Good Cryptocurrencies To Buy Now? 4 Altcoins In Focus

Are these Metaverse Cryptocurrencies worth adding to your portfolio?

Last Updated November 29th 2021

7 Min Read

Should Investors Buy These Metaverse Cryptocurrencies Today?

While the broader cryptocurrency market has corrected in the last few weeks, Metaverse coins have rallied. This has a lot to do with Facebook’s move to rebrand to Meta and its founder’s assertions that Metaverse is the future.

The Metaverse is basically a virtual world that mimics the real world. While it was originally designed for gamers, the Metaverse now encompasses pretty much all aspects of life. This is evident in the recent sale of a virtual piece of real estate for $2.4 million.

The Metaverse’s potential is evident in the price action of play-to-earn games and other virtual world aspects this year. Axie Infinity (AXS) stands out among the best performers in the Metaverse space so far. Year-to-date, it has recorded gains of over 1000%.

Many other Metaverse cryptocurrencies have rallied, too, including new and relatively unknown ones. With the growing importance of the Metaverse, especially in gaming, it makes sense to have these 4 altcoins in focus in 2022.

The Sandbox

First on the list is The Sandbox. Sandbox is a Metaverse where gamers can create and sell their creations in an open marketplace. Through Sandbox, anyone with creative ideas can turn them into gaming NFTs and make money off them.

However, it is not just gamers that are set to benefit from the Sandbox Metaverse. Sandbox is also perfect for those who want to capitalize on the fast-growing virtual real estate space. One can create virtual land on Sandbox and turn it into NFTs.

The SAND token powers the Sandbox Metaverse. All NFTs minted on the Sandbox can be exchanged for SAND, which can be exchanged for fiat, other cryptos, or even staked.

The Sandbox has been pumping over the last few days and is up by over 500% in a month. The upcoming launch of Sandbox Alpha is fueling the rally. Alpha is a game on the Sandbox Metaverse designed to give players an unprecedented play-to-earn multiplayer experience.

The excitement around the game has a lot to do with the multiple rewards for anyone turning Alpha into a truly exciting Metaverse. For instance, there is an ongoing raffle for the Alpha Pass that will give the game a chance to participate in18 exclusive aspects of the Alpha. The upcoming alpha launch has driven up the demand for Sand and is likely to remain so all through December. That’s because the Alpha launch and the resultant goodies will go on until Dec 20th.

What’s more, with the recent SAND price pump, a lot more people are now aware of this Metaverse and the potential it holds. This means there is a high chance that Sandbox will draw in even more games, and other NFT launches, further driving up the demand for Sandbox.

The best part, Sandbox has some pretty big names backing it up. Some of the Sandbox partnerships include Atari, a big name in the gaming world, Avenged Sevenfold, and Snoop-Dogg, one of the biggest music names, and an influential social media figure. These partnerships add to Sandbox’s credibility and will help draw in more gamers and game developers long-term.

Aside from that, Facebook’s rebrand to Meta has created a renewed interest in the Metaverse. This could give a boost to Sandbox, especially now that its price has shot up and a lot more people know about it. A highly valued Sand token is attractive to NFT developers and investors looking to make money off speculation and SAND staking.

With the growing interest in Sandbox, do you think SAND is a good cryptocurrency to buy now?

Check Out: The Top 10 NFT Protocols And Tokens

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Decentraland

Following closely is Decentraland. Decentraland is one of the oldest players in the Metaverse space. It launched in 2017 as a platform where users could create non-fungible tokens and sell them on the marketplace.

Since it launched, Decentraland didn’t have much of a price change. In fact between 2018 and early 2020, Decentraland’s price was pretty much flat. However, Decentraland’s biggest price moves have come in 2021, in line with the growing hype around the Metaverse.

One of the reasons why Decentraland has grown so much is its governance structure. Unlike something like say, Facebook Metaverse that a corporation owns, the Decentraland Metaverse is open and can be owned by anyone who wants to be a part of it.

That’s because Decentraland is governed by a DAO that controls the smart contracts for all NFTs on the platform. The DAO also determines fees charged in the marketplace, auction dates, protocol upgrades, and others. To become a member of this DAO, all you need to do is buy MANA, the completely decentralized cryptocurrency that runs the Decentraland ecosystem.

Thanks to its completely decentralized nature, Decentraland has seen a huge increase in adoption by developers who want to control their Metaverse creations. This is evident in the huge number of NFTs that now populate the Decentraland Marketplace.

The biggest of these is a recent transaction where a virtual piece of real estate was sold for $2.4 million. The plot was bought by an organization called Metaverse Group and cost them 618k MANA. This sale has significantly raised the profile of Decentraland and could help drive up the number of NFTs on Decentraland.

The best part about Decentralized is that its circulating supply is close to its total supply. This means that a new supply of tokens won’t dilute MANA’s value in the long run. In most cases, when a cryptocurrency has a low circulating supply relative to its total supply, there is always the risk of value dilution as new coins enter circulation.

All these factors give Decentraland a good short at value appreciation as the Metaverse becomes an important component of internet communication. Considering how important the Metaverse has become, do you think MANA is a good cryptocurrency to buy today?

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Enjin

Next on the list of altcoins to keep in focus today is Enjin. This is an NFT platform that has been around for some time now. While Enjin launched in 2017, there wasn’t much action on this blockchain at the time. ENJ’s price was flat from 2018 to 2020, and most of the gains have been in 2021.

The latest round of gains in Enjin has a lot to do with its entry into the Metaverse space. Earlier this month, Enjin announced that it was setting aside $100 million for its Metaverse, named Efinity.

As part of the Efinity Metaverse, Enjin wants to support early adopters working towards integrating the Enjin wallet into the NFT marketplace and building NFT projects. The Enjin Metaverse also aims to facilitate developers to create a multi-chain environment for easy porting of Enjin NFTs to other blockchains.

Besides the latest investment towards making its Metaverse better, Enjin is one of the few projects already tested and proven in the NFT space. Enjin already has a portfolio of games running on it from as far back as 2018.

Some of the games running on Enjin for a while including Forest Knight, and Kingdom Karnage. With all the hype around the Metaverse at the moment, this is a factor that could draw in-game developers to Enjin in the future.

Even as it moves towards building its Metaverse, Enjin wants to ensure that the process remains decentralized. For this reason, Enjin is running an Efinity Crowd Loan. The rewards are pretty enticing, and 10% of the total token reward has been set aside to reward those who contribute. This is likely to drive the value of ENJ as investors chasing passive gains buy the token.

A combination of a tested and proven network, coupled with a huge investment in the fast-expanding Metaverse space gives ENJ lots of potential going forward. Do you think this is a good time to buy ENJ tokens?

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Binamon

Last but not least on the list of good cryptocurrencies to buy now is Binamon. Binamon is a relatively new play-to-earn game but is gaining traction pretty fast. In this monster Metaverse, players get to create, battle and even sell monsters as NFTs.

Since Binamon launched a few months ago, developers have already created multiple games that are giving players an even richer experience of the Binamon Metaverse. Some of them include Binamon Runner, and Binamon MOBA.

Binamon’s growing popularity also has to do with the fact that even non-techies can profit off BMON tokens. For instance, investors have the option to stake their BMON tokens and earn a passive income from them. This has pushed the number of BMON holders to 67k, quite a feat considering that Binamon is less than 6 months old.

Given that the hype around the Metaverse is only set to get bigger, Binamon is well-positioned to thrive. Its reception since launch is an indicator that it is a play-to-earn platform that gamers and investors alike believe could be the next big thing in the fast-growing Metaverse ecosystem. Would you include BMON in your cryptocurrency portfolio?

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