In a time when the potential of tech seems limitless, the idea of a metaverse is bound to draw all types of attention from around the industry. Many big figures in tech are already involved in metaverse projects, and many more have vowed to never get involved at all. If you’re somewhere in between, now is a good time to start learning.
Here is a list of the top five metaverse projects in 2022.
#5: Horizon Worlds
Although metaverses had existed for years before Mark Zuckerberg Meta entered the fray, it’s hard to imagine what the Web3 field would be like without them.
Their influence has positioned their metaverse, Horizon Worlds, as the top metaverse project in terms of institutional backing and budget. With a mobile phone version coming out later this year, the future of the platform seems bright.
Horizon Worlds isn’t without its relative drawbacks, though- for one, it’s a bit of a late arrival compared to other metaverses, with development only beginning in 2019.
This means many aspects of it, such as the in-universe crypto economy, have not yet been released. In a time when all metaverses face accusations of being half-finished, Horizon Worlds leaves itself particularly vulnerable.
#4: Bloktopia
Metaverse projects often center around some sort of niche, and ‘personal skyscrapers’ is certainly an attractive choice.
Paying homage to the legendary 21 million supply of Bitcoin, Bloktopia’s developers (who also call themselves Bloktopia) have given each skyscraper 21 customizable stories for users to customize and populate.
The weakness of the Bloktopia platform lies in one single fact: It’s not available to the public yet. Investors can already trade in its native token (cryptocurrency), and can even trade in the metaverse land that will eventually contain the skyscrapers, but no other features are available to the general public. Coupled with the developers’ investor-focused advertising strategy, this might signal future neglect for the virtual world’s actual userbase.
#3: Enjin
Although Enjin is not a project that aims to create or maintain any specific metaverse, it intends to transform the field.
Enjin is an easy and intuitive NFT creation tool that creates metaverse-compatible NFTs. On the Enjin platform, artists and other creators can turn a file into an NFT with little effort, leaving a lot more time for them to focus on their work.
This prospect has drawn attention from investors across the metaverse and NFT spaces, especially recently. The native coin of the platform, Enjin Coin, has seen intense benefit from this interest and is still regarded as one of the best investments in the metaverse field.
#2: Decentraland
Blockchain and other Web3 technologies have always been praised for their ability to construct organizations without hierarchies, and Decentraland was created to push the limits of that ability.
One of the oldest and largest metaverse projects out there, Decentraland is run and developed by a Decentralized Autonomous Organization known as the Decentraland DAO. Aside from the smart contracts that automatically enforce the organization’s rules, no member is above another.
This has worked well, at least so far. Decentraland has developed into a prominent and bustling metaverse where investors can trade tokens, land, and cosmetic items. Players, too, have no shortage of games and events to enjoy.
The downside is that Decentralized Autonomous Organizations are a fairly new concept, and no one is sure how well they will keep working in the future. There may be some insurmountable problem that they’ve not yet run into, or they might just die out over time.
Unique organizational structures have unique problems, and some worry that Decentraland might fall victim to one.
#1: The Sandbox
In terms of brand recognition within the metaverse field, The Sandbox is a giant. With four different types of native tokens, the largest market for virtual real estate, and outside partnerships from Snoop Dogg to Atari, The Sandbox is a prime opportunity for investors.
The players have it just as good. The Sandbox comes with a 3d modeling and NFT creation tool called VoxEdit which allows them to design anything they want and import it directly into the virtual landscape.
On top of this, there are over a thousand new minigames coming later this year alongside a game maker tool that will allow users to create and share their own.
Despite all these features, The Sandbox is still in its Alpha version, with the official release nowhere in sight.
The official development timeline extends past this year and into 2023 with no mention of a full release. The developers are still hard at work adding new content and will be for the foreseeable future.
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DYOR: Do Your Own Research before making any investment decisions based on your personal circumstances. We recommend taking professional advice before making any investment decision.
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References: (click the arrow to expand)
Daniel Speth is a content writer at the International Youths Organization for Peace and Sustainability. He is also a final-year student at the University of Cincinnati, majoring in Rhetoric and Professional Writing as well as Creative Writing.
Inputs and Edits by Aswin Raghav R.
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