Today, many cryptocurrencies associated with metaverses have taken off completely. This is a space that has received a tremendous amount of attention right now. As it turns out, investors seem to be very fascinated by the potential disruption that various blockchain networks provide in this regard.
As of 11:30 ET, decentralization (CRYPTO: MANA) rose 14.5% sand (CRYPTO: sand) Gain 5.5%, and strange worlds (CRYPTO: TLM) It was up 4.2%.
At least part of the price action today among these cryptocurrencies can be evidenced by a sea of green on the cryptocurrency charts. Investors seem to be taking a risk-taking approach to growth today, with many over-growth sectors trading higher. Almost all stocks or cryptocurrencies associated with the Metaverse are seeing impressive price action as traders seem to have identified what looks like sustained momentum trading.
The stock charts on Decentraland, The Sandbox, and Alien Worlds all look exactly the same over the past month. The move in late October/early November backed by big moves from various major tech companies to target the Metaverse appears to be the root cause of this bullish momentum.
Over the past month alone, Decentraland, The Sandbox, and Alien Worlds are up 419%, 454% and 35% respectively at the time of writing.
Each of these three metaverse-related cryptocurrencies power many online games. Each is based on, or at least associated with, Ethereum blockchain in some way, and allows users to monetize their experience by collecting in-game cryptocurrencies or non-fungible tokens. As such, these games have become very popular, especially in low-income countries where it has been reported that users can earn a living by playing these games.
Accordingly, there is not only a metaverse catalyst that supports these tokens. Instead, investors seem to love the tool that is created for users, and the commitment that these network crypto games provide.
The metaverse happens to provide a fairly wide range of investment opportunities for those seeking growth. Currently, the crypto world is one of the main places that investors go to to get amazing returns.
There is certainly a strong thesis to be made for these tokens. After all, there is a real benefit being created for users. Whether the online game is blockchain-based or not does not matter to the end users. If the experience is equally good, and there is some potential money to be made by playing the game, it is easy to see why the growth trajectory for these different tokens can be enormous.
Of course, like all cryptocurrencies, each of these metaverse-inspired tokens carries a significant amount of risk. However, it now appears that investors have decided the risk is worth the reward. Accordingly, MANA, SAND, and TLM are three tokens to watch in the coming weeks.
This article represents the opinion of the author, who may disagree with the “official” recommendation position of the Motley Fool Premium Consulting Service. We are diverse! Asking about an investment thesis — even if it’s our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.