Metaverse is a virtual universe that exists even when you are not playing Fortnite. It can also contain augmented reality, which blends digital and physical worlds, like ‘Pokemon Go. In the crypto sense, it is a virtually generated environment on a blockchain that uses blockchain network concepts. Its value comes from following these beliefs and principles. For example, Decentraland, The Sandbox, Axis Infinity, Etc., are met-averse initiatives. This article discusses top metaverse crypto projects.
1. AXIE (AXS)
Sky Mavis, a Vietnamese gaming studio, produced Axie Infinity in March 2018 using non-fungible tokens. It is the best metaverse crypto project for its Ethereum-based (ERC-20) in-game economy. Axie Infinity players can collect and mint ‘Axis’ NFTs. In-game pets can be bred and fought. Sky Mavis charges players 4.25 percent to trade Axis on its marketplace. Sky Mavis constructed Axie Infinity using the Ethereum-linked Ronin Network, Smooth Love Potion (SLP), and Axie Infinity Shards are its primary tokens (AXS), a game-created token issued to players for winning PVP matches, while AXS is a governance token given to holders and top players that may be staked or used to construct new network protocols.
Axie Infinity has a few pitfalls, in any case. Axie Infinity became popular after Covid-19 when people who lost their employment could make money playing a game. It has had problems, however. In March 2022, hackers stole $620 million in AXS and ETH tokens from the Ronin Network. It is a big blow to stakeholders, investors, and players alike and resulted in a loss of faith, which was also reflected on the price charts. It has lost approximately 92% of its value from its all-time high back in November 2021. It is worse than most significant cryptos.
2. Decentralize (MANA)
Browser-based 3D virtual world Decentraland. Decentraland users can buy NFTs using its native token, MANA, which operates on Ethereum. Ari Meilich and Esteban Ordano developed it from 2015 to 2020. Decentraland Foundation oversees it. During 2017’s ICO boom, its token raised $26 million. During the recent 2021 bull run, and even in early 2022 – prominent brands began to appear in Decentraland metaverse crypto ventures or bought “properties” in it. Sotheby’s staged its first metaverse auction, while Decentraland organized Metaverse Fashion Week in March 2022. Its native token, MANA, saw the fastest price increase when Facebook declared on 28 October 2021 that it is rebranding as Meta and entering the metaverse market. Since then, it has fallen 86% from its highs.
3. The Sandbox (Sand) (Sand)
The Sandbox has a significantly older history than most blockchain-based metaverse initiatives in the crypto industry, it began as a 2D open-world sandbox game in May 2012 for iOS and Android, and Animoca Brands acquired it from Pixowl in August 2018, and after the acquisition, they focused on a 3D blockchain-based game. This updated version lets users create, purchase, and sell NFTs. The Sandbox Marketplace beta allowed users to buy in-game NFTs from 46 artists in April 2021, partnered with The Smurfs, CryptoKitties, and Shaun, the Sheep. The Walking Dead and Snoop Dogg joined in 2021, making Sandbox a top crypto project in 2022. SAND is a favorite with hobbyists and merchants. In 2021, it soared almost 800% between October and November. Like other coins, it succumbed to market bearishness and has been sliding.
4. Apecoin (APE)
Launched on 17 March 2022, this metaverse coin has taken the industry by storm. Soon after launching and airdropping ApeCoin to BAYC NFT holders, Yuga Labs announced a metaverse crypto project using ApeCoin. This announcement, which broke in April 2022, boosted the token’s value and made it the largest metaverse coin by market cap. Since then, it is plunged 83% and is now the third largest metaverse coin by market cap. A DAO administers this metaverse coin, and everyone owning it can vote on governance choices.
5. Enjin Coin (Enj)
Enjin Coin is an Ethereum-based token that lets you buy assets in Enjin-linked metaverses. Their website lists forth a lot of blockchain-based games which are tied to the Enjin ecosystem. It enables purchases of NFTs and other collectibles from those particular blockchain games, making it one of the best metaverse crypto ideas in 2022. Whereas most top metaverse coins are related to merely their parent metaverse projects, Enjin Coin can provide considerable worth because of its ties with several networks. For example, you can store Enjin on any Ethereum crypto wallet, such as Metamask. It has its Enjin wallet for associated NFTs.
6. Wax (WAXP)
WAXP is an upcoming WAX blockchain metaverse coin, WAX Metaverse was created to stake WAXP for staking incentives and provide holders governance powers in future proposals. It can also be spent in WAX blockchain games. You can sell in-game assets as NFTs to make money. In addition, they have eliminated trading fees to encourage trading NFTs on the carbon-neutral WAX blockchain.
7. PlayDapp (PLA)
PLA is a blockchain-based game’s in-game ERC-20 token and share assets. You can enhance and sell your accumulated asset to make money. For example, the firm and game developers split the transaction cost for purchasing and selling assets in the metaverse marketplace.
8. Yield Guild Games (YGG)
YGG is a play-to-earn metaverse crypto initiative for gaming guilt that uses blockchain-based virtual economies. It is a DAO that invests in non-fungible tokens (NFTs) for virtual works and blockchain-based games.
9. Metahero (Hero)
This metaverse crypto project uses 3D scanning to create HD avatars of real-world objects and people. This startup erected a scanning chamber in Doha to digitize artifacts for the Metahero metaverse. The coin HERO has a $43 million market cap and ranks 392 as of July 2022. This metaverse crypto project is new. Hence it has fewer tokens than others on this list.
10. Star Atlas (Atlas)
Star Atlas is a crypto project based on the same-named game involving space exploration, geographical conquest, and political dominance. The game is around 2620, where players can conquer land and harvest resources.
