The metaverse has become one of the most popular trends in the Blockchain space. Last year, several projects focusing on the metaverse attracted investors’ attention. As a result, there are numerous metaverse projects coming in our way this year. So why not enter this world by taking a Metaverse course?
In the sections below, we examine some of the top Metaverse crypto coins that are speculated to make noise in 2022. Many of the cryptocurrencies mentioned in this article are also some of the most undervalued cryptocurrencies available right now.
Where does the Metaverse fit in?
Almost all role-playing games, such as The Sims, Call of Duty, World of Warcraft, and so forth, require the user to input commands via a keyboard or console – and watch the game unfold on screen. However, with Metaverse platforms, you can actually be inside the game using Virtual Reality Headsets rather than controlling, customizing, and interacting with everybody through buttons and commands.
Altogether, it would no longer be a two-dimensional virtual world but a three-dimensional domain. Many use cases will be possible for Metaverse and Metaverse crypto coins, ranging from business to entertainment.
Horizon Workrooms, which facilitate remote collaboration, were introduced by Meta, formerly Facebook. Virtual Conference Rooms allow colleagues to come together and work together regardless of their physical location. It is technically termed Metaverse (virtual, augmented reality). The technology behind it is blockchain.
In a nutshell, the metaverse is an online, persistent 3D universe with multiple virtual spaces and areas. Since the users will be able to socialize, work, live, and play in 3D space, many people consider it to be the next generation of the internet.
Metaverses are virtual worlds where users can control characters and avatars with augmented reality. The metaverse can facilitate virtual meetings, so you will feel as if you are present.
Also, you can play games based on blockchain, among many other things. The metaverse now relies heavily on cryptocurrency. The crypto tokens serve as utility tokens in the metaverse, while the non fungible tokens (NFTs) serve as virtual collectibles.
Tokens that will be notable in 2022: What to Watch For?
Over the last year, the metaverse cryptocurrency security concept has taken off. Several tech giants are focusing on the growth and development of metaverse platforms, including Microsoft, which acquired Activision Blizzard in an attempt to secure a major presence in the metaverse.
Also entering the market are major brands such as Meta (formerly known as Facebook). While Facebook’s rebranding may have seemed opportunistic and preplanned, it resulted in huge positive results for the company, as they were able to build the image that Meta is pioneering the metaverse.
Metaverse prospects are experiencing huge capital inflows, and more traditional organizations are jumping on board.
To better understand why metaverse tokens might be the most profitable type of cryptocurrency this year, here is the full list of metaverse tokens.
Axie Infinity (AXS)
With its pioneering implementation of play-to-earn, the famous blockchain game that caught the world’s attention in 2021 was founded in 2018. Unfortunately, its first two years were not fruitful.
Axie Infinity (AXS) made the news during the second quarter of 2021 (June 2021), as the metaverse concept was picking up steam due to the influx of people who were able to earn money through the game. Axie Infinity’s creator, Sky Mavis, raised $7.5 million in Series A funding in the first quarter of 2021 before raising $152 million in Series B funding from Andreessen Horowitz.
Play-to-earn gaming has always been a concept that has attracted investors worldwide to Axie Infinity due to its unique implementations and pioneering initiatives.
- The cost to start playing has increased as the game has become more popular (players need to own 3 axes to start). As a result, axie scholarships were created.
- The game is played by a manager (any player who has a sufficient amount of Axies) and a scholar (anyone who cannot afford to buy an Axie team). Scholars and managers will share the rewards earned by scholars. This divide depends only on the agreement of the manager and the scholar.
At the beginning of 2021, AXS had a market capitalization of $31 million. From 2021 to currently, the project’s market dominance and cap increased thanks to the increase in monthly active players. Toward the end of November 2021, it was valued at $9.77B. The token is presently valued at $4.5B, about half of its all-time high, but with a 10X increase on a year-over-year basis due to a bear market in crypto markets.
With the support of the following businesses, the leading metaverse token is expanding its digital footprint and reaching millions across the globe. Binance, HTC, Kyber Network, Samsung, and Ubisoft have partnered with it. Samsung recently declared a partnership with Axie that will allow its token to be listed on the tech giant’s blockchain wallet. As the game’s Ethereum sidechain is set to launch in 2018, Ubisoft partnered with the Ethereum platform to be one of its launch validators. This sidechain enables the main gameplay to be managed without any delays and is improved to increase gameplay speed.
