Since Facebook’s rebrand to Meta and its plan to create a metaverse for business, metaverse-based cryptocurrency projects have gained widespread attention.
The metaverse is an interesting concept, allowing users to interact with each other through avatars and engage in daily activities while experiencing real emotions, blending digital and physical reality.
This article will delve into some of the most exciting metaverse projects of 2022 and what they offer, as well as provide tips on finding the best metaverse projects.
An Overview of the Metaverse
The metaverse is a virtual 3D environment that transforms the internet into an immersive online universe accessible to anyone.
It is a world where people from all over the globe can come together in a virtual space and engage in various activities, such as sharing, exchanging, earning money, developing skills, attending conferences and concerts, and having fun, all through their avatar.
Additionally, the metaverse can be seen as a place where all human, monetary, political, and other interactions that occur in real life will take place.
Exciting Metaverse Projects of 2022
Decentraland is a three-dimensional virtual world that runs on the Ethereum blockchain. Despite being launched in 2020, Decentraland has risen to prominence in the last year as the metaverse has grown in popularity. In this virtual world, players can create avatars and buy plots of land to create rich in-world content.
A vibrant ecosystem where players can monetize their activities can emerge since Decentraland’s in-game items are structured as NFTs. Players in The Decentraland Marketplace can trade various items for Decentraland’s native token (i.e., MANA). Finally, virtual land ownership can provide avenues for monetization because players can use the land for advertising and other reward-producing activities.
The Sandbox, like Decentraland, is an Ethereum-based virtual world where players can explore, buy virtual land, and interact with other gamers. In-game items like land and clothing are structured as NFTs, and they can be traded on “The Sandbox Shop,” which is powered by the game’s transactional token, $SAND.
One of the key features that sets The Sandbox apart from other games is its high level of customization. This is achieved through the VoxEdit service, which allows players to create almost anything they desire and monetize their creations by selling them on the game’s marketplace.
The Otherside is a Metaverse crypto project created by Yuga Labs, the same company that created the iconic Bored Ape Yacht Club. The game’s technology stack is based on the Ethereum Blockchain network, and its digital currency is ApeCoin (APE).
ApeCoin holders can conduct transactions in the Otherside Metaverse. The project offers an engaging storyline to keep users interested and has divided the land within the Metaverse into five different areas: Infinite Expanse, Rainbow Atmospheric, Biogenic Swamp, Chemical Goo, and Cosmic Dream.
Each land type contains unique resources and rare items, encouraging landowners to explore and discover what their land has to offer. The Otherside Metaverse project is still relatively new, but it experienced a highly successful land sale early, raising approximately $561 million.
The Axie Infinity Metaverse Crypto Project is a game that allows users to breed and raise virtual animals called “axies.” These axies are non-fungible tokens (NFTs) that can be bought and sold on the Axie Infinity Marketplace.
The main focus of the game is breeding and raising these axies, which are unique and have their own strengths and weaknesses. Players can also engage in activities such as hunting, battling, and constructing treasures in the game. Unique creations can be quite valuable, making the platform a lucrative option for users.
In the game, players can form teams of five axies and win battles by building well-rounded teams. The game uses AXS as its in-game currency to facilitate transactions. During its initial launch, the value of AXS tokens was around $0.15 per token, but by the end of 2021, it had risen to approximately $165
This blockchain gaming platform utilizes non-fungible tokens (NFTs) in the entertainment industry. The project features a range of blockchain-based social games that emphasize interpersonal relationships and making new connections.
The currently available games in the ecosystem include:
- Echoes of Empire
- Town Star
- Spider Tank
GALA is built on authority and broad ownership. Transactions are conducted using GALA’s coin, which enables rewarding and incentivizing node operators and network management. GALA is also used when purchasing NFT digital assets in in-game stores and player markets.
Metahero combines 3D technology with both physical and virtual experiences to create the metaverse, a digital world filled with personalizable avatars. In partnership with Wolf Digital World, Metahero has added realistic body shapes and facial features to the avatars, enhancing the visual experience.
An interesting aspect of this metaverse is the use of body scanners to create avatars, which can then be transferred using non-fungible tokens (NFTs). Players can also choose from various skills and powers for their avatars, such as wizard, melee expert, psychologist, elementalist, summoner, and assassin.
The metaverse also allows players to recommend new members and exchange NFTs with them. The metaverse operates using the Metahero token, which is gaining popularity as a settlement currency.
Cryptovoxels is a global digital infrastructure and building platform for users to continuously build new products. Assets can be traded on OpenSea for ETH, but Cryptovoxels also has its own currency called Cryptovoxels Parcel (CVPA). Each user on this platform maintains ownership of their virtual land, which is represented as an NFT.
Users can create virtual properties by adding signs, posters, and music or simply sell them. As one of the oldest projects in the Metaverse, Cryptovoxels has managed to establish a strong community that has grown and produced increasingly creative and exciting NFTs over time.
Star Atlas stands out among games that provide a unique gaming experience that hardcore strategists will appreciate by providing a world worth exploring thanks to great visual design and impressive artwork.
It appears to be the most polished compared to many other metaverse projects. While it is difficult to classify it as a metaverse, it is undeniably a large world that will continue to grow in the future.
Despite the raw gameplay that currently requires some balancing, users can own structures, ships, and other intriguing items. With several thousand active players, the game is promising and may fill a void in the crypto gaming industry where strategic games are needed.
Star Atlas utilizes the Solana network and allows all users to participate in the development process through the use of unique native governance tokens.
Things to Note When Integrating Metaverse With Your Business
If you plan to offer products within a decentralized, web-based metaverse, it’s essential to keep in mind that your interactions with customers and stakeholders will change.
To protect your brand, you should establish rules and regulations. Here are a few things to consider when integrating the metaverse with your business:
Create a safe user experience; it is critical to your brand’s image
Your brand’s image must ensure that customers feel safe in an unfamiliar environment. To do this, you should have impartial content moderation teams to guide the customers’ experience and prevent harassment, misinformation, and abuse.
Establishing clear rules and regulations to ensure your brand is protected in the metaverse is important. This will help you maintain a positive reputation and ensure your customers have a positive experience.
It’s also important to be transparent and communicate with your customers regularly. This will help you build trust and establish a strong relationship with them.
Onboard customers; hire and train employees
To provide excellent service, it is essential to onboard customers smoothly and seamlessly, ensuring they have a great brand experience.
Brands that want to effectively incorporate the metaverse into their operations should hire and train staff who can help customers fully utilize and enjoy their metaverse experience.
Provide relevant authorities with insight into business practices
Cryptocurrencies and NFTs may be confusing for those who are not familiar with them. As a result, regulators and authorities may require documentation, such as tax returns, to ensure compliance. This process may require hiring new personnel with expertise in this area.
Compliance with data privacy
Every interaction and transaction you make with a consumer within the metaverse will be documented through the use of blockchain technology for NFTs. It is vital to ensure that adequate security measures and guidelines are in place to protect consumers during their shopping experience within a virtual store. It is crucial to avoid data leaks and to be transparent in data collection.
Overall, integrating the metaverse with your business requires careful planning and consideration. Following these guidelines ensures that your brand is protected and your customers have a positive experience.
- Blockchain-based metaverse projects are increasing in popularity, and with various cryptocurrencies supporting them, it is worth exploring what each project has to offer.
- The cryptocurrency and metaverse markets are rapidly expanding, and predicting which digital worlds and cryptocurrencies will be at the forefront of the most exciting metaverse projects is challenging. However, this unpredictability only adds to the excitement of the current technological revolution.
Disclaimer: This article is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence.
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