The Metaverse appears to be the next big investment opportunity for both equity and crypto investors around the world.
Crypto investors can tap into the market by buying some of the best metaverse coins while equity investors can look at metaverse stocks and ETFs.
You might be wondering what the Metaverse is. In short, it is one of the next iterations of the internet that can be experienced in augmented and virtual reality.
It is believed to be the nexus of different digital universes where users can interact. The original concept of the Metaverse is from the 1992 Neal Stephenson science fiction novel, Snow Crash.
Some industries that will be a major part of the Metaverse include gaming, eCommerce, and social media.
In this article, we will cover 15 of the top Metaverse crypto coins and discuss their utility, use case, network, and where to buy them.
In the Metaverse, crypto coins are the main currency as much of the economy will take place on the blockchain.
Metaverse crypto coins are similar to regular cryptocurrencies, except they serve a specific purpose in the Metaverse. For example, game-specific cryptos can be used to purchase in-game items and features.
Canadian investors who are looking to get into the Metaverse industry early will want to consider this Metaverse coins list for investment ideas.
Below are the Metaverse Coins we will be discussing in this article:
- Axie Infinity (AXS)
- The Sandbox (SAND)
- Decentraland (MANA)
- Enjin Coin (ENJ)
- Theta Network (THETA)
- My Neighbor Alice (ALICE)
- Gala Games (GALA)
- Mobox (MBOX)
- Bloktopia (BLOK)
- Wax (WAXP)
- Metahero (HERO)
- Illuvium (ILV)
- UFO Gaming (UFO)
- DeFi Kingdoms (JEWEL)
- Star Atlas (ATLAS)
Axie Infinity is one of the first DeFi play-to-earn games that gained popularity during the past couple of years. The game was established in 2018 and is based on the Ronin Network which is a side-chain to the Ethereum mainnet.
The in-game crypto token is called AXS or Axie Infinity Shards and are used to buy in-game items or playable NFT characters called Axies.
Axie Infinity is a Pokemon-style game where you breed, raise, and battle Axies against other players.
The game gained popularity in the Philippines where some players were able to earn more than from employment wages.
The AXS metaverse coin is currently trading at approximately $20 USD with a market cap of $1.2 billion.
Learn about how to buy Axie Infinity in Canada.
The Sandbox is a decentralized gaming world that operates as a Metaverse on the Ethereum blockchain.
In the Sandbox, players can buy plots of land in the form of NFTs and build upon them using the in-game currency SAND. The SAND token can also be used to buy in-game items for avatars.
The Sandbox is very much an interactive Metaverse where players create their own digital world in the same vein as Decentraland or Roblox.
As of May 2022, global companies like Samsung, Gucci, Adidas, Square Enix, and even PricewaterhouseCoopers own plots of land in the Sandbox Metaverse.
The SAND metaverse token currently trades at just under $1.18 USD with a market cap of $1.4 billion.
Learn about how to buy The Sandbox in Canada.
Decentraland is another decentralized gaming world that is similar in gameplay to the Sandbox. It first launched in 2017 but gained most of its popularity after 2020 during the pandemic.
Decentraland’s in-game token is called MANA and is used to facilitate purchases of NFT plots of land as well as in-game items and services.
Decentraland has seen major events held in its Metaverse including Metaverse Fashion Week and Sotheby’s first virtual auction. It has even hosted Metaverse concerts from artists like Deadmau5.
Major companies like Samsung, Tokens.Com, and JPMorgan all own plots of land in Decentraland.
Learn about how to buy Decentraland in Canada.
Enjin Coin is a project that is built on the ERC-20 Ethereum blockchain and was launched in 2017.
Enjin’s main utility is to manage and store in-game items from virtual and decentralized gaming environments.
It has its own native wallet which enables players to have access to their inventory of items, NFTs, and in-game currencies.
Enjin acts as a way for items and currencies to be moved across multiple gaming platforms, eliminating fraud and high gas fees on the Ethereum network.
