We are in a time of change that can be both exciting and difficult to navigate. Although technology is still a relatively new concept, several fascinating developments are already opening up possibilities that could dramatically impact your life.
Most of us don’t know much about Web 3.0, cryptocurrencies, and the Metaverse. In areas such as entertainment, education, gaming, employment, retail, and more, the Metaverse and cryptocurrencies are defining the future of digital frontiers.
The crypto metaverse is creating a stir in the tech world as well. Several metaverse crypto initiatives are vying for attention and with the potential to define the future of the industry. As a reward, many metaverse crypto projects have come to market. For this reason, we have created a list of the essential metaverse crypto projects you should keep an eye on in 2022. But first, let’s look at what the Metaverse is all about.
Top Metaverse Crypto Projects of 2022
If you’re worried that you’ve missed the Metaverse train, don’t worry because you still have the opportunity. If you’re hoping to get on the Metaverse in 2022, keep an eye on these ten projects.
Sandbox (SAND
Sandbox project’s coin SAND is the second most popular Metaverse cryptocurrency. However, it has been a much bigger winner than Decentraland in recent months, as its SAND coin has skyrocketed by nearly 1,670 percent.
The Sandbox, like Decentralnd, is a virtual world with a DAO architecture. Like Decentralnd, The Sandbox is an Ethereum blockchain. This blockchain intends to facilitate the acquisition of virtual land and other assets and enables smart contracts.
The initial currency of The Sandbox is the virtual token SAND. This token is a Polygon’s Layer 2 solution with lower transaction costs and better processing times.
In simpler words, The Sandbox is a virtual environment where people worldwide can quickly own, create and earn through their gaming experiences by using the SAND token. It allows players to create digital assets in the form of NFTs. They can also upload them to the NFT marketplace and utilize them in games with reputable developers, as mentioned earlier.
Decentraland (MANA)
Decentraland is the largest crypto Metaverse, with a market value of over $5.6 billion. Since December, MANA’s stock price has declined sharply but has more than 4x in the last three months.
Decentraland is the first fully decentralized virtual environment and the largest Metaverse cryptocurrency. In addition, its decentralized autonomous organization (DAO) has the so-called key smart contracts that power Decentraland’s Metaverse, specifically the LAND contract, that lets users sell and buy virtual real estate on the network.
Decentraland users can easily monetize their LAND by enabling advertising, interactive games, and other features. As mentioned earlier, MANA, Decentraland’s token, is the money of the Metaverse and can be used to purchase LAND, wearables, avatars, names, and a variety of other products in the Decentraland marketplace.
GALA Metaverse Coin
Gamers can freely exchange products in-game on Gala, a blockchain gaming platform combining non-fungible tokens and gaming excitement. In addition, GALA offers several blockchain-based social games that are all about building connections and socializing.
Town Star, Spider Tank, Mirandus, and Echoes of Empire are just a few of the games currently available. One of the strengths of the blockchain project is the level of control and ownership granted to players. This is primarily achieved through GALA, the in-game digital token used on the platform for network management, prizes, and incentives for node operators, among other things.
Players can also use the GALA token to purchase digital items such as NFTs through the game’s store and marketplace. Gala users can design and modify their avatars, similar to other blockchain-based games.
AXIE INFINITY (AXS)
Axie Infinity, a blockchain-based game, has a whole world with its adorable, animal-like characters and the possibilities it offers to its players. So many people have made Axie their full-time profession.
AXS is the governance token of Axie Infinity. Owners of AXS can vote on the game’s future development, including updates and cash usage. Axie’s own AXS and SLP coins are at the heart of this Ethereum blockchain crypto metaverse concept. Within the game, each of them performs a specific task.
AXS has always been among the best-performing Metaverse cryptocurrencies, and in 2021 alone, its value increased by about 200% year-over-year. Users can earn SLP tokens as rewards in adventure or battle mode. More importantly, players can also use SLP tokens for breeding in-game axes. As the game’s popularity exploded, these creatures became increasingly valuable – a trend we can still see in 2022. And since players can quickly redeem in-game currency in the real world, it’s unlikely that this model will disappear soon.
Star Atlas (ATLAS) Coin
Star Atlas is the next revolutionary Metaverse project of the future, in the year 2620, where players can explore the land and acquire resources in a futuristic environment.
ATLAS and POLIS are the two Solana blockchain-based coins of Star Atlas. The first, ATLAS, works similarly to a regular in-game currency and allows players to perform tasks such as battles, explore new areas, and access the marketplace. This is especially important since all but a few assets in the game are NFTs. On the other hand, POLIS allows players to engage in “political intrigue,” as the creators describe it. Moreover, players have control over game decisions – and can even overrule the developers.
Think of the game as a typical reward game, where you earn metaverse crypto coins as you play and accomplish missions. However, the rewards in this scenario have the potential to be beneficial. In addition, the game uses the Solana blockchain, which has a significant advantage in terms of transaction fees over Ethereum-based ventures. The game’s market cap is currently over $134 million.
Enjin Coin (ENJ)
Enjin is an Ethereum blockchain-based ERC-20 token that is used as game money to buy game items and increase the value of game items. In addition, ENJ, the platform’s utility token, users can use as a medium of exchange to buy and sell in-game products.
In addition, the Enjin platform offers another feature: a marketplace. This feature allows players and developers to exchange the things they create in a marketplace without paying fees to an intermediary.
Enjin allows game developers to issue in-game Ethereum tokens containing both fungible and non-fungible assets.
Conclusion
Crypto Metaverse companies are on the rise, and since various forms of cryptocurrencies are back, it is worth investigating what each company offers. It is tough to predict the future of the platforms mentioned in this article, but we hope you have gained enough insight to venture into this exciting field. Before you invest in any of these projects, make sure you do your research.
