- The Sandbox introduces blockchain technology to the world of gaming and, like Decentraland, creates a universe where gamers can create and collect NFTs
- Decentraland is a decentralised open economy and free market, which uses the native crypto token called MANA
- Gala Games metaverse is called Town Star, and is a town simulation that can be played in a browser
‘NFT’ was this year’s word of the year according to the Collins Dictionary but another tech word that must have come close was ‘Metaverse’. Perhaps it was because the word didn’t really gain traction until Meta CEO, Mark Zuckerberg announced Facebook’s Metaverse early in November.
Since then, a number of metaverse-related blockchain projects have taken off. Here are five of the best to watch out for as we head into 2022.
Decentraland’s stock has gone through the roof since November despite it being around now for a number of years.
In this virtual world, users have their own plot of land where they can create scenes, artworks, which they can then monetise as NFTs.
Decentraland is a decentralised open economy and free market, which uses the native crypto token called MANA.
Much like Decentraland, The Sandbox creates a universe where gamers can create and collect NFTs.
The Sandbox’s metaverse’s players contribute to the platform’s further development. The users can also contribute their ideas on the development of the project by staking The Sandbox’s native token, SAND.
Of all the metaverse projects, Gala is the blockchain project which has skyrocketed the most, climbing over 460 percent in the past 30 days.
Gala Games plans to reintroduce creative thinking into games by giving players control of the games and in-game assets with the help of blockchain technology.
Gala Games metaverse is called Town Star and is a town simulation that can be played in a browser. This game is like Sim City except in Town Star, the players actually own the town.
Gala Games native token is known as GALA.
Enjin provides an ecosystem of interconnected, blockchain-based gaming products. Enjin’s native token is Enjin Coin (ENJ), which is used to back the value of non-fungible tokens (NFTs). Each token minted with Enjin gives in-game items real-world liquidity.
Axie Infinity has gained popularity throughout the Covid-19 pandemic as lockdowns have pushed millennials, particularly in developing countries, to take up the game full-time.
In Axie Infinity, players are required to collect, breed and battle tiny digital creatures called Axies. These Axies are NFTs that can sell from hundreds of dollars to as much as a million dollars for rare Axies.
Axie Infinity’s native token is known as AXS.
The Future of Metaverse
The Metaverse is just part of the tech revolution which the world is currently on the brink of.
However, there’s always the risk that the Metaverse might not live up to the hype and end up going the way of Google Glass or laserdiscs – both of which were touted as the next big thing.
As mentioned, these five blockchain projects have exploded since November, which means it's possible the current value of these assets doesn’t represent their true value. In other words – a bubble. This means a sell-off could be on the cards.
In any event, the emergence of this new age in technology presents intriguing possibilities.