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Major Metaverse Projects in Blockchain/Crypto

Updated on :  

08 min read.

In simpler terms, the word ‘metaverse’ describes a completely-realised digital space beyond the one we live in.

Consider metaverse as a digital avatar-based world or a VR universe where you can play games, interact, and experience activities or things like you would in the real world. Some experts even believe that the metaverse is the next big thing in cryptocurrency.

The metaverse is hitting the headlines in technology with a boom in metaverse projects. With that in context, keeping an eye on the major metaverse projects is vital.

Go through the following sections to learn more.

List of the major metaverse projects

Decentraland (MANA)

Hosted on the Ethereum blockchain, Decentraland is a 3D virtual world that is completely user-owned. That allows you to enter it with adequate room to develop your digital infrastructures, applications, settings, avatars and marketplaces. 

Inside this metaverse, you can attend events, shop for your favourite brands, meet new people, play games, develop new business projects and even gamble. You will get a real-world feel while doing all these. That makes this metaverse one of the top projects of its kind.

MANA token is Decentraland’s in-game currency and serves as this platform’s crypto, supporting the entire bustling virtual world. You can easily purchase this ERC-20 token via several top cryptocurrency exchanges. 

Lately, this platform saw a larger integration of eCommerce tools, making it a key destination for marketing and advertising. Though no one can say anything with absolute certainty, crypto enthusiasts can assume that Decentraland will keep growing and stay at the top of the best metaverse projects.

The Sandbox (SAND)

Built on the Ethereum blockchain, The Sandbox is a virtual world similar to Decentraland. This metaverse focuses on gaming and creating original content. 

Inspired by Roblox and Minecraft, the Sandbox uses a 3D voxel approach to allow its players to use their imagination and develop worlds the way they want to. 

Players can interact with other gamers in this virtual world and explore and buy virtual land. In-game items, like land and clothes, are structured as non-fungible tokens (NFTs) and can be traded on its NFT marketplace, ‘The Sandbox Shop’. 

SAND is this platform’s native currency. It is an ERC-20 utility token that you can own, monetise and develop a gaming experience.

Enjin (ENJ)

Enjin stands out from the other metaverse projects as it does not comprise a virtual world containing gameplay features. 

Instead, Enjin provides a platform where you as a creator can easily develop NFTs, which you can then use in metaverse games based on blockchain. 

With the software development kit (SDK) of Enjin, creators of all experience levels can mint Ethereum-based NFTs. This has resulted in the creation of more than 1.1 billion digital assets using Enjin’s system.

Another striking factor in using Enjin to develop NFTs is ensuring a level of liquidity every time. This implies that creators who generate NFTs with Enjin, like virtual real estate, digital art, or in-game items, can ‘melt’ their NFT in return for Enjin Coin (ENJ), the native token of Enjin. The melting value will vary across assets, even though it ensures that no single Enjin NFT be illiquid.

Axie Infinity (AXS)

Inspired by Nintendo’s Pokémon series, Axie Infinity is a monster-battling game where you pit teams of monsters to battle against one another. This team of monsters is called Axies, which belong to you.

This game runs on the Ethereum blockchain with the help of a sidechain, Ronin, that helps minimise transaction delays and fees. It primarily focuses on turn-based battles against live opponents over the internet or Axie teams controlled by the computer.

Along with Pokémon’s fun premise, Axie Infinity includes an ownership element. The Axies yield tangible rewards in the form of Smooth Love Potion (SLP) crypto tokens which you can exchange for money.

Axie Infinity’s native governance token, Axis Infinity Shard (AXS). Presently, you can make use of AXS for payment of breeding fees. In the future, it will be possible for holders of AXS tokens to vote on decisions related to the game and its future development. Also, you can stake AXS tokens to earn rewards in this game.

Axie Infinity plans to gradually shift into a DAO (decentralised autonomous organisation) to allow for community governance.

Gala (GALA)

Gala is a blockchain gaming platform which combines the advantages of NFTs with the excitement of gaming to develop a platform where you can swap in-game products freely. Also, there are several blockchain-based social games on Gala centered on connecting people and developing relationships. Currently, some games you can access are Fortified, Echoes of Empire, Spider Tank, Town Star, and Mirandus. 

The level of ownership and control granted to players forms one of the strong qualities of this blockchain project. This is accomplished via the game’s native digital token, GALA, used throughout the platform for node operator incentives, network governance and prizes. 

In addition, it is used to purchase digital items like NFTs through this game’s shop and player marketplace. As a Gala user, you can modify and design your avatars similar to other games based on blockchain.

Metahero (HERO)

Metahero revolves around developing 3D avatars of real-world objects and individuals using 3D scanning. It claims to have a scanning chamber installed in Doha which scans items and develops a 3D virtual version for the Metahero universe. 

This platform introduces a new concept of ultra-realistic digital clones, which you as a user can personalise and use in several metaverse activities. Every 3D avatar has a photo-realistic face and a life-like body type. These extraordinary AAA avatars result from the 3D modelling partnership of Metahero with Wolf Digital World (WDW). 

Also, you can scan your own body and mint the scan as a non-fungible token which can be utilised in the metaverse. Furthermore, different powers and skills can be incorporated into the avatars. These skills and powers belong to a host of classes like Mentalist, Close Combat Specialist, Spellcaster, Range Combat Specialist, Enchanter, Elementalist and Assassin.

Besides this, you can level up your Recruits and sell or trade the NFT, which powers the account of every Recruit. 

Star Atlas (ATLAS)

Star Atlas is a metaverse project that revolves around a game set in the future – the year 2620. In this project, you as a player can acquire resources and conquer land in a futuristic setting.  

Star Atlas has two coins based on the Solana blockchain – POLIS and ATLAS. ATLAS functions like a standard in-game currency, enabling players to explore new realms, access the marketplace and fight battles. This is particularly significant because all assets in this game are NFTs, except for a few things.

POLIS enables users to take part in “political intrigue”. In addition, you as a player may even outvote the developers and can take game decisions. 

Plus, this game is based on the Solana blockchain, which offers it a significant edge in terms of transaction fees over Ethereum-based ventures. 

Wrapping it up

Lately, the term ‘metaverse’ has grown to become increasingly prevalent. And that is particularly ever since Facebook rebranded to ‘Meta’ late last year. Indeed, metaverse projects can revolutionise the way people interact with each other. Also, such virtual worlds open up pathways for in-game monetisation and digital asset ownership that can transform several industries.

Both the metaverse and the cryptocurrency space are witnessing growth at a dramatic pace. And if you are an investor or an enthusiast, you should keep an eye out for the above metaverse projects.