The metaverse is one of the most talked-about innovations of the modern world. Like the Internet, which transformed our lives over a decade ago, the metaverse is here to stay and will join most spheres and industries that are fearless in adopting something new and futuristic. Unsurprisingly, we can already see several crypto examples in the metaverse. The role of crypto metaverse projects may change as these two new worlds find new shapes and forms. Here, we'll get the metaverse explained and review 7 best metaverse crypto coins that facilitate commerce and exchange in the metaverse. 

The metaverse explained

Metaverse is a collective virtual environment integrating various digital worlds through augmented and enhanced physical reality. It's a digital space that erases the line between physical and digital worlds. It is a virtually enhanced physical reality that integrates augmented reality and interactive virtual environments. In the metaverse, users interact with each other like avatars in environments ranging from working and shopping to socialising. 

Although "metaverse" may sound futuristic, its roots trace back to 1992, when Neal Stephenson coined this concept in his novel Snow Crash. Primarily, the metaverse had a fictional explanation: a 3D virtual reality where users could escape from real life. However, this concept laid the ground for understanding today's metaverse — a digital environment that makes everything possible. 

Today, the metaverse has evolved far beyond its early concept. Tech giants like Meta and Microsoft are investing much into developing the infrastructure for the new digital world. In Mark Zuckerberg's version of the metaverse explained, it represents the next stage in the evolution of the Internet, where people can connect, have fun, and work in a virtual space similar to the real world.

How to use crypto in the metaverse

The rise of cryptocurrencies like Bitcoin and Ethereum brought a new partner to the metaverse world. Running on blockchain technology, such currencies offer unique opportunities in ownership, value exchange, and decentralisation in the virtual world. Since the metaverse continues to evolve, the use of metaverse crypto coins has also transformed. Using crypto in the metaverse shapes how people interact with the virtual environment, offering creators and investors new possibilities for digital ownership and online transactions. 

Using crypto in the metaverse involves using metaverse tokens to participate in different activities in the virtual space, like the following: 

• Cryptocurrencies serve as the primary medium of exchange for purchasing virtual assets, such as land, properties, and digital collectables. Users can buy these assets using cryptocurrencies like Bitcoin or Ethereum, which are widely accepted on many metaverse platforms. This allows for the ownership and trading of unique digital items, enhancing the value of virtual real estate crypto.
• The metaverse operates on decentralised platforms where users can engage in economic activities without intermediaries. Cryptocurrencies enable seamless transactions for services and goods, such as virtual experiences, in-game items, and avatar customisations. This decentralised nature fosters a vibrant economy where users can freely earn and spend digital currencies.
• Many metaverse platforms issue native tokens that can be used for transactions within their ecosystems. These native tokens often provide access to exclusive experiences, features, and governance rights, allowing users to influence the development of the virtual space. Users can enhance their virtual experiences and participate in the platform's growth by investing in and using these tokens.
• The play-to-earn model is a significant aspect of the metaverse, where users can earn cryptocurrency by participating in games and completing tasks. This model incentivises engagement and allows users to monetise their time in virtual worlds. Players can sell their in-game assets for cryptocurrency, creating a direct link between gaming and earning real value. Converting these digital assets into fiat currencies is crucial to connect the virtual economy with the traditional financial system.
• Certain metaverse tokens grant holders governance rights, enabling them to vote on critical decisions regarding the platform's development and policies. This democratic approach empowers users and aligns their interests with the metaverse's evolution, fostering a collaborative environment for innovation and growth.
• Cryptocurrencies enable borderless transactions, allowing users from different regions to engage in the metaverse without the limitations of traditional banking systems. This accessibility allows underbanked populations to participate in the global economy, promoting financial inclusivity within virtual spaces.

Blockchain and metaverse

Blockchain is an integral part of the metaverse due to its enhanced security, decentralised governance, and the possibility of managing easy transactions. By integrating augmented reality with blockchain, user experiences in the metaverse can be significantly enhanced, allowing for more tangible and engaging interactions with virtual assets in real-world contexts. As both technologies continue to develop, we anticipate their fusion, introducing us to new interconnected experiences and a refined understanding of digital ownership.

Start Trading
 

7 best metaverse coins on StormGain

Metaverse crypto is no longer a notion of the future. Our reality is gaining new forms and use cases as the blockchain virtual worlds evolve and new metaverse crypto coins are released. Let's consider the 7 best metaverse crypto projects and their futuristic coins, including some of the top metaverse coins that facilitate commerce and exchange within virtual environments, that we can trade on StormGain. 

