Virtual Reality (VR) has penetrated the blockchain space, paving the way for the creation of immersive games, metaverses, and unparalleled virtual experiences in multiple niches.
These projects are supported by leading crypto assets that have gained significant traction in the past few months. This guide looks into the top VR coins to buy. It also explores the parameters we have used to find our top picks.
Top VR Crypto Coins To Buy In 2024
If you are considering VR cryptos, here is our list of the top VR cryptos coins to purchase:
- 5th Scape – A VR-exclusive platform powered by the 5SCAPE token. Features multiple forms of media leveraging virtual reality, including VR games, VR movies, and VR education. It has a total supply of 5.21 billion.
- Somnium Space – Somnium Space is a project that is creating an open and social metaverse. It is a self-sustaining virtual world backed by its economy and native token. Users in this metaverse can explore the marketplace, play games, immerse themselves in social experiences, and can even own virtual land. This metaverse can be accessed from any device, with major headsets like HoloLens 2, Oculus, etc.
- Meta Hero – Meta Hero claims that it is not the future of the metaverse but the present. This crypto project has developed a virtual scanning technology that will find real utility in industries such as e-commerce, healthcare, and gaming. Users can get a VR scan of themselves and have a clone copy of their appearance in the virtual world.
- CEEK VR – CEEK VR, with its in-house headset and app, is another virtual reality crypto project that is worth your consideration. Unlike the ones listed above, CEEK VR is a small metaverse project that hopes to tie the loose ends between content creators and content consumers. In this metaverse, both creators and consumers can easily find each other.
- Decentraland – Decentraland’s roadmap highlights that one of its important goals is to adapt VR for its metaverse fully. The Decentraland project is powered by the Ethereum blockchain technology. In this virtual reality world, users can create content and applications and earn income from them. Users can even invest in virtual land and enjoy their ownership.
- Highstreet – Highstreet is shaping up to be a multifaceted metaverse that combines two powerful industries- retail and gaming. This VR crypto project is pioneering a metaverse marketplace where physical products from high-end brands will be sold as NFTs. Thus, it is leading the way for new meta-lifestyles. This metaverse is also built on the Ethereum blockchain technology.
- Ethereum – Ethereum is a powerful blockchain technology that facilitates many projects. Ethereum offers a peer-to-peer network, robust structure, security, flexibility, and speed to the crypto metaverse being hosted on this blockchain. As a result, more and more VR crypto projects are adopting the Ethereum blockchain to conduct their operation. This will help to maintain a high demand for Ethereum in years to come.
What Is VR Crypto?
The combination of blockchain technology and crypto projects is ushering in a new era of Web 3 that promotes digital experiences. As a result, more and more crypto projects are committing to be Web 3 compatible and thus incorporating VR to provide their users with virtual worlds and metaverses with unprecedented freedom and experiences.
These stimulated environments may be specifically designed to serve a certain purpose. For instance, some metaverse projects may allow users to earn by playing games. Some may allow users to create a virtual city from scratch and enjoy ownership as it flourishes and expands. While in others, users can socialize with the community and shop in an NFT marketplace.
Check out our list of the best Web 3 crypto projects around.
However, these metaverses and virtual worlds cannot survive on their own and would need a self-sustaining economy that could only be run by cryptocurrencies. Each metaverse project ideally has a native token that runs its economy and provides special grants or perks to its users. A crypto token or coin that enables users to explore, transact or enjoy experiences in a metaverse could be termed a VR crypto token.
For example, in the crypto project Decentraland Metaverse, users with its native tokens MANA can purchase virtual real estate. In projects like Metahero, users who book for a scan can earn rewards in the form of its native token HERO. The token also grants voting rights and access to exclusive content and facilitates revenue sharing.
Check out our list of the best metaverse tokens of 2024.