The Theta Network is a network that hosts next-generation, decentralized video streaming services.
It was established in 2017 and is backed by some major players in the industry. Members of the board include YouTube co-founder Steve Chen and Twitch co-founder Justin Kan.
Theta Network offers high-quality streaming video at a lower cost than traditional video-streaming platforms.
It also offers content creators the ability to get paid while still owning their intellectual property. This makes Theta Network a key player in the upcoming shift to Web3.
The THETA token is used as a governance token, which means users can buy and stake THETA to earn more tokens, as well as validate the Theta Network.
My Neighbor Alice is another blockchain-based virtual world-building game that was created in March of 2021.
As with most play-to-earn games, in-game items are offered as NFTs in an open-world format with elements of DeFi as well.
Players can use the ALICE token to buy virtual islands in the form of NFTs, as well as in-game items and services. It can also be used to stake within the game to earn more ALICE tokens.
My Neighbor Alice is based on the Binance Smart Chain blockchain which has minimal transaction fees.
Gala Games is another play-to-earn blockchain-based gaming project that launched in 2020.
Rather than being its own independent game, Gala Games is a platform that hosts various DeFi games like Spider Tanks, Townstar, and Last Expedition.
While Gala Games started as an Ethereum project, it recently moved over to the Binance Smart Chain which reduces in-game transaction fees.
The GALA token is used as the in-game currency for buying items, while also serving as a validator token to secure the network.
There is a fixed cap of 50 billion GALA tokens.
Mobox is a play-to-earn gaming model built on the Binance Smart Chain that is involved in the NFT and DeFi industries.
Mobox is another blockchain-based gaming platform, with a free-to-play model. This makes it more intriguing for players who do not need a large amount of capital to start playing.
Mobox is attempting to integrate Metaverses through interoperable NFTs and gaming.
Mobox tokens are called MBOX and can be staked to earn mystery boxes that contain NFT prizes.
Bloktopia is a Metaverse platform that has taken the form of a 21-story virtual skyscraper. Plots of retail space on the floor plans of Bloktopia are currently being sold to users.
This platform will be an all-in-one Metaverse experience where users can shop, attend events, play games, and interact with other avatars,
Bloktopia’s native token is called BLOK and can be used for various things in the Metaverse including paying for land and earning through staking and advertising.
Bloktopia is built on the Polygon network and is a virtual reality-based Metaverse.
Wax or World Asset Exchange, is its own blockchain network that prides itself on being an environmentally friendly blockchain protocol.
The Wax blockchain has many purposes including eCommerce, gaming, and NFTs through decentralized applications or dApps.
Wax has already partnered with major collectible brands like Topps trading cards, Funko, Atari, and Capcom Street Fighter for official NFT collections.
WAXP is the native token of the Wax blockchain and can be used to purchase NFTs and validate the network through staking.
Metahero is a project that allows users to scan and create their own NFTs from real-life objects. It is one of the top metaverse crypto coins.
Metahero combines 3D scanning technology to render everyday objects in a digital form. These can then be minted on the Binance Smart Chain as NFTs.
HERO tokens are the native transaction currency in Metahero and are used to pay for each scan that is made with the Metahero app.
Metahero has its own marketplace and economy where users can buy, sell, or trade their NFTs.
Illuvium is an upcoming blockchain-based game based in an RPG setting on the Ethereum network.
Like in Axie Infinity, users collect Illuvials which are mythic creatures each with their own class and traits. Illuvials are NFTs and can be purchased with the in-game token, ILV.
Users can win battles against other players and complete quests with their Illuvials to make them stronger.
There are two native tokens in Illuvium: ILV and sILV. ILV is the liquidity token used for staking and participating in the game’s governance through its DAO. ILV is locked and vested for a year, while sILV is available immediately for use.
UFO Gaming is another blockchain-based gaming platform that is built into the Ethereum network and utilizes the layer–2 scaling network called Immutable X.
