Top 13 Cryptocurrencies from the World of Metaverse to Watch in May 2022

The metaverse sector of the crypto industry may be one of the latest trends, but that doesn’t mean that it lacks exciting projects. In fact, new ones keep popping up, and in the past 7 months, the metaverse sector got over 200 of them. The diversity among them is also quite high, with some following an established road, and others experimenting and trying to do something new and unique.

And, of course, there are plenty of new blockchain-based games that use metaverse technology to develop a new kind of gaming experience that is rewarding in more than just one way. Today, we wanted to check out some of the best metaverse cryptocurrencies, and hopefully, point you towards several of them that you might develop an interest in.

1. Illuvium

We decided to start our list with Illuvium — a popular Pokemon-like game that offers a vast open world populated by creatures called Illuvials. The player is tasked with locating these creatures and defeating them in battle. Once they do that, they can nurse the creatures back to health and have them join the player. After that, the player can use them to fight other Illuvials and have them join their crew or battle against other players in order to win rewards by emerging victorious from such battles.

Illuvium is the first AAA game that emerged on Ethereum’s network, and we believe that it holds great potential to grow in the blockchain gaming sector.

To learn more visit our Investing in Illuvium guide.

2. Axie Infinity

Next up, we have Axie Infinity, which is the largest metaverse-based game in the industry. The game shares a lot of similarities with our previous entry, such as the fact that it offers a vast open world that players can explore with their creatures called Axies.

Each Axie comes in the form of an NFT, so when the player obtains one, they are the only true owner of the creature for as long as they hold its NFT. The creatures can be upgraded with over 500 different body parts that give them special abilities needed to win in battles against other players and earn AXS tokens as a reward. Finally, players can also breed their creatures with one another to create new, unique ones and then either keep them or sell them for profit.

To learn more visit our Investing in Axie Infinity guide.

3. Decentraland

In the third spot, we have Decentraland — possibly the oldest metaverse project in the entire industry. Decentraland has been around for years, offering a digital world in which users can purchase digital plots of land and use them for a variety of use cases. Some choose to use this land for software development, or running a business, or even for designing and playing games.

However, the most popular use so far has been to organize digital events and meetups which users can participate in. This use case grew particularly popular due to COVID restrictions, and even some large organizations such as the Australian Open used Decentraland for a digital version of its local events.

To learn more visit our Investing in Decentraland guide.

4. Reef

Our fourth entry is Reef, or Reliable Extensible Efficient Fast layer 1 blockchain for DeFi, NFTs, and gaming. The project was created using Substrate Framework, and it offers high levels of scalability, which, in turn, provides low-cost, near-instant transactions. Plus, it supports EVM and Solidity, which means that Ethereum-based dApps can easily migrate to this network.

So far, Reef has been the most advanced EVM-compatible blockchain that is self-upgradeable, and it features self-governance. Plus, it features a unique infrastructure that allows for EVM extensions, native token bridges, and many other features that might make it one of the crucial projects for the future of this sector and interoperability.

To learn more visit our Investing in Reef guide.

5. Verasity

In the fifth spot, we have Verasity, which it the next-gen project developed to support video-sharing. Its goal is to create a fair system for creators to earn from their work, and also for advertisers who would gain actual value for the ad money they pay.

A lot of traditional streaming and video websites use bots to view ads, thus tricking advertisers into continuing to pay for ads. Meanwhile, they pay their content creators very little, making it impossible for them to earn decent money for their work. Verasity wishes to change this with its PoW protocol technology, and become the first patented protocol layer that produces precise, secure, and verifiable audience metrics. As a result, users can watch, earn, and play on its Esportfightclub platform.

To learn more visit our Investing in Verasity guide.

6. Vulcan Forged PYR

Next, we have Vulcan Forged, which is a blockchain game studio and NFT marketplace that uses the project’s native token PYR for paying marketplace fees, staking in VulcanVerse, upgrading and sustaining game asset levels, P2E rewards, and access to the game developers and NFT dApp incubation program.

The project features multiple products, including a VulcanVerse fantasy metaverse; Anvil, a crypto-less and gas-less NFT engine; Vulcan Market, a gas-free NFT marketplace for Vulcan Forged games; Berserk, an NFT online TGG; and finally, Frenzy, which is a create-your-own tournament platform that uses PYR as a reward token.

