Three Metaverse Coins To Watch In 2023 | Expert Analysis

The fallout of the FTX and Terra Luna ecosystems affected not just 

The crypto sector, but also the metaverse sector. However, experts are optimistic about the metaverse's future, particularly for the metaverse-related coins.

With so many analysts predicting that the metaverse will be the internet's future, it's no surprise that investors want to know about the top metaverse coins to watch in 2023. That's why we've compiled a list of metaverse coins that experts believe will skyrocket in price next year.

Top Metaverse Coins

ApeCoin (APE): Market Cap - $1.35 Billion

No list of metaverse cryptocurrency coins would start without ApeCoin, the native currency of the Bored Ape Yacht Club universe.

In March 2022, Yuga Labs — the company behind BAYC and several other NFT collections, announced that it is working on its own NFT project called "Otherside."

Given Yuga Labs' size and reputation for producing high-quality NFT-based products, the ambition and scope of the Otherside metaverse are exceedingly high.

The Otherside is one of the few blockchain-based metaverses that emphasizes interoperability, combining elements of massively multiplayer gaming with Web3 accessibility to create a bustling and immersive digital world.

The ApeCoin (APE) token is the native transactional unit within the Otherside metaverse and will be utilized as a peer-to-peer currency between users. It will also most likely be required to purchase and/or rent land within Otherside.

Given Otherside's tremendous potential, ApeCoin is a strong contender for the most promising metaverse cryptocurrency.

The Sandbox (SAND): Market Cap - $852 Million

The Sandbox is a virtual gaming world where users may build and monetize gaming experiences. It is one of the most popular platforms on the market, with a hundred deals initiated per minute. 

Players can use SAND tokens within the metaverse to buy digital items and participate in P2E. They will also be able to officially own anything they collect in the game.

The Sandbox is an excellent choice for anyone interested in virtual real estate. SAND's price, just like MANA in Decentraland (another metaverse coin that appears on this list), increased by more than 900% late last year. During the same time period, the platform sold more than $144 million in gross merchandise value. 

Recently, Adidas announced a partnership with Sandbox. Also, SoftBank Vision Fund 2 led a $93 million fundraising campaign for the platform.

Decentraland (MANA): Market Cap - $702.6 Million

Decentraland, one of the first blockchain-based metaverses, debuted in February 2020.

Since then, it has grown to become a sensation in its own right, hosting some of the most popular metaverse-based events, such as the enormously popular Metaverse Fashion Week and Metaverse Music Festival.

By the end of 2021, the platform had 300,000 monthly active users, as well as tens of thousands of LAND owners, many of whom develop their land into unique products, landscapes, and works of art.

MANA, the platform's native cryptocurrency, will be remembered as one of the most profitable metaverse assets of all time. It is still a must-have in any best metaverse cryptocurrencies list.

The MANA token is currently trading at slightly less than $0.4, leaving room for up to 1000% growth to recapture its all-time high of $5.85.

Conclusion

All of these developments have enough intriguing elements to imply that they could be the top metaverse coins 2023 has to offer. However, the question of how many players will be drawn to each platform remains unanswered. This is one of the factors that will decide the level of success in each case.

P.S. This is not financial advice; readers should conduct their own research before making any investment.

Read also: Is Metaverse Really The Future We Want? Lets Talk About Metaverse Adoption!