Best Metaverse Crypto Coins in South Africa 2023 – Pros & Cons

Since Facebook’s rebranding to ‘Meta’ in late 2021, the term ‘metaverse’ has become more prevalent in association with cryptocurrency markets. Metaverses can enhance how people interact through the implementation of crypto projects.

This guide discusses the best metaverse crypto coins to buy in 2022 in South Africa. Additionally, we’ll show you how to buy your chosen metaverse token from an SEC-registered broker.

Best Metaverse Coins in South Africa List 2023

Below you can find the best Metaverse crypto coins for 2023 to invest in.

1. Decentraland – The Best Metaverse Crypto For 2023 In South Africa
2. The Sandbox – The Next Metaverse Crypto Coin To Invest In
3. Axie Infinity – The Metaverse Crypto Coin For Play-to-Earn Gaming
4. Enjin Coin – Cheap Metaverse Crypto Coin With Undervalue
5. Ethereum – De-facto Home Of Metaverse Crypto Coins
6. Render Token – Growing GPU Space Project for Metaverse Platforms
7. SushiSwap – An NFT Marketplace On The Metaverse For Decentralized Exchange
8. Ontology – An Ideal Home For The Metaverse Could Be A Scalable Blockchain Network
9. Wilder World – A Low-Cap Metaverse Coin To Watch in 2022
10. Illuvium – Fantasy Battle Game meets Metaverse

If you’re looking to invest in cryptocurrency, you’re likely to look at metaverse crypto. Here are 10 top metaverse crypto coins in South Africa that we think represent the top ten projects listed above.

A Closer Look at the Best Metaverse Coins to Invest in

Metaverse represents an innovative niche market that is still in its infancy which you can take advantage of by investing right now. Consequently, you will be able to pay a reasonable price for your preferred Metaverse token. Furthermore, you’ll also be able to diversify your portfolio with some of the best long-term crypto investments in 2022.

Here, we look at the 10 best Metaverse coins to buy. Unfortunately, many of the cryptocurrencies listed in this article are also among the most undervalued cryptocurrencies you can invest in.

1. Decentraland – The Best Metaverse Crypto For 2023 In South Africa

The crypto metaverse project Decentraland has frequently made headlines due to its popularity. In addition, the platform’s native token, MANA, gained significant value because of the NFT craze.

As a result, many NFT owners began showing off their NFTs on the platform. The metaverse platform isn’t just NFTs. The primary feature of this site is the ability to buy virtual land.

Sotheby’s luxury goods and art broker built a replica of its London offices in Decentraland. That proves that even large companies are getting into metaverse projects.

Decentraland was founded in 2017, but it has taken time for the project to gain recognition. The market cap of MANA, which is the largest metaverse token by market capitalization, stands at $4.79 billion as of early 2022, despite its lackluster performance. MANA, like many cryptocurrencies, has dropped significantly since January. However, compared with a year ago, it is up 126%.

Your capital is at risk. You should consider whether you can afford to take the high risk of losing your money.

2. The Sandbox – The Next Metaverse Crypto Coin to Invest in

The Sandbox is an impressive crypto metaverse project. Throughout 2021, SAND, the native token of the platform, remained steadily on the rise, finally crossing $1 in the last quarter.

This project embodies the metaverse vision with a VR component. Atari, one of the most prominent gaming brands, supports the Sandbox as a game. Recently, HSBC bought virtual land in its metaverse. In contrast, it is heavily reliant on NFT trading. The SAND metaverse tokens allow players to create NFTs.

The project is based on Ethereum, just like countless others. The limited coin supply of 3 billion tokens, of which 1.14 billion are in use, is another factor that makes the project promising. The project’s market cap is $3.87 billion.

Your capital is at risk.

3. Axie Infinity – The Metaverse Crypto Coin for Play-to-Earn Gaming

It’s closer to the definition of the Metaverse than Axie Infinity, but it’s fundamentally a game. In this play-to-earn metaverse game, the local currency is the AXS token.

