The Metaverse market is booming. There are hundreds of Metaverse-related projects in the pipeline.
In the crypto market, the term “Metaverse” has caught like wildfire. Even in the mainstream business press, the term is becoming more and more common. Gartner even named it one of the 5 most impactful emerging technologies of 2022.
So what exactly is the Metaverse?
The Metaverse is a shared digital space where people can interact with each other and create content. It’s a bit like a virtual world, but it’s not limited to any one platform or device. Think of it as a digital universe where anything is possible.
The Globa Metaverse Market
The versions of the Metaverse we have today are – for a lack of a better term – still pretty primitive. But the potential is huge.
VR, AR, and NFT-savvy companies have a vested interest in the Metaverse. They see it as a way to bring their products and services to a wider audience. And they’re not wrong.
At the moment, the global market is still relatively modest. But by the end of the decade, it can grow to enormous proportions. Some experts predict that the Metaverse market will be worth nearly $950 billion by the end of the decade.
Top 5 Metaverse Projects for 2022
The market won’t grow to those proportions overnight. The process will take time, but thanks to a few key players, the Metaverse is well on its way to becoming a reality.
Here are 5 Metaverse-related projects that are expected to make a splash in 2022:
Bloktopia is a Metaverse game, based on the Polygon Blockchain, powered by the BLOK token. The token holders are known as “Bloktopians.” It’s the first Metaverse project that allows users to access crypto information and immersive VR-like content, all in one place.
One of the things that make Bloktopia unique is that it’s built on a decentralized protocol. That means anyone can create content and games without having to go through a central authority.
The pax. world project is an open-world, Metaverse platform with advanced audio, video, and chat options. It’s a virtual space created to help crypto owners socialize, exchange ideas, and connect with fellow crypto enthusiasts from around the world.
pax.world users can meet at different events, bid on NFTs, and even attend virtual lectures. The project launched its airdrop after successfully raising $5.8 million in a private sale.
Next, we have a platform that uses 3D scanning and modeling techniques to create virtual objects like avatars, clothing, and other items. Meta Hero can be used in several fields, from marketing to education.
The platform uses a token called HERO, and according to the information on the company’s website, its max cap is 10 billion. At the moment, there are roughly 5.1 billion tokens in circulation.
Redfox is a Metaverse that allows individuals as well as organizations to connect and find all of the necessary tools to leverage Blockchain technology, VR, and AR.
It’s basically a one-stop shop for artistic and business-minded people to create, organize, and subsequently sell NFTs in a convenient manner. The ecosystem uses RFOX as its native token.
There are currently $1.3 billion of these tokens in circulation, with 700 million more planning to be issued.
Finally, we have Enjin, a company that has been around for quite a while. It has a $2.2 billion market cap, and its native token, Enjin Coin is ranked as the 62nd-most valuable coin on the market.
The Ethereum-based social gaming platform allows users to create chat rooms, and websites and host virtual item stores. While it lacks the gamification functions of some of the other platforms on this list, it’s still a powerful NFT-creation tool that empowers businesses and individuals alike.
These are just a few of the metaverse-related projects that are expected to make a splash in 2022. As the market for virtual worlds and NFTs continue to grow, we can expect to see even more innovative and exciting projects emerge. So keep your eyes peeled for these and other players in the space.