Besides cryptocurrencies, blockchain technology has also created the metaverse, i.e., a network of immersive 3D worlds with their own communities and technologies.
So, what is metaverse crypto? In the metaverse, users are free to do anything – from running virtual businesses to speculating on digital real estate.
All of this has been made possible thanks to NFTs or non-fungible tokens, which represent unique digital assets.
And this is why NFTs have such a critical role to play in the metaverse. With NFTs, in-game assets such as unique characters, weapons, and even real estate can be “owned” by a player.
Hence this has given rise to a flourishing in-game economy that has attracted the attention of millions. Even celebrities like Snoop Dogg and Deadmau5 are looking to get in on the action.
In-universe currencies known as metaverse coins have attracted considerable attention themselves, with some tokens significantly appreciating.
Naturally, you’re asking yourself right now how and where can I get my hands on some metaverse coins.
The easiest and most direct way to get your hands on metaverse coins is by playing games in the metaverse. As these games have their internal economies, you will first need to understand how they work before getting started.
Table of Contents
MANA: Decentraland
Decentraland is a real estate and business simulation game that gives players the freedom to buy/sell land or create their own in-game assets, which can then be sold.
These assets are tokenized in NFTs and then traded in-game using Decentraland’s MANA – the game’s primary medium of exchange. To earn MANA, you can craft your own unique items and mint them as NFTs to be sold on the in-game marketplace.
SLP: Axie Infinity
If you’re more into the action-RPG genre, then maybe Sky Mavis’s Axie Infinity is the game for you. In this game, players participate in PVP and PVE battles to earn SLP or Smooth Love Potions – the currency used in all transactions.
Alternatively, you can also breed Axies, which are creatures in the many in-game battles. Axies come in the form of NFTs, which can then be traded at the marketplace. Some rare Axies have transacted for as much as 300 ETH or more than 900,000 USD.
Given Axie Infinity’s popularity, many analysts have lauded SLP as a solid long-term investment.
ILV: Illuvium
Illuvium or ILV is the most valuable metaverse coin in terms of price. The in-game token is used as a medium of exchange in the action-adventure game; Illuvium. To earn ILV, players will have to battle it out with one another and explore the world around them to collect a variety of rare creatures.
Besides support for NFTs, players can also stake ILV to earn rewards and generate a source of passive income.
Purchase tokens from an exchange
Alternatively, if you don’t have the time or inclination to play games, you can always visit popular crypto exchanges where metaverse tokens are available for sale.
Given how popular the metaverse has become, you can easily find most mainstream coins such as MANA, SLP, or ILV on any decent exchange. These tokens can be bought using fiat or cryptocurrencies – depending on the exchange that you’re at.
Some considerations
While the metaverse is an exciting place, it is not without its own fair share of risks. Like cryptocurrencies, metaverse tokens are decentralized and unregulated. Because of this, they are incredibly volatile, and you can easily find yourself either out of pocket or sitting on a mint.
Ideally, you should conduct your own research to determine if a token is worth investing in or not. At the same time, practice good security hygiene and ensure that your crypto wallet is secured.
Also in Trends:
https://googdesk.com/dogeco/
