So, what cryptocurrencies come to mind first when the metaverse is mentioned? Let's examine it together.
Decentraland (MANA)
Decentraland is a popular virtual environment for individuals who want to mix blockchain with digital sociability.
Users create an avatar and can do almost whatever they want. He can communicate with people, play games or visit a virtual casino. Recently, the network has started hosting major virtual music events, starting with the Metaverse Festival.
Users can earn and spend money in Decentraland. Users can request specific plots of land mapped in the metaverse and develop them as they choose. These plots can be sold if desired.
Enjin Coin (ENJ)
According to its latest post, Enjin has ambitious goals to assist initiatives to build a decentralized metadatabase in its ecosystem.
As a result, on November 4, the blockchain-powered gaming platform announced that it has raised a $100 million fund.
The Efinity Metaverse Fund was established to assist metaverse projects at Efinity and encourage development. Together with Polkadot, Enjin has created a blockchain network for non-changeable tokens (NFTs). In particular, the fund will assist companies in developing joint NFT projects on Efinity and Polkadot, which will include assets that can be used across various protocols and chains.
Sandbox
The Sandbox (SAND) currently ranks third among metaverse tokens. Virtual worlds can be created in Sandbox as well as in Decentraland; here developers can create games and sell products, as well as use the platform to connect and have fun with others.
Sandbox users can get the most out of their experience by buying and developing land, just as they do in Decentraland.
The Walking Dead and The Smurfs are among projects that have partnered with Sandbox to promote the game, including singers Snoop Dogg and Deadmau5.
Ethereum Gas Fees Drop
While Ethereum's gas fees and transaction volumes are falling, the network's hash rate is rising. Ethereum's gas fees have fallen over the past five days as the currency's price approaches its all-time high of $4,465 set on Wednesday this week.
The average transaction fee fell to $37.19, marking a 33.5% drop from Tuesday when the average gas fee on Ethereum was $56. On top of that, the network's hash rate continues to soar to new heights. On Monday, Ethereum's hash rate reached 812,769 GH/s. On Wednesday, that figure hit a new high of 821,207 GH/s, according to Etherscan. The Chicago Mercantile Exchange also announced on Tuesday that it will begin trading Ethereum micro futures derivatives in December.
Shiba Inu's Twitter followers have surpassed Ethereum.