Metaverse is the new concept in the world of tech. The hype around meta increased when in 2021, Mark Zuckerberg announced that his company Facebook is Changing its name to Meta. Let’s understand what is Metaverse?
Metaverse is a virtual universe. You can virtually do anything and everything in the metaverse that you do in the physical world. Things like, buying lands, building houses, breeding pets, selling your arts, selling your house, etc are made possible with virtual money. So, the Metaverse is the essence of your virtual Social Experience. You can interact with others using digital avatars.
The Term Metaverse was coined by Neal Stephenson in his 1992 Novel Snow Crash. Metaverse is a three-dimensional space where you can do all your social activities and experience them through multisensory technology. So you do not leave your physical space yet you experience everything in real-time. A perfect example of Metaverse is the Movie “Ready Player One.
Metaverse is the future of the Internet with a mix of Augmented reality. Users can experience things from a first-person perspective in the Metaverse. Now you must be wondering what is the impact of Metaverse on the real world?
Well, the money you earn in the metaverse can be used in the real world. Your lands, houses, avatars are worth the real money. Hence the Metaverse oriented reality will change the world as we experience it.
Also Read: A Complete Guide to Crypto NFTs in 2022
Metaverse projects are attracting investors around the globe. Many crypto metaverse projects like Axie infinity (AXS) and Decentraland (MANA) are growing in the gaming industry. MANA and AXS tokens are used in the Metaverse to buy game players, products and lands, etc. You can also earn these tokens while playing games.
Here are the top 3 Metaverse projects that you should watch out for in 2022.
Axie (AXS) Infinity
Axie Infinity is a play-to-earn game that is partially owned by its player. This is one of the features of Metaverse where people can play the game and earn rewards or tokens which can be sold or traded for money.
Axie infinity was founded by Sky Mavis in 2018. The other two co-founders include Trung Nguyen and Aleksander Larsen. All three of the founders have collective experience in game development, blockchain gaming, and software technology.
Axie Infinity is based on the Ethereum blockchain.
The players of the Axie infinity game raise, breed, and battle the Axie creatures. These creatures are based on non-fungible tokens. You can sell them in the Axie Marketplace.
Future of Axie Infinity:
Axie has gone from $0.50 to $160 in a course of 11 months since the launch. The development team of AXS is also working to make new innovations and include new features in the blockchain. Soon, Axie infinity holders will be able to stake it and earn rewards. So, Axie Infinity is one of the projects that you should watch out for in this Metaverse Hype.
Decentraland is another excellent Metaverse project. It was launched in 2017. It is basically a virtual world where you can go and purchase virtual lands. Buying and selling virtual land is made possible with the $MANA token. The users can create unique 3D experiences on their land and monetize them.
Founders of Decentraland:
Ariel Meilich and Esteban Ordano had collective experience in Silicon Valley and Blockchain Industry. The developments are consistently ongoing in the Decentraland project. The current team wants to establish Decentraland Foundation.
In the Decentraland Metaverse, there are thousands of Parcels of LAND. An ERC 721 Non- fungible token represents each parcel. Additionally, each Parcel of LAND is divided into districts of different sizes and themes. The users can turn their LAND into whatever they want.
Future of Decentraland:
The native token of Decentraland, MANA reached an all-time high of $5.88 in the last few months. It is currently in 24th position according to market cap. Since its launch in 2017, Mana has steadily increased in price. Decentraland is a secured futuristic Metaverse project. If you are interested in Metaverse then watch out for $MANA in the coming weeks. You know how the crypto market works, The good news about a project can pump its price and the bad news can take the price down. So, remain careful on that matter. Besides that, Decentraland is a good project in my opinion.
SandBox is another Crypto Metaverse project that hit an all-time high last week. it is a virtual world platform where users can create, purchase and sell their digital art in the form of games. It also has Play to-earn model so you can basically create your own game or play other games to earn rewards. Sandbox platform incorporates both Non-Fungible Tokens and Decentralized Autonomous Organizations (DAO).
Sandbox was founded by the Co-Founders of Pixowl. It was founded in 2011. Both founders have experience in the Computer industry.
Gamers can create and collect Blockchain-based assets on the SandBox platform. It is decentralized and gamers have a say in the development of the project to the next level. Sandbox brought a revolution in the world of gaming with blockchain technology. It had the support of the first-ever famous NFT project, CryptoKitties.
Future of Sandbox:
Along with other Metaverse projects, Sandbox also has a bright future. It reached a whopping $8.4 in November. The platform is ever-evolving as per the opinion of creators. Moreover, SandBox also had partnerships with the famous TV show, The Walking Dead and OpenSea in recent days. With all these new partnerships and fundraising, I believe Sandbox is among the good Metaverse projects. So, you should watch out for it and invest at the right time to make the best of your investment.