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The metaverse has exploded in late 2021 as one of the largest crypto trends that the industry has seen so far. It promises to take the social media element to the next level, and completely revolutionize how people interact online, play games, explore the digital world, and more. The hype regarding the new blockchain product has continued in 2022, and new projects are launching all the time.
However, as it is always the case, not all of them are equal in quality, the level of development seen thus far, or their goals and plans. With that said, we have researched numerous metaverse projects seeking the ones with the most potential, which led us to creating the following list of 7 top metaverse tokens to keep an eye on in February 2022.
The first on the list is Decentraland (MANA). This is a well-known metaverse project that has actually been around for years, launching way before metaverse became popular, and developing its technology years ahead of time. Decentraland has created a virtual world in which users can purchase digital polts of land by purchasing NFTs, each of which is unique, and corresponds with the single plot. It is its tokenized representation, and as long as you own it, the plot of land to which it is tied will belong to you.
Once you own a parcel if this digital land, you can do whatever you want with it, including develop software, create games, organize digital events, and more. Decentraland is one of the leaders of the metaverse trend, and definitely one of the oldest and most developed projects of this kind. It has a great reputation, which is why it started attracting some major companies and organizations that want to use it for its capabilities. Especially now, while the COVID-19 global pandemic is still considered ongoing, which is why many safety measures tend to limit people in various ways.
The biggest recent example of this is the Australian Open, which recognized that so many people will not be able to come that it actually organized a virtual version of its events in Decentraland’s digital world.
To learn more about this token visit our Investing in Decentraland guide.
2. The Sandbox
Next up, we have The Sandbox, which is another very popular metaverse project that aims to use its technology to revolutionize the gaming industry. The Sandbox has created a virtual world where users can go and develop their own games, and become developers, and not just players.
The Sandbox allows gamers to easily develop their own games and express themselves and their gaming ideas within its blockchain. In doing so, they get to showcase their talent and ideas, provide the community with more amazing indie games based on blockchain technology, and even let them earn money by playing, using the P2E model that has already attracted countless players to various gaming metaverse projects out there.
To learn more about this token visit our Investing in The Sandbox guide.
3. Axie Infinity
In the third spot, we have Axie Infinity. This is one of the many gaming metaverse projects, although it works differently from The Sandbox. Axie Infinity has created its own game — a digital world filled with monsters, inspired by pokemon games. The player gets to access this world, purchase monsters — each of which comes in the form of an NFT — and battle other players.
With each victory, the player is rewarded with the project’s native token, which they can then use to buy more monsters, or purchase various upgrades that will allow them to strengthen their existing monsters. There are over 500 body parts belonging to beasts of all kinds that players can add to their monsters and grant them special abilities, or simply create the ultimate creature. They can then sell their monster at a higher price and earn quite a profit.
Alternatively, players can use their existing monsters to breed new ones and come up with all kinds of unique combinations that can then be used for battles, or, again, sold for profit. Axie Infinity is currently the biggest blockchain-based gaming metaverse and one of the most popular ones, which is why it definitely deserves its place on this list.
To learn more about this token visit our Investing in Axie Infinity guide.
Halfway down the list, we have Illuvium. This is an open-world fantasy battle game built on Ethereum’s blockchain. The project is considered to be the first AAA game on Ethereum, or potentially on blockchain, in general. However, as a game, Illuvium is an excellent source of entertainment for both, expert gamers and major DeFi fans.
The project uses a range of collecting and trading features to take care of everyone’s needs and desires. Its world is populated by creatures called Illuvials that players can best in combat and capture. Once captured, the creatures belong to the player, and become their loyal companions in this world. Players can then use the creatures for open-world exploration, PVP battles, and more.
Furthermore, as players traverse this unique blockchain-based world, they can do various tasks that bring achievements, which are rewarded with the project’s native ILV token, so once again, there is a great opportunity to earn here, just like in our previous entry.
Illuvium may be a blockchain-based metaverse project, but it is more akin to being a full-fledged video game than any other project on this list, so if you enjoy video games and would like to earn during your favorite past time — definitely check it out.
To learn more about this token visit our Investing in Illuvium guide.
In the fifth spot, we have MyNeighborAlice, which is a very popular and fun farming-themed P2E game created on Chromia. The game was inspired by Animal Crossing, a popular game that has been played and streamed on platforms like YouTube and Twitch for years now. The game allows users to purchase virtual islands, which come in the form of NFTs, and claim them as their own.
After that, they can collect and build exciting items, make new friends, and simply enjoy a calm, relaxing game. Most of the purchases in the game — including virtual real estate — are made from Alice, the game’s eponymous central entity
Thanks to its use of blockchain technology and user-friendliness, this game has great potential to push blockchain adoption among younger generations and teach them how to use blockchain, how to access and profit from DeFi, what NFTs are, and how they can be utilized for the players’ benefit.
To learn more about this token visit our Investing in MyNeighborAlice guide.
Nearing the end of the list, we have Metahero. This is a deflationary real utility token that uses ultra-realistic 3D technology to create 3D avatars and various virtual objects that can be used in virtually any field, from gaming and social media, to art and fashion, and even medicine. Metahero’s goal is to push cryptocurrency adoption to the next stage by allowing people to take the first step in a parallel, digital universe.
The project’s idea is to introduce metascanning, which is the realistic scanning and transformation of real-world objects into metaverse-based avatars that can then be used in its digital world.
The project intends to use its technology to connect people from all industries and walks of life, from artists to entrepreneurs, and even gamers, as well as many others, and to do it in a unique way. The most revolutionary and unique aspect of the project is its metascanning technology, which features the best graphic rendering in history.
To learn more about this token visit our Investing in Metahero guide.
7. UFO Gaming
Last, but not least, we have UFO Gaming. This is another decentralized gaming platform that features a metaverse that offers Play To Earn (P2E) elements, as well as NFTs, and even DeFi functionalities. The project intends to release multiple games, with the first one being Super Galactic. This is an RPG/arcade action game that has its own native NFT collection combined with an auto battler.
The project is built on the Ethereum network, but its games are already integrated with a layer-two scaling solution for NFTs called Immutable X, which eases the issues commonly associated with Ethereum’s chain.
In addition to everything mentioned above, the project allows players to mint playable characters in the form of NFTs. These characters are known as UFOeps, and players can mint them by farming the game’s utility points known as Plasma Points. Farming is done through the UFO token, and once players mint some UFOeps, they can engage in battle against a hostile alien race in order to defeat them, defend world peace, and at the same time, earn rewards for completing various daily quests.
Metaverse offers great potential, and a big promise to change the way people communicate, share content, and more. It can bring a very futuristic way of spending time online, if it succeeds, which is why so many people are interested in it, expecting that this will be the way the development will lead us.
Whether or not that will actually happen remains to be seen, but for now, the 7 projects mentioned above are some of the best that the metaverse sector has to offer, and definitely the 7 worth keeping an eye on.