Top VR Crypto Projects To Buy Now
Here is our review list of the best VR crypto projects to consider:
5th Scape – A VR Exclusive Platform Offering Hyper-realistic Entertainment on Blockchain
The leading VR crypto that has gripped the imagination of the crypto community is 5th Scape. Presenting players with a hyper-realistic platform featuring VR games, VR headsets, as well as ergonomically designed gaming chairs, 5th Scape is one of the most complete VR platforms that could redefine blockchain gaming.
When it comes to games, 5th Scape has put a unique emphasis on sports titles, letting players enjoy everything from MMA 3D to Soccer 3D. Playing these games is possible using the ergonomically designed VR headset that the official whitepaper states combines cutting-edge visuals, ergonomic design, and advanced tracking technology.
5th Scape has also put some emphasis on comfort, providing players with gaming chairs for extended VR sessions.
In addition to providing platforms for gamers, 5th Scape also features developers tools to help creators craft their own VR experiences for the masses.
Powering this cryptocurrency project is the 5SCAPE token. It has a total supply of 5.21 billion, and its utilities include buying exclusive in-game features from the ecosystem. Developers can earn 5SCAPE tokens through the sale of their games.
Through its unique blend of physical and digital features, 5th Scape is one of the more unique VR crypto projects on the market. It is currently available as a multi-staged presale and has already raised upwards of $800k to date. Those who are interested can visit 5thscape.com for more details.
Somnium Space – Established Virtual Reality Metaverse Compatible With Major VR Headsets
The first VR crypto project on our list is Somnium Space. This project was founded way back in 2018, and thus, one can say that the project leveraged the crypto-backed metaverse idea when it was still very new. This indicates the project’s futuristic thought process.
According to its website, Somnium Space is an open, social, and persistent metaverse. It allows users to explore and socialize freely. Users in this metaverse can invest in land and use its in-built tools to design a virtual real estate project.
This VR crypto project has its native software but it is only available as a Window application. The metaverse is also accessible from a standard browser without any issues. Nevertheless, the website of Somnium Space lacked the sophistication and aesthetic quality that one expects from a virtual reality project. On the other hand, the project is compatible with major headsets such as Oculus, Hololens, and HTC Vive.
Somnium Space has collaborations with leading companies like HTC, Sony, High Fidelity and JanusVR. Apart from Ethereum, the project also uses Poygon and OpenSea blockchain. The market capitalization of this project is around $11 million.
Metahero – The Best VR Crypto Project WITH Creativity And Innovation
With its one-of-a-kind scanning technology, it is set to revolutionize the metaverse experience. The native token of this metaverse is HERO, which has many real-life utilities.
The in-house scanning technology of Metahero will be able to replicate users’ appearances in the virtual world. Metaverse uses photogrammetry and artificial intelligence to achieve this feat.
In this metaverse, users can book a scan that can be used in the virtual world. Since the virtual appearance will mimic the real person, this technology will find extreme demand in the healthcare sector, retail sector, and even in the gaming world. All the scanning payments can be made using its native token, HERO.
Virtual e-commerce stores do not have a fitting room, but with virtual appearances, users will be able to see how they fit and look on certain clothes and accessories. Healthcare practitioners will be able to provide user-specific exercises and diagnoses based on these virtual look-like appearances. Similarly, in the gaming world, a user can play as themselves and enjoy the games better.
CEEK VR – Immersive Metaverse For Creators With A Native VR Headset
CEEK VR is a VR crypto project that aims to bridge the gap between content creators and users. This metaverse hosts virtual events ranging from sports, education, and music to arts. Thus, it provides a platform where content creators can find a global reach and audience.
The project aims to allow content creators to monetize their art. The native token of this ecosystem is CEEK. All the monetization and rewards in this ecosystem will be paid and earned via the CEEK token. The project has a current market capitalization of over $37 million.
The project is also exposing the investors to another facet of VR which is VR hardware. CEEK VR wants to make the virtual event experiences more immersive for its users and thus it has developed its own VR headset. The project also has a smartphone app that is compatible with both iOS and Android.
