With all the recent talk about Metaverse crypto projects and coins, many people might still be confused about what that entails. This article will demystify the idea of the Metaverse and the role it plays across different verticals such as gaming, finance, and real estate. We will also cover a few options for investing in the Metaverse and betting on its rise.
Who Coined the Term Metaverse?
The term “Metaverse” was initially coined by Neal Stephenson in his 1992 science fiction novel Snow Crash, which featured a fictional world virtual reality environment where people used avatars to interact with each other and explore the virtual world.
Contrary to popular belief, Facebook didn’t come up with the term Metaverse. However, the rebranding of Facebook into Meta brought mainstream attention to the idea of a virtual reality platform.
Moreover, with the global pandemic that’s been wreaking havoc for the past two years, the idea of an immersive virtual world doesn’t sound so bad.
What Is the Metaverse?
The Metaverse refers to any virtual platform that enables user interaction. A Metaverse doesn’t have to be an open-world platform, and it doesn’t have to be 3D or support VR. It could be a simple 2D battle arena or a racing track.
There are different versions of the Metaverse, and some include an open-world 3D environment where users can interact with it. A perfect example is Decentraland or The Sandbox.
While a Metaverse that supports VR headsets like VR Chat is much more immersive than a simple 3D browser experience, both are considered Metaverses.
What are Metaverse Coins?
One prevalent trend in cryptocurrency is Metaverse coins. Those are cryptocurrencies that play a part in the Metaverse ecosystem. Some coins might have their Metaverses like Decentaland and The Sandbox. Other currencies like WAXP might provide a platform for other Metaverse applications to build on.
There are many Metaverse coins, and it’s essential to distinguish between crypto projects that have something to offer and those that are simply riding the hype.
Some of the best Metaverse coins combine aspects of DeFi and NFTs to create play-to-earn free-to-play games that attract a significant amount of attention from the crypto community. Some of the best Metaverse crypto games to check out include Alien Worlds on WAX, StarCrazy on IoTeX, and Axie Infinity on Ronin.
How To Invest in the Metaverse?
There are several options to bet on the rise of the Metaverse. Users can purchase Metaverse stocks or Metaverse crypto coins and hold them.
Users can also purchase real estate in the Metaverse. Two of the most popular options are Decentraland and The Sandbox.
Last but not least, users can purchase NFT collections from popular Metaverse games like Alien Worlds and bet on their rise in 2022.
Metaverse projects exploded in popularity in November and December of 2021. With the upcoming crypto winter, we might see a bearish market for a few months with many cryptocurrencies correcting.
As with any correction, we will see a reordering of projects based on value, not hype. This means that Metaverse coins that offer use cases and have an active ecosystem will excel.
My recommendation if you’re looking to invest in the Metaverse is to check out the platforms yourself and decide which platform you think has something valuable to offer.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency.
By Paul Brabus