The metaverse utilizes AR and VR technologies to allow individuals to communicate via their avatars or digital duplicates. Matt Ball defines the metaverse as “a highly scalable, interoperable network of real-time produced 3D virtual worlds.” In response to Mark Zuckerberg’s plans to rebrand Facebook as “Meta” in 2021, other multinational corporations are planning their metaverse endeavors. Sony and Epic Games, best known for PlayStation and Fortnite, each put $1 billion into the metaverse in 2022.

Every company seems to be working on a metaverse project, ranging from billion-dollar gaming franchises to investments in real estate, to give its customers a unique experience. Using AR and VR technology, the metaverse may impact people’s work, leisure, and social relationships by erasing the line between real and digital. It might also transform how we do business and create shared experiences. mIn this article, we’ll introduce you to the top 10 metaverse projects so you may invest in crypto and discover new ways to play games, interact, learn, and stay in touch with friends.

Metaverse

The “Metaverse” is a digital domain where individuals may work, play, shop, create, learn, and interact as they would in the physical world. The metaverse blends the best aspects of the digital and physical worlds. It is the next generation of online social interactions, enabling multidimensional involvement and connection. You can own virtual properties in the metaverse, rent or sell them to other users, or exchange them for tokens or non-fungible tokens (NFTs), a kind of in-game currency and collectible used in play-to-earn games. You may invest in, trade, and receive interest in major metaverse currencies. In the metaverse, cryptocurrencies stand for everything in a virtual world, from concert tickets to an avatar’s clothes. Each metaverse project uses its own money or tokens.

Technological titans like Meta, Google, Microsoft, and Tencent are shaping the metaverse. In the next eight years, the global metaverse market is expected to grow by nearly 40%, reaching $670 billion in 2030. According to a study, a greater emphasis on linking the digital and real worlds through the Internet and the rising momentum and popularity of VR, MR, and AR are expected to drive revenue growth.

2022 Metaverse Projects

Let’s examine the top ten blockchain-based metaverse projects, including their subject, game mechanics, reward scheme, crypto-economics, market relevance, etc.

1. Decentraland

Decentraland is an established metaverse project that allows users to buy, sell, and manage the virtual property (called LAND).
The metaverse of Decentraland offers users exciting interaction opportunities. You can shop, attend events, concerts, and festivals, play games, meet new people, develop new business projects, and bet in this metaverse.

Decentraland is a crypto-metaverse built on the blockchain. Because it is user-owned, everyone may create their settings, avatars, marketplaces, digital infrastructures, and apps. MANA is the virtual world’s currency. Several notable cryptocurrency exchanges sell it. The platform has recently incorporated eCommerce technology, making it an essential marketing destination. In 2022, Decentraland will likely remain a leading initiative.

Also read: How Will The Metaverse Affect The Future Of Work?

2. Sandbox

The Sandbox is a play-to-earn Ethereum blockchain-based virtual world. The Sandbox, inspired by Minecraft and Roblox, allows users to create their worlds using 3D voxels. SAND, the platform’s currency, enables anybody to create, manage, and sell video games. The SAND utility token is an ERC-20 token that allows Sandbox transactions. There are more than 70 million unique planets and ecosystems, so non-fungible permits (NFTs) are needed.

LAND is an Ethereum non-fungible token (ERC-721). The Sandbox enables users to create games, assets, and applications on their land plots. They may sell their creations on the Sandbox Platform or any other marketplace that accepts NFTs. The Sandbox has connections to CryptoKitties, The Walking Dead, The Smurfs, Shaun the Sheep, and Snoop Dogg.

3. Axie (AXS)

Axie Infinity is a blockchain-based game with animal-like avatars that are cute. Axie Infinity offers gamers extraordinary opportunities to earn money while playing video games. Many people do Axie full-time.

Axie Infinity is a leading 2018 metaverse project. Axie Infinity runs on AXS and SLP tokens. Axie Infinity Shards (AXS) are a governance token that allows holders to vote on game updates and the usage of the treasury balance. AXS is one of the best metaverse tokens, with a 200% growth rate in 2021. Smooth Love Potion tokens gained via fighting or adventuring are used to create Axies. As the game’s popularity grew, these animals became more expensive, continuing through 2022.

4. Metahero (HERO)

Metahero (HERO) is a 2021 crypto project that allows users to scan real-world objects and themselves into the metaverse. The ERC-20 token HERO is used for scanning services and communicating with the metaverse. The main attraction is hyper-realistic computer reproductions of real-world objects.

Wolf Digital World has the most advanced 3-D 16K photogrammetric scanning technology on the market. CD Project, the company behind Cyberpunk 2077 and The Witcher series, uses this technology. Metahero utilizes the scanning technology of Wolf Digital World to build 3D human models. Its $9 million presale demonstrates community support for the initiative. Everyone and DOME are metaverses belonging to Metahero.

