We’re in the midst of a period of transformation, which can be both exciting and hard to keep up with. While technology is still a relatively new concept, numerous fascinating efforts are already gaining pace and giving opportunities that might drastically impact your life.
When it comes to Web 3.0, cryptocurrency, and the metaverse, most of us are left wondering. However, in sectors like entertainment, education, gaming, employment, retail, and much more, the metaverse and crypto are combining to determine the future of digital frontiers.
The metaverse is now causing a stir in the technical world. There is a slew of metaverse crypto initiatives vying for attention, with the potential to determine the future of the industry. As a result, many metaverse crypto projects have been established in the market, and they are constantly creating stories. As a result, we’ve put up a list of the top metaverse crypto projects to watch in 2022. But first, let’s take a look at what the metaverse is all about.
Metaverse: A Brief Review
The Metaverse is only a virtual imitation of reality. In these virtual worlds, users may visit art galleries, attend concerts, and travel to exotic locations using a virtual custom-made avatar.
A Metaverse, in other terms, is a three-dimensional world that is known to include numerous virtual places. Users will be able to meet, cooperate, interact, and play games in these 3D areas, equating to a future version of the internet.
You should also be aware that there is more than one Metaverse out there since numerous firms are developing different versions, each with its own set of network protocols.
However, all of these Metaverses are working towards the same goal: allowing more overlap between our digital and physical lives. Furthermore, while cryptocurrencies are largely utilized for processing transactions and a variety of other duties related to the real world, they are digital assets that, as previously said, are employed as a means of exchange and a store of value in these virtual worlds.
When it comes to cryptocurrencies and the Metaverse, these assets operate as money in the Metaverse. For everything from avatar shoes to non-fungible tokens (NFTs), virtual real estate, and more, each Metaverse has its own set of currency.
Metaverse is now generating news in the technological world, leading to a surge of crypto initiatives, each with the potential to define the future of both digital real estate and crypto projects.
Metaverse initiatives are being pursued by tech heavyweights such as Meta, Google, Microsoft, and Tencent, all with the hopes of becoming a key shaping factor in this new digital universe. Strong players have drawn out their wallets for the event, and the prize pool may be massive.
As a result, virtual marketplaces have flourished in the metaverse. Through exchanges, Metaverse crypto has grown in popularity, and its accessibility has seen the technology accepted by both consumers and investors.
Want to learn more about how Metaverse works? Check out our comprehensive guide on “What is the Metaverse? Step-by-Step Beginners Guide 2023”
Top 10 metaverse crypto projects
If you’re concerned that you’ve missed the metaverse bandwagon, don’t worry, as you still have the opportunity. If you’re hoping to enter the metaverse in 2022, these are ten projects to keep an eye on.
Decentraland is now the largest metaverse cryptocurrency, with a market worth of over 5.6 billion dollars. Decentraland, which is referred to as a virtual cosmos of sorts in social contexts, encompasses the whole metaverse. MANA has more than quadrupled in the last three months, despite a sharp drop since December.
Decentraland is notable for being the first fully decentralized virtual environment and being the largest metaverse cryptocurrency. Furthermore, its decentralized autonomous organization (DAO) possesses the so-called key smart contracts that power the Decentraland metaverse, most notably the LAND contract, which allows users to buy and sell virtual land on the network.
Decentraland users may easily monetize their LAND by enabling advertising, interactive games, and other features. As previously stated, Decentraland’s native token, MANA, is the metaverse’s money and can be used to buy LAND, as well as wearables, avatars, names, and a variety of other products in the Decentraland marketplace.
The Sandbox (SAND)
Sandbox is the second most popular metaverse cryptocurrency. However, it has been a considerably larger winner than Decentraland in recent months, with its native SAND coin skyrocketing close to 1,670 percent.
