Top metaverse cryptos to watch in 2022: AXS, SAND, MANA, GALA & RNDR

The year 2021 has been one of the best years for the crypto space. While Bitcoin (BTC) and Ethereum (ETH) dominated the scene as their prices soared to record highs, the rally brought many new products, from altcoins, stablecoins to NFTs, into prominence.

Industry buzzwords like metaverse and Web 3 gained currency. The companies are coming up with new ideas, taping music, gaming, e-sports, etc., to attract people to the blockchain world.

Currently, the market has cooled off slightly, but experts see a rebound later this year. The following are the top five metaverse and gaming cryptos gaining traction.

Also Read: What is Titano crypto and why is it rising?

Top 5 metaverse cryptos to explore in 2022

Source: ©2022 Kalkine Media®

Also Read: Why is Polygon (MATIC) crypto rallying?

Axie Infinity (AXS)

Axie Infinity is a trading and battling game based on blockchain technology. The game is partly owned and managed by players. They collect, breed, battle, and trade the token-dependent creatures called Axies in the game. It was built by Sky Mavis in 2018.

Axie Infinity was co-founded by Trung Nguyen and Aleksander Larsen. Sky Mavis is a Vietnam-based game developer.

The token was priced at US$48.72 at 7:43 am ET on March 18, down 3.19%, while its 24-hour volume declined by 38.10% to US$210.46 million. Axie has a market cap of US$2.96 billion, and its fully-diluted market cap is US$13.15 billion.

The token saw the highest price of US$165.37 and the lowest price of US$2.74 in the last 52 weeks. It reached its all-time high of US$165.37 on November 6, 2021.

Its max and total supply are 270 million, and its current circulating supply is 60.90 million. The token is available on major exchanges like Binance, OKX, FTX, etc.

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Decentraland (MANA)

Decentraland is a virtual reality platform backed by the Ethereum blockchain. It allows users to create, experience and monetize the content and applications. In 2017, it launched an initial coin offering (ICO) of around US$24 million. It has two tokens: MANA and LAND.

MANA is an ERC-20 token, while LAND is a non-fungible ERC-721 token. The MANA token is used to make payments for buying avatars, wearables, names, and other products and services.

The token was priced at US$2.37 at 8:18 am ET on March 18, down 3%, while its volume for the last 24 hours decreased by 50.36% to US$336.87 million. It has a market cap of US$4.35 billion, and its fully-diluted market cap is US$5.18 billion.

The token saw the highest price of US$5.90 and the lowest price of US$0.3737 in the last 52 weeks. It reached its all-time high of US$5.90 on November 25, 2021.

Its total supply is 2.19 billion, and its current circulating supply is 1.84 billion. The token is available on Binance, OKX, Hotcoin Global, etc.

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 The Sandbox (SAND)

Sandbox is a blockchain-based virtual world that allows users to create, build, buy and sell digital assets in the form of a game. Launched by Pixowl in 2011, Sandbox created a decentralized platform for the gaming community. The company claims the platform combines the power of decentralized autonomous organizations (DAO) and NFTs.

Sandbox said in its whitepaper that it aims to bring blockchain technology into mainstream gaming. Its platform focuses on the play-to-earn model, where users are both creators and players.

Arthur Madrid and Sebastien Borget had co-founded the Pixowl.

The token was priced at US$3.04 at 8:28 am ET on March 18, down 5.51%, while its one-day volume plunged 52.18% to US$823.15 million. It has a market cap of US$3.46 billion, and its fully-diluted market cap is US$9.11 billion.

The token saw the highest price of US$8.44 and the lowest price of US$0.1471 in the last 52 weeks. It reached an all-time high of US$8.44 on November 25, 2021.

Its maximum and total supply are three billion, and its current circulating supply is 1.14 billion. The token is available on Binance, Uniswap (V2), Gate.io, etc.

Also Read: What is Wrapped Bitcoin (WBTC) crypto and why is it rising?

Gala (GALA)

Gala plans to take the gaming in a whole new direction by providing the controls of the games back to players. It also seeks to reduce the cost of in-game assets and popularize the blockchain games that people “want to play”. It wants to introduce creative thinking in the game by offering innovative in-game assets with the help of blockchain technology.

The token was priced at US$0.2187 at 8:32 am ET on March 18, down by 4.27%, while its volume for the last 24 hours fell 40.01% to US$563.45 million. It has a market cap of US$1.52 billion, and its fully-diluted market cap is US$7.71 billion.

The token saw the highest price of US$0.8367 and the lowest price of US$0.005884 in the last 52 weeks. It reached an all-time high of US$0.8367 on November 26, 2021.

Its total supply is 35.24 billion, and its current circulating supply is 6.98 billion. The token is available on exchanges like Sushiswap, Gate.io, KuCoin, etc.

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Metaverse cryptos: AXS, MANA, SAND, GALA, RNDR

Source: *Data provided by CoinMarketCap.com

Render Token (RNDR)

Render is a dispersed GPU rendering network created on the Ethereum blockchain. It aims to connect the artists and studios that require GPU compute power with mining partners who want to rent their GPU capabilities out. RNDR is an ERC-20 token that the artists in the Render network use to exchange GPU compute powers from the providers or node operators.

The token was priced at US$2.37 at 8:56 am ET on March 18, down 5.76%, while its volume for the last 24 hours slumped 34.14% to US$22.68 million. It has a market cap of US$548.41 million, and its fully-diluted market cap is US$1.27 billion.

The token saw the highest price of US$8.76 and the lowest price of US$0.3491 in the last 52 weeks. It reached its all-time high of US$8.76 on November 21, 2021.

Its max supply is 536.87 million, and its current circulating supply is 231.55 million. The token is available on Binance, FTX, etc.

Also Read: Why is Nano (XNO) crypto soaring?

Bottom line:

Although cryptos promise robust returns, investors should carefully evaluate the digital assets before entering the market, which is often volatile and fraught with risks of online frauds.

Also Read: Why is ECOMI (OMI) crypto gaining attention?

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