Top 10 Potential Metaverse Projects in 2023

    Metaverse is bringing a new breeze in the world of technology. According to Blockchain Gamer, nearly $3 billion has been invested in virtual land by 2022. In October 2021, a report by MRS Digital showed about 2.5 million searches for the keyword “Metaverse”. Here is the list of top 10 potential metaverse projects in 2023 that you might be interested in.

    1. Decentraland (MANA)

    Decentraland is a decentralized virtual reality platform powered by the Ethereum blockchain. Decentraland was created in 2015 by Ariel Meilich and Esteban Ordano and is also the pioneer platform of this genre. Its first ICO took place in 2017 and then the project went public in February 2020.

    Like many other blockchain projects, there is a decentralized autonomous organization (DAO) that runs the Decentraland project. The platform is supported by two native cryptocurrencies with the first one (MANA) facilitating transactions and purchases of virtual land among other virtual items in the platform. The other token is called LAND and is a non-fungible token used to define ownership of parcels of land.

    The platform has hosted many notable events over the past few years; popular artists like Ariana Grande, Travis Scott, Marshmello and Justin Bieber have all successfully hosted virtual events on the platform. These explain why it is still a potential metaverse project in 2023 that we should pay attention to.

    2. The Sandbox (SAND)

    The Sandbox is a virtual Metaverse built on the Ethereum blockchain, where players can build, own, and monetize their gaming experience. Like Decentraland, Sandbox Metaverse features an ERC-20 utility token named SAND. The SAND token is used for value transfers as well as staking and governance.

    The Sandbox also allows users to upload, publish and trade their NFTs. Over the years, The Sandbox has partnered with renowned brands, artists and creators, including Snoop Dogg, Bored Ape Yacht Club, and Ubisoft. At the time of writing, The Sandbox’s market capitalization is around $680 million.

    3. Axie Infinity (AXS)

    Axie Infinity is a Play-to-Earn game inspired by popular Japanese video games like Pokemon and Tamagotchi. Axie Infinity uses NFTs to represent specific assets, plots, characters, items, and other in-game assets.

    To get started, users must connect their digital wallet and create an Axie Infinity account. The game operates on the Ethereum (ETH) blockchain with the assistance of Ronin, a sidechain that reduces transaction costs and delays. Axie Infinity focuses primarily on combat against computer-controlled Axie teams or live Internet opponents. While playing the game, users can sell objects such as the Axies they produce, in-game real estate and accessories on the NFT marketplace, and gain tokens generated by the game.

    Axie Infinity Shards (AXS) is the native token which is  required to play the game and acquire different in-game assets. Through staking, AXS also functions as a governance token, allowing its holders to vote in the game’s development.

    4. Roblox (Robux)

    Roblox is not a single game, but rather a collection of more than 50m games, all created by its community of players. It officially launched in 2006, and has been growing steadily ever since.

    In Roblox, players can interact by creating avatars, then select specific physical attributes such as health, custom skins, and other features available that are purchased with in-game currency, Robux. Roblox combines gaming, social media, and social commerce. Players can develop their own space, earn money and even trade their Robux.

    5. Sorare

    Sorare was one of the first NFT-based fantasy football games. Players assume the roles of football managers, picking players to assemble squads that compete against other players’ selections in a variety of weekly competitions. 

    The key to all of this is the player cards. Rather than selecting any player you like to form part of your winning squad, you must collect player cards before they can be let loose on the field.  This is where the NFT element comes in. Cards with limited, rare, super rare and unique rarity levels are minted NFTs on the Ethereum blockchain. This means that every card is accounted for, and its ownership can be traced accordingly. It allows players to own these digital tokens, giving them the agency to sell or trade them at will.

    (To be continued)

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