There are many utilities associated with AXS tokens, including governance and staking. Users will earn rewards by staking their tokens each week.
The world’s tallest skyscraper, Bloktopia, consists of 21 different levels designed to symbolize the total supply of Bitcoins, approximately 21 million. Bloktopians, the holders of the Bloktopia tokens, will have access to all the various facilities available on the Bloktopia platform.
BLOK’s original plan was to reshape future reality and refocus the world’s attention from the real world to a virtual world that mimics many of the activities carried out in the real world and more.
In attracting public attention and major investments from leading brands, the platform aims to become the go-to hub for the metaverse.
The company has been a roaring success since Bloodtopia’s Initial Dex Offering (IDO) hit the market. In November 2021, the metaverse token was launched with a market capitalization of $471 million and received a very favorable response in the initial round.
- Based on the Unity3D game engine, Bloktopia’s platform is built on the Polygon Network. The Unity3D engine is a popular one among game developers. The 3D development engine is definitely the most progressive and comprehensive in terms of video game development engines.
- As investors expect the metaverse to grow, its market cap reached an all-time high of $1.18 billion, as the token continues to attract a large audience.
The market cap currently stands at $263 million with an overall bearish trend. Getting into the project now may be considered a value proposition since prices are at their lowest point in history.
Some companies have partnered up with Bloktopia in the recent past. Among them are Avalanche, DuckDAO, KuCoin Labs, Polygon Network, Shima Capital, TKX Capital, and CoinMarketCap.
The Bloktopians have access to a variety of facilities available on the platform, as Bloktopia was designed to mimic a skyscraper with 21 unique levels.
Brands will be coming onto the Bloktopia platform, giving Bloktopians a chance to interact with and purchase different virtual in-game assets that can be used as in-game assets within the Bloktopia platform. Additionally, Reblok allows HODLers to sell and purchase real estate, which is also known as Bloktopia.
The Governance council consists of Reblok NFT holders. As a result, they will be able to participate in several voting events to decide important points related to the platform.
ChromaWay, an organization behind Chromia, launched the technology in May of this year. Because the metaverse token is one of the earliest players in the crypto community, it has developed a positive reputation with crypto enthusiasts.
Among Chromia’s clients are My Neighbour Alice, a widespread metaverse, and Mines of Dalarna, a P2P game. In addition, Chromia has partnered with Revolve Games and will use CHR’s technology in the game. As interconnected gaming develops, this push is a necessity. R&D grants will be awarded to the most comprehensive and detailed concepts under the Metaverse Grant Program.
Henrik Hjelte, Or Perelman, and Alex Mizrahi will form the team’s core, which plans to leverage their experience to construct a decentralized, publicly hosted internet infrastructure that will allow users to control their data.
Several banks, enterprises, and government agencies have entrusted CHR with developing their solutions.
CHR, which had several unique features implementing the metaverse concept, was valued at $9 million in January 2021. The token price surged almost 30X in 2 months as the metaverse trend took hold, with the token’s market cap reaching $242 million. Market capitalization topped $720 million in 2 months.
At the time of writing, the metaverse token has a market cap of $458 million, which is 50X more than last year.
CHR has retained partnerships with the following crypto gaming ventures through blockchain integrations: Chain of Alliance, Krystopia: Nova’s Journey, Mines of Dalarna, and My Neighbor Alice. In the Chromium economy, the CHR token acts as a currency. By syncing CHR tokens with various DeFi applications, users can stake and pay other operational fees with CHR tokens.
Millions of video game players worldwide have become accustomed to life-simulation video games such as The Sims. Many upcoming project leads came along with their creative ideas when the crypto gaming community speculated about a virtual life simulation gaming project.
On the list of potential tokens of the metaverse, Decentraland requires no introduction. Due to the increasing importance of social media presence for social media users, projects like MANA are being introduced to serve as alternatives to our real-life activities and keep us entertained during our leisure time.
The market dominance of Decentraland has only increased in the last 12 – 16 months, even though it was founded five years ago. A token based on the ERC-20 standard, MANA was developed with the intention of facilitating the purchase and sale of virtual land within the metaverse.
