Best Metaverse Coins Which Could Benefit From Facebook Rebrand

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Last Updated on 3 November 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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Facebook ‘s transition to a metaverse company could give a boost to crypto tokens whose companies have already started building and developing the technology.

Even Microsoft CEO Satya Nadella wanted to get in on the action and claimed that the company founded by Bill Gates would also be entering the space. Unfortunately for both of them both Mark and Satya are no Steve Jobs when presenting their future plans.

Meanwhile, we take a quick look at the coins in focus as Zuckerberg steers global investors towards virtual worlds, online gaming with NFTs and currencies that could find future use in these e-commerce platforms.

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Decentraland (MANA) (up 250% in week)

DeFi coin Decentraland (MANA) rallied massively after Facebook’s announcement. The coin, owned by blockchain platform Decentraland (which has its own virtual universe), is betting big on virtual meeting platforms and has been working on metaverses of its own for a while.

The fact that Wall Street legend Barry Silbert already pointed out on 28 October that the coin would profit from the Metaverse coin hype was a clear sign of things to come. It is unclear whether the rally will last but expect global coverage on all things meta to continue in the next few days and weeks as Facebook rolls out their plans.

Axie Infinity (up 6% in week)

CryptoTips pointed to the possibility of a price explosion for Axie Infinity back in July already, when the coin traded at around $17.

The blockchain-based trading and battling game allows players to collect, breed, raise, battle and trade token-based creatures known as Axies, all in virtual worlds (or metaverses if you will). It has since exploded in popularity and is likely to get another boost from Facebook’s announcement.

Enter November and you see that you can now purchase the massively popular coin for $139. Because of the high valuation already, Axie didn’t jump in the past week, but of course it has a good lead on the others already.

The Sandbox (up 240% in week)

Softbank, the Japanese investment firm, is known for picking winners. It was an early investor in companies like Uber, Bytedance, Doordash and Didi. For the sake of argument, I have to admit they also poured a lot of cash into WeWork, but hey everyone can make mistakes right.

Yesterday, they admitted a $93 million funding round into The Sandbox, an Ethereum-based online world. The coin soared in response and is expected to do well in the future if it can live up to its promise of continuing to create online metaverses.