Did you watch the movie “Ready Player One”. I would highly recommend you go and watch. The metaverse is inevitable, whether you hate it or like it. Metaverse has been a talk of the town in the tech world after Facebook rebranded itself as Meta and opened a whole new chapter for the tech world to actively invest in the concept and bring it to reality rather sooner.
What is Metaverse?
Metaverse is a virtual world where you can explore places, meet people, attend concerts, visit galleries, buy land, build your house, and do many of the things you might do in the real world. To really plug into Metaverse, you need special VR glasses like Oculus or Sony VR or many such in the market now. However, if you don’t have glasses, you can still be part of metaverse but you will not get that immersive experience that you can with VR glasses.
If you are a Fortnite (EPIC Game) fan, you must be aware that more than 10 million people watched a virtual metaverse concert of Marshmello inside the game last year. It was the biggest event in history.
Top 5 Metaverse Crypto
You must be wondering how metaverse is related to crypto. Well, when you plug into a metaverse, you get yourself a digital identity, an avatar and you interact with digital objects. When you buy a ticket to an event, it’s a digital transaction and your purchase of a piece of land makes you the owner of a digital asset. So, you can guess, the best way to transact in a digital world, there is no better alternative than digital currency and digital asset ownership (NFT). And hence two are related. MetaKovan, an NFT collector, bought the most expensive NFT, Beeple NFT for a whopping $69M to put it on metaverse as a showcase.
Also, read - Top 5 NFT marketplace you must know in 2021
Below we have listed down the top 5 metaverse crypto that you should definitely watch in 2022.
1. The Sandbox ($SAND)
Founded in 2011 by Arthur Madrid, Sandbox is a virtual world where players can build, own, and monetize their gaming experiences. Sandbox is built on the Ethereum blockchain and uses the $SAND token, the main utility token of the platform for transacting in the virtual world. $SAND token is one of the highest performer tokens of 2021 with an overall gain of nearly ~3236.8% in one year and it is currently traded at $3.11 at press time.
It offers a suite of tools, tailor-made to empower artists, creators, and users to come together and design engaging experiences across the Sandbox metaverse. Players can also come together in a social hub and make friends. There is an enormous amount of things to explore while in Sandbox metaverse. It also has around 166,464 unique pieces of LAND, each belonging to a user.
The Sandbox gaming ecosystem primarily consists of 3 major products that provide a comprehensive experience for user-generated content (UGC) content production. VOXEDIT helps users create 3D NFT assets that can be traded on the NFT marketplace. GAME MAKER helps anyone create engaging games and monetize them with no code and GAME CLIENT that brings people together to play games, explore art, meet new people, and explore the Metaverse.
2. Decenterland ($MANA)
Decentraland was created by Argentinians Ari Meilich and Esteban Ordano in 2015. It is a 3D virtual world where you can buy virtual land, make friends, and do a lot of activities. It uses a cryptocurrency named $MANA for supporting transactions on the metaverse. $MANA token rose by a whopping 1511.0% in last 1 year and currently traded at $2.48 a token.
In Feb 2020 it was open to the public and is now overseen by the nonprofit Decentraland Foundation. Decentraland is the first fully decentralized virtual world. It was always part of the original vision to hand over control to the people who create and play in this virtual space.
So the users through the DAO (Decentralized Autonomous Organization), controls how the world behaves: for example, what kinds of wearable items are allowed (or disallowed) after the launch of the DAO, moderation of content, LAND policy, and auctions, among others.
3. Enjin ($ENJ)
Enjin was founded by Maxim Blagov and Witek Radomski in 2009 as a community gaming company. In 2017, Enjin raised about $18.9 million by selling ENJ tokens through ICO to build its new blockchain.
Enjin allows developers to create and manage virtual goods on the Ethereum blockchain. Enj SDK allows users to create digital assets as well as integrate them into games and apps. Doing this Enjin also helps reduce the high fees and fraud that have plagued the transfer of virtual in-game goods and collectibles.
Each minted asset is nothing but an NFT and gets recorded in a smart contract, giving the items the advantages of cryptocurrency, namely speed, cost, and security. Enjin’s crypto token ENJ provides value to all digital assets created on its platform. ENJ token also saw a multifold growth in one year and rose by 396.0%. It is currently traded at $1.77.
Enjin also launched Efinity, the next-generation blockchain for non-fungible tokens (NFTs), built using Polkadot. It is believed to be more technologically advanced than other NFT chains.
4. Render ($RNDR)
One key component to scale the Metaverse to billions of people is the immense amounts of off-chain computation to render trillions of digital objects in high fidelity. That’s where Render comes into the picture.
Render Network allows digital artists to pay for pooled computer rendering power. It means distributing complex GPU-based render jobs over a large, distributed peer-to-peer network for a scalable and faster operation that is not possible with a single vertically upgraded system.
Render Network uses the $RNDR token to pay operators for pooling their idle GPU. RNDR token grew by 2776.0% in the last 12 months and it is currently traded at $3.30 a token.
5. Bloktopia ($BLOK)
Blocktopia is another decentralized Metaverse backed by Polygon. It will act as a tokenized
decentralized VR Crypto Skyscraper that is made up of 21 levels to pay recognition to 21 million Bitcoin.
It will act as a central hub and welcome all levels of the crypto experience. For the first time ever, users will have access to crypto information and immersive content all in one place. Bloktopians will be able to earn revenue through real estate ownership, advertising revenue, play games, building networks, and much more.
$BLOK is the native token of Bloktopia. BLOK will be required to purchase or lease all real estate within Bloktopia.