Axie’s market cap is over $4 billion, the largest of all the metaverse currencies. However, its performance YTD stands at 26.78%. Investors may not find that encouraging – but the coin has begun gaining value again. An important factor may be the upcoming launch of Axie Infinity: Origin, an eagerly anticipated update that adds features and improves gameplay. Unfortunately, despite the Metaverse’s concept, VR is not yet part of it.

Axies, or characters in Axie Infinity, serve as non-fungible tokens that gamers can buy and trade. In addition, it is possible to breed new Axies through the fusion of two Axies. Axie Infinity also offers virtual real estate, which could attract non-gamers as investors. One plot, for instance, sold recently for $2.3 million.

67% of retail investor accounts lose money when trading CFDs with this provider. 

4. Enjin Coin – Cheap Metaverse Crypto Coin With Undervalue

It differs from the others on this list in that it does not attempt to create a virtual world that includes gameplay features. In contrast, Enjin provides a platform that allows developers to create NFTs for blockchain-based metaverse games easily. With Enjin’s software development kit (SDK), Ethereum-based NFTs can be generated by anyone, regardless of experience level, creating over 1.1 billion digital assets.

Enjin’s ability to create NFTs at any time is one of its most appealing properties. In other words, creators who produce NFTs with Enjin, like digital art, in-game items, or virtual properties, can ‘melt’ their NFT in exchange for $ENJ – Enjin’s native token. While melting values differ between assets, Enjin NFTs will never be illiquid due to their melting value.

After hitting all-time highs in late 2021, the Enjin Coin traded at $4.85. That represents an end-to-end gain of over 28,000%. However, since 2022, Enjin Coin has fallen to just $1.17. As a result, this high-rated Metaverse crypto coin is trading at a substantial discount to its previous all-time high.

Your capital is at risk. You should consider whether you can afford to take the high risk of losing your money.

5. Ethereum – De-facto Home of Metaverse Crypto Coins

All four of the top Metaverse projects analyzed above – Decentraland, the Sandbox, Axie Infinity, and Enjin Coin – are built on the Ethereum blockchain. Furthermore, this is the case with almost every Metaverse project that we came across – so Ethereum must also be considered if you wish to invest in the broader industry.

Ethereum is the world’s leading blockchain for smart contracts, making it crucial for virtual Metaverse worlds to operate in a secure, decentralized manner. Furthermore, Ethereum will upgrade to a proof-of-stake consensus mechanism this year, which could enable even more Metaverse projects.

Ethereum 2.0 will increase the speed and scalability of transactions by a significant amount while reducing fees to near-zero levels. Additionally, Metaverse projects that build their ecosystem on top of the Ethereum blockchain will charge fees in ETH. Therefore, Ethereum is one of the best Metaverse coins to invest in.

Your capital is at risk. You should consider whether you can afford to take the high risk of losing your money.

6. Render Token – Growing GPU Space Project for Metaverse Platforms

We should be clear – Metaverse platforms require a significant GPU space. As a result, some of the leading players in the Metaverse process many transactions every second, increasing the throughput requirements for the underlying blockchain.

This results in ever-increasing transaction fees and sluggish processing times. This is where Render Token comes in – since the project offers a distributed GPU rendering network that all Metaverse projects can use. In 2020, Render Token was launched at $0.05. During that time, it reached a high of $8.76.

Your capital is at risk. You should consider whether you can afford to take the high risk of losing your money.

7. SushiSwap – An NFT Marketplace on the Metaverse for Decentralized Exchange

Next, SushiSwap should be considered. SushiSwap is a popular decentralized exchange that lets users buy and sell digital currencies without relying on a third party. Since then, SushiSwap has grown to a market capitalization of $500 million by early 2022 due to this popularity.

As a result, SushiSwap has transformed its business model into an NFT marketplace based in tandem with the Metaverse. By offering its marketplace on SushiSwap, NFT enhances the NFT trading experience and enables buyers and sellers to transact decentralized.

67% of retail investor accounts lose money when trading CFDs with this provider. 

8. Ontology – An Ideal Home for the Metaverse Could be a Scalable Blockchain Network

Founded in 2017, Ontology is a blockchain project based in China with its proprietary network. According to Ontology, its blockchain can process 4,000 transactions per second and 12,000 in certain test environments. Transaction fees are also as low as 0.05 ONG per transaction. The fee is just $0.02 as of this writing.

