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Top 5 Launched And Upcoming Metaverse Crypto Projects Of 2022

Since Facebook’s rebranding to ‘Meta’ in late 2021, the term ‘metaverse’ has been increasingly popular in the cryptocurrency industry.

Crypto projects can revolutionize how people connect by implementing metaverses. Not only that, but these virtual worlds open the door to digital asset ownership and in-game monetization, which has the potential to disrupt a variety of businesses.

This article will analyze the finest metaverse crypto projects for 2022, highlighting their characteristics and value potential for the months and years ahead, to help you gain a better grasp of this burgeoning field.

What Is The Metaverse?

Here’s an experiment to help you understand how nebulous and convoluted the term “metaverse” maybe: In a statement, mentally replace the words “the metaverse” with “cyberspace”.  Ninety percent of the time, the meaning will not vary significantly. This is because the phrase refers to a broad shift in how we engage with technology rather than a single form of technology. Even when the specific technology it originally described becomes mainstream, it’s very feasible that the name may become obsolete as well.

Virtual reality, which is characterized by persistent virtual environments that exist even when you’re not playing, and augmented reality, which blends features of the digital and physical worlds, are two technologies that make up the metaverse. It does not, however, necessitate that those areas be only accessible through VR or AR. A virtual environment that can be accessed through PCs, game consoles, and even phones, such as Fortnite, might be metaverse.

Also Read: A Beginner’s Introduction To Metaverse

The Top 5 Crypto Projects for 2022 in the Metaverse

Five of the most fascinating metaverse crypto projects with the highest potential in 2022 are listed below. In the following part, we’ll look at each of these projects individually to see why they’re considered to have such high-value propositions.

  1. Silks: 2022’s Best Metaverse Crypto Project
  1. Decentraland: A 3D Metaverse with Monetization Potential
  1. Enjin: An Easy-to-Use Metaverse Platform for Making NFTs
  1. The Sandbox: An Exciting Metaverse Project with a Lot of Customization
  1. Bloktopia: A VR-capable skyscraper-based metaverse project.

Also Read: Top 7 Metaverse Cryptocoins in 2022

A Look at the Most Exciting Metaverse Projects in More Depth

The projects listed above have enormous potential for change, particularly in the emerging field of play-to-earn (P2E) gaming. Let’s take a closer look at each of these projects, examining the details that make them so intriguing.

1. Silks: 

Silks is a new metaverse project that aims to build on the success of past P2E games and go much further. Simply said, Silks is a blockchain-enabled peer-to-peer (P2P) game that will have a rich metaverse centred on the thoroughbred horse racing industry.

Players can buy avatars and Silks horses, which are digital versions of real-world thoroughbred horses that are structured as NFTs, in this metaverse. Silks are now ready to provide a self-sustaining marketplace where players can exchange Silks horses and benefit from the increased value.

The connection to real-world horses is established through the use of comprehensive datasets comprising information on the thoroughbred horse’s bloodline, development history, and racing results, which is an interesting feature of these Silks animals.

Although these datasets will be centralized at the beginning, as Silks grows and the user base expands, they will become completely decentralized. A Proof-of-Stake (PoS) consensus process verifies the data required to form this link between Silks horses and the actual world, rewarding miners with $SLK, Silks’ governance token.

When a Silks horse’s real-world counterpart retires and becomes a broodmare or stallion, Silks players can earn ‘breeding prizes.’ Because a fresh crop of Silks horses will be minted each year to correspond with yearling (one-year-old thoroughbred horse) auctions, any progeny from the retired animal that is sold on the market will earn the owner of the parent Silks horse $STT.

2. Decentraland: 

3D Metaverse World with Monetization Possibilities

Decentraland is another fresh metaverse crypto project to keep an eye on. The Ethereum blockchain hosts Decentraland, a 3D virtual environment. Decentraland, which was first introduced in 2020, has risen to prominence in the last year as the metaverse has grown in popularity. Players can create avatars and buy plots of land in this virtual environment, which they can use to generate rich in-world content.

Because Decentraland’s in-game items are structured as NFTs, a thriving ecosystem can emerge where players can profit from their efforts. Players can trade numerous items on the Decentraland Marketplace, which are all denominated in $MANA, Decentraland’s native token.

Finally, virtual land ownership can lead to monetization opportunities, as gamers can use the area for advertising and other revenue-generating activities.

Finally, virtual land ownership can lead to monetization opportunities, as gamers can use the area for advertising and other revenue-generating activities.

3. Enjin: 

User-Friendly Metaverse Platform for Creating NFTs

Enjin is a one-of-a-kind metaverse project since, unlike the others on this list, it does not include a virtual world with gameplay elements. Enjin, on the other hand, provides a platform for producers to quickly create NFTs, which they may subsequently employ in blockchain-based metaverse games. The Enjin software development kit (SDK) allows anyone with any degree of experience to create Ethereum-based NFTs, resulting in over 1.1 billion digital assets being created on Enjin’s platform.

One of the most compelling aspects of using Enjin to develop NFTs is that it maintains a constant level of liquidity. 

This means that creators who use Enjin to create NFTs like digital art, in-game products, or virtual real estate may always melt their NFT for $ENJ, Enjin’s native token. The melting value will vary depending on the asset, but it will ensure that no Enjin NFT is ever illiquid.

4. The Sandbox: 

An exciting metaverse project that allows for a lot of customization.

The Sandbox is an Ethereum-based virtual environment similar to Decentraland where users can explore, buy virtual land, and communicate with other gamers. NFTs are used to create in-game products like clothing and land, which can be traded on ‘The Sandbox Shop,’ the platform’s NFT marketplace. The Sandbox’s transactional token, $SAND, powers this marketplace.

The Sandbox, on the other hand, stands out from similar games by providing unrivalled degrees of customization. The Sandbox accomplishes this in part using the ‘VoxEdit’ service, which is a 3D voxel modelling and NFT creation software. Finally, The Sandbox players will be able to construct pretty much whatever they want, with their inventions being able to be monetized by selling to other players via the Sandbox’s marketplace.

5. Bloktopia: 

A VR-capable skyscraper-based metaverse project

Bloktopia is an innovative metaverse project based on the Polygon network that is set to start in 2022. As a nod to the entire quantity of 21 million Bitcoins, the Bloktopia metaverse centres around a tower with 21 levels. Bloktopians, the game’s participants, will be able to buy real estate in this virtual skyscraper and earn money through value appreciation, leasing, or even digital advertising.

Bloktopia’s primary distinction is that the metaverse will be VR-based, implying that users will almost certainly need a VR headset. This creates a lifelike experience that computer-based games can’t match, as well as fascinating content production opportunities.

The Bloktopia team has revealed that avatars and other in-game items would be structured as NFTs and denominated in $BLOK, the Bloktopia transactional token, even though the project is currently in development.

Conclusion

To summarize, this article explored the top metaverse crypto projects in 2022, their features, and why they have such high potential.

Given its fascinating P2E aspects and novelties to the real world of thoroughbred horse racing, Silks’ new metaverse project is certain to make headlines this year.

Furthermore, Silks’ decentralized nature will appeal to a broad target audience and create opportunities for community members to earn steady money through mining, thus enhancing Silks’ value proposition.