Metaverse Projects

Top 10 Metaverse Projects to Look Out For in 2023

Almost everyone has heard of this word at some point in their lives. It might be from a science fiction film or the newspaper these days. Is it genuine or simply another popular video game? From music artists to big-shot financial managers all over the world, everyone is talking about it. It is a phrase that encompasses virtual reality, distinguished by the presence of a virtual world that exists even when you are not actively playing the 'game,' such as Fortnite. It can also contain augmented reality, which merges features of the digital and actual worlds, such as the once-popular 'Pokemon Go game

In the crypto sense, it is a digitally generated world that resides on a blockchain and operates on blockchain network principles. As a result, it derives value from adhering to those beliefs and principles. These projects include Decentraland, The Sandbox, Axis Infinity, and more. This post will delve deeper into the best metaverse crypto projects to watch in 2023.

Top 10 Metaverse Platform

1. DECENTRALAND (MANA)

decentraland

Decentraland will be the next top metaverse project in 2023. The virtual world of Decentraland is a web-based 3D environment. With the platform’s native token, MANA, built on the Ethereum blockchain, users of Decentraland can acquire non-fungible tokens (NFTs) representing virtual plots of land in the virtual world. Developed by Ari Meilich and Esteban Ordino, it was under development from 2015 until its release in February 2020. The Decentraland Foundation is a nonprofit organization in charge of it.

However, it raised $26 million from its token sale amid the ICO (initial coin offering) frenzy of 2017. As the price of cryptocurrencies in the Decentraland metaverse rose in 2021 and into early 2022, more and more well-known businesses started to appear in or purchase “properties” there.

In March 2022, Decentraland hosted Metaverse Fashion Week, which featured major fashion brands such as Dolce & Gabbana, Tommy Hilfiger, Elie Saab, Nicholas Kirkwood, Perry Ellis, Imitation of Christ, and Estée Lauder. Other participants included Samsung, Adidas, Atari, PricewaterhouseCoopers, and Miller Lite. Sotheby’s also held its first metaverse auction.

2. APECOIN (APE)

Apecoin

This coin is one of the newest in the crypto market, having only been released on March 17, 2022, but it has taken the market by storm. In the wake of the release and airdrop to BAYC NFT holders, Yuga Labs, the company behind the Bored Ape Match Club NFT collection, revealed that they would be launching a metaverse crypto project powered by the ApeCoin token. As a result of this development, the token’s value skyrocketed at the end of April 2022, and it briefly held the title of the greatest metaverse coin by market cap.

The metaverse project is currently run by a decentralized autonomous organization (DAO), and all coin holders have a say in important policy decisions. ApeCoin has a market valuation of around $1.5 billion, making it the most valuable token in the metaverse.

In the ecosystem developed by Yuga Labs, ApeCoin has several potential applications. In addition to voting in the DAO, holders will also have early access to new games, events, merchandise, and services. As an ERC-20 token, it can be used for transactions on the Ethereum network. The coin is also being used as NFT rewards, and BAYC holders are being given free, instantly redeemable APE.

3. THE SANDBOX (SAND)

Sandbox

Compared to other blockchain-based metaverse projects now available in the cryptocurrency market, The Sandbox has a slightly longer history. A 2D open-world sandbox version was initially launched in May 2012 for iOS devices, followed by an Android version in the following May. Pixowl created it, but Animoca Brands bought them out in August of this year. After the acquisition, they quickly moved their attention to developing a 3D blockchain-based version of the game. With this update, players may use NFTs to make, trade, and sell their custom items within the game.

In April of 2021, a beta version of The Sandbox Marketplace was released, allowing players to buy non-transferable items (NFTs) from 46 different creators within the game. The Sandbox partnered with popular franchises at the time, including the Smurfs, CryptoKitties, and Shaun, the Sheep. After that point, in 2021, the company announced collaborations with The Walking Dead and Snoop Dogg. Thus, Sandbox is a promising crypto project for the metaverse in 2023.

4. ENJIN COIN (ENJ)

enjin coin

The Enjin Coin is a coin built on the Ethereum platform. It can be used to buy property in various Enjin-connected metaverses. Several blockchain-based games that are part of the Enjin ecosystem are listed on their website. It’s one of the best metaverse crypto projects because it lets you buy NFTs and other collectibles from specific blockchain games.