Some market commentators believe that Ontology is the most appropriate blockchain network to host Metaverse projects, considering all of these factors. Over the past year, Ontology’s token price has gone from highs of $2.94 to lows of $0.40. However, this means you can invest at a discount.

67% of retail investor accounts lose money when trading CFDs with this provider. 

9. Wilder World – A Low-Cap Metaverse Coin to Watch in 2022

Wilder World is a low-cap gem that specializes in the Metaverse. Users can purchase and build various customized in-game items through the project. Items include land, condos, statues, and more. These will all be represented by tradable NFTs.

As of this writing, the market capitalization of this Metaverse coin is less than $150 million. Nevertheless, Wilder World could be one of the best Metaverse crypto coins to invest in if you want to maximize your upside potential.

Your capital is at risk. You should consider whether you can afford to take the high risk of losing your money.

10. Illuvium – Fantasy Battle Game Meets Metaverse

As the last project from our list of the best Metaverse crypto coins, Illuvium was founded in 2020. Based on an RPG (role-playing game) model, the team at Illuvium has developed an open-world gaming platform. As part of a fully immersive experience, players are tasked with hunting creatures called Illuvial.

Illuvium first released the ILV token in early 2021 at just $68. After seven months, the ILV token reached a high of over $2,800, which equates to a growth of over 4,000%. As a result, Illuvium’s price has dropped to $600-ish, making it an attractive entry point.

Your capital is at risk. You should consider whether you can afford to take the high risk of losing your money.

What is the Best Crypto to Buy in 2022?

If you’re looking to invest in the future of the Metaverse, you should tread carefully. Many market commentators believe that Meta Platforms will dominate this innovative market. As stated earlier, Facebook is now known as Meta Platforms.

Meta Platforms has significant cash reserves to invest in its Metaverse project – but it also has billions of daily active users on its various social media platforms.

Therefore, if you’re looking for the best crypto to buy in 2022, you might consider Lucky Block as an alternative. In addition, as a result of its launch in early 2022, Lucky Block is creating a global lottery ecosystem accessible to players worldwide. Consequently, lottery games will no longer be limited to a nation-by-nation operation.

Additionally, Lucky Block is built on top of the blockchain protocol, and thus all of its games are generated by smart contracts, ensuring their legitimacy and randomness. In addition, as far as price performance goes, Lucky Block is one of the best-performing digital currencies in 2022.

After trading for less than two months in a difficult market, Lucky Block has seen gains of over 6,000%. In addition, Lucky Block currently has a market capitalization of less than $500 million, so there is enormous upside potential for this project.

Cryptoassets are a highly volatile unregulated investment product.

How to Buy Lucky Block

You should follow these steps if you have been researching the technical aspects and fundamentals of Lucky Block and want to include them in your portfolio.

Step 1: Download Trust Wallet

First and foremost, since Lucky Block is a newly launched digital currency that was launched just last month, it is currently available on the Pancakeswap exchange.

To use this popular trading platform, you’ll first need to download a suitable crypto wallet to access Binance Smart Chain tokens such as Lucky Block.

In this regard, Trust Wallet – which is backed by Binance and has a mobile crypto app for iOS and Android – is the most user-friendly and secure option.

Cryptoassets are a highly volatile unregulated investment product.

Step 2: Transfer BNB

The other thing to remember about Lucky Block is that it trades against the leading digital currency BNB. As a result, you will need to deposit BNB from an external source – such as an exchange – into Trust Wallet.

You can also buy BNB directly using a debit or credit card via the Trust Wallet app to simplify the process. In addition, KYC is usually completed in less than two minutes.

Step 3: Connect the Trust Wallet to the PancakeSwap Exchange

The next step is to link your Trust Wallet account to PancakeSwap. To do this, click on ‘DApps’ and then scroll down to find the PancakeSwap icon.

Upon clicking it, you will be asked to confirm that you give PancakeSwap permission to access your account.