The Sandbox, like Decentralnd, is a virtual environment with a DAO architecture. Not only that but The Sandbox is said to be constructed on the Ethereum blockchain, similar to Decentralnd. By simply acquiring virtual land and other assets, this blockchain is supposed to facilitate smart contracts.
The Sandbox’s original currency is the SAND virtual token, and it is shifting to Polygon’s layer 2 solutions, which are noted for its cheaper transaction costs and better processing times.
Simply put, the Sandbox is a virtual environment where people from all over the world can easily develop, own, and monetize their gaming experiences using the SAND Token on the Ethereum Blockchain. Players can generate virtual assets in the form of non-fungible tokens (NFTs), upload them to the marketplace, and use them in games using renowned creators, as previously indicated.
AXIE INFINITY (AXS)
There’s no way you haven’t heard about Axie Infinity unless you’ve been living under a rock. This blockchain-based game has captivated the globe with its endearing animal-like characters and the chances it provides to its players, who have found themselves earning large sums of money while doing something they enjoy: gaming. So many people have turned Axie into a full-time career.
Axie’s native coins AXS and SLP are at the heart of this Ethereum blockchain metaverse concept. Inside the game, each serves a particular role. Axie Infinity Shards, or AXS, is the governance token. AXS holders can vote on the game’s future development plans, such as updates and how the treasury balance is used.
AXS has consistently been ranked among the top metaverse cryptocurrencies, and in 2021 alone, its value went up by some 200% when compared to the previous year. As for the SLP tokens, also known as Smooth Love Potion, these can be earned as rewards through battle or adventure mode.
More importantly, SLP tokens can be used to breed Axies. As the popularity of the game exploded, these creatures became increasingly more valuable – and that is a trend we’re still seeing in 2022. And, since players can easily take the in-game currency and cash it out in the real world, that’s a model that is unlikely to go anywhere anytime soon. As a result, Axie Infinity is and will continue to be one of the most important metaverses to follow this year.
Gala is a blockchain gaming platform that combines the benefits of non-fungible tokens with the excitement of gaming to create a platform where users can freely swap in-game products. In addition, Gala features a number of blockchain-based social games centered on building relationships and connecting people.
Spider Tank, Town Star, Mirandus, Fortified, and Echoes of Empire are some of the games that are currently accessible. The degree of control and ownership granted to players is one of the blockchain project’s strong qualities. This is mostly accomplished through GALA, the game’s native digital token, which is utilized throughout the platform for network governance, prizes, and node operator incentives, among other things.
Gala is also used to buy digital items, such as NFTs, via the game’s shop and player marketplace. Gala users may design and modify their avatars, much like in other blockchain-based games.
Enjin Coin (ENJ)
Enjin is an ERC-20 token based on the Ethereum blockchain that is intended to be used as in-game money for purchasing game items as well as adding value to in-game assets. In addition, ENJ, the platform’s native utility token, may also be used as a means of exchange for selling and buying in-game products.
Aside from that, Enjin’s platform offers another feature: a marketplace. This feature lets game players and developers exchange the things they’ve created on a marketplace without having to pay any fees to an intermediary.
To be precise, Enjin is a platform or service that allows game creators to issue fungible and non-fungible assets as Ethereum tokens in-game easily.
Metahero is a brand-new metaverse item that revolves around the creation of 3D avatars of real-world people and objects using 3D scanning. The startup claims to have installed a scanning chamber in Doha that scans items and creates a virtual, 3D version for the Metahero universe.
As if this was not entertaining enough, avatars may be customized with a variety of talents and abilities from classes such as Enchanter, Elementalist, Close Combat Specialist, Spellcaster, Mentalist, Range Combat Specialist, and Assassin. Apart from this, players may level up their Recruits and trade or sell the NFT that fuels their accounts. Finally, if you’re curious about how it all works, one-of-a-kind Meta scanners are utilized to not only scan but also print and produce new in-game avatars.
