Metaverse Cryptocurrencies Under $10

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Contributor, Benzinga
January 11, 2022

Looking to invest in metaverse cryptocurrency? Gemini exchange offers several options to choose from!

Not only has the metaverse become a hot topic, it has offered individuals and organizations the potential to learn, earn and play in a new virtual world. The metaverse is monetized by digital tokens that act as currencies within different virtual realms. These tokens are often used to buy wearables for avatars, create games, offer rewards and grant access to events. Token utility is sure to expand as the metaverse develops into the future. 

The metaverse projects currently being developed on several blockchains are powered by tokens that are used to purchase assets. Real estate, wearables and events have become three prominent use cases for these tokens. Metaverse tokens are a unit of currency used to make transactions within the metaverse, and while some metaverse tokens can solely be spent within the metaverse, some are also available on exchanges such as Coinbase Global Inc. (NASDAQ: COIN) and Gemini. 

As more avatars find their feet in the virtual lands of the metaverse, it is worth exploring some of the metaverse crypto investments under $10.

What Is the Metaverse?

Defining the metaverse isn’t simple. Essentially it is a virtual world with digital economies built in various environments where avatars can buy, sell and interact with digital assets. The concept shifts how people engage with blockchain technology and the development of virtual landscapes that include real estate, events and NFTs. The tokens used to interact within these worlds clearly differentiate the metaverse from virtual reality or any online gaming platform. Today, avatars and organizations have the ability to create self-sustaining ecosystems with the potential to earn, learn and play inside the virtual worlds.

Decentraland (MANA): History, Overview and Comparison

Founded in 2017 and open to the public in 2020, Decentraland is built on the Ethereum blockchain and is now one of the most popular blockchain platforms globally. With over 300,000 monthly active users in Decentraland and big names like Paris Hilton hosting music events, this metaverse has attracted huge interest to date. Luxury brands and famous faces were quick to see the unique branding opportunities offered in Decentraland. Nikeland is one of the most well known brands with a location in Decentraland within the fashion district, where you can also shop for Gucci or Prada Clothing.

Decentraland’s native token is called MANA. The value of this token has increased over time but skyrocketed when Mark Zuckerburg announced Facebook’s name change to Meta Platforms Inc. (NASDAQ: FB). In January 2022, the token’s market cap is over $4 billion, and it is ranked in the top 50 coins on

Holders of the MANA token become part of the Decentraland community and can propose and vote on policy updates, the specifics of LAND auctions and the types of content allowed in the metaverse. Major crypto exchanges facilitate trading in MANA, including Coinbase, eToro and FTX. You can purchase one MANA token for a bit over $3 as of January 2022.

Sandbox (SAND): History, Overview and Comparison

The Sandbox is a metaverse game built on the Ethereum blockchain where players can create, play, earn, own and monetize their experiences. Within The Sandbox, users can trade digital assets using their native tokens SAND, LAND and ASSETS. The project was launched in 2011 by Pixowl, and the founders are on a mission to bring blockchain technology into the traditional gaming industry. It has become renowned as home to the Adidas Originals brand that bought a plot of land in The Sandbox in 2021 and Snoopverse, what Snoop Dogg is calling his slice of the metaverse pie.

The primary utility token for the platform is SAND, and this token facilitates transactions on the Sandbox platform. SAND tokens can be used to buy digital assets and to create play-to-earn gaming experiences. The tokens can be purchased on digital exchanges like Coinbase and eToro. Owners of SAND can use it to purchase in-game wearables for their avatars, vote on proposed plans for The Sandbox metaverse and stake tokens to earn future rewards.

In November, The Sandbox raised $93 million in a Series B round led by gaming company Softbank Vision Fund 2. This raise was the company's first investment in the crypto space. It also has big plans to support more creators and bring more brands into the metaverse.

Nearly 100,000 holders of SAND tokens exist in January 2022, according to Etherscan. Currently, one SAND is equal to over $5.

Enjin Coin (ENJ): History, Overview and Comparison

Enjin was established in 2009 as a community gaming platform. In 2017, it pivoted into the blockchain industry and launched its ERC-20 token, Enjin Coin (ENJ). With over 1 million user downloads of its wallet and over 3,000 projects created on the platform,  ENJ is used to directly back the value of NFTs minted within the Enjin ecosystem.

The platform provides software developer kits that give developers the tools needed to build their own NFTs on the Ethereum blockchain and integrate with blockchain games and decentralized applications (DApps). When a new NFT is minted on the Enjin network, ENJ is minted into the token. The locked funds give the newly built goods real world value.

Enjin is a pioneer of the NFT space on Ethereum with its ERC-1155 contract that allows NFTs to upgrade. The platform also maintains its own native NFT marketplace and a wallet with NFT support. In 2021, Enjin’s Efinity won Polkadot’s sixth parachain auction with a contribution of over $214 million in DOT. Efinity is Enjin’s scalable, decentralized, cross-chain NFT infrastructure. In January 2022, one ENJ trades around $3.

Metaverse Stocks vs. Cryptos

As cryptocurrencies emerge as assets in the world of finance, many individuals consider crypto as part of portfolio diversification. However, there are key differences. A stock represents a share of a business. To own a stock, one would typically use a brokerage account. Although stock exchanges have existed for centuries, crypto exchanges like Coinbase are new to the scene. With crypto, the value is dependent on a range of factors, including supply and demand for that digital currency. Investors experience risk and market volatility in trading stocks and crypto.

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Will the Metaverse run Continue In 2022?

The future of the metaverse looks bright. Providing the ultimate escape from the harshness of real life, brands and businesses are using the metaverse as a playground of positivity with opportunities to tap into vibrant and lucrative crypto communities. 

With more avatars spending time wandering around this virtual real estate, the assets within these worlds are becoming increasingly valuable. Plots of lands are gaining interest from people, brands and organizations wishing to be part of these future worlds. As the physical world continues to join forces with the metaverse, the trend of buying into new environments and projects will continue. Later this year, Decentraland will host the first Metaverse Fashion Week where users can enjoy a glimpse into the wearable NFT industry that is sure to scale as fashionable avatars multiply. 

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