Crypto

Crypto Metaverse: Description Of The Best Projects Of 2023

Table of Contents hide 1 Let’s find out what metaverse crypto projects will be trending. 1.1 The Metaverse: Brief overview 1.2 Why...

Written by Niel Patel · 9 min read >
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We live in an era of innovations and digital achievements that were difficult to imagine 5 years ago. Many people still don’t understand the necessity of newfangled terms like cryptocurrency, blockchain, NFT, and the metaverse.

So over the past year, we’ve gone through a very wild ride within the crypto markets. Although the past one year hasn’t been the best for price gains, if you’re following the simple principle of buy low and sell high, this might actually be one of the best times to start building your positions to get in while prices are still heavily discounted. 

So just to simplify that a bit further, if you had invested a $1,000 over the past few months, that amount. Would be worth over one $200 or a $200 gain. Not only that, but let’s not forget that bitcoin had hit an all time high of $67,000 on November 8 of 2021. 

Which means if we ever get back to those same levels again, you would be three xing your investment at the current time of filming this video. So, ladies and gents, here are the facts. Fundamentally, nothing with crypto has changed. 

Second, on a price action level, bitcoin is down nearly 70% since the previous all time high. And during the last crypto winter, bitcoin had gone down 84% from the top to the bottom before it went parabolic once again. 

Now the crypto fear and greed index is right now showing fear over the last this month, and if you had bought, you would be up now.  A lot of projects that will affect our lives are already in the development phase. For example, cryptocurrencies and the metaverse are coming together to push the boundaries of our future lives in many areas.

Let’s find out what metaverse crypto projects will be trending.

So with all that being said, let’s get started with my top metaverse cryptos projects for this year. So the first cryptocurrency on my list is going to be none other than bitcoin. By now, you should have a good idea of what bitcoin is and why. 

Now more than ever, the use case of bitcoin is so relevant. This is because of bitcoin. Bitcoin was initially created to be an electronic peer-to-peer cash system, but it turns out that it also attracted many investors as a store of value currency. 

In the past three to five years, we’ve seen money getting printed by the feds at an unbelievable amount. Just a few years back, for the year of 2021, it was actually $13 trillion that was printed out of thin air. 

And in the last two years, the Us. Federal Reserve has now printed 80% of all Us. Dollars in existence. Since then, we’ve seen the effects of all the debt that is now circulating throughout the country, and it’s even resulted in some of the worst inflation that we’re still going through now. 

The importance of decentralized currencies such as bitcoin starts to make a bit more sense. Now, bitcoin also has something called the first market mover advantage because it was literally the first cryptocurrency to ever come out. 

The Metaverse: Brief overview

The metaverse is a concept of an interactive three-dimensional universe that combines several virtual spaces. It is a kind of future integration of the Internet. It allows users to work, meet, play, and communicate within these three-dimensional spaces.

Although the metaverse has not yet been developed in its complete form , some platforms contain elements similar to it. It is mostly used in modern video games. Developers are constantly expanding their concept of these elements with in-game events and the creation of a virtual economy.

Regardless of how many metaverse companies take it seriously, there can only be a metaverse with specific crypto coins.

Why does the Metaverse matter?

Even if the metaverse fails to achieve the epic goal that many expect from it, however, it could fundamentally change the way we interact within the digital world. Collective virtual experiences could open up new opportunities for creators, gamers, and artists in the same way that non-fungible tokens (NFTs) have, not only changing the creator economy but reinventing it.

The virtual world of the metaverse can become its trillion-dollar industry. This would be a place for entertainment, trade, and for some, even a place of work. For instance, the writing service All Top Reviews has become a place of work for lots of gifted content creators that work only online, let us say, digitally. The metaverse is described not as an extension of the Internet, but as its future. And it is being built using blockchains and decentralized applications.

Let’s discuss the best Metaverse projects worth your attention.

  1. Bitcoin
  2. Decentraland (МАNА)
  3. The Sandbox (SAND)
  4. Axie Infinity (AXS)
  5. Gala
  6. Ethereum
  7. RobotEra (TARO)
  8. XRP
  9. Avalanche
  10. Cosmos

1. Bitcoin

I think bitcoin is truly the best crypto project to invest in. As I mentioned at the beginning of this article, with the current percentage change that we’ve seen from an all-time high of more than 69%, if it went back to that returning number, we would see a 225% upside. 

