Interest in the metaverse - which bridges the gap between the real and virtual worlds - will grow rapidly in the coming years.
This is also confirmed by the fact that social media giant Facebook recently changed its name to Meta Platforms.
In this guide, we discuss the best Metaverse cryptocurrency projects to buy in 2023. We'll also show you how to buy Metaverse tokens of your choice from an SEC-regulated broker in less than five minutes.
Best Metaverse cryptocurrency projects to buy in 2023
Below is a list of the top Metaverse cryptocurrencies to invest in in 2023.
If you are interested in buying cryptocurrency tokens that focus on Metaverse - later in this guide you will find step-by-step instructions on how to complete your investment.
A closer look at the best Metaverse cryptocurrency projects to invest in
By investing in Metaverse now, you are entering an innovative niche market that is just beginning to take off. As such, you have the opportunity to purchase the Metaverse token of your choice at a favorable entry price.
Moreover, you will also have the opportunity to diversify your portfolio with some of the best long-term cryptocurrency investments in 2023.
In the sections below, we take a closer look at the top 10 Metaverse cryptocurrency projects to buy now.
Note that many of the cryptocurrencies featured in this guide are considered some of the most undervalued projects you can invest in right now.
1: Decentraland - the best metaverse cryptocurrency to buy in 2023
Founded in 2018, the Decentraland team was able to get a head start on the Metaverse race. Simply put, this leading Metaverse project is built on top of the Ethereum blockchain and offers virtual gaming experiences to users around the world.
Users can create and customize their characters, chat with other users and explore the ever-growing world of Decentraland. It is also one of the best Web 3.0 cryptocurrencies to buy this year.
And from an investment perspective, Decentraland has its own currency - MANA. Importantly, all transactions that take place in Decentraland must be done in MANA - giving the token real utility. Some of the most lucrative transactions involve the purchase of virtual land and real estate, which often sell for more than $1 million 🙉.
Users can also buy and sell in-game items to enhance the Decentraland experience. In terms of market performance, Decentraland was valued at just 0.025$ when it first hit public exchanges in 2018. In November 2021, the same Metaverse-based cryptocurrency reached a record high of 5.90$.
That's a gain of more than 24,000%. Decentraland - and the rest of the cryptocurrency markets - saw a correction in the first quarter of 2022. As of today, you can buy MANA tokens at a steep discount - the coin is trading more than 50% below its ATH.
2: The Sandbox - The next promising metavers cryptocurrency worth investing in
Direct competition to Decentraland is The Sandbox, which is also one of the best Metaverse cryptocurrencies to invest in. This project was launched even earlier than Decentraland, with the first game released by Sandbox back in 2012. Since then, however, Sandbox has expanded its business model to focus on the Metaverse.
Built on the Ethereum blockchain, Sandbox allows users to build, earn and trade in-game items. As with Decentraland, it is possible to buy virtual land and build properties. These properties can then be sold on the open market. Like Decentraland, Sandbox has its own cryptocurrency - SAND.
According to CoinMarketCap, SAND first appeared on public exchanges in mid-2020 at an initial price of 0.051$ per token. In November 2021, so did Decentraland, SAND reached a record high of 8,44$. This means that in just one year of trading, Sandbox has increased the value of its tokens by more than 16,000%.
Note, if you're not sure whether Decentraland or Sandbox is right for your wallet, eToro's SEC-regulated broker gives you access to both Metaverse cryptocurrencies from just a $10 investment.
3: Axie Infinity - Best metaverse cryptocurrency for play-to-earn games
Launched only in 2020, Axie Infinity is one of the Metaverse's top cryptocurrencies for play-to-earn games. For those unfamiliar with the concept, play-to-earn games give users the ability to generate rewards after completing certain tasks - such as reaching a certain level. This encourages users to engage with the broader Axie Infinity ecosystem.
The most important goal of players is to collect, breed and reproduce digital animals. Once they are culled, they can be presented in the form of unique NFTs, which in turn can be sold on the open market. Like Decentraland and Sandbox, Axie Infinity is built on the blockchain Ethereum.