Most of the best metaverse coins are only associated with their parent metaverse projects. Still, Enjin Coin has connections to a wide variety of others, giving it the potential to be quite valuable. Any Ethereum-compatible wallet, such as Metamask, can store Enjin. In addition, it includes its Enjin wallet, where you may keep the NFTs of related projects. Despite its many applications and promising project advancements, Enjin Coin has lost almost 90% of its value from its all-time high as the market as a whole has become negative. But if the market improves, especially if the NFT and metaverse sector benefits, this coin will rise again.

5. PLAYDAPP (PLA)

playdapp

An additional ERC-20 token, PLA is used as a medium of exchange within the PlayDapp blockchain gaming ecosystem. The assets in these games can be shared among them. Play around with your newfound possession, improve it, and then put it up for sale on the market for a profit. However, asset purchases and sales come with a transaction charge split between the corporation and the game developers, just as in any other metaverse marketplace. PlayDapp’s PLA coin is number 149 on Coinmarketcap and is worth $145 million.

6. WAX (WAXP)

WAXP

In addition, WAXP is widely regarded as one of the most promising future WAX blockchain-native metaverse coins. The WAX Metaverse crypto project was designed for staking WAXP to earn staking incentives and to provide holders with governance over proposed changes to the network.

Moreover, WAXP can be wagered on any of the many games hosted on the WAX blockchain. You can make money by trading virtual items in the game, which NFTs represent. Finally, they have kept all trading transaction fees at $0 to encourage trading NFTs on the carbon-neutral WAX network. WAX’s crypto coin, WAXP, is valued at $194m and is ranked 128 on Coinmarketcap.

7. METAHERO (HERO)

metahero

This metaverse crypto project is one of the more recent entrants, and it centers on the use of 3D scanning to create high-definition avatars of real-world objects and people. Towards this purpose, the firm has set up a scanning chamber in Doha, which can scan physical objects and generate their digital, 3D form for use in the Metahero metaverse. Its native token, HERO, is a cryptocurrency with a $43 million market cap and a 392nd ranking as of July 2022. Our metaverse crypto project is still in its infancy. Hence its token supply is smaller than others on this list.

8. STAR ATLAS (ATLAS)

Star Atlas

Star Atlas is a metaverse crypto project like the hit MMO of the same name. It’s a massively multiplayer online strategy game in which you explore space, conquer new lands, and dominate the political sphere. The game occurs in the distant future, in 2620 when players can expand their territories and amass abundant resources. The game’s token, ATLAS, may be won in-game, much like the tokens in other blockchain-based gaming reward systems. Right now, one ATLAS is worth $0.0063, and the entire market cap of its underlying tokens is $13.8 million.

9. YIELD GUILD GAMES (YGG)

Yield Guild

YGG intends to unite players to profit from blockchain-based virtual economies, as with other play-to-earn metaverse crypto projects for gaming guilt. In essence, a DAO invests in non-fungible tokens (NFTs) for use in the platform’s fictitious creations and blockchain-based games.

10. KOOP360

koop360

Enabling the Growth of the METAVERSE

KOOP360, with its launch in early 2022, have been explored for the last few days, with its developments as per their scope of projects. An inclusion of the VR / AR and Artificial Intelligence tools with anintegral part of Blockchain, Koop360 and team will really enable the growth of the Metaverse ecosystem.

  • KOOPVerse – A flagship Metaverse ecosystem of KOOP360, that is not only developing the conventional marketplace of NFTs and Metaverse co-created ecosystem, but also, innovate the next era of online / virtual LIVE events industry by developing the high tech Metaverse Arena, and the first event will be the1stMetaverse tribute to the Greatest Sidhu Moose Wala on May 29, 2023 at Koopverse Arena (Online / Virtual LIVE).
  • Besides KOOPVerse, as further phase development, team will be integrating the LIVE Chat feature with AR / VR tools and avatars in their recent android launch of KOOP Wallet. In another project, KOOPDeals, team will enable the products with real-time VR / AR tools to look, feel and even try, in actual, before placing any online order from the stores / suppliers at Koopdeals.com. This tool by itself, will be the first initiative of such a Metaverse concept within an ecommerce industry.
Conclusion

In conclusion, the metaverse business sector is in its infancy. More development time is needed before it can be applied to practical issues. But there’s no denying that in 2023 and beyond, Metaverse will be the next great thing that completely changes the internet and how people live and work in the modern world. In 2023, this is why large firms are still investing millions in infrastructure for the Metaverse.

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