Talking about metaverse projects is recalling how popular the metaverse has become once more. As interactions are unfolding in the metaverses, many opportunities are arising.
But first, what is the metaverse?
The metaverse refers to the web transformation as it is known today, into an immersive virtual 3D place. It is an online universe, accessible to everyone. A metaverse is a world that brings together in a virtual space people far away across continents. We will be able to meet virtually and be fully involved in this other version of the real world.
The metaverse can also be conceived as a world where all the human, monetary, political, etc. interactions that are part of real life will take place. Each individual will live in the metaverse through their avatar, will be able to share, exchange, develop skills, earn money, attend conferences, concerts, have fun, go sightseeing, etc.
What is the link between metaverse projects and NFTs?
The metaverse being a digital space will be the ideal way to give value to NFTs. Individuals will be able to easily showcase their dematerialized goods and prove their ownership. Cryptocurrencies merely give strength to the principle of digital transactions and even more so in metaverses. With the principle of interoperability between metaverses, people will be able to expose their non-fungible assets between different universes. This proves that metaverses are in a phase of evolution and will occupy a great part in the near future.
5 metaverse projects to look at closely
This metaverses wave being already in progress, it is necessary to take a look at it in order to not miss out on important opportunities. Here are 5 highly relevant metaverse projects for 2022.
Market cap: $4 billion
Daily trading volume: $1 billion
Native Cryptocurrency: MANA
Value: 1 MANA token=$2.58
Linked to the Blockchain Ethereum, Decentraland is a metaverse that makes possible various exploitations of virtual lands. Users of this platform have the possibility to build on their plots of land, to boost their value by creating content. They can then monetize whatever is there that belongs to them.
Decentraland has a total of 90,601 parcels of land in the form of an ERC-721 non-fungible token (NFT) called LAND. As in real life, each LAND has precise virtual geographic coordinates. This metaverse holds several divisions of different dimensions from each other which are districts. Districts are created through the sale of plots of land for MANA tokens by individuals. And following the principle of NFTs, LANDs are not exchangeable.
This metaverse is constituted as a decentralized autonomous organization (DAO). Users, by voting, are thus able to be stakeholders in the metaverse administration. This implies that each MANA token holder has some decision-making power over the conduct of actions in Decentraland. It can be the purchasing policy, the auctions running, the content which can be found there, and more.
Decentraland is recommended for artists wishing to express themselves on a profitable artistic platform. This is also the case for companies wishing to diversify their commercial strategy. Individuals wishing to have fun or even invest can just as easily use Decentraland. Monetization in Decentraland ranges from renting virtual lands, advertising, to selling virtual goods for MANA Tokens.
Market cap: $3 billion
Daily trading volume: $1 billion
Native Cryptocurrency: SAND
Value: 1 SAND token= $3
Users number: Over 30 million
The SandBox is a virtual universe based on the blockchain system. Its users can build, create, sell and buy dematerialized goods while playing. As a decentralized autonomous organization, The SandBox will combine metaverse and NFT by reinforcing the “Play-to-earn” model. A big NFT trend of 2022, “Play-to-earn” is a creative form giving users the ability to earn through play. Players have the opportunity to collect, earn, create and resell their digital assets as they wish. It means being a creator and a consumer at the same time, knowing that any content can be changed into NFT. The utility token that enables transactions in this metaverse is SAND. Token ERC-20, we estimate a supply of three billion SAND tokens.
The SandBox is quite unique in its kind because it has managed to exploit the strength of the Blockchain system in the world of online gaming. This metaverse with this tactic has managed to establish itself in the global video game industry. The SandBox has planned to explore sectors other than gaming, such as fashion or concerts in the metaverse. Many well-known investors are interested in this platform like Atari or Cryptokitties. Partnerships with celebrities like Snoop Dogg who wants to create a digital twin of his home in the metaverse, will make this platform even more known. As of early march 2022, the Sandbox just released the Alpha Season 02 version of the game with many new amazing experiences and up to 1000 SAND rewards for players!
Market cap: $2 billion
Daily trading volume: $551 million
Native Cryptocurrencies: AXS & SLP
Value: 1 AXS token= $48.39
Users number: 2 million daily active users
Known for being the metaverse that has sold the most expensive virtual lands, Axie Infinity is a virtual space with great potential. Like The SandBox, the Axie Infinity metaverse uses the Play-to-earn model which combines cryptocurrencies and NFTs, and earnings through play. This model makes it possible to considerably increase the transactions volume on the metaverse.