There are several themed districts where users can own virtual pieces of LAND and attend events that interest them. Market trading is the process of trading marked pieces of land. Private properties are usually located in districts with specific themes and are not for sale. Additionally, Plazas were designed to spawn players, which means high foot traffic in them. In addition, the plazas are not intended for sales.
Those who are fans of the metaverse blockchain have probably heard about MANA’s unmatched success within the crypto sphere. The market cap for MANA was $124 million in the early days of 2021, which is considered significant in the crypto world.
By March 2021, however, since Decentraland was one of the pioneers of the metaverse narrative, the metaverse token’s market cap had risen to $1B in a matter of 2 months.
By May, the metaverse token’s market value had doubled to an astonishing $2.47 billion due to the unique implementation and depth of the platform. A real eye-opener was the token’s growth in the last quarter, when it grew almost five times to reach a market cap of $10 billion for the first time ever.
Its market capitalization is currently $5 billion, very high compared to last year.
Since the beginning of 2021, Decntraland has steadily increased its market dominance. Thus, Metaverse tokens have been able to secure partnerships with numerous renowned business giants. The following are among them: Binance, Blender, Samsung Electronics partners with MANA to open a store in the metaverse, and Under Armour.
By using their respective MANA tokens, holders are able to interact with the in-game ecosystem. In the current state of the platform’s operations, we can categorize its operations into two categories:
Even if you do not have any coding skills and are only interested in playing the game, you can purchase MANA tokens from any cryptocurrency marketplace and move them into your wallet on MANA’s website. You will be able to select pre-made elements on preset scene environments to create the latest land or property you can sell as a separate NFT within MANA’s ecosystem.
As soon as you connect your Metaverse wallet, you’re presented with various services and digital assets that are waiting to be traded with potential buyers. More investors are flocking to the metaverse game due to its limitless growth potential and increasing depth.
Enjin Coin (ENJ)
Originally launched in June 2018 on Ethereum main net, the Enjin Network is an open-source social network. As a developer of blockchain-based gaming products, Enjin, however, was founded in 2009 as a company. In terms of the metaverse and overall crypto market, Enjin is one of the oldest players. A community gaming platform focuses on developing a platform that allows people to interact with new players around the world.
But it wasn’t until 2017 that the company began to gain attention with its ICO, in which $18.9 million was raised. ENJ grew and became more popular as a result and developed systematic and standardized blockchain tools and services.
According to most cryptocurrency pundits, Enjin Coin has been a huge success in 2021. ENJ’s developers are well acquainted with blockchain applications since the company has been in the crypto market for so long. ENJ tokens are therefore valuable in games and can be used as in-game currency by developers. For the successful integration of ENJ as an in-game currency, the platform plans to partner with over 250,000 existing gaming websites.
Epik Prime (EPIK)
Founded in 2018, Epik Prime is a platform that improves the quality of digital items, both for brands and for game developers. We wanted to give players control over their experiences and provide them with premium quality digital assets to enhance how people express themselves. EPIK is driving its path as a major sign of premium digital assets for both brands and games due to its close correlation to the identity, performance, or status of the items in the collection.
Due to the overall bearish trend, its market cap has been declining continuously since December 2021, when it was $92 million. But it is currently worth less than 50% of what it was when it launched at $42 Million.
Meta Hero (HERO)
A year has passed since Meta Hero (HERO), which is one of the newest tokens on this list, was introduced to the crypto community. METASCAN technology is available from Meta Hero – a 3D chamber with 16 movable stanchions and four cameras. There are also 64 devices capturing images to ensure perfect object synchronization.
Even though the overall crypto market is experiencing consistent bearish trends, HERO has managed to hold its position and has only seen a 30% drop in its market cap with a current valuation of $500 million.
HERO aims to revolutionize the quality of avatars in the metaverse blockchain through its level of realism. The company’s 3D scanning technology is primarily intended for accurate measurements of 3D avatars. Therefore, the metaverse token has been partnered with many small and large-scale investors to fulfill its goal. Among them are Bloktopia and Sony.
Metaverse is an innovative niche market still in its infancy. Thus, the Metaverse token you choose can be purchased at a very affordable rate. You’ll also have the chance to diversify your portfolio with some of the best long-term investment opportunities in 2022.
The virtual world will revolutionize our daily lives. Even celebrities like Snoop Dogg, Rihana and giant corporations such as Adidas and Disney are investing in the virtual world.