Mark this date in your calendar, because the next bitcoin halving is set for March 24, 2024. And when this happens, it might be too late to buy at the prices that it is currently at. Now, all in all, if you want to have more exposure within the crypto markets but you’re more conservative, you want to do it in the safest bet possible. 

2. Decentraland (МАNА)

Decentraland is a virtual reality platform that allows you to buy, sell and manage your virtual property (called EARTH). You can create and develop your world in any way you like and explore this version of the metaverse using your phone, computer, or virtual reality (VR) headset. To get started, you’ll need Decentraland MANA. MANA is a native cryptocurrency that allows you to access interactive applications, pay for goods and services, or invest in real estate.

MANA is a well-established cryptocurrency that is widely available, making it very attractive to even the most novice users. The metaverse associated with Decentraland also offers exciting interactive experiences for users, such as concerts and festivals, with vibrant entertainment venues. Decentraland is growing and has an active development team, giving you a great range of options and possibilities. 

However, as popular as MANA and Decentraland are, they have a few drawbacks. MANA runs on the Ethereum meta-universe blockchain, which has high security but often requires high fees. The experience can also be isolating, as users rarely encounter another user “in the wild.” The landscape tends to be tedious and content is limited. However, the platform is constantly updated to add new features and options, and Decentraland tokens have many uses. You can sell both LAND and NFT, and the community is governed by a Security Advisory Board.

3. The Sandbox (SAND)

The Sandbox is a virtual world where you can buy and sell virtual land and other assets using coins from a metaverse called SAND. You can create and transform anything you can imagine by monetizing your virtual experience with SAND cryptocurrency. For example, writers from the writing service Trust My Paper found a way to monetize their writing skills by creating various pieces of content.

The Sandbox is backed by SoftBank, one of the most influential technology investment firms today. You can buy, sell and stake your assets and virtual plots. A “Play to Earn” meta-universe, the Sandbox lets you choose how you use it. You can create your own game, play other games, own virtual land, and collect, create, or control the property.

Sandbox Metaverse runs on the Ethereum blockchain, providing the highest quality and security. However, it also means that you can occasionally encounter high gas fees. Nevertheless, its editor allows you to create unbeatable animations and models while providing powerful tools to create the virtual world you want to live in.

4. Axie Infinity (AXS)

More than a quarter of a million players play Axie Infinity every day. Players own tokens called AXS, which give them a share of ownership and control of the game. Players can build kingdoms, search for rare resources, and hunt for treasure. The most involved players are rewarded through the metaverse’s blockchain.

Players compete to earn monsters called axies, which are non-exchangeable tokens (NFTs) that can be bought and sold outside the game. Axie can cost anywhere from $150 to over $100,000, depending on rarity. However, the most expensive Axie was sold for 300 ETH, and Axie Infinity recorded its highest trade of $1 billion in August. It is available for several operating systems, including iOS, Android, Windows, and Mac.

AXS, like many other metaverse coins, is backed by the Ethereum metaverse blockchain, which means that the gas fees can be high. However, you can be assured of the reliability and security of the platform. AXS can also be exchanged for other cryptocurrencies as ether or fiat currency.

Completing quests and other activities on the platform will earn players AXS, but you can only earn a certain amount of AXS on a select day. In addition, some of these activities require a significant time commitment, making it difficult for people with jobs or other responsibilities to participate fully. Unfortunately, even though you can earn AXS by playing, the game is not free. Starting costs can be prohibitive for many players, who must own at least three Axies to participate.

5. Gala

Gala is a gaming ecosystem that gives players more control over their gameplay. Players can own NFTs that facilitate various game functions, or they can sell trade or gift items to other users. Gala offers various NFTs, such as CraneBot, which can be used in the specific game to which it belongs, or in other games in the same ecosystem.

Like other games in the metaverse, Gala has its token called GALA. GALA is cryptographically protected and used as the primary means of exchange between players. GALA rewards nodes and players, with nodes being rewarded with the token and the best players receiving tokens for playing.

Players can also use GALA to get a say in the management of the Gala. This allows them almost unprecedented control over the content and the development of new games.

The GALA token has great growth potential, and the gaming platform team is currently developing several more games that will launch soon. Players and nodes are rewarded with GALA tokens and NFT rewards.

One of Gala’s biggest advantages is that the games are free. Players can create an account and play without fees, commissions, or subscriptions. However, because Gala is on the Ethereum network, users can face a high fee when trying to transfer coins or perform transactions.