Decentraland – Decentralized Metaverse Project With Upcoming VR Experiences
Decentraland is another leading metaverse project that is built on the Ethereum blockchain. According to its website, on this metaverse, users can make new connections, explore and enjoy diverse virtual events, and build their virtual world.
Although we are counting it as a VR project, Decentraland has yet to incorporate full-fledged virtual reality capabilities. As per its roadmap available on its website, Decentraland will use VR for its entire metaverse once VR headsets gain more popularity.
As its name suggests, Decentraland is a fully decentralized metaverse that will be owned, built, and governed by its users. In this metaverse, users can socialize with each other, explore the metaverse, build real estate projects, create content, and buy land. The platform also has a marketplace where users can transact. Users can access the Metaverse via any standard web browser and get started by connecting with a digital wallet like Metamask.
The native token of this metaverse is MANA. Users can use this token to purchase land in Decentraland. They can also use MANA tokens to experience a host of events organized on this platform which range from art exhibitions, and parties, to music concerts. Users can also participate in Decentraland DAO and will have voting rights in all matters of DAO.
If you are a beginner, you can check out our guide to discover how to buy Mana successfully this year.
You can also buy the token on reliable crypto exchanges like Bybit. All you need to do is create an account with the exchange and get started.
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Highstreet – A Multifaceted Decentralized Ecosystem
Highstreet is a virtual reality crypto project which was just launched in 2021. It is building a decentralized metaverse that runs on the Ethereum blockchain. As per its whitepaper, Highstreet is seizing the opportunity to define the next-generation shopping experience.
This metaverse project will allow high-end brands to use the platform and build their virtual storefront on Highstreet. It aims to lure both new and established brands, allowing them to launch their limited edition products as NFTs on this metaverse.
Although the project is mostly focused on a retail plus gaming experience, it still allows people to explore its virtual cities and universes with the help of its futuristic transportation system – Solera Express.
The native token of this metaverse is called HIGH. The token has many utilities such as for all the Highstreet play-to-earn games, its users will earn rewards in HIGH. The users can also use this token to purchase virtual products such as collectibles, homes, and even virtual plots in this metaverse.
Ethereum – Supporting Established VR Cryptocurrencies
Ethereum is the second largest cryptocurrency project. It has already proven to be a worthy alternative and competitor to the king- Bitcoin. Even though Ethereum is not directly related to VR, this token has made our list, and you may wonder why.
The reason for this is Ethereum is a robust blockchain and has been the go-to technology for the majority of VR crypto projects around us. Be it Decentraland, Metahero, Highstreet, or CEEK VR, each of these projects operates on the Ethereum blockchain technology.
Ethereum blockchain technology is advanced and robust. Thus, it offers a peer-to-peer network, flexibility and scalability to these metaverse projects. Due to this dependency of the VR crypto projects on Ethereum, the demand for ETH will always be consistent.
Check out our Ethereum Price Prediction for more details.
All the VR crypto tokens will have to pay a GAS fee in ETH to operate on the Ethereum blockchain. This will create a demand for ETH and thus push its price. Thus, ETH is considered one of the best cryptocurrencies to buy now.
Meanwhile, ETH is available on notable crypto exchanges, including Bybit, eToro, and Binance. For more details, check out our guide on where to buy Ethereum this year.
As Ethereum continues to grow in popularity and adoption, the demand for ETH will shoot up which, in return, will trigger a surge in its value.
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How Did We Pick Our Best VR Crypto Coins
Before building a VR token portfolio, it is important to note which VR crypto tokens are likely to do better in the future. The best crypto token project needs to have a metaverse that fulfills some needs. Apart from that, it must also have a native token and a working model that determines its tokenomics. The best crypto token should also experience consistent demand, which will ensure a good projected ROI.
Let us discuss the criteria that determined the best VR crypto projects that made the list.