Axie Infinity is a Blockchain Ethereum based game that consists of organizing axie’s life into an empire. This game requires to have previously acquired axies, which are creatures in the game. These axies will give access to the game in which you can buy plots of land, build your kingdom, trade, strengthen the value of a land, etc. Axies are like in Pokemon bred and trained to fight against other axies belonging to users of the same network.
Following the principle of NFTs scarcity, both axies and plots of land are unique. Users who own plots of land or axies can grow their earnings by increasing the value of their possession. Transactions there are simple according to the fact that the Axie Infinity game has native cryptocurrencies. These are the Axie Infinity Shard (AXS) and the Smooth Love Potion (SLP).
The popularity of games based on the “Play-to-earn” model is obvious. This trend has driven the value of the AXS token up. This utility token specific to the Axie Infinity game is currently among the most promising cryptos, as it is a Target of investors, traders and even gamers.This metaverse is already in partnership with major groups such as Samsung Next or Fabric Ventures.
Market cap: $119 million
Daily trading volume: $9 million
Native Cryptocurrency: BLOK
Value: 1 BLOK token= $0.014
As metaverse projects, Bloktopia to become popular, has used the wave of the identity change from the Facebook group to Meta. Bloktopia is a virtual world that aims to be immersive and more future-oriented. This platform wants to link the use of Virtual Reality headsets to the metaverse. In this futuristic virtual space, it will be possible to evolve, to interact with users around the world. There is also a virtual skyscraper with 21 floors. This figure is a nod to the 21 million BTC (Bitcoin) currently in circulation on the crypto market. The first floor is already occupied by well-known crypto entities such as Binance NFTs or BitBoy.
This universe aspires to create for its users a virtual space with the maximum possible interactions. Thus, everyone will be able to create their avatar, exchange and discuss with others, sell dematerialized goods, resell virtual land, monetize advertising space. As more down to earth examples, it will also be about jogging, singing, recreating playable scenarios, setting up various challenges, playing, winning, etc. Eventually, Bloktopia users will be able to host recreational events or attend others within this skyscraper. We cite in this case as an event the best moments of WWE (World Wrestling Entertainment).
Talking about metaverse projects, this one is extremely promising. The price of its native token has grown at least 750x since its launch. In addition to the game, there are also very interesting features such as the multi-crypto Wallet allowing you to store various dematerialized goods. The REBLOK for example is a real estate property in this metaverse that will increase in value over time. The ADBLOK, on the other hand, is an advertising space that can provide revenue through advertisements. Bloktopia is therefore a metaverse that will offer a multitude of financial opportunities.
The Beta version of Bloktopia is due March 2022. This version will allow users to test the first six floors which are part of the skyscraper of this futuristic universe.
Market cap: $69 million
Daily trading volume: $9 million
Native Cryptocurrency: ATLAS
Value: 1 ATLAS token= $0.032
Star Atlas is also part of a futuristic universe, more precisely the year 2620. This virtual reality game stages a system of government called Polis around which revolve conquests and exploration of territory, characters, virtual equipments, search for resources, political power game. As the game progresses, users are able to earn lots of rewards in the form of NFTs. It is quite a unique virtual set among metaverse projects based on the Solana blockchain. This blockchain will allow the game to protect itself from excessively high gas fees.
With the integration of the ATLAS token, Star Atlas adopts two versions: the one with a traditional virtual game and also the one with a blockchain Game. The other asset called POLIS is an asset of the game which as well unlocks benefits in terms of governance in the game. It will therefore be possible as in different metaverses to buy virtual lands, game characters and other virtual assets under the form of NFT. It is a metaverse in which users will have the ability to create a multitude of characters with the aim of making this virtual universe more dynamic. Players will also be able to create secret spaces in which they will give the impression to other metaverse users of having disappeared.
The metaverse version of Star Atlas is still in the design phase. Its gameplay and its current characteristics are however very encouraging for the future.
The market boom of metaverses, NFTs and crypto in general is gradually drawing a near future. Soon, almost all real interactions will be available in virtual worlds. The influence of metaverses is already tremendous, but will be even more in the years to come.