Facebook (NASDAQ:FB) the recent rebranding is sparking interest in the metaverse, opening up a new dimension of online interaction that investors can take advantage of. While some love Meta – the future of the social media giant – others want something a little more decentralized. This means that a handful of so-called meta coins are starting to reap the rewards.
Facebook’s rebranding last week to Meta marks a turning point in which Facebook hopes to create the future of social media. CEO Mark Zuckerberg unveiled the company’s plans to bring users into the Metaverse, which is a three-dimensional virtual experience. You can sit in a virtual conference room and meet colleagues from your home, you can attend virtual concerts or teleport to your friends and chat virtually. It’s kind of a sandbox version of reality, where you can do whatever you want.
Rather than letting Facebook dictate the metaverse, it’s clear that many want a more decentralized approach. Through blockchain, users themselves can govern how the metaverse takes shape and evolves over time. The community can also muster all the resources needed to run a metaverse without corporate hands guiding it; operating nodes and application development can be a completely community-based business.
Thanks to Facebook’s rebranding of the metaverse as a concept, investors are now seeking exposure to metacoins – cryptos associated with metaverse projects. By investing in these pieces, buyers give their co-signature to the decentralized vision of the Metaverse.
While the metaverse exists largely in the sci-fi realm, there are plenty of options for investing in its blockchain-based future. Here are three meta pieces resembling the leaders of the peloton:
- Decentraland (CCC:MANA-USD)
- Ankr (CCC:ANKR-USD)
- Infinite Axis (CCC:AXS-USD)
Meta Coins to Watch: Decentraland (MANA-USD)
With these metacoins, investors are exposing themselves to another rapidly growing class of cryptocurrencies, following in the footsteps of games on non-fungible tokens (NFTs). Each presents a different perspective on the metaverse and its contribution.
Decentraland is one of the brightest examples of what a decentralized metaverse should look like. With Decentraland, you can jump into the metaverse right now, create an avatar and enter a three-dimensional social space. The network is fully owned and operated by its users. No company has a say in how the network works or what changes it will bring; it all depends on the users themselves.
Recently, the network has seen great success in linking social interaction and live entertainment with its Metaverse festival. Users could visit and congregate virtually to listen to live music; a variety of artists performed at the event, including electronic dance music producer and festival headliner Deadmau5.
Axie Infinity (AXS-USD)
Likewise, Axie Infinity offers users its own take on the metaverse. The NFT based video game invites users to breed unique creatures to fight against other real players. There’s also an element of metaverse in the game’s top-down homeland feature, where users buy plots of land and commune in virtual cities.
Through gambling, users can also generate real passive income just by playing, allowing some to delve into the metaverse for a living.
Meta Coins to Watch: Ankr (ANKR-USD)
Ankr is not a metaverse game per se, but rather a network interested in pushing Web3 development. Web3, an evolved version of the Internet as we know it, will see the web moved to blockchain. Apps will become faster and more secure, and freedom of speech will be enhanced and uninfluenced by higher powers. As such, it is an important space for the future of the Metaverse; the two industries share common goals and will likely contribute to the success of the other.
With Ankr, users can easily create and manage their own nodes. The nodes can then be deployed on different blockchains. There, users can automatically validate transactions and help better streamline the new decentralized web.
Additionally, a cryptic tweet from Ankr’s founder has many investors speculating that the network could herald a bigger role in the future of the Metaverse.
At the time of publication, Brenden Rearick had (directly or indirectly) no position in any of the stocks mentioned in this article. The opinions expressed in this article are those of the author, subject to the publication guidelines of InvestorPlace.com.