1. The Sandbox (SAND)

The Sandbox is a decentralised virtual world on the Ethereum blockchain that enables users to create, own, and monetise gaming experiences using the SAND token, a metaverse coin integral to its digital ecosystem.

It features VoxEdit to create voxel-based NFTs, Game Maker to build 3D games without coding, and a Marketplace for trading digital assets. The Sandbox has established notable partnerships with brands like Atari, CryptoKitties, The Walking Dead, and Snoop Dogg, further expanding its ecosystem and user engagement, making it one of the best metaverse crypto coins for your investment portfolio.

Trade Sandbox
 

2. Decentraland (MANA)

Decentraland is a virtual world for buying, developing, and selling digital real estate using the MANA token. Its decentralised platform allows users to create interactive experiences, games, and applications. The MANA token's market capitalisation reflects its financial status within the metaverse, highlighting its significance in the broader cryptocurrency landscape.

Trade Decentraland
 

3. Axie Infinity (AXS)

Axie Infinity is a play-to-earn game where users can play games by breeding, battling, and trading digital pets called Axies using the AXS token. It pioneered the play-to-earn model, which allows users to earn cryptocurrency by participating in virtual activities. Axie Infinity has experienced significant growth, with a thriving community and a robust in-game economy.

Trade Axie Infinity
 

4. Internet Computer (ICP)

Internet Computer, developed by the Swiss nonprofit Dfinity Foundation, aims to replace the centralised Internet with a decentralised alternative. The platform's growth is driven by integrating blockchain and AI technologies, fostering development and offering users benefits through ownership, governance participation, and potential investment value.

Launched in May 2021, it is a vivid example of metaverse crypto tokens that use smart contracts to deliver faster performance at lower computational costs. Initially backed by prominent investors like VC firm Andreessen Horowitz, ICP quickly reached a market cap of over $45 billion, with its token priced at around $700. However, despite its early success, enthusiasm has since declined, and ICP's value has significantly dropped.

Trade Internet Computer
 

5. Stacks (STX)

Bitcoin (BTC) may be the pioneer of blockchains, but its role in the metaverse became clearer with the launch of Stacks. Other users can participate in the Stacks ecosystem by stacking their coins and earning rewards, fostering a collaborative environment. Stacks is a layer-one blockchain that integrates with Bitcoin via its unique proof-of-transfer (PoX) mechanism, allowing Bitcoin miners to mint new STX tokens.

STX holders can also 'stack' their coins to earn BTC rewards. Stacks aims to bring Web3 decentralised applications (dApps) and smart contracts to Bitcoin, the oldest and most secure blockchain. Supported by major venture capital firms like Winklevoss Capital and Y Combinator, Stacks 2.0 launched its mainnet in January 2021, marking a significant milestone in the world of metaverse tokens.

Trade Stacks
 

6. Theta Network (THETA)

YouTube, Netflix, Amazon Prime, and Twitch dominate video streaming and are controlled by centralised companies with significant influence. Theta introduces a new approach, using blockchain to decentralise video streaming through a peer-to-peer network. Theta is a crypto in the metaverse that aims to reduce costs, empower content creators, and eliminate intermediaries, making video more affordable for consumers.

The Theta Network allows users to share spare bandwidth and computing power while watching videos, earning THETA tokens in return. These native tokens are essential for transactions within the Theta Network, driving its functionality and growth. As more users join, streaming quality and speed improve. As more users join, streaming quality and speed improve. Traditional streaming giants have noticed, with Theta's advisory board featuring Twitch co-founder Justin Kan and YouTube co-founder Steve Chen.

Trade Theta Network
 

7. ApeCoin (APE)

ApeCoin is a prominent new player in the metaverse space, created to support the expanding ecosystem around the Bored Ape Yacht Club (BAYC). BAYC, one of the most successful NFT art collections, has a starting price of around $100,000 per piece, while its sister collection, Mutant Ape Yacht Club (MAYC), starts at $18,500, according to CoinGecko. To capitalise on the popularity of these NFTs, ApeCoin (APE) was airdropped to all Bored Ape and Mutant Ape holders in March 2022.

Converting APE tokens into fiat currencies is crucial to connect the virtual economy with the traditional financial system. APE is designed for governance, voting, and transactions within the emerging Ape crypto metaverse.

Trade ApeCoin
 

Closing words

The metaverse crypto industry evolves as new crypto metaverse projects are introduced and futuristic coins are launched. Although we can highlight several metaverse crypto coins as the industry leaders so far, there are more metaverse coins to be released soon. While we anticipate new releases, we welcome you to join the metaverse crypto world on StormGain and trade the metaverse crypto coins you find the most promising!

Register Now