Step 4: Paste Lucky Block Contract Address

You can search for Lucky Block by pasting its contract address into PancakeSwap since it supports thousands of tradable tokens.

That can be obtained from the Lucky Block website or the Telegram group.

Step 5: Buy Lucky Block

You can now create an order on Pancakeswap. First, you need to choose the number of Lucky Block tokens you want to purchase. Then, you can enter the entire amount in the relevant box if you want to exchange your entire BNB balance.

The current market price will determine how many Lucky Block tokens you will receive. The next step is to click the ‘Swap’ button and confirm the exchange.

It will take up to two minutes for your newly acquired Lucky Block tokens to be deposited into your Trust Wallet.

Please note that you may also need to paste the Lucky Block contract address into Trust Wallet to view your tokens. Click on the ‘Add Custom Token’ button to accomplish this.

Cryptoassets are a highly volatile unregulated investment product.

What are Metaverse Crypto Coins?

Metaverse is a new technology that lets real-world experiences be experienced in the virtual world. You could, for example, walk around a virtual replica of your local town and see your neighborhood in 3D.

Metaverses might also contain virtual shopping malls that allow you to browse real-life goods and make purchases without ever leaving your house. On the other hand, it is important to note that the Metaverse is not limited to cryptocurrencies and blockchain technology.

Contrary to this, large-cap companies such as Facebook are also pumping billions of dollars into the Metaverse phenomenon.

We like the look of many Metaverse coins, especially considering the current market decline, which offers lower entry prices. Some of the pioneers in this field include Decentraland, the Sandbox, and Axie Infinity, which offer virtual gaming worlds that allow players to explore, chat, and buy digital land plots that can be sold on the open market.

Metaverse products and services can only be bought and sold with the native crypto coin of the platform. Therefore, by investing in the native token of your chosen Metaverse project, you stand to gain financial gains if the token’s value rises.

Are Metaverse Coins a Good Investment?

Read this section if you doubt whether Metaverse crypto coins are a good investment for your portfolio. Before you invest any capital in Metaverse tokens, we discuss a few of the most important factors.

The Metaverse is Open to All

A primary concept behind the Metaverse is that all virtual worlds will be accessible. In other words, you can watch a movie in a New York cinema or go to a nightclub in Rio de Janeiro without ever having to leave your home.

Because of this, the Metaverse will not be subject to jurisdictional restrictions. Therefore, the global demand for Metaverse projects could be quite large.

Virtual Real Estate

In the Metaverse, platforms such as Decentraland and Sandbox have introduced a new and innovative concept of purchasing virtual lands and then building real estate.

Moreover, Metaverse real estate and land projects have already proved the concept, as they sold hundreds of millions of dollars in 2021 alone.

In late 2021, for example, an investor purchased 100 virtual islands via Sandbox for a whopping $4.2 million. Afterward, the investor built villas on each island, with 90% of them selling out on the first day for $15,000.

• The result is that you can profit from the best Metaverse crypto coins in two ways.
• Initially, you may want to purchase the native digital currency of the project, such as Decentraland’s MANA or the Sandbox’s SAND tokens.
• After that, you might consider buying some virtual real estate and building your properties to sell them.

Metaverse crypto projects offer endless possibilities.

Many Low-Cap Metaverse Crypto Coins With Attractive Upside

This industry is still in its infancy is another reason you might consider adding the best Metaverse crypto coins to your portfolio. Thus, the collective market value of digital currencies within this industry remains low.

Currently, you can buy just under 200 Metaverse crypto coins on CoinMarketCap. However, among the projects on this list of Metaverse crypto coins, less than 10 have a market capitalization of more than $500 million.

Most Metaverse cryptocurrencies are valued at less than $100 million. So if the Metaverse takes off, you can invest a small amount of money in a company, and if it does, the upside potential is huge.

Diversification is Easy

The ability to create a diversified portfolio is another advantage of investing in Metaverse crypto coins. Consequently, it will be crucial to determine which Metaverse projects will dominate the market in the coming years.

Thus, if you use the regulated brokerage site Binance, you might consider adding a variety of Metaverse coins to your portfolio since you only have to invest $10.

