The metaverse and cryptocurrencies are the most exciting yet confusing things anyone discusses. There's a lot of talk about the metaverse, and some people are excited about investing in this new world. In this blog, I look at how the stocks available to invest in the metaverse and what cryptocurrencies are the most widely used for anyone curious.
4 Ways to Invest in the metaverse
As technology around cryptocurrency changes, the metaverse provides new ways to invest in these innovative new products. Below is a list of the different companies and the stock exchange where it's available:
Meta Platforms Inc (NASDAQ: FB)
Facebook underwent some major rebranding as of October 2021, changing its name from Facebook Inc. to Meta Platforms Inc. Since then, it has repositioned itself as a virtual reality platform known as Horizon Worlds, giving users to interact with a VR headset.
Roblox (NYSE: RBLX)
The world of Roblox is a metaverse platform that allows gamers to develop and share their world with other users. Developed way back in 2006, there are now 9.5 million independent developers, another 24 million unique digital experiences, and a whopping 49.4 million daily users. Even with a 35% increase yearly, this company has yet to profit.
Boeing (NYSE: BA)
Boeing, the plane manufacturer, is looking to use the metaverse to help expand its production capabilities. During an interview with Reuters, Greg Hyslop, Boeing's Chief Engineer, stated that the airplane manufacturer wants to create a unique digital environment where people, computers, and robotic employees can work together.
Microsoft (NASDAQ: MSFT)
Microsoft, one of the biggest companies in the world of tech, is working on making its metaverse for its employees. An add-on for Microsoft Teams, Mesh, is set to be released in 2022. This feature will make video conferencing more accessible and allow users to craft their personalized avatars in a 3D world using a VR headset. This project is on pause due to a lack of strategy and unified vision, Business Insider has found out.
Cryptocurrencies for the Metaverse
The metaverse works off of a specific digital token for trading, exchanging back into money, or purchasing at any time. Users can then take these tokens to buy land, outfits, or anything they wish within the metaverse. Below is a list of the top four cryptocurrencies to use within the metaverse:
Decentraland (MANA)
Decentraland (MANA) has a market cap of $6 billion. This token is designed to power the metaverse and is a medium of exchange (digital money).
Axie Infinity (AXS)
Axie Infinity (AXS) allows users to buy digital goods or services, known as a governance token (giving users voting power to decide the future rules and goals within the blockchain architecture).
The Sandbox (SAND)
The Sandbox is about user-generated content, governance, and staking tokens within the metaverse. These tokens are for users who participate in alpha user testing—empoweringEmpowering owners of the tokens to buy goods and services but provide voting rights for future initiatives.
Enjin Coin (ENJ)
Enjin is a blockchain gaming company designed to offer various interconnected play-to-earn gaming experiences. ENJ is unique because it is known as a native token; it's "infused" into every NFT minted within its ecosystem, giving real-world value to each piece.
Hungry for more? Join me each week, where I'll break down complex topics and dissect the latest news within the cybersecurity industry and blockchain ecosystem, simplifying the world of tech.
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