What Is Metaverse Coin and Metaverse Land? How Can They Be Bought?

Metaverse cryptocurrencies are a subset of cryptocurrencies that enable users of blockchain-based virtual worlds to trade digital assets such as virtual land, real estate, or avatar items. Blockchain-based metaverse platforms create and launch a variety of cryptocurrencies to support the virtual world they have built. These cryptocurrencies created by metaverse platforms are referred to as metaverse coins or metaverse tokens.

Metaverse tokens can be used for trading on the respective platform, including non-fungible tokens (NFTs), which generally give users ownership of items. Some metaverse coins also function as governance tokens. Similar to all cryptocurrencies, metaverse cryptocurrencies are known as high-risk investments. Therefore, investors or users should conduct thorough research before adding metaverse crypto to their crypto portfolio.

What Are the Most Popular Metaverse Coins?

ApeCoin (APE)
Internet Computer (ICP)
Stacks (STX)
Decentraland (MANA)
Theta Network (THETA)
Axie Infinity (AXS)
The Sandbox (SAND)

ApeCoin (APE)

APE has a market capitalization of $1.8 billion. ApeCoin is one of the newest metaverse coins on the market. It is designed to power the growing ecosystem around the Bored Ape Yacht Club (BAYC), one of the most popular and successful NFT art collections.

ApeCoin will be distributed as an airdrop to every Bored Ape NFT holder in March 2022, aiming to capitalize on the popularity of these valuable apes. APE's main goal is to solve voting and governance issues and actively transact within the APE metaverse.

Internet Computer (ICP)

ICP has a market capitalization of $1.7 billion. ICP is a digital token that allows users to create web-based applications, websites, and other online services. Internet computer was created and developed by the Dfinity Foundation. ICP's main goal is to replace the centralized internet that everyone knows well with a decentralized alternative. Launched in May 2021, ICP also aims to change the current order by providing users with a more inclusive and open-source internet experience.

It aims to realize this vision through smart contracts, enabling improved speeds at low computational costs.

Stacks (STX)

STX has a market capitalization of $1.3 billion. Stacks (STX) are regulated by the Proof of transfer consensus mechanism and are a first-layer blockchain that connects to Bitcoin's blockchain network. The main goal of Stacks is to bring Web3 decentralized applications (dApps) and smart contracts to Bitcoin. In other words, STX enables transactions to be performed on the Bitcoin blockchain network.

Stacks was founded by some venture capital funds. Examples include those at Winklevoss Capital, Y Combinator, and Digital Currency Group.

Decentraland (MANA)

MANA has a market capitalization of 1.2 billion dollars. Decentraland operates its repository of the entire metaverse. Decentraland is a virtual reality (VR) platform powered by the Ethereum blockchain network. MANA is the digital asset token used to pay for goods and services on Decentraland. It was created on the Ethereum blockchain network using the ERC-20 standard.

Theta Network (THETA)

THETA has a market capitalization of $1.14 billion. Theta network is a blockchain built specifically for video streaming. Its main goal is to centralize video streaming by operating a peer-to-peer video distribution network. THETA is the governance token of the Theta network blockchain protocol. Companies such as Google and Samsung stake THETA tokens to become validator nodes.

THETA was first created on the Ethereum blockchain network under ERC-20 standards. However, it was later launched on the Theta Network in 2019.

Axie Infinity (AXS)

AXS has a market capitalization of $1.09 billion. AXS is built on the Ethereum blockchain network and is a governance token created for the Axie Infinity game. Users playing the game can fight for Axies, collect and upgrade items, and build a land-based kingdom.

The Sandbox (SAND)

SAND has a market capitalization of $1.02 billion. The Sandbox is a virtual world with native tokens for transacting through in-game digital assets. SAND can be earned and spent within the Sandbox ecosystem. SAND refers to a digital asset that can be used as a medium of exchange in in-game transactions and is also used to buy LAND tokens. It can also be used to have the right to vote in decisions related to the governance of the platform.

