The crypto community has recently seen an increased interest in the metaverse. A virtual reality where people can still carry on with their daily activities happens to be the dream of many. Even Bill Gates has predicted that the metaverse will replace Zoom in work meetings in a few years.
Since digital reality became popular in 2021, investors have been looking for the top metaverse projects in 2022 to pump money into. Honestly, it’s a good investment as there’s a lot of money to be made in the metaverse, asides from investing and waiting for the value to increase. For example, you can play games to earn money or even buy land and lease them.
However, there are so many projects on the metaverse that deciding which one to invest in may be a hassle. You can go through many crypto communities to search for the right option, but the best to trust is Coin Market Capitalization. They have been listing reliable and profitable coins for years. Therefore, this article will show you the top metaverse projects to invest in as listed on Market Cap.
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Top Metaverse Projects in 2022
The new year ushered in a lot of investment talk, and the metaverse happened to be at the top of the list of worthy investments. There are tons of metaverse projects, and deciding the best depends on various factors (will be discussed later). So, let’s look at some of the top metaverse projects in 2022.
Axie Infinity, also known as AXS, is a blockchain game created in 2018 by Sky Mavis. Despite being created four years ago, the game didn’t gain traction until 2021, when the concept of metaverse started becoming popular. The game was one of the pioneers of play-to-earn and made waves on the news when people started generating income. One of the reasons investors are interested in this project is due to its efforts to bring the play-to-earn concept to life.
Due to the recent trends in the cryptocurrency market, the AXS token is worth $4.5B. The cost of playing the game is 3 Axies. It’s important to mention that the token partners with Binance, HTC, Kyber Network, Samsung and Ubisoft.
Decentraland takes its inspiration from life-simulation video games like The Sims. When the crypto gaming community started suggesting the idea of a virtual life project, many developers stepped forward with their ideas and Decentraland wasn’t left out of the picture. Even though it was created five years ago, it started gaining popularity about a year ago and has successfully become one of the top metaverse projects in 2022.
The project keeps users entertained by providing them with simulations during their leisure time. It encourages and normalizes the buying and selling of virtual lands in the metaverse. Users can also visit themed districts and virtual events. MANA is currently sitting at a market capitalization of $5B and partners with Binance, Blender, Samsung Electronics and Under Armour.
Bloktopia is a metaverse project with a leading idea of shifting the world’s focus from reality to a virtual world. It is a skyscraper in the metaverse that consists of 21 levels representing the supply of Bitcoins (21 million). Bloktopians (BLOK holders) have access to various facilities on the platform, which are aimed at mimicking the real world. At the moment, the market cap is $263 million due to the bearish trend in the market. The project partners with companies like Avalanche DuckDAO, KuCoin Labs, Polygon Network, CoinMarketCap, and Shima Capital.
Chromia is one of the oldest metaverse platforms in the crypto community and has gained relevance amongst crypto geeks. It was launched in 2019 by ChromaWay and has since powered other popular metaverse projects, including My Neighbor Alice and Mines of Dalarnia (a play-to-earn game). The project partners with Revolve Games, Lingon, CapChap and LAC PropertyChain. CHR is currently at a market capitalization of $458 million.
Unlike the other projects discussed in this article, MyNeighborAlice (ALICE) is an emerging play-to-earn game. It means that the game hasn’t been launched yet. However, the game’s concept involves collecting NFTs, which players can trade inside or outside the gaming environment.
Players within the ALICE environment can purchase plots of land as plenty of islands are available. Players can then trade their lands as NFTs. Plus, individuals can customize their properties within the game. Around the fourth quarter of 2021, the market cap of ALICE was $870 million – a significant figure for one of the metaverse projects in 2022 that hasn’t even been launched. However, the current market capitalization of the metaverse project is $300 million.
RedFox (RFOX) is a service-based metaverse project focused on improving users’ experience in the retail, media, gaming and rewards aspects of the virtual world. It was launched in 2021 and is now the first blockchain venture builder in Southeast Asia. The idea behind RFOX is to develop several business ventures within the metaverse. RFOX is valued at a market cap of $100 million.
The Sandbox (SAND) was launched in 2012 with the goal of connecting gamers worldwide. By 2015, it was already launched on mobile and Windows platforms and Steam. In 3019, Animoca Brands purchased Sandbox and eventually used it in a blockchain-based metaverse world.
The project enables users to purchase lands as NFTs in the metaverse. By the end of the first quarter of 2021, the value of the project was $500 million. The current market cap of SAND is $3.3 billion. SAND partners with companies and individuals like Snoop Dogg, Adidas, Walking Dead, etc.
Star Atlas has one purpose – to develop a space-themed metaverse. It was launched in 2021 and is a top metaverse project in 2022 to follow. ATLAS presents itself as a strategic game of space exploration, territorial conquest, and more. Most of the digital assets in this metaverse are tradable NFTs. The total market cap of ATLAS at the moment is $138 million.
SushiSwap was launched under Uniswap in 2020 as a metaverse token and DeFi exchange. Initially, it was a token swap but has broadened its reach to lending, farming, etc. At the beginning of 2021, the token started off with a total market cap of $593 million. However, due to the recent trends in the market, the total market cap of the token is $450 million.
Factors to Consider Before Investing in the Virtual World
The metaverse is a worthy investment. However, consider the following factors before investing. Remember, you still have to do more research before making a decision:
● The metaverse is a virtual world.
● The market changes, which means that you are taking a risk.
● The metaverse is similar to the real world because it mimics real situations. However, it is not regulated, so people can do whatever they like and get away with it.
As much as we love the metaverse, it’s essential to share the downsides. The metaverse offers endless opportunities but comes with unavoidable risks. Plus, everything in the metaverse is controlled by technology. You should ask if you want your reality in a digital world to be controlled by tech giants.
The metaverse is a great place to keep your funds. However, there are plenty of metaverse projects in 2022 which may be hard to choose from. This article highlights the top nine projects according to market cap. At Blockwiz, we are committed to providing you with accurate information on cryptocurrency and the metaverse. If you are still confused about what metaverse project to choose, reach out to us now!