The best spot for an intriguing adventure to everything crypto....
These days, everyone is talking about the Metaverse and all its possibilities. It's enough to make you feel like a fish out of the water if you don't know anything about the topic. But don't despair! We got your back with a short overview of the top Metaverse projects. This way, you will be able to join any discussion on the Metaverse and maybe even ace it.
Blockchain technology has brought us numerous innovations over the past decade. The most famous ones are cryptocurrencies, decentralized finance, and NFTs. However, the most recent one regards the promise of a decentralized society with limitless opportunities. Above all, it should engulf us when the Metaverse gains mainstream adoption.
For now, several initiatives are steadily growing in the virgin territories of this virtual space. They rely on complete decentralization, digital real estate, and gamification elements. In a short span, they have already spurred a multi-billion dollar industry. Today, we look at this sector’s front runners and, most likely, the Metaverse powerhouses of tomorrow.
Read on to discover Metaverse projects in 2022 and beyond!
The second entry in our top-5 metaverse projects is Decentraland, one of the earliest inhabitants of the Metaverse. In fact, this project launched in 2016, long before the Metaverse was even a daily conversation topic. Back then, Decentraland was an underdeveloped 2D game with scarce notoriety.
Today, Decentraland is a vast 3D gaming universe with multiple applications and over 300,000 active players. The game enables its users to develop virtual real estate plots, host events, engage socially and create all sorts of content.
Everything appearing in the Decentraland space can become a valuable NFT. The game incentivizes players to create, buy, sell, trade, and stake their non-fungible tokens. For instance, the real estate element, LAND, can sell for up to $ 1 million apiece. Therefore, users can boost their income when engaging with this Metaverse project.
Powering Decentraland is its native token, MANA, an ERC-20 coin part of countless real estate NFT trades. At the time of writing, MANA was trading for $2.52 and had a market capitalization north of $4.5 million.
The Sandbox is another blockchain-based, virtual world running on NFTs and cryptocurrencies. While it lacks Decentraland’s popularity, it is slowly becoming one of the top metaverse projects.
The game works as a "digital sandbox." Users can create assets or environments and buy, sell, or trade them. Furthermore, they can adorn their virtual properties with in-game items and avatar customizations, all in the form of NFTs.
Many see The Sandbox as the creator’s playground of tomorrow. Here, players can create content and benefit financially from it. The only downside to this Metaverse project is that it is not 100% decentralized. That’s because its network depends on Amazon’s AWS Cloud Services.
The Sandbox runs on the Ethereum blockchain and has its own cryptocurrency, the SAND token. At the time of writing, SAND was trading for $3.06 and had nearly $3.4 million market capitalization.
Some call it the Pokémon of Metaverse projects. However, Axie Infinity is much more than that. This rapidly expanding gaming universe features various creatures with unique and valuable traits. Yes, some of them are similar to the traditional Pokémon monsters. Still, the rest of the game has little to do with the famous 1996 video game.
Players have to purchase three Axies, cute, furry animals inhabiting the Axie Infinity universe. Next, they can breed them to create other Axies with unique skills. Also, they can use them in various play-to-earn applications to increase their experience and value.
The Axies are rare NFTs that users can sell on the game's proprietary marketplace. And, as the game's universe expands, the number and value of these digital creatures surpass any expectations. For instance, at the time of writing, Axie Infinity had over 8.3 million players. This means that the game already has at least 24 million Axies of various values.
Axie Infinity runs on the Ethereum blockchain and is one of the top Metaverse projects by popularity. However, if you want to join it, you may want to pay a hefty price. As we mentioned above, playing the game requires you to purchase 3 Axies, and one sells for at least $500.
The last entry in our top-5 metaverse projects is Star Atlas, a gaming universe with Sci-Fi elements. The game employs a play-to-earn (P2E) model that incentivizes players to be constantly active. In return, it provides them with tangible income opportunities.
Star Atlas has an open-world, space-resembling universe with RPG elements and engaging quests. However, beneath the flashy surface is a productive digital economy that utilizes all the benefits of blockchain technology.
Unlike most Metaverse projects, which run on the Ethereum blockchain, Star Atlas runs on Solana. This enables it to create a metaverse that appeals to gamers and NFT collectors. However, that doesn't mean that the latter cannot enjoy the game's many attractive features.
Star Atlas uses Serum DEX enabling players to use the game's native token, ATLAS, within a unique monetary system, POLIS. Players can buy various digital assets, including land, equipment, starships, crew, and other in-game items.
Metaverse is the talk of the town right now. However, contrary to blockchain and cryptocurrencies, it is more accessible to people because it doesn't require in-depth tech knowledge. In fact, with its gamification and play-to-earn aspects, it appeals to a broad audience incorporating gamers, NFT collectors, and traders.
Fortunately, we are still looking at the initial stages of development in the Metaverse. So, you still have time to jump on the wagon one way or the other. We hope this guide to top Metaverse projects cleared the air on this topic. At least, it should help you know more about the Metaverse and be more fun at parties.