Keep an Eye on Meta Platforms

As stated several times in this guide on the best Metaverse coins to purchase, the risk factor of Meta Platforms must be considered.

The social media giant has an estimated $50 billion in cash reserves alone, which means it can dominate the entire Metaverse ecosystem. Even more relevant is that Meta Platforms, which comprise Facebook, WhatsApp, and Instagram, have billions of daily active users. That means it already has a consumer marketplace – which could be a problem for crypto-centric Metaverse projects.

You might consider adding some of the best Metaverse crypto coins to your portfolio – alongside some Meta Platforms stock.

Metaverse Crypto Price

You might have noticed a common denominator from our analysis of the top 10 Metaverse coins for 2022. The value of Decentraland, the Sandbox, Axie Infinity, and the many other Metaverse coins discussed in this article all reached all-time highs in November 2021 before falling.

This is because the broader cryptocurrency market is cyclical. Because of this, Metaverse coins are prone to experiencing strong pricing swings when the broader market is performing well.

Meanwhile, the exact opposite will occur when the markets experience bearish periods, which means even the best Metaverse coins will lose value. Once again, it would help if you were reminded that cryptocurrency prices are largely influenced by hype and speculation.

Best Platforms to Buy Metaverse Coins in South Africa – Step by Step Guide

To figure out where to buy the best Metaverse crypto coins today, you need to know the project’s status you want to invest in. For example, some of the best crypto exchanges in the space host metaverse coins with large market capitalizations.

To get the new Metaverse cryptocurrency, you might need to use a decentralized exchange like Pancakeswap.

OKX- The Newest Platform To Buy Metaverse Cryptos

The first choice for purchasing the best metaverse cryptos in South Africa is OKX. As a blockchain-based exchange, it offers a wide array of cryptocurrencies. All traders find it appealing due to its educational material and advanced trading tools.

The platform keeps all metaverse coins cold, which ensures complete safety for your coins. In addition, the platform charges a 0.8% commission on every trade. It also offers a wallet that features more than 600 cryptocurrencies.

Using the platform’s app will ensure that you are always connected to the live market, so you will know which coins to buy if you want to know which are the best coins in the metaverse. Following the website, it aims to make it easy for everyone to trade, and there are no barriers. You can create an account within a few minutes using its easy-to-use interface.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

How to Buy Metaverse Coins in South Africa – OKX Tutorial

The following section of our guide will show you how to buy top Metaverse coins by market capitalization in less than five minutes at home.

Step 1: Open a OKX Account

Registering an account with OKX is the first step for all regulated trading platforms. First, you need to enter your name, email address, and mobile phone number. Next, enter your residential address, birth date, username, and password.

You will have to upload some ID to finish the registration process. Select a passport or driver’s license, and your document will be verified instantly.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Step 2: Deposit Funds

OKX not required a minimum deposit to buy metaverse crypto coins. The company does not charge fees for USD deposits.

Using a debit or credit card is the fastest method to deposit funds, as it is processed instantly. Alternatively, you may fund your account with a domestic bank wire, ACH, or an eWallet.

Step 3: Search for Metaverse Coin

Use the search bar at the top of the screen to find the metaverse crypto coin you want to add to your OKX portfolio.

We are searching for Axie Infinity in our example. First, select the metaverse coin you wish to buy by clicking the ‘Trade’ button.

Step 4: Buy Metaverse Coin

You will now see an order box for the metaverse coin you want to purchase. Select the ‘Amount’ box and enter the amount in US dollars you wish to invest.

A typical investment on OKX starts at $50 regardless of what the token is trading for at the time of purchase. Click “Open Trade” to confirm your metaverse investments.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Conclusion

Throughout this beginner’s guide to metaverse crypto coins, we covered the fundamentals of how this niche blockchain sector works – the future potential and dangers to consider. We’ve also included an analysis of the best metaverse coins available.

We found that Lucky Block is the best crypto to buy right now in terms of upside potential, not least because its innovative blockchain-centric lottery platform will result in its token rising by over 6,000% by 2022.

Cryptoassets are a highly volatile unregulated investment product.

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