Metaverse is still in its early stages and its value proposition has not yet been validated. Any investment should be considered very speculative and dangerous
“snow crash“, Neal Stephenson’s third book, was published in 1992. In it, Stephenson’s protagonists interact in a fully digital world, where appearance can be instantly modified and digital heritage is as valuable as its physical equivalent.
The Metaverse is Stephenson’s name for his computer universe.
Twenty-eight years later, public companies like Meta, formerly known as Facebook, and decentralized autonomous organizations (DAOs) like the Decentraland Foundation, are trying to turn the metaverse into a financial reality.
Retail investors, gamers, digital collectors and developers have access to entirely new sources of income.
The Cryptocurrency Metaverse
Metaverse initiatives on blockchain networks are powered by fungible tokens, which are divisible and can be exchanged with each other. These tokens are used to purchase digital goods such as virtual land or avatar clothing. They can also be exchanged for other cryptos or fiat currencies.
Certain metaverse coins also allow their owners to vote on metaverse platform options such as where the money should be invested or which new features should be released first.
In theory, if the value of digital assets increases, so will the value of the tokens connected to them. Additionally, certain platforms, such as Decentraland, burn all MANA tokens used to acquire digital assets, removing them from circulation forever, and increasing the value of the remaining tokens.
Here is a list of some of the most prominent metaverse cryptocurrencies in descending order. These choices are inherently dangerous and should be viewed as speculative.
As a general guideline, you should never invest more money than you are prepared to lose.
• decentral and – Decentraland’s MANA token boosts the Decentraland metaverse and is utilized as a medium of exchange in the platform’s marketplace, with a market valuation of around $6 billion.
• Axie Infinity – Unlike Decentraland’s MANA, which is used to buy digital products and services, Axie Infinity’s AXS token is used for governance. AXS owners will be able to vote on proposed options that affect the Axie Infinity ecosystem, such as how community treasury money is allocated. There are plans to change the AXS token in the future so that it can be used to purchase digital goods and services on Axie Infinity.
• The Sandbox – Sandbox is centered on a metaverse of user-generated content. Individuals who participated in the Sandbox alpha user test initially received the SAND token. SAND tokens are also available for purchase on digital marketplaces. SAND is a token that can be used for utility, governance and staking.
SAND owners can use their token to purchase digital products and services, vote on proposed projects within The Sandbox, and stake their SAND to receive additional incentives.
• HUH Token – Unlike the other possibilities, HUH Token is in the process of developing a metaverse product. This cryptocurrency launched on December 6th and was very successful, with a price increase of almost 6,000%. His contribution to the ecosystem is the development of a social media platform called metHUH. He intends to monetize sentiment analysis with the combination of NFT generation. They have a powerful marketing team and have said that hundreds of well-known Instagram and Twitter influencers will be posting about Token later this month.
The Future of the Metaverse
Companies highly involved in the metaverse are investing millions of dollars to persuade customers that the metaverse has arrived.
However, will it herald a new era of wide acceptance and barrier-free digital contact, or will it remain a niche product aimed at gamers and future tech enthusiasts? Time will tell.
For now, retail investors interested in the metaverse should investigate these platforms and assess the future value of the metaverse for themselves.
Learn more about the HUH token here:
HUH Official Swap- https://swap.huh.social/