These are the 6 hottest crypto tokens you can use to buy real estate in the metaverse | Currency News | Financial and Business News
Metaverse digital cyber world technology, man with virtual reality VR glasses playing AR augmented reality game and entertainment, futuristic lifestyle
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- Buying virtual land became the new normal in 2021 as investors shifted to alternative investment trends.
- Virtual land sales boomed in the second half of the year, with NFT-based worlds grossing in the millions.
- Insider has compiled a list of the six most popular tokens that you can use to buy land on the Metaverse.
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Virtual real estate or land in the Metaverse that is sold in the form of non-fungible tokens is becoming increasingly popular.
You can’t physically visit these properties, but the appeal of this investment is that these assets are backed by forgery-proof certificates stored on the blockchain.
This trend has caught the attention of those looking to invest money in new ways of real estate investment. People are willing to spend six figures on this and bet that they can make a fortune. Some expect triple digit growth in the next 16 months.
Virtual real estate is not really a new concept. One of the first companies to enter this area was the Metaverse Group, which operates the virtual platform “Decentraland”. But since Facebook was renamed Meta, the idea has generated a lot of interest, with investors speculating on the impact it will have on various Metaverse games and their respective crypto tokens.
Properties in the NFT-based worlds of Axie Infinity, Decentraland and The Sandbox are particularly popular. The corresponding cryptocurrency prices of these projects have also skyrocketed, with Decentraland’s MANA token up 4,258% over the past year. The Google results show that the search volume for these terms has skyrocketed in a short period of time, although public interest has only been aroused in the last few months.
Virtual land sales boomed in early December, grossing over $ 105 million for just four Metaverse projects, according to DappRadar. Of these, the Sandbox gaming platform dominated with NFT sales of $ 86.56 million, while Decentraland took second place.
Deciding 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 will most likely be asked to set up a crypto wallet to store your digital assets. This allows you to convert fiat money into cryptocurrency through an online payment system. These tokens can be found on most major crypto exchanges – including Coinbase, Binance, and Gemini – which will walk you through a straightforward process.
Here are some of the most popular tokens you can use to buy a plot of land on the Metaverse:
YTD returns: 401%
Market capitalization: $ 448 billion
The Ethereum network is at the heart of the modern crypto ecosystem.
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2. Axie infinity
YTD returns: 18,016%
Market capitalization: $ 6.5 billion
Image from the NFT game Axie Infinity
Axie Infinity Media Kit
YTD returns: 16.853%
Market capitalization: $ 5.6 billionThe sandbox is a crypto-based metaverse that attracts attention.
4. Decentralized land
YTD returns: 4,219%
Market capitalization: $ 4.4 billion
Decentraland enables users to buy and sell virtual real estate.
YTD returns: 28.477%
Market capitalization: $ 3.5 billion
6. Enjin coin
YTD returns: 1,971%
Market capitalization: $ 2.5 billion