Token’s Market Capitalization
Market capitalization is one of the key indicators of how a VR crypto token is performing. It simply means the total valuation of the project, which could be deduced from the total current circulation and the current trading price of the token.
Market capital statistics often lend a picture regarding the size of the company. A larger market cap indicates a more stable and big-sized company with longer business history. This means a safer investment.
However, a company with a micro capital like Metahero ($16 million) provides better advantages. If investors move early on a VR crypto like this, they will set to gain more in the future when it grows in valuation. The price of a low-cap VR crypto project is often affordable, and thus, it allows investors to purchase them easily.
Check out the list of the top low market cap crypto projects you can invest in.
Collaborations And Partnerships
A VR crypto project’s popularity and demand are often associated with its collaborations and networks. Usually, a crypto project’s roadmap list out the details of any future collaboration or plans of partnership. A noted collaboration often adds some weight to the project and makes it seem for trustable.
The project’s tokenomics can also provide a good picture based on whether any fund is set aside for future collaborative projects. This indicates the project’s commitment to growth and expansion.
Utility Of VR Token
VR crypto projects are incomplete without their native token. Thus, every project ideally has a token that runs the metaverse by acting as a medium of exchange. These tokens also provide certain utility to the token holders. The demands of these tokens are directly proportional to their utility. Thus, it is important to note the utility of VR tokens before deciding to buy them.
For example, $CEEK is the native token of the CEEK VR metaverse. The token allows its users to monetize their content. It also grants special access to its holders to exclusive content and events in the CEEK VR metaverse. Another example is the MANA tokens of the Decentraland metaverse. Investors can use these tokens to buy virtual lands and real estate in this metaverse.
Relevance To Crypto VR
A VR crypto project’s actual relevance to VR is another metric that an investor should consider in a project. This could be done by finding out information or news articles on the VR crypto project that one wants to assess.
There are many VR crypto projects out there, but they all deal with virtual reality differently. For example, Decentraland has developed a metaverse where one can transact in virtual lands. Metahero uses scanning technology to clone human appearances in the metaverse and looking to be highly relevant to the e-commerce and healthcare industry. CEEK VR exposes investors to VR hardware by designing their in-house VR app and helmets.
It is an important metric to follow because there have been too many fake projects in the past that talked a lot about VR integration but did no real developments in that direction.
Project’s Sustainability
Another key point to note before investing in a VR crypto token is to assess whether or not a project is sustainable.
This could be learned by reading up about the project. A crypto project’s roadmap and whitepaper often lend an honest picture of the metaverse. Investors should use these resources to know how the project is planning to earn revenue, if its goals are realistic, and how it is planning to create consistent future demand for the metaverse.
Why Invest In Virtual Reality Crypto?
Previously, the virtual reality market only appealed to gamers. Now with the fusion of cryptocurrency and virtual reality, this market started to gain the attention of people from different backgrounds. As a result, the VR crypto projects started to grow and thus hold immense potential for the future.
Let us move on to understand why one should invest in VR cryptos and why there is a buzz about VR cryptos in the cryptocurrency space.
Low-Cost Projects
Virtual reality crypto projects are still emerging and have a long way to go. These companies are, therefore, small and mostly have low-cap valuations.
On the contrary, tech giants who previously monopolized virtual reality technology, like Google, Oculus, and Microsoft, are all large capital companies with exponentially higher valuations.
Because of this cost factor, virtual reality cryptos are a better investment option. They are affordable and thus do not burn a hole in your pocket while still offering all the advantages of VR. That says it is not free of risks.
Offering A Diverse Portfolio
Anyone with a knack for investment would know that diversifying your investment portfolio is crucial. A diversification strategy offers a balance of risk and reward and thus ensures that you do not lose out if one asset fails.
Investments are often subject to volatility and market conditions. Thus, it is wise not to pin all your hopes on one asset but to make different types of assets work to your advantage. This is also true in the VR crypto space.
