling their support for upgrades to the ecosystem and directing usage of a Community Treasury. |
3 | SAND | The Sandbox is a decentralised, community-driven gaming ecosystem where creators can share and monetise voxel assets and gaming experiences on the Ethereum blockchain. SAND is our main utility token that allows you to buy and sell LANDS and ASSETS in The Sandbox metaverse. |
4 | LINK | Chainlink (LINK) is a decentralized network that provides information (oracle) to smart contracts. Chainlink was founded in 2017 by Sergey Nazarov and Steve Ellis to solve the problem of off-chain information procurement through smart contracts for its execution parameters. Smart contracts are designed to execute automatically when certain parameters are met, but, when those parameters exist off-chain, rely on an information source (called an oracle) to provide the necessary information. Off-chain oracles tend to be centralized and rely on third parties to provide critical information in a trusted and time-critical manner. |
5 | ILV | Illuvium is an open-world GameFi game built on the Ethereum network. The game's native currency, ILV, is used to reward gamers with the game's in-game earning features, and serves as the project's governance token. Illuvium leverages the Ethereum layer 2 scaling solution Immutable X to significantly reduce the gas fees required to transact NFTs. As with other popular GameFi games, gamers fully own their Illuvials and can trade NFTs on the secondary market. Illuvium offers players and investors a very unique opportunity to collect, trade, battle and acquire rare and valuable assets. |
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