These are the 6 most popular crypto tokens you can use to buy real estate in the Metaverse | Currency News | Financial and business news
- Buying virtual plots became the new normal in 2021 as investors turned to alternative investment trends.
- Virtual land sales exploded around the second half of the year, with NFT-based worlds numbering in the millions.
- Insider has compiled a list of the six most popular tokens you can use to buy land in the Metaverse.
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Virtual real estate, or land in the metaverse, sold as non-fungible tokens is growing in popularity.
You cannot physically visit these properties, but the appeal of this investment is that these assets are backed by tamper-proof certificates stored on the blockchain.
This trend has caught the attention of those looking to invest money in new ways of investing in real estate. People are willing to spend six figures on them, betting they can make a fortune. Some expect triple-digit growth over the next 16 months.
Virtual real estate is not really a new concept. One of the first companies to enter the space was Metaverse Group, which operates the âDecentralandâ virtual platform. But since Facebook became Meta, the idea has generated immense interest, with investors speculating on the ripple effect on various Metaverse games and their respective crypto tokens.
Particularly popular are the properties of the NFT-based worlds of Axie Infinity, Decentraland, and The Sandbox. Corresponding cryptocurrency prices from these projects have also skyrocketed, with Decentraland’s MANA token rising 4,258% in the past year. Google results show that search volumes for these terms have increased in a short period of time, with public interest only in recent months.
Virtual land sales exploded in early December, grossing more than $ 105 million for just four Metaverse projects, according to DappRadar. From that, the Sandbox gaming platform led the way with $ 86.56 million in NFT sales, while Decentraland came in second.
The decision of which Metaverse token to buy depends on the platform you want to explore. Each virtual world has its own unique token that allows users to make digital land purchases.
To access the Metaverse, you’ll likely be asked to set up a crypto wallet to store your digital assets. This allows you to convert fiat currency into cryptocurrency through an online payment system. These tokens can be found on the most popular crypto exchanges, including Coinbase, Binance, and Gemini, which walk you through a simple process.
Here are some of the more popular tokens you can use to purchase land in the Metaverse:
Cumulative returns: 401%
Market capitalization: 448 billion dollars
2. Infinite Axis
Cumulative returns: 18.016%
Market capitalization: $ 6.5 billion
Cumulative returns: 16.853%
Market capitalization: $ 5.6 billion
Cumulative returns: 4.219%
Market capitalization: $ 4.4 billion
Cumulative returns: 28.477%
Market capitalization: $ 3.5 billion
6. Enjin Coin
Cumulative returns: 1.971%
Market capitalization: $ 2.5 billion