UFO Gaming’s primary play-to-earn game is titled Dark Metaverse. The game incorporates features such as breedable NFT creatures and earning virtual land plots.
There will be several games within the Dark Metaverse that utilize the UFO token as the main currency.
The UFO token is used for staking, earning rewards, and general DAO governance by its users.
DeFi Kingdoms is a popular play-to-earn game set in an old-school fantasy RPG setting on the Harmony blockchain.
DeFi Kingdoms also has a parallel world built on the DFK blockchain which is a subnet of the Avalanche blockchain, which utilizes an in-game token called CRYSTAL.
It uses the in-game token called JEWEL which is used to buy NFT heroes, and serves as the primary source of commerce in the game.
The game continues to add features including PvP and PvE game modes, in addition to its liquidity pool farming.
Star Atlas is a blockchain-based game set in a space exploration world on the Solana blockchain.
It is yet another Metaverse game that incorporates in-game NFTs with a dual token economy.
Star Atlas has two primary tokens: ATLAS and POLIS. ATLAS is used for in-game transactions such as purchasing NFTs, while POLIS is used as a governance token to have input for the Star Atlas decision-making team.
Luckily for Canadian crypto investors, there are plenty of crypto exchanges popping up in Canada. Here are some of the best.
Most Canadian investors know Wealthsimple as the no-fee stock trading platform, but it also offers crypto trading as well.
Wealthsimple Crypto is Canada’s first regulated crypto trading platform and allows you to view your entire portfolio of equities and crypto at once.
Wealthsimple Crypto offers over 50 different tokens to trade including Metaverse coins like AXS, SAND, and MANA.
Trade several cryptocurrencies
Excellent trading platform
1.5% to 2% trading fee
Get a $25 bonus when you deposit $150
NDAX.io is a Canadian crypto exchange that was founded in 2017 in Calgary, Alberta.
NDAX claims to have the lowest crypto trading fees in Canada. It offers over 30 different cryptocurrencies to trade including Metaverse tokens like AXS, SAND, and MANA.
NDAX also offers users the ability to stake cryptos like Ethereum and Cardano, as well as OTC large market trades at the NDAX Wealth desk.
NDAX Crypto Exchange
Trade several popular coins
Access to one-click trades and advanced tools
0.20% trading fee
$10 bonus when you deposit $100
Newton.co is one of the more well-known crypto exchanges in Canada with user-friendly apps for desktop, Android, and iOS.
Newton is fully compliant with Canadian crypto regulations and is FINTRAC-registered.
Newton offers over 70 different crypto tokens to trade including Metaverse tokens like SAND, AXS, MANA, and ALICE.
Trade several popular coins
Excellent crypto broker for newbies
Up to 2.00% trading fee
Get a $25 bonus when you trade $100
Binance is the world’s largest crypto trading platform by volume. It offers the widest range of features in the industry including fixed and flexible staking, liquidity pools, and futures trading.
Binance also offers NFT investing, Binance Pay for businesses who wish to accept crypto payments, and margin trading for experienced crypto traders.
Binance offers over 600 different cryptocurrencies to trade including Metaverse tokens like MANA, SAND, AXS, and ALICE.
Many analysts estimate the value of the Metaverse will easily reach $1 trillion by the end of this decade.
Major companies like Meta Platforms, Microsoft, and NVIDIA are investing heavily in the space. It certainly has the chance to be the next big revolution in internet technology.
These blockchain-based tokens will be the primary currency, governance, and validation for the Metaverse networks.
Given that the industry is anticipated to grow by so much over the next few years, it is worth considering some of these best Metaverse tokens for your crypto portfolio.
Related: Best Metaverse ETFs in Canada.
Disclaimer: Cryptocurrency is a volatile and speculative investment. If you decide to invest, we recommend you do your own research and only commit funds you can afford to lose. The author may own one or more of the crypto assets mentioned in this article.