5. Somnium (Cube)

Somnium Space is a 3D blockchain platform that makes mind-blowing experiences possible and has the potential to be used in the metaverse. Somnium is an “open, social, and permanent virtual reality platform” where users may “live,” entertain themselves, converse with others, and make purchases.

Somnium utilizes the Solana blockchain, whereas most projects use Ethereum. This enabled users to develop an NFT gallery, use a VR avatar to attend VR concerts while dancing, and create new NFT-based worlds and experiences. Somnium Space’s ERC-20 token is CUBE. The funds may purchase virtual items, pay for goods, services, games, and events, rent land, and reward “karma.” Gemini, Microsoft, and OpenSea have provided funding for Somnium.

6. Gala (GALA)

Gala is a blockchain-based gaming platform that lets players freely trade in-game stuff. Gala offers blockchain-based social games that emphasize player connections. Some games can be played are Town Star, Mirandus, Fortified, Spider Tank, and Echoes of Empire. GALA is used for network governance, incentives for node operators, and awards. Gala purchases NFTs from the game’s shop and marketplace for players. As with other blockchain-based games, Gala users may modify their avatars.

7. Apecoin (APE)

ApeCoin, a 2022 metaverse currency, has dominated the cryptocurrency market. Soon after its launch, Yuga Labs announced a metaverse cryptocurrency project based on ApeCoin and gave BAYC NFT holders the money for it for free. This news increased the value of the APE token, briefly making it the most valuable currency in the metaverse.

EverRise: RT @ETH_Daily: ⚡ Most-mentioned #ERC20 Projects on Twitter in The Last 7 Days

🥇 $SHIB @shibtoken
🥈 $BABYDOGE @BabyDogeCoin
🥉 $FLOKI @RealFlokiInu$APE @apecoin$CULT @wearecultdao$BONE @BoneShiba$AXS @AxieInfinity$KIBA @KibaInuWorld
$RI… pic.twitter.com/kXm3RDZBW5

— EverChart (@EverChart) October 28, 2022

Since then, its value has dropped by 83%, according to CoinStats, and it is now the third largest currency by market capitalization. Anyone holding metaverse money may vote on a decentralized autonomous organization’s (DAO) governance decisions. ApeCoin has several applications inside the ecosystem of Yuga Labs. Token holders get access to exclusive games, events, products, and services. As an ERC-20 token, it may be used for Ethereum transactions. The coin is already used for NFT incentives, and BAYC holders get free APE.

8. Souls of Nature

It will be the first HD Metaverse released by NFT in 2022. It will be a metaverse game and project using tradable, non-fungible tokens to aid endangered animals and habitats.

Souls of Nature is committed to assisting humanity and protecting Mother Nature. As Souls of Nature focuses on animal wildlife and the natural world, player avatars are animals. You will be reborn as an animal spirit and set on a quest to protect the environment, all in immersive HD on the Unreal Engine. A portion of the sales from the first collection will help protect habitats in danger.

9. Otherside

The other side will be an MMORPG tied to BAYC (Massively Multiplayer Online Role-Playing Game). According to the developers, the game would include MMORPG and Web3 virtual world technology. NFTs may be played. More than 10,000 users are permitted to play simultaneously and own property worldwide.

Otherside will include Cool Cats, World of Women, and CrypToadz, among others. In the metaverse, collectors can own land and interact with diverse ecosystems and species. Yuga Labs received $450,000,000 for its metaverse. Yuga will make use of ApeCoin. The creators of The Otherside are Animoca Brands, who also created The Sandbox. CryptoPunk, Mutant Ape, Board Ape, and Kennel Club will be played at their debuts. Meebits are en route. On the other hand, like other games, it offers 200,000 virtual land lots. In the second-to-last week of April, the first Otherdeeds, the Otherside NFTs, were sold.

10. Star Atlas

Star Atlas is a AAA cryptogame. sStar Atlas is a metaverse crypto project based on a grand strategy game that involves exploring space, taking over territory, etc. The game takes place in 2620, and players can take over land and gather resources. Next-generation Unreal Engine 5 graphics and triple-A game design give users security and digital safety in the metaverse.
POLI and ATLAS propel the Star Atlas. Like other blockchain-based gaming incentive systems, ATLAS is an in-game token that lets users fight, explore, and earn the pass by playing.

Star Atlas has worked with MoonPay, a company that handles cryptocurrency payments, to let people buy non-fungible tokens and ATLAS with credit cards. MoonPay will simplify fiat-to-cryptocurrency transactions in Star Atlas. Metaverse and DeFi are growing at a crazy fast rate, which makes it hard to predict what will happen to virtual worlds and the main metaverse currencies in the future. Even though there are a lot of unknowns, we think this list of metaverse games and projects with room to grow will be a great place to start your crypto journey.