6. Ethereum

Now, the fifth cryptocurrency on my list for this year is going to be Ethereum. So Ethereum is currently the second largest cryptocurrency in the world by total market cap, only followed after bitcoin. 

While bitcoin may be better known and have a larger market share, many people have argued that Ethereum still takes the prize for popularity and also arguably might even give a much higher return over time. 

My favourite analogy to all this is that bitcoin is always going to be like gold. It’s going to be a store of value, it’s going to be an old-school tech. But Ethereum is seen as that new kid on the block where it’s almost like silver, where we see it used more commonly in everyday items like kitchen utensils, or even compare Ethereum to be more like electricity, where you have use case it. 

Now, it’s also last year when Ethereum transactions amounted to 408,000,000, whereas bitcoin only reached 93.1 million. The use, case and fundamentals of Ethereum have consistently been evolving. For example, Ethereum underwent it’s long-awaited merge event that transitioned the network from a proof of work consensus to a proof of stake model. 

7. RobotEra (TARO)

RobotEra is a blockchain game project similar to SandBox, supported by the well-known Asian crypto platform LBank. The main goal of the creation of this project is to allow players to build their worlds through the metaverse.

To do this, they will embody robots that allow them to control their territory. These robots also serve to facilitate the rebuilding of the planet Taro after a catastrophic event destroyed it. Each robot embodied by each user will be represented by the corresponding NFT.

The proprietary token supplied with the RobotEra project is known as TARO. It is a service token based on Ethereum. This cryptocurrency will facilitate exchange and interaction between users. But it will be used for the entire functioning of the ecosystem.

One of the most important features of RobotEra is the possibility of staking. Indeed, the project has its platform that deals specifically with staking. Thus, users will have the opportunity to deposit their TARO tokens there to generate crypto profits. In addition, this platform also deals with the sale and purchase of NFTs in the ecosystem. This ecosystem consists of players represented by their robots, NFT, and also Land.

8. XRP

Moving on. The next metaverse crypto project to invest is on my list might be a bit more controversial, but I do need to give my credit over to ripple’s XRP. So, XRP is going to be the niche cryptocurrency of the Ripple payment protocol, which is a real-time gross settlement system, currency exchange and remittance network. 

Now, this was first proposed back in 2012 by a company named Ripple Labs, and the token is best known for its ability to facilitate fast and low-cost cross-border transactions. What makes this network so unique is the use cases of the XRP ledger, which is an open-source permissionless and decentralized tech technology that has a crazy low transaction fee of zero two cent per transaction. 

9. Avalanche

Now, the fourth cryptocurrency on my list. I just think long and hard about it, but I made the clear decision to go with the Avalanche, also known as AVAX

AVAX is going to be a layer-one blockchain that functions as a platform for decentralized applications and custom blockchain networks. It is by far one of the most popular and favourite Ethereum killers, something we talked about earlier in this video, where it’s directly competing with several other competitors to try and overtake Ethereum as that number one all coin. 

At the time of writing this article, the current price of AVAX is at $17.50. It’s currently ranked number 17 on the market cap for coinupmarketcap.com. um, and considering that the all-time high for AVAX was still at over $150, I think it’s safe to say that this crypto is on a massive scale. 

10. Cosmos

If you do happen to add some avax to your portfolio at around current prices, if it does return back to the all time high that we’ve seen before this partnership, you’d be getting an roi of over 750% to the fifth and final crypto on my list. 

Ladies and gents, this is gonna be boom, boom, boom, boom. Cosmos, also known as ATOM. So ATOM is gonna be the native utility and governance token of the Cosmos hub. Now, to give you a little bit of info on this project, adam has a unique and innovative blockchain that focuses on solving some of the most challenging issues within the crypto industry, such as slow speeds, high costs, scalability, setbacks energy inefficiencies, and even fragmentation. 

To sum up

Although the creation of a single metaverse is probably still a long way off, we can already see events that can lead to its emergence. This seems to be another science fiction example of the use of blockchain and cryptocurrencies. At the moment, it is not clear whether humanity will actually come to the creation of the metaverse. However, there are already some projects, and we can keep integrating blockchain into our everyday lives.

The only thing we can say for sure is that this idea has a great potential to change our lives in the same way that the emergence of social media and the Internet transformed them before.

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