Metaverse Token 101: Everything You Must Know

If you’ve ever heard that a magician wants to put on a new hat to look different and conjure thrilling magic, you know it is time not to sit on the edge of your chair. That’s because he might blow you away. That is the same thing the Metaverse is bringing to the virtual world. The Metaverse is blending virtual reality and physical manifestation into one. As a result, the virtual world now has a new token, metaverse token.

The Metaverse and metaverse tokens bring a new appearance and experience to internet users. It combines augmented, extended, and virtual reality blending with the real-world experience. There will be a significant shift in the use of the internet. And the extension of this experience will happen in other sectors.

Due to its promising nature, Bloomberg predicted its potential market value to grow close to $1 trillion in the next two years. The exploding power of tokenization is fascinating as metaverse tokens increase the market potential of non-fungible tokens (NFTs).

Definition of Metaverse and Metaverse Tokens

Think of the Metaverse as the change in our interaction with technology. And this will happen via the internet and the development of 3D virtual spheres. It is an avenue for enhanced social interaction via virtual reality blending up with augmented reality.

Metaverse tokens are the virtual currency that the Metaverse people will use to conduct transactions. As a result, users can manufacture goods, buy and sell them, and tokenize their funds. Due to the development of the Metaverse and the option of tokenization, some tokens have promising futures for increased value with time.

The Big Corporation Investment in the Metaverse Development

A critical investigation into the potential of the Metaverse spiked after Facebook announced the change of its parent name to Meta. This move pokes every individual and organization, venturing into the metaverse. Mark Zuckerberg—the CEO of Meta—is willing to be at the frontline of Metaverse development and wants to become the reference to the creation of the Metaverse.

Based on his proposition, thousands of employees will work on the project, and he is willing to invest up to $10 billion in the new venture. Yet, he positioned that they are eager to spend more based on their developmental stage and progress recorded with time.

As an effort to keep its monopoly game at the top, Mark invested about $50,000,000 already. Meta is working to become the owner of the future’s operating system. If this is the absolute goal, Mark will spend more to achieve that and beyond. After all, the peak of capitalism is the adventure of ownership cum monopoly.

If you are looking for how well Mark has invested in tokenized funds, think about Libra. Libra is a 2019 project wherein Facebook was trying to create a universal currency that impacts sovereign currencies. But this causes a series of turmoil in the tech and financial world. As a result, Facebook created Diem. Diem is a stablecoin backed by Facebook, and its launching date is expected to be this year, 2022.

Metaverse Tokens Becoming the “Big Bang” in the Virtual Asset World

Think of metaverse tokens as the currencies you spend in the market. But this time, you are using it in the Metaverse. Metaverse tokens are currency units used for transactions in the Metaverse. Despite using them in the Metaverse network, there are some metaverse tokens that you can spend outside of the Metaverse—on different exchanges such as Binance and Coinbase.

There is a lot of excitement about metaverse tokens in the financial space. Strategists see lots of opportunities within the space due to that. And they are willing to capitalize on it, create new financial movements and spread financial inclusion to a large extent across the globe. Metaverse tokens are a massive opportunity bigger than anyone, and everyone will benefit from them.

Metaverse Tokens with the Best Potential

This piece will mainly mention three tokens with significant use cases in their sectors and the Metaverse. Over time, they have become popular, and token enthusiasts are using them more than the available tokens. Although they are attached to use cases like gaming and video delivery, their extension into the Metaverse is excellent leverage.

SAND is a token in the virtual gaming world of The Sandbox. You earn the SAND tokens when you play this game and complete awarded activities. These tokens are created on the Ethereum blockchain and can be used in the Metaverse to purchase virtual items. At the moment, a single unit of SAND costs $6.55.

Another one is the AXS token of the Axie Infinity virtual game. It has the same play-to-earn game model, but you transact collectible monsters to obtain AXS tokens. The monsters are made into NFT tokens, each having its unique features. At the moment, the global market cap of AXS is more than eight billion US dollars.

The third one is the THETA Coin of the Theta Network. This decentralized platform is a video streaming and delivery network built to over the problems of traditional video streaming platforms. As a result, Theta Network introduces blockchain-based solutions. The THETA Coin is used to validate transactions, and its current price is $6.69.

Wrap Up

Without intense argument, metaverse tokens are essential for participants in the Metaverse. This is a huge opportunity for individuals, groups, or organizations to intensify their metaverse development. As a result, they will seek entry points, introduce innovations, and effect changes within the Metaverse space.

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