The Metaverse is trending. Among all the discussions today about the blockchain metaverse and crypto projects, the definition of Metaverse takes the first place. Metaverse – The convergence of the physical world with virtual and augmented reality has accelerated the pace, causing disruptions in various sectors of the economy around the world.
The Metaverse is the next iteration of the Internet, representing a revolutionary virtual world built on the blockchain.
Metaverse today and tomorrow
Interestingly, many people doubt the possibility of the growth of the metaverse in the future. On the contrary, the metaverse is steadily evolving at an impressive pace. New projects continue to emerge along with connecting to each other to bring together different aspects of the digital life of users. However, a promising moment in the development of the metaverse is the decisive role of the blockchain.
How do cryptocurrencies and blockchain fit into the metaverse? Will blockchain-based projects in the metaverse bring any improvements to the new concept of a fully virtual ecosystem?
Interactions between Crypto and the Metaverse
At the moment, most metaverse projects are practically games that offer a three-dimensional aspect of the metaverse. However, there are many other elements needed to build a metaverse. Blockchain or cryptocurrency can replace the missing part of the metaverse, offering many key features.
Growing additions to the list of metaverse crypto projects directly imply an increase in the performance of blockchain or cryptography in the metaverse. Here are some of the key aspects of blockchain or cryptography that fit the intended design of the metaverse.
Proof of ownership
Blockchain offers digital proof of ownership of assets in the metaverse. You can own a crypto wallet and your private keys can prove your ownership of assets or actions on the blockchain. Thus, metaverse crypto projects can have reliable and highly secure methods for proof of ownership and digital identity.
Transfer of value
Another important factor necessary for the metaverse is the ability to transfer value. In addition, the metaverse needs a method of transferring value that ensures the trust of users. For example, cryptocurrencies are more secure on the blockchain than the in-game currencies of multiplayer games. Thus, the cryptocurrency can definitely become a reliable currency for users interested in a long stay in the metaverse.
The feasibility of the best metaverse crypto projects also depends on the interoperability element that blockchain provides in the metaverse. Blockchain can provide interoperability between different spaces in the metaverse. For example, projects like Avalanche and Polkadot allow users to create their own blockchains that can interact with each other.
In a digital world that looks like the real world, there are bound to be rules, and the metaverse is no exception. Users will primarily focus on the ability to control the rules for interacting with the metaverse. Blockchain offers an ideal framework for fair and transparent governance in the metaverse.
The uniqueness of collectibles
The most important aspect of the blockchain metaverse and crypto projects will be digital collectibles. You will need to show the uniqueness and originality of the assets in the metaverse for the proposed actions in real life. NFTs can help create 100% unique assets, and blockchain technology can provide a perfect representation of ownership of physical assets.
Top 8 Blockchain Projects in the Metaverse
Here are the blockchain projects leaders in the Metaverse today (information is being supplemented). The term “Metaverse” is a combination of two prefixes: “meta” which means “behind, beyond or more comprehensive” and “verse” which comes from the word “universe” which means “region or sphere”.
In other words, the metaverse is building a bridge between the virtual and the real world, using the power of decentralized finance and NFTs, allowing them to interact closely. As the metaverse market continues to expand, we may see more great new projects pop up in the digital space.
One of the pioneers of the metaverse built on the Ethereum blockchain. Decentraland (decentraland.org), is an almost three-dimensional universe. The 3D universe allows players to develop areas of virtual real estate as well as participate in many other activities. Players can also host events, participate in social events, and create content on Decentraland.
Decentralized has the necessary features that confirm its entry into the list of metaverse crypto projects, such as a 3D interface. Other features of Decentraland that fit with the metaverse include in-game events, the digital economy, and elements of social interaction. In addition, Decentraland has recently been gaining unprecedented popularity for NFT virtual real estate on a platform known as LAND.
Bloktopia (bloktopia.com) is a virtual reality metaverse game where you play in a skyscraper environment. The skyscraper has 21 floors, which equates to a maximum supply of 21 million bitcoins. It mainly aims to offer a center in the metaverse for communication, work, events, and many other activities. Bloktopia uses the Polygon blockchain for its four core functions of learning, earning, playing and creating.
The four distinct features provided by the blockchain in Bloktopia confirm its position among the leading blockchain projects in the metaverse at the present time. It can serve as a vital gateway to learning about the blockchain and its significance in the metaverse. Bloktopia also uses a “play to earn” model through its native BLOK token. In addition, it also provides advertising opportunities with Adblok and also makes it easy to sell real estate through Reblok. In addition, users can also play a wide range of user-created games along with content and create their own gaming environments.