Axie Infinity also has its own token - AXS. When AXS was launched in early 2020, you would have paid just 0.15$ per token. And in November 2021, the same token peaked at over $165. This translates into an increase of almost 110,000%. This makes Axie Infinity one of the best Metaverse tokens to buy, in terms of market performance.
5: Ethereum - De-Facto home of the Metaverse's top cryptocurrencies
The four top-rated Metaverse projects analyzed above - Decentraland, the Sandbox, Axie Infinity and Enjin Coin - all have one thing in common - they were all built on the Ethereum blockchain. In fact, this seems to be the case for virtually all Metaverse projects we came across - so it goes without saying that Ethereum should also be considered if you want to invest in the broader industry.
That's because Ethereum is the world's leading smart blockchain contract - a key piece of technology that allows Metaverse virtual worlds to function in a decentralized and secure way. And when you consider that this year Ethereum is expected to switch to a proof-of-stake consensus mechanism - this will open the door for even more Metaverse projects.
After all, Ethereum 2.0, as the update is called, will greatly increase the speed and scalability of transactions, while reducing fees almost to zero. And don't forget - when Metaverse projects build their ecosystem on top of the Ethereum blockchain, fees are paid in ETH. As such, Ethereum is one of the best Metaverse coins to invest in today.
6.Theta Network- Blockchain technology, dedicated to video streaming
Theta (THETA) is a blockchain-based network designed for video streaming. Launched in March 2019, Theta's core network operates as a decentralized network where users share bandwidth and computing resources on a peer-to-peer (P2P) basis. The project is advised by Steve Chen, co-founder of YouTube, and Justin Kan, co-founder of Twitch.
Theta has its own THETA cryptocurrency token, which performs various network management tasks, as well as Google, Binance, Blockchain ventures, Gumi, Sony Europe and Samsung as Enterprise validators, and the Guardian network of thousands of community-managed guardian nodes.
The developers say the project aims to shake up the video streaming industry in its current form - centralization, poor infrastructure and high costs often result in a poor experience for end users. Content creators also get less revenue because of barriers between them and end users.
7: Illuvium - Fantasy Battle Game Meets the Metaverse
Another project on our list of top Metaverse cryptocurrencies is Illuvium, founded in 2020. In a nutshell, the Illuvium team has built an open-world game platform that is based on an RPG (role-playing game) model. Fully immersive in nature, players are tasked with hunting creatures that are aptly named Illuvials.
Illuvium first released its native ILV token in early 2021 - which initially hit exchanges at a price of just $68. Just seven months later, the ILV token reached more than $2,800 - translating into an increase of more than 4000%. Illuvium has since fallen to around $600, so the entry price is very attractive.
8.Phantasma - A fully interoperable, decentralized and feature-rich blockchain.
With its innovative staking mechanism, dual token system, sustainable tokenomics model and advanced green smartNFT. The chain is designed for digital products and services for communications, entertainment, marketplaces and on-chain storage solutions for dApp developers and enterprise customers.
With mainnet operational since October 2019, it has proven to be the platform of choice for Gaming and NFT. Not only because of its low minting and transaction fees, but also because of its smartNFT technology, which was built at the chain level, and its commitment to becoming the first certified carbon-negative blockchain.
SmartNFTs are NFTs with dynamic properties that can change depending on certain conditions. They give game developers the ability to decentralize the creation of dynamic in-game objects, which is not possible with traditional NFTs. They also allow the creation of time-based NFTs, multi-layered NFTs, saturated NFTs, and locked content inside NFTs that only the NFT owner can access.
9.Ontology - Scalable Blockchain network for new Metaverse projects
Launched in 2017 Ontology is a Chinese-origin blockchain project that has its own proprietary network. The Ontology team claims that its blockchain is capable of facilitating 4,000 transactions per second, and up to 12,000 in some test environments. What's more, transaction fees are as low as 0.05 ONG. At the time of this writing, that translates to just 0.02$ per transaction.
Taking all these points into account, some market commentators say Ontology may be the best blockchain network to host Metaverse projects. In terms of token performance, Ontology has gone through a major market correction over the past 12 months, going from maxima at 2.94$ to minima at just 0.40$.