They’ve also teamed up with Wolf Studios and the cryptocurrency HERO, whose native utility token has a market valuation of nearly $494 million as of the start of this year. Although it is not excessive, it is reasonable given the fact that Metahero is a new concept.
Star Atlas (ATLAS)
Star Atlas is a metaverse project that revolves on a game set in the future, namely the year 2620, in which players can conquer land and acquire resources in a futuristic setting.
ATLAS and POLIS are Star Atlas’ two Solana-blockchain-based coins. The first, ATLAS, functions similarly to a standard in-game currency, allowing players to do tasks like fighting in battles and exploring new realms and accessing the marketplace. This is especially significant since, except for a few things, all assets in the game are NFTs. On the other hand, POLIS allows users to participate in “political intrigue,” as the makers describe it. Also, players are in control of deciding game decisions – and may even outvote the developers.
Consider it a typical reward-based game in which you earn coins as you play and complete tasks. However, the benefits in this scenario have the potential to be profitable. Furthermore, the game is built on the Solana blockchain, which provides it a major edge over Ethereum-based ventures in terms of transaction fees. It now has a market capitalization of over 134 million dollars.
Bloktopia’s skyscraper-themed metaverse project aspires to create a one-of-a-kind platform where users may study, meet new people, conduct business, and experiment with a variety of activities over a 21-storey structure. Because the construction will be incomplete at the start, this metaverse will rely largely on each user’s input and ingenuity. While much hasn’t been revealed about this future initiative, which is set to premiere in the coming months, there have already been some intriguing glimpses, such as a World Wrestling Entertainment (WWE) room.
Bloktopia also aims to develop new ways for creating content and revenue for those who desire to live in the metaverse. When it debuts, players will get levels 1-6 to explore. You’ll have to wait to find out what’s inside it since that’s part of the mystery.
High Street (HIGH)
Highstreet is an intriguing idea with a lot of promise, at least in terms of metaverse usage. You may simply shop for products inside the virtual universe using its native utility token, HIGH, much like many others. Some Shopify sites are already connected to the game platform.
Its hybrid approach of virtual experience is what truly distinguishes it from the competition. It’s essentially a half-virtual, half-physical model, which adds to the intrigue. Not only that, but NFTs are critical to the platform’s success, and many companies can simply be onboarded so that their goods may be utilized as NFTs.
The project is reported to be funded by HTC, and it raised around $5 million in August 2021. It has a market valuation of about 85 million dollars as of January this year, and its value has increased by approximately 90% since its introduction in October last year.
Cryptovoxels is a Minecraft-inspired Ethereum-based metaverse. As a result, this metaverse is made up of a vast network of digital infrastructures and land blocks that users may build upon indefinitely. On OpenSea, assets may be traded for ETH, but Cryptovoxels also has its own currency, the Cryptovoxels Parcel (CVPA). These may be purchased through OpenSea as well and correlate to land in Cryptovoxel’s Origin City.
As an NFT, users maintain complete ownership of each land piece, known as Voxels. Players may either develop or sell their virtual properties, which include adding posters, signage, and music recordings. Cryptovoxels, being one of the first metaverse initiatives, has managed to build a fantastic community that has only expanded over time, resulting in ever more inventive and fascinating NFTs. As a result, Cryptovoxels is a project to remember in 2022.
The crypto world and the metaverse are growing at a dramatic rate. So much so that predicting the future of digital worlds and which cryptocurrencies will remain at the top of the greatest metaverse projects is difficult. However, this can be thought of as just another fascinating part of the current technological revolution. Despite the fact that there are many unknowns in the mix, we hope this list served as a good beginning point for your exploration of the metaverse.
If you are planning to invest in any of the metaverse crypto projects, you can look out for some professional guidance. However, if you want to dive deep into the crypto and metaverse realm, then Blockchain Council is at your service. Blockchain Council’s extensive courses include Metaverse course and many others. You need to simply enrol in any of the offered courses as per your requirement.