When the cryptocurrency market experienced severe turmoil last year, Metaverse coins and tokens were unaffected. From Decentraland (MANA) to Axie Infinity (AXS), platforms appeared to have maintained a healthy position over the period. MOOKY, an environmentally oriented project, is the newest entry in this market. The question remains how it will compete with other Metaverse-related projects.
MOOKY has the vision to protect the environment using blockchain. Their native crypto asset and a DeFi token, MOOK, will be used to generate wealth for the ecosystem and reward its holders. The company intends to plant over 10,000 trees initially and may increase the number once the desired goal is reached. Additionally, it is a community project that allows its token holders to control its operations.
Non-fungible tokens (NFTs) are an integral part of a Metaverse ecosystem. Web3 or Metaverse games offer their in-game assets including but not limited to digital lots, characters and more. MOOKY NFT The collection offers its holders access to their MOOKY Ventures Club. Club members are entitled to all exclusive benefits.
There are multiple NFT tiers, ranging from common to legendary. Only extremely rare or legendary token holders are eligible to participate in the MOOKY Ventures Club. The project is still in the growth phase and still has to achieve various goals. For example, as part of their “grooming” mission, the team gained half of Telegram members.
Top Metaverse Token
The Sandbox (SAND)
The sandbox is still one of the most popular Metaverse projects today. Users enter a voxel virtual world to play, create, and monetize their Metaverse creations. The game has attracted popular names like Atari, Adidas, The Walking Dead, Ubisoft and more.
Its native token, SAND, is trading at $0.4925 at the time of writing, down 4.27% over the past 24 hours. The project has a current market capitalization of $912.8 million. Additionally, the token traded at its all-time high of $8.44 in November 2021.
Decentraland, an Ethereum-based Metaverse game, is divided into over 90,000 digital land pieces that allow users to create and earn MANA, the project’s native token. Decentraland recently announced that 2023 will be focused on content creators. The platform hosted its second annual Metaverse Fashion Week in March 2023.
MANA has a market cap of $869.8 million and is ranked 5th in the top Metaverse token category. The token has lost over 8% in a week and is currently changing hands at $0.4633.
Axie Infinity (AXS)
The Pokémon-focused game Axie Infinity (AXS) once traded at an all-time high of $165.37 a few years ago. Currently, the native token is trading at $6.7. During the pandemic outbreak, the game gained popularity in the Philippines. When people were struggling with unemployment, the Metaverse game helped people find revenue streams.
The views and opinions of the author or those referred to in this article are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading in crypto assets involves risk of financial loss.