How and Where to Buy Metaverse Coins?

Metaverse coins can be bought and sold like any other cryptocurrency. Generally, metaverse coins can be bought through cryptocurrency platforms.

To trade and store Metaverse coins, a cryptocurrency wallet must be created. Once the cryptocurrency wallet has been created, a cryptocurrency platform where you can buy Metaverse coins should be selected. An account must be created on the chosen cryptocurrency platform. Some platforms may require an authentication process. After the account creation and authentication process, cryptocurrencies or fiat money must be deposited into the account. The funds deposited into the account can then be used to buy the selected metaverse coin. Once the metaverse coin has been bought, the coin should be withdrawn from the platform and transferred to the cryptocurrency wallet. This is because it is important to securely control metaverse coins and this is done through cryptocurrency wallets.

What Is Metaverse Land?

The metaverse is a virtual world that allows users to create various digital assets and buy them through metaverse coins and cryptocurrencies. Similar to the real world, the metaverse consists of digital spaces, and these digital spaces are represented by NFTs on the blockchain. These NFTs give full ownership rights to the people who hold them.

Metaverse lands are recorded on the blockchain through NFTs, which represent digital assets. These lands can be bought with metaverse coins, which are usually cryptocurrency. Users can buy land they wish to own on the metaverse platform for a certain amount of metaverse coins.

Metaverse lands are also considered one of the most lucrative investments in the metaverse ecosystem. It is because they represent strategic assets that appreciate value over time, just like in the real world. Users can buy, sell, or lease them, allowing them to earn passive income on their investments. Each metaverse consists of a limited number of lands with a fixed size. For instance, the Decentraland metaverse consists of 90,601 (16m x 16m) lands, while the Sandbox metaverse consists of 166,464 (96 x 96) lands.

Users can build by populating lands with digital assets such as buildings, vehicles, and 3D objects and generate income by renting these assets.

What Is the Relationship Between Metaverse Land and Metaverse Coin?

Metaverse land and metaverse coins form an economic system that interacts with each other. Using Metaverse coins, you can buy land and sell land to other users. These transactions enable the transfer of virtual property between users and their economic activity.

The relationship between metaverse land and metaverse coins enables users to participate in economic activities within the metaverse and create value in the virtual world. Metaverse coins represent a value within the platform and can be used as a measure of economic transactions between users.

Why Is Metaverse Land Preferred?

There are many reasons why users prefer to buy Metaverse land. By buying land in the metaverse, users gain ownership in the virtual world. This gives them the same sense of ownership and control over a digital asset as in the real world. Metaverse lands allow users to create, organize, design, and showcase their digital content. Users can develop virtual events, games, artwork, and other digital content in their lands. This provides an opportunity to interact with other users and share their creativity. Users can also buy land in the metaverse and trade on it or use it to create business opportunities. By owning property in the virtual world, users have the potential to generate income by creating an economic system in the virtual world.

How to Buy and Sell Land on Metaverse?

Buying and selling digital assets on the Metaverse is easy. Most metaverse platforms can be easily accessed via a desktop computer, making it very easy to review virtual real estate before making a buy decision.

The first step to buying metaverse land is to choose a metaverse platform. Platforms such as Decentraland, Somnium Space are examples of platforms where metaverse lands can be bought and sold. Once the platform is selected, the user registers on the platform and creates a user account. He/she should then research the metaverse lands he/she intends to buy and examine the lands with the features he/she wants and compare the prices. It should be noted that metaverse land prices can vary greatly depending on land size, location, and other factors. As the last step of the buying process, the user should follow the instructions provided to carry out the buying of the land with the features they are looking for. Usually, the NFT on the land is added to the cart, the payment is processed, and then the transfer of the land to the cryptocurrency wallet should be ensured.

To sell land on Metaverse, an NFT should be created for the land to be sold by following the instructions of the platform or NFT creation services. The price of the land should be determined based on the location, size, characteristics, and demand. A sales channel should be selected for the sale of the land. The land should then be listed on the sales channel.