Sandbox Metaverse (sandbox.game/en) is practically a blockchain game in the metaverse that allows users to explore the virtual world. The virtual world in Sandbox includes NFTs, user-created environments, and other content. Sandbox has evolved into a complex environment that uses Ethereum and its native SAND token to power the in-game economy.
Players can create their own digital avatars and identities, which they can link to a crypto wallet to manage their NFT and SAND tokens, as well as other blockchain assets. Through powerful programs, players could create virtual items and games with exceptional economic potential in the form of NFTs.
The Enjin name is also an important addition to the list of metaverse crypto projects due to its unique capabilities. It is a blockchain platform that helps users create NFTs that they can use as in-game items. Enjin has successfully released software development kits or SDKs to facilitate the development of Ethereum-based NFTs. As NFTs have become an integral aspect of the metaverse, Enjin is committed to developing a secure NFT creation platform.
The most striking aspect of Enjin as one of the best blockchain projects in the metaverse is the liquidity of NFTs. Typically, NFTs suffer from illiquidity as you must find a buyer for the NFT. On the contrary, you can convert your Enjin NFT to ENJ tokens and get the desired value for your NFT. In addition to providing liquidity, Enjin also promotes scarcity and digital collectibility, thus qualifying it for the metaverse.
One of the most innovative crypto projects in the metaverse is Star Atlas (play.staratlas.com). It is a new gaming metaverse built on top of multiplayer video games, real-time visuals and experiences, decentralized financial technologies and blockchain. One can clearly see how Star Atlas is bridging the gap between the metaverse and blockchain technology in its foundations on the Solana blockchain.
The Star Atlas gaming metaverse allows users to purchase digital assets such as land, equipment, ships, and crew. In addition, Star Atlas also has an in-game money system known as Polis, which mainly serves various in-game procedures. With so many unique features and promising features, Star Atlas could quickly rise to the ranks of the best crypto projects in the metaverse in the future.
Axie (axieinfinity.com) – virtual reality monster battles. Unlike Sandbox or Star Atlas, AxieInfinity goes in a different direction: monsters and creatures that can be bought, traded, bred, upgraded, and more. If Star Atlas is the metaverse’s answer to Star Atlas, and Sandbox is comparable to Second Life, then Axie could be a metaverse that rivals Pokemon.
The building blocks are already there. The genre already has digital collectibles and use of the blockchain (again, the ethereum blockchain, but this time with its own metaverse token, amazingly known as “smooth love potion”).
While we wouldn’t say it’s the best example of the metaverse – the graphics could be better, and it doesn’t take full advantage of VR like the others on this list – it’s true digital proof that the concept can work.
Meta Hero (metahero.io) has brought modeling and 3D scanning to the metaverse by partnering with Wolf Studio. Wolf Studio is the Big Four equivalent of the 3D scanning industry. The partnership will enable extensive testing on several of the most in-demand games such as CyberPunk 2077.
Their seamless technology allows users to turn their real assets into NFTs. If you thought 4k HD scanners were enough for you, then you will be stunned to know that an upgrade to 16k ultra-HD scanners is planned.
Scanning and royalty payments can be made using HERO, their utility token. Playable character creation, printing, and scanning can be done in the metaverse using unique metascanners.
Somnium Space (somniumspace.com) provides users with unique 3D avatars. These avatars are used in many NFT collections as the NFT industry continues to grow. The most interesting thing is that through the Somnium WebXR platform, any user can access any secluded corner of the metaverse.
What makes the Somnium space special? The project is unique in the sense that users can create the scenes they want and set up full-length avatars on their plots. While most of the metaverse projects are based on the Ethereum chain, Somnium has taken the help of Polygon.
The CUBE token is what fuels this platform and players can easily transfer assets. If you want to diversify your investments in metaverse coins, this would be a good addition to your portfolio.
The Metaverse is the biggest trend in the technology world right now. Facebook’s rebranding to Meta and the skyrocketing value of Metaverse tokens provide important proof of the Metaverse’s feasibility. In addition, metaverse blockchain projects offer the right motivation for bringing blockchain and the metaverse together.
However, we are still in the early stages of the development of the metaverse. At the same time, the number of metaverse projects is also increasing significantly. Blockchain can provide the necessary features required in the metaverse, such as interoperability, security, ownership, and decentralization.