Designed With Canva
In the early quarter of 2021, Metaverse tokens saw a massive growth with a total market capitalization reaching $34 billion. With this growing rate of the Metaverse, more tokens was created to facilitate trading. More Metaverse tokens are created and used for buying and selling like traditional(Fiat) currencies.
Today, I'll be reviewing the top tokens used in the meta world, with their differences and similarities and how they are used to buy or sell on various meta Platforms. Here is a list of the top 5 tokens used in the Metaverse.
- MANA Token
%20(11).jpeg)
Mana is the native token that operates on the DAO platform, Decentraland. It's an Ethereum (Erc-20) based tokens that is used to purchase land or collectables in Decentraland. Mana was specially made to conduct online commerce In Decentraland and it has grown beyond that. In 2017, Mana was airdropped for around 0.01008 USD. It price has steadily increased to $3 but the isstability of the market right now it dipped to around $1.
- AXS Token
%20(3).jpeg)
Axie Infinity Shard (AXS) is a governance token that powers a popular Play-to-earn decentralized game, Axie Infinity. It's based on the Ethereum (ERC-20) network. Having AXS tokens gives you special abilities in the game. The game skyrocketed in 2021 and is reaching up to $2.4 billion in sales since 2018 of its launch. Players can earn AXS tokens when they play and win game's missions.
- SAND Token
%20(4).jpeg)
SAND is the native token for the Sandbox Ecosystem, it primary use is for transactions and Interactions in the platform. It's based of Ethereum (Erc-20) network and has a limited supply of 3.2 billion sand which 1.2 billion is in circulation.
The token is used for staking, Governance and transfer. Individuals can obtain sand through gameplay and can be used to buy in-game equipments or custom avatars.
- Theta Token
%20(5).jpeg)
Theta is the native currency that operates on the Theta Blockchain. There was a need for video advertisers to find a new way to stream their content using Blockchain Bandwidth, thus creating the Theta Token. Theta is valued at $1.3 due to the instability of the market and at all time high was $3. In the Metaverse, theta was the first Blockchain that enables creators to share their contents in its network.
- Tezos (XTZ)
%20(6).jpeg)
XTZ is the native currency that operates the Tezos Blockchain. This type of Blockchain is said to be energy efficient and it's used by Artist, Developers, Brands and Entrepreneurs where they engage within a newtork of Decentralized Apps.
Tezos can also be referred to as a smart contract blockchain where developers utilize it software to create smart contract. Any feature that makes the Tezos Blockchain unique is it's rooted democratic system where decisions are made based on the majority of holders in the blockchain.
There are numerous other decentralized platforms created for different reasons but they lose their value when they're out of the Metaverse. These tokens can be either be transferred or sold for FIAT currency. The success of a Metaverse tokens depends on how the platform is performing. It's advisable to keep track on Metaverse platforms that license these tokens. Thanks for reading...⭐
| Business name: | Ronin Graphix |
|---|---|
| Owner's name: | @ronindboss |
| Business address: | Barnawa, Kaduna State, Nigeria |
| About Business Activity Community: | Link |