Five metaverse crypto projects for 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.
According to Adam Back, the CEO of Blockstream and a crypto developer, Bitcoin’s value might surpass $300,000 in the next five years. People prefer virtual assets as banking organizations issue more and more fiat money in the face of fast-rising global economic challenges. Cryptocurrencies are about to enter a golden age, according to the expert. Other cryptocurrencies have recently begun to emerge as strong contenders. For example, the Monero cryptocurrency is now one of the most promising, and you can use an exchanger to convert btc to xmr.
This article will analyze the most exemplary 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.
- Silks – 2022’s Best Metaverse Crypto Project
- Decentraland — A 3D Metaverse with Monetization Potential
- Enjin — An Easy-to-Use Metaverse Platform for Making NFTs
- The Sandbox – An Exciting Metaverse Project with a Lot of Customization
- Bloktopia — A VR-capable skyscraper-based metaverse project
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.
The Best Metaverse Crypto Project for 2022 is Silks
Silks is a new metaverse project that aims to build on past P2E games’ success and go much further. Said, Silks is a blockchain-enabled peer-to-peer (P2P) game that will have a rich metaverse centered on the thoroughbred horse racing industry.
In this metaverse, players can buy avatars and Silks horses, which are digital versions of real-world thoroughbred horses that are structured as NFTs. Silks are now ready to provide an autonomous marketplace where players can exchange Silks horses and benefit from the increased value.
The connection to real-world horses establishes through comprehensive datasets comprising information on the thoroughbred horse’s bloodline, development history, and racing results, which is an exciting feature of these Silks animals. Although these datasets centralize initially, 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.
According to the Silks whitepaper, silks horse owners will reward when the real-world equivalent wins a race, and owners can also earn incentives through an innovative staking mechanism. Silks’ non-inflationary transactional token, $STT, will be used to pay out these benefits.
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 mint each year to correspond with yearling (one-year-old thoroughbred horse) auctions, any progeny from the retired animal that sold on the market will earn the owner of the parent Silks horse $STT.
Finally, because the Silks metaverse uses enormous swaths of real-world data, Silks players can monetize their expertise through ‘pinhooking.’
Decentraland – 3D Metaverse World with Monetization Possibilities
Decentraland is another new metaverse crypto project to keep an eye on. The Ethereum blockchain hosts Decentraland, a 3D virtual environment. Decentraland, 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.
Players can trade numerous articles on the Decentraland Marketplace, 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.
Enjin – User-Friendly Metaverse Platform for Creating NFTs
Enjin is a one-of-a-kind metaverse project since it does not include a virtual world with gameplay elements, unlike the others on this list. 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 experience to develop Ethereum-based NFTs, resulting in over 1.1 billion digital assets 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. It 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, ensuring that no Enjin NFT is ever illiquid.
The Sandbox – Exciting Metaverse Project with Incredible 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 create in-game products like clothing and land, traded on ‘The Sandbox Shop,’ the NFT marketplace platform. The Sandbox’s transactional token, $SAND, powers this marketplace.
Bloktopia – Skyscraper-Based Metaverse Project with VR Capability
Bloktopia is an innovative metaverse project based on the Polygon network set to start in 2022. As a nod to the entire quantity of 21 million Bitcoins, the Bloktopia metaverse centers 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. It creates a lifelike experience that computer-based games can’t match and 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.
In conclusion
To summarize, this essay 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.
Predictions for the year 2022 for cryptocurrencies are continually appearing on the network. People who gamble on crypto assets are particularly interested in what leading specialists say about the subject.
The company’s owner and financial analyst, Max Keizer, believes bitcoin will soon surpass the $100,000 level. He does not rule out the possibility of BTC trading at $400k in the medium term. From the beginning, the expert was known for believing in the rapid growth in the price of bitcoins. He predicts that the cost of cryptocurrencies will skyrocket by the end of 2022.