10.Wilder World - A low-capitalization cryptocurrency worth watching in 2023
If you're looking for an undervalued player who specializes in the Metaverse, look no further than Wilder World. The project - which describes itself as a "5D Metaverse built on Ethereum" - allows users to buy and build various customized in-game items. This includes everything from land, to apartments, statues and much more. All of these will be represented by NFT.
At the time of this writing, this top-listed Metaverse cryptocurrency has a market capitalization of less than $150 million. This is just a fraction of the value of projects like Decentraland or Sandbox, so Wilder World may be one of the best Metaverse cryptocurrencies to buy because of its growth potential.
What are Metaverse cryptocurrencies?
In short, Metaverse refers to an emerging technology that allows access to the tangible experience of the real world in the virtual world.
- It could be something as simple as a 3D replica of your local city that you can walk around and virtually view your neighborhood.
- The Metaverse can also include a virtual shopping mall where you can browse real-world goods and make purchases - without leaving home.
- Either way, it is worth noting that the Metaverse is not exclusive to cryptocurrencies and blockchain technology.
On the contrary, as mentioned earlier, large-cap companies such as Facebook are also investing billions of dollars in the Metaverse phenomenon.
That being said, there are several Metaverse cryptocurrencies that we like the look of - especially given the current market collapse - and that offer lower entry prices.
At the forefront here are names such as Decentraland, the Sandbox and Axie Infinity - all of which offer their own unique virtual game world that allows users to explore, chat and buy digital plots that can be sold on the open market.
In order for Metaverse products and services to be bought and sold, the platform's native cryptocurrency is required. By investing in the native currency of the Metaverse project of your choice, you stand a chance of financial gains if the value of the token increases.
Are Metaverse projects a good investment?
If you are still unsure whether Metaverse cryptocurrencies are a good investment for your portfolio - this section is a must-read. In it, we discuss the most important issues to consider before you risk any capital on the Metaverse token of your choice.
Metaverse is open to all
First and foremost, the overarching idea behind Metaverse is that virtual worlds will be accessible to everyone. This means that you will be able to watch a movie in a New York theater or go to a nightclub in Rio de Janeiro without leaving your home - no matter where you live.
As a result, there will be no jurisdictional restrictions for those who want to use the Metaverse. This in turn means that global demand for Metaverse projects could be significant.
Virtual real estate of the world Metaverse
Metaverse platforms such as Decentraland and Sandbox have created a new and innovative concept - users can buy virtual land and then build properties on it. Due to the virtual nature of Metaverse, this can be customized.
More importantly, we already have a proof-of-concept in place with land and real estate projects in the Metaverse, as hundreds of millions of dollars in sales have been reported for 2021 alone.
In late 2021, for example, an investor bought 100 virtual islands through the Sandbox platform for the huge sum of $4.2 million. The investor built a villa on each island, and 90% of them sold on the very first day at $15,000 apiece.
- Most importantly, this means that you have two ways to profit from the best Metaverse cryptocurrencies.
- First, you might consider buying the project's native digital currency - such as MANA from Decentraland or SAND tokens from Sandbox.
- Second, you might consider buying virtual properties and building your own facilities with the intention of selling them on the open market.
Ultimately, the possibilities for Metaverse's cryptocurrency projects are endless.
Many Metaverse cryptocurrencies with low capitalization and attractive growth rates
Another reason why you might consider adding Metaverse's best cryptocurrency coins to your portfolio is that this industry is still in its infancy. And as a result, the total market valuation of digital currencies operating in this space is still relatively low.
According to CoinMarketCap, there are currently just under 200 Metaverse cryptocurrency tokens that you can buy. Of this Metaverse list, fewer than 10 projects have a market capitalization of more than $500 million.
In fact, the vast majority of Metaverse cryptocurrency tokens have a valuation of less than $100 million. From an investment perspective, this means that you can invest in the small-cap Metaverse with a small amount of money, and if it rocks - the potential for growth could be huge.
Diversifying metaverse projects is easy
An additional benefit of investing in Metaverse cryptocurrencies is that it is relatively easy to create a diversified portfolio. This is crucial, as it is unclear which Metaverse projects will dominate this space in the coming years.
Therefore, using the regulated brokerage site eToro, you may want to consider adding various Metaverse coins to your portfolio - as the platform requires a minimum investment of just $10.
