The market for non-fungible tokens (NFTs) is hot in 2022 and can represent great profit opportunities.
According to recent data from Arcane Research, there are three tokens on the market with great potential for this: Mana, from the Decentraland metaverse; AXS, from the play-to-earn game Axie Infinity; and SAND, from The Sandbox metaverse.
Although these cryptocurrencies are already widely known, the analysis pointed out that they are undervalued after the correction that hit the market in recent weeks.
The Sandbox (SAND)
The first project to look out for is The Sandbox (SAND), a metaverse platform that allows individuals to create, own and play in the virtual world.
In addition to having made important partnerships recently, people are buying more and more properties in Sandbox.
According to nonfungible.com, the platform has sold more than $404 million worth of virtual real estate.
The current price ($4.79) of the platform’s native token, SAND, is 46% below its all-time high of $8.44 reached two months ago, indicating that the crypto asset still has room to rise.
The second project mentioned is the already popular Decentraland and its native token MANA. The platform consists of an advanced metaverse project within the cryptocurrency industry.
According to data from nonfungible.com, the platform has sold over $184 million worth of virtual real estate. In that sense, Decentraland is second only to The Sandbox.
Users of MANA token allows them to buy land as NFTs where these non-fungible tokens can be sold when the price increases in the secondary market.
Currently, the price of MANA is 44% below its $5.90 ATH registered about two months ago. At the time of writing, MANA is changing hands at $3.31.
Axie Infinity (AXS)
Finally, the last project on the list is Axie Infinity (AXS), which has lost popularity in recent weeks. But Axie was once the “darling” of the market.
It can be said that Axie helped pave the way for the popularization of play-to-earn games. After the rise of the game, creators and gamers began to focus on projects called GameFi.
This platform allows players to create, upgrade, battle and trade “monsters” called Axies. In addition, it allows players to earn for playing.
According to nonfungible.com, Axie Infinity has already moved a staggering $3.56 billion in volume.
The price of the platform’s native token, AXS, is currently 58% below its all-time high of $165 recorded about three months ago. At the time of writing, the token is priced at $69.55.