VR crypto projects have different themes and offer different advantages. They are spread across different niches, which provides enough diversification as needed to offset unforeseeable losses. For example, CEEK VR has in-built headsets and apps. Projects like Metahero are aiming to change the retail, healthcare, and gaming world with its world’s first scanning technology.
A Growing And Innovative market
The traditional virtual reality market is led by some of the best tech giants we know today- Google, Microsoft, Meta, etc. They have paved the way for virtual reality and its uses for the future. As a result, the virtual reality industry is rapidly growing.
Another reason for the growth of virtual reality could be attributed to the advancement of technology. Previously, virtual reality devices were expensive, but now they are readily available at an affordable price. The increased usage of mobile devices, internet connectivity, and expansion of the mobile gaming space all helped the virtual reality market to flourish.
Because of this, investing in a VR crypto project could be a good idea. These projects usually are solely devoted to innovative virtual reality, and thus, investors are likely to get their money’s worth. As the VR crypto market is still young, moving fast will prove to be advantageous for investors.
With the increased popularity of cryptocurrency, VR projects are set to revolutionize the virtual space by offering creative and ingenious solutions to current market gaps.
Check out our guide on how to buy cryptocurrency safely this year.
What Is The Future Of VR In Cryptocurrency?
Metaverse is the transformation of Web2 into a virtual world where users can network, communicate, and grow together in an immersive Web3 space.
Cryptocurrencies, blockchain technology, decentralized finance, and metaverse are all intertwined to further the cause of Web 3. Thus, the progression and growth of Web 3 are likely to propel the scope of virtual reality ahead. As a result, cryptocurrency and virtual reality work like a cycle, one facilitating the other.
The metaverses or the VR world as created by the cryptocurrency projects, will not expand if there is nothing to run their economy. Like fiat currency runs the real world, crypto tokens will run these virtual worlds. Crypto tokens will act as a medium of exchange and store of value in a metaverse. Users with VR tokens can do many things, such as explore the metaverse, do transactions, earn rewards, and buy virtual commodities.
While VR cryptocurrency is important, we cannot deny the fact that this industry is still in its nascent stage. Nobody knows what the future holds for VR. Thus, it is important to weigh the risks before investing.
Conclusion
The growing adoption of crypto has helped to position VR cryptocurrencies in the spotlight. Most VR and Metaverse projects sit on the backbone of cryptocurrencies to deliver an amazing user experience. Don’t forget that users will not be able to enjoy the full extent of a metaverse and immerse themselves in the experience until and unless the metaverse sustains itself.
The utility and demand for VR cryptocurrency remain to take form fully. In such a situation, deciding on which VR cryptos to invest in can be tricky, especially for new investors. The cryptocurrency industry has its fluctuations and occasional downside, and thus it is sometimes better to opt for a low-cap token with plenty of upsides.
That said, the best VR crypto to buy right now is 5th Scape. Its VR-exclusive nature, combined with the physical assets it is trying to bring, such as a VR headset and gaming chairs, indicate that the blockchain space is finally taking VR gaming seriously. Furthermore, its tools are also appealing to VR game developers.
FAQs
What are VR tokens?
Cryptocurrencies that have real utility within a metaverse are known as VR tokens. Users with the tokens can transact in a virtual world, buy virtual lands, earn by playing games, trade in an NFT marketplace, earn voting rights, etc.
Which crypto is used in virtual reality?
There are many cryptocurrency projects which incorporate virtual reality and thus their native tokens are used to explore such metaverse. For example, the token HERO is used in the multi-faceted metaverse of Highstreet. Users holding MANA tokens in the Decentraland metaverse can also purchase virtual lands.
Is Sandbox a VR crypto?
Sandbox is claiming itself as a metaverse that has a blend of fun, style, and freedom. Its native token is SAND which can be used to buy assets, and lands, and earn staking rewards. However, this crypto project does not support VR headsets yet. Thus, it is not a VR crypto.
