Top 5 Metaverse Blockchain Projects to Watch for in 2022
The Metaverse is just a computer simulation of the real world. Using a virtual, personal avatar, users can visit art galleries, go to concerts, and travel to distant places in these virtual worlds. In other words, a metaverse is a three-dimensional world known to contain a number of virtual locations. In these 3D rooms, which are analogous to the internet of the future, users will be able to interact, collaborate and play games.
The common goal of all these Metaverses is to increase the degree of overlap between our online and offline lives. Furthermore, cryptocurrencies are digital assets that, as previously mentioned, are used as a medium of exchange and a store of value in these virtual worlds, although they are primarily used to process transactions and a variety of other tasks related to the real world.
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Tech giants such as Meta, Google, Microsoft and Tencent are all pursuing Metaverse initiatives in hopes of playing a significant role in this new digital universe. Strong competitors have opened their wallets for the competition, and the prize pool can be huge.
As a result, the metaverse’s virtual markets have thrived. Metaverse cryptocurrency has become more popular through exchanges and both investors and consumers are now accepting the technology due to its accessibility.
Top 5 Metaverse Blockchain Projects to Watch for in 2022
Decentralized country
The largest cryptocurrency in the metaverse right now is Decentraland, which has a market cap of over $5.6 billion. The entire metaverse is part of Decentraland, which is referred to as a kind of virtual cosmos in social contexts. MANA has increased by more than four times in the last three months, despite a significant decline since December.
There are 90,601 separate pieces of land in Decentraland, each represented by an ERC-721 non-fungible token (NFT) called LAND. Each COUNTRY has exact virtual geographic coordinates, just like in real life. Several districts, or divisions of different dimensions from each other, exist in the metaverse. Individuals can sell their land parcels for MANA tokens to form districts. LAND are also not interchangeable, in accordance with NFT’s guiding principle.
- Market value: $4 billion
- Daily trading volume: $1 billion
- Native cryptocurrency: MANA
- Value: 1 MANA token=$2.58
Sandbox
The second most used cryptocurrency in the metaverse is called Sandbox. However, it has outperformed Decentraland in recent months, with the value of the original SAND coin increasing by nearly 1,670 percent.
Sandbox is a virtual environment with DAO architecture, just like Decentraland. Additionally, Sandbox is reportedly built on the Ethereum blockchain, much like Decentralnd. The SAND virtual token, which was Sandbox’s original currency, is being replaced by layer 2 solutions from Polygon, known for their fast processing times and lower transaction costs.
- Market value: $3 billion
- Daily trading volume: $1 billion
- Native cryptocurrency: SAND
- Value: 1 SAND token = $3
- Number of users: Over 30 million
Blocktopia
The goal of Bloktopia’s skyscraper-themed metaverse project is to develop a unique environment. In general, users can learn, network, conduct business and participate in a wide range of activities in a 21-story building. This metaverse will rely heavily on each user’s input and ingenuity because its construction will be incomplete at first. There have been some intriguing hints about this upcoming project, which is scheduled to debut in the coming months, although not much has been made public yet. One such hint was the presence of a WWE room.
- Market value: $119 million
- Daily trading volume: $9 million
- Native cryptocurrency: BLOK
- Value: 1 BLOK token= $0.014
Axie Infinity
It is impossible for you not to be aware of Axie Infinity unless you have been hiding. With its adorable animal-like characters and the opportunities it offers its players, this blockchain-based game has captured the attention of players worldwide. Players have discovered that they earn significant sums of money while doing something they enjoy: gaming. Axie has become a full-time profession for a large number of people.
AXS has consistently been ranked as one of the top metaverse cryptocurrencies, and in 2021 alone, its value increased by approximately 200% over the previous year. Smooth Love Potion (SLP) tokens, can be acquired through battle or adventure mode.
- Market value: $2 billion
- Daily trading volume: $551 million
- Native Cryptocurrencies: AXS & SLP
- Value: 1 AXS token = $48.39
- Number of users: 2 million daily active users
Star atlas
Star Atlas is set in a future universe, specifically the year 2620. This virtual reality game simulates a political system called Polis, around which players must conquer and explore different regions while using virtual tools, virtual characters and political power. Users can earn tons of rewards in the form of NFTs as the game progresses. Among metaverse projects based on the Solana blockchain, there is a rather unique virtual world. The game will be able to defend against absurdly high gas prices thanks to this blockchain.
- Market value: $69 million
- Daily trading volume: $9 million
- Native cryptocurrency: ATLAS
- Value: 1 ATLAS token = $0.032
Also Read: Future Rulers Of The Metaverse: Top 5 Augmented Reality Companies
The content presented may include the author’s personal opinion and is subject to market conditions. Do market research before investing in cryptocurrencies. The author or publication has no responsibility for your personal financial loss.
