We are always in search of cheap cryptocurrencies to add to our portfolios. The two cryptocurrencies that we are considering today are related to the Metaverse.
Top Cryptocurrencies At The Top Of Our List
Top on the list is Axie Infinity. Axie Infinity (AXS) has built a brand as one of the biggest play-to-earn platforms in the crypto space.
There are several factors why we love Axie Infinity. For starters, it has built a brand as one of the best-known Metaverse gaming platforms out there. This is evident in the fact that it has one of the most expensive NFT collections in the market today.
The growing interest in NFT gaming on this platform has seen the value of AXS grow by a considerable margin over the past year. Year-to-date, AXS is up by 10,000%. This makes it one of the top performers of 2021, which was not impacted significantly by the cryptocurrency correction of May this year.
With such a massive increase in value, it’s only natural to wonder, is it too late to buy AXS now? We believe not.
We believe Axie Infinity is right in the middle of one of the next big things in the internet revolution, and that’s the Metaverse. This gives it a lot of room for growth in the long run.
For context, the Metaverse is so big that a major company like Facebook recently rebranded to Meta. According to the company founder, Mark Zuckerberg, the rebrand is meant to reflect the importance of the Metaverse to the company’s future.
This is a big deal and reflects well on cryptocurrencies that already have a head start in the Metaverse, such as Axie. Axie Infinity is also attracting the investments necessary to entrench itself in the Metaverse gaming market further.
A while back, the company behind Axie Infinity attracted $150 million in investments in a Series B funding round. This funding round pushed the value of Axie Infinity to $3 billion. With the capital raised, we expect the Axie Infinity Metaverse to give gamers an even better experience going into the future.
For us, capitalization and market dominance in the Metaverse are part of my strategic reasons for believing in AXS. That said, Axie Infinity has its risks. The biggest one is a saturation of the Metaverse gaming space that could dilute the value of AXS.
That said, with all the hype going on about the Metaverse, I think AXS could be too cheap for us not to buy.
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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Exponential Growth
Our second cryptocurrency that is cheap at the moment is The Sandbox (SAND). Like AXS, The Sandbox is a player in the fast-growing Metaverse space. Now that Facebook has given the masses an idea of how big the Metaverse could be, new entrants in this space have been performing exceptionally well.
The Sandbox has so much momentum at the moment that it’s still green when the rest of the market is in a correction. For context, while most altcoins are down by an average of 10% in the last 7-days, Sandbox is up 119% in the same period.
While such pumps are not new in the crypto space, the Sandbox rise has a fundamental basis to it. The Sandbox is tapping into one of the hottest markets today, and that’s Metaverse gaming.
The potential of this market has been enhanced by the recent entry of Facebook into the Metaverse, and the company’s taunting of Metaverse as the future of social communication.
The Sandbox is tapping into this space by opening the Metaverse to everyone. Between November 29th and December 20th, The Sandbox will be running the Metaverse Alpha. The idea of the Metaverse alpha is to give players a chance to make, own, and take part in the Metaverse character right from the start of the game.
Going into the future, this will play a huge role in driving up the value of the Sandbox. That’s because the characters that gamers are creating and owning can be sold as NFTs in exchange for SAND tokens. With play-to-earn set to become the future of gaming, it is not hard to see why the demand for SAND tokens could keep going up for many years to come.
Then there is the aspect of brand visibility. While many other Metaverse gaming projects have entered the market, few have managed to build a brand presence as big as Sandbox.
Sandbox has grown to become a top 100 cryptocurrency by market capitalization, and that’s good for its growth. That’s because it’s among the Metaverse platforms that new gamers and developers will notice when looking for P2E cryptocurrencies.
Aside from that, The Sandbox has some pretty big names as partners, a factor that could play a role in its growth long term. One of the more famous Sandbox partners is Snoop-Dog, a world-famous artist with considerable influence on social media.
For a relatively new project like The Sandbox, all the above factors make it a cheap cryptocurrency to buy Today despite its current price run.
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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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