The tech space is buzzing with excitement over Web3 – the next evolution of the internet that focuses on improved user control and better data privacy. Investors looking to purchase the best Web3 cryptos can conveniently do so, as several crypto projects have begun harnessing different Web3 concepts.
Below, we have some of the most promising cryptocurrencies harnessing Web3. These digital assets are in a good position to deliver maximum profits.
Lucky Block (LBLOCK)
Kicking off our list of the best Web3 cryptos is LBLOCK – the native token for the Lucky Block ecosystem.
Lucky Block is an online gaming platform. The ecosystem is filled with different game titles, offering access to players who want to make yields. LBLOCK, its native token, was launched to grant access to the ecosystem – in place of traditional tickets from regular gaming platforms.
LBLOCK was launched at $0.00021 in January 2022. In less than a month, the coin surged by over 4,000% to hit an all-time high of $0.0096. Today, the coin trades at $0.0020 – a gain of 7.56% in the past 24 hours.
Besides blockchain gaming, a cornerstone of Web3, the Lucky Block developers have moved into non-fungible tokens (NFTs). They launched the Platinum Rollers Club NFT collection weeks back, offering 1,000 NFTs for sale.
Buyers can enjoy benefits like 10% royalties on all secondary sales and access to a budding community of holders.
With Lucky Block already in the final stages of its mobile app rollout, great excitement exists across the ecosystem. The LBLOCK token also recently crossed 50,000 holders. This achievement shows increasing demand for the asset.
Ethereum is the most popular blockchain in the world. The platform powers most decentralised finance (DeFi) protocols, NFT marketplaces, and other Web3 protocols. While Ethereum has had some troubles in the past, it is still one of the most preferred blockchains for developers.
Hence, ETH is one of the best Web3 cryptos to buy right now. ETH trades at $3,015, up 1.08% in the past 24 hours.
The biggest source of excitement for ETH investors is the upcoming transition to Ethereum 2.0. This transition will make Ethereum a proof-of-stake (PoS) blockchain, and it is expected to address some of the blockchain’s transaction cost and latency issues.
Last week, Ethereum core developer Tim Beiko said that the Ethereum “merge” is expected to happen later this year. The merge is the anticipated amalgamation of the current Ethereum blockchain and Ethereum 2.0. This combination will kick-start a new phase for the world’s leading blockchain.
The Sandbox (SAND)
The Sandbox is currently one of the most in-demand metaverse platforms in the crypto market. There is widespread demand for the platform because more investors and brands are looking to break into the metaverse, and they’re looking for platforms to help them make this happen.
The metaverse accepts and welcomes everyone into its universe. Users can own land, explore the universe, and engage in various activities. JPMorgan estimates that the metaverse will be a trillion-dollar opportunity. The Sandbox, a market leader, is in a good position to take a piece of that market.
SAND, the platform’s native token, is one of the best Web3 cryptos to buy at the moment. The asset trades at $2.79 – an increase of 1.26% in the past 24 hours.
The previous month has been a whirlwind for The Sandbox. With banking giant HSBC looking to break into the metaverse, the Sandbox welcomed the bank into its platform.
The Sandbox also inked a partnership with crypto wallet manufacturer Ledger. Both companies hope to embark on crypto education initiatives as they look to usher in a new wave of cryptocurrency adoption.
Axie Infinity (AXS)
As explained earlier, blockchain gaming is one of the cornerstones of Web3. When it comes to blockchain gaming, hardly any platform beats Axie Infinity.
Axie Infinity is a play-to-earn game that revolves around Axis – digital pets reared and used to battle against other players. Each Axie is an NFT, and they can be bought and sold in the Axie Infinity in-house marketplace. AXS governs the ecosystem – one of the best Web3 cryptos, currently trading at $46.17.
Like The Sandbox, Axie Infinity has had quite an eventful month. The platform’s Ronin Bridge was hacked weeks ago, with the hackers making off with about $600 million. Despite this, Axie’s developers – Sky Mavis – didn’t give up. They quickly raised $150 million in a funding round that Binance led, with the funds expected to go towards rebuilding the Ronin Bridge and compensating the hack’s victims.
Sky Mavis also released Axie Infinity: Origin – a spinoff of the original Axie Infinity game. If anything, this shows resilience in the Axie ecosystem and gives investors a reason not to abandon the game. Axie might be down, but it’s not out.
Chainlink’s LINK token rounds out our list of the best Web3 cryptos. The asset has proven to be a viable investment. Growth in Web3 adoption will only increase the digital asset’s value.
Chainlink is a blockchain oracle. The platform focuses on providing off-chain data to blockchains, aiding their operation. Blockchains would find it near impossible to operate without help from oracles, as they are growing in popularity due to their smart contract functionalities.
In the past 24 hours, LINK’s price has jumped by 1.32%. The asset trades at $13.80, and the market’s recent bullish trend is looking good for a large-cap coin like this.
With Chainlink Labs recently launching an accelerator program for early-stage crypto startups, it has become clear that they’re looking to expand beyond just being a blockchain oracle. The company is now poised to make gains from both the growth in crypto and the broader surge in Web3 adoption.