- According to a survey, Metaverse may well grow from a market size of US$61.8 billion in 2022 to US426.9 billion by 2027.
- As of 16 September, the overall market cap of various Metaverse crypto stands at US$11,053,145,333 with a trading volume of US$1,71,433100, according to CoinMarketCap.
Evers since the term was coined, Metaverse has managed to get everyone by its grips. Today, big technology brands are lining up to harness the Metaverse technology in order to cater to business needs. But when it comes to the crypto world, it has found a special liking with several projects being launched on Metaverse and several firms opening their stores in Meta universe. Today metaverse platforms have made their mark on online gaming, content creation, and virtual lands.
Such has been its growth that a survey from MarketsandMarkets reveals that it may well grow from a market size of US$61.8 billion in 2022 to US426.9 billion by 2027. The driving factors expected to drive the growth of the Metaverse are the affordability of the metaverse devices, electronics companies offering XR devices, smart glasses, smart helmets etc.
Widespread crypto adoption in the Metaverse has launched several new projects and are work in progress. So, let's explore the top 3 cryptos by market cap.
An inspired project from the Yuga Labs' Bored Ape Yacht Club, ApeCoin (APE) crypto is primarily an ERC-20 token. The APE crypto allows token holders to participate in its ecosystem, a shared and open currency that can be used without centralised authorities.
APE crypto is the leading Metaverse token in terms of market cap, and as on 16 September, it was trading at US$4.83 with a trading volume of US$21,36,61,261, according to CoinMarketCap.
Market Cap: US$1,361,546,584
Decentraland (MANA) crypto is an Ethereum blockchain-powered virtual reality platform that allows users to create, experience, and monetise content. Decentraland metaverse has gained prominence since several billion-dollar lands were sold on its platform. In the Decentraland metaverse, the users can monetise the purchased plots of land, own non-fungible tokens (NFTs), and participate in a decentralised autonomous organisation of the platform Decentraland DAO.
Decentraland is the second biggest Metaverse crypto in terms of market cap, and as on 16 September, it was trading at US$0.734334 with a trading volume of US $11,04,39,518, according to CoinMarketCap.
The Sandbox (SAND)
Just like Decentraland, SAND crypto is a blockchain-based virtual world that allows users to purchase and sell digital assets in a game. The Sandbox will enable gamers and creators to earn income as play-to-earn crypto. SAND tokens facilitate transactions on its network and can be traded across crypto exchanges.
The Sandbox is the second biggest Metaverse crypto in terms of market cap, and as on 16 September, it was trading at the US $0.867604 with a trading volume of US $18,24,67,732, according to CoinMarketCap.
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