To learn more visit our Investing in Vulcan Forged PYR guide.

7. PlayDapp

Halfway down the list, we have PlayDapp, which features a token called PLA. This is a digital asset used within the PlayDapp blockchain gaming ecosystem to buy and trade non-fungible token-based items in various games. The project also as its own C2C marketplace, where those tokens can be exchanged.

Other than that, PlayDapp’s goal is to bring non-crypto game players into the world of blockchain games by using its service platform, which is very user-friendly and it provides PG solutions to play games without having to rely on crypto.

To learn more visit our Investing in PlayDapp guide.

8. MyNeighborAlice

Moving on to number eight, we have MyNeighborAlice, which is another gaming metaverse project inspired by the popular game Animal Crossing. The game offers users to buy NFTs, each of which represents a digital island, where players can collect resources and build different things.

The best part, however, is that the players never actually come in direct contact with the blockchain, which makes the game an excellent way to onboard non-blockchain players. All transactions go through an NPC called Alice. Meanwhile, playing the game can be rewarding as players can obtain crypto through the completion of tasks and participation in competitions.

To learn more visit our Investing in MyNeighborAlice guide.

9. ApeCoin

ApeCoin is an ERC-20 token, meaning that it was built on Ethereum’s network. It is a utility and governance token for the APE ecosystem. As such, it empowers and incentivizes the decentralized community, building at the forefront of Web3.

ApeCoin is one of the highest-ranking metaverse tokens, as it comes with a variety of benefits. Apart from being used for voting as a governance token, it can also provide access to certain parts of the ecosystem that are otherwise unavailable, including exclusive games and services.

To learn more visit our Investing in ApeCoin guide.

10. Decentral Games

The tenth project on our list is Decentral Games, which is a project that creates free, P2E games in its metaverse, and allows players economic freedom through the use of aligned incentives, self-custody, and delegation of yield-bearing metaverse assets.

One of the project’s earliest games is a metaverse poker game called ICE Poker, which generates revenue for the DG Treasury through NFT mints, secondary sale of royalties, activations, and upgrades. As for DG, it acts as a governance token for the Decentral Games treasury, which, as established, collects value from the ICE Poker ecosystem.

To learn more visit our Investing in Decentral Games guide.

11. Ultra

Moving on, we have Ultra, which is a publishing platform and ecosystem for video games and all kinds of video game content. The project wishes to eliminate the monopoly held by publishing platforms such as Steam, and offer new opportunities to game developers, players, but also influencers connected to the gaming industry.

Players get to benefit by playing games in its metaverse, which are immediately available. They also earn its native UOS token along the way and access games that are exclusive to this platform. The devs, on the other hand, gain access to more effective marketing tools and can earn up to 20% higher sales revenue due to the ability to cut out the middlemen.

To learn more visit our Investing in Ultra guide.

12. Mines of Dalarnia

Mines of Dalarnia is a Minecraft-inspired game where players get to rent LAND from landowners and use it to mine for rare minerals, relics, and alike. They can then use the assets they uncover by mining to build and upgrade tools or sell them to others.

The game has grown to be very popular even while it was still in beta, and its recent release on the project’s mainnet attracted even more players interested in a relaxing and yet rewarding gaming experience.

To learn more visit our Investing in Mines of Dalarnia guide.

13. The Sandbox

Last, but not least, we have The Sandbox, which is a metaverse project that allows players to build their own games in its virtual world. Furthermore, players can also create, build, buy, and sell various digital assets in the games. The games can be P2E, which rewards the players and makes the games more popular.

The Sandbox allows players to become developers and create games they always wanted to play, and then offer them to others, as well. It combines the powers of DAO and NFTs to create a thriving gaming community, the likes of which never existed before.

To learn more visit our Investing in The Sandbox guide.

Conclusion

The metaverse sector is growing larger by the day, while its projects are becoming more and more polished and interesting. It is impressive how far the sector has come in only a little more than half a year since it came under the spotlight, and we are quite interested in keeping track of its development.

The projects listed above are some of the best that this sector of the blockchain industry has to offer, so if you are interested in one or more, we recommend at least keeping an eye on them and waiting the right time to invest. Or, if you like them enough, you can engage right now — the decision is entirely up to you.