Metaverse cryptocurrency prices
If you have read our analysis Metaverse's top 10 cryptocurrencies for 2023, you may have noticed a common denominator. Decentraland, the Sandbox, Axie Infinity and many of the other Metaverse tokens we discuss reached record prices in November 2021, after which the value of their tokens fell.
Simply put, this is because the cryptocurrency market is cyclical. This means that when the market is doing well - which is usually driven by Bitcoin - Metaverse coins can experience sharp price spikes.
On the other hand, when the markets go through periods of decline, the exact opposite happens, so even the best Metaverse projects lose value. This should remind you once again that, in general, cryptocurrency prices are largely driven by "hype" and speculation.
Where is the best and safer place to invest in Metaverse cryptocurrencies
If you are wondering where to buy the best Metaverse cryptocurrencies today - it will depend on the status of your chosen project. For example, leading Metaverse projects with a large market capitalization are often available on the best cryptocurrency exchanges .
On the other hand, if you are looking for a new Metaverse cryptocurrency that was recently launched - you may have to use a decentralized exchange such as Pancakeswap. Nevertheless, the best place to buy Metaverse tokens in a secure, user-friendly and inexpensive way is eToro.
Here's why:
eToro the best place to invest in Metaverse projects in 2023
If you're interested in some of the best Metaverse projects we've reviewed on this site - such as Decentraland, SushiSwap, Axie Infinity, Ethereum or Sandbox - eToro will certainly interest you. When you open an account with this broker, you can buy Metaverse tokens on a spread-only basis and from a minimum transaction size of just 10$. This means that with a deposit of 50$ you can diversify into five Metaverse tokens.
What's more, eToro is authorized and regulated by the SEC and registered FINRA, so you don't have to worry about the safety of your Metaverse investments. In addition to Metaverse cryptocurrencies, eToro gives you access to dozens of other cryptos and even thousands of stocks and ETFs. We also like eToro for its simple deposit process, which includes e-wallets such as Paypal, debit/credit cards and ACH. All USD deposits and withdrawals are processed without fees.
Also we like eToro because it allows you to invest passively in Metaverse and other digital currencies. In this regard, you have two options. First, the copy trading feature allows you to mirror the investments of a successful cryptocurrency daytrader. Second, you can contribute some capital to a cryptocurrency portfolio that is managed by the eToro team. To start using eToro right now, all you need to do is make a minimum deposit of $10.
How to buy Metaverse cryptocurrencies on eToro
This part of our guide will show you how to buy the best Metaverse projects by market capitalization from the comfort of your own home in less than five minutes.
You will learn how to carry out this process on the SEC-regulated eToro platform - which offers the best place to invest in leading Metaverse projects.
Step 1: Open an eToro account
As with all regulated platforms, the first step is to register an account on eToro. To do so, you need to enter your name, email address and cell phone number. Then choose a username and password, enter your home address and date of birth.
To complete the registration process, you will need to upload some sort of identification document. Choose a passport or driver's license, and your document will be verified immediately.
Step 2: Deposit the funds
Before you can buy Metaverse cryptocurrency projects, you must deposit $10 or more into your eToro account. No fees are charged on deposits in USD.
The fastest way to deposit funds is by debit or credit card, as it is processed instantly. Otherwise, you can fund your account via bank transfer, ACH or e-wallet.
Step 3: Search for Metaverse cryptocurrency
If you already know which Metaverse cryptocurrency you want to add to your portfolio on eToro, use the search bar at the top of the screen.
In our example, we are looking for Decentraland. Then click on the "Trade" button next to the desired cryptocurrency you want to buy.
Step 4: Buy the Metaverse project of your choice
Now you will see an order box for the Metaverse token you want to buy. Look for the "Amount" field and specify how much money you want to invest - in US dollars.
Regardless of how much the token costs at the time you place your order, on eToro you can invest from as little as $10. Confirm your investment in Metaverse by clicking "Open Trade."
And that's it - you've just learned how to buy Metaverse cryptocurrencies on an SEC-regulated platform in less than five minutes.
The views and opinions expressed here are solely those of the author and should not be taken as financial advice either. Every investment and transactional activity involves risk, so you are advised to do your own research when making any trading, investment or financial decisions.
