Metaverse is a futuristic version of the internet as a single and immersive 3D virtual world. If that world has a decentralized economy, that means it’s owned by the users and not by any authority. So, decentralized metaverse projects are platforms that will feature a DeFi and GameFi model in their virtual worlds.
With these being huge buzzwords, it’s a great time to see which decentralized metaverse projects are worth checking out. Here’s an overview and what we can expect from each platform!
How Decentralized Metaverse Projects Work?
Metaverse is an immersive virtual world featuring a 3D environment and resembling many aspects of “real life.” It uses technologies like augmented and virtual reality, which are familiar to video game fans. Second Life was the first gaming platform that featured a metaverse. It allows users to design personal avatars and engage in different activities.
The financial metaverse component relies on crypto and digital currencies, as well as blockchain technology. You’ll find avatars and items owned in the metaverse are often nothing else than NFTs, which you can buy, trade, or sell.
Crypto is famous for its basic decentralization concept. It’s an approach where investors communicate directly, and all ownership is in the hands of users. There’s no central authority that does the decision-making, which aims to maximize participation and efficiency.
Best Decentralized Metaverse Projects to Consider in 2024 and Beyond
Metaverse has a huge potential, and it’s no wonder there are thousands of projects focused on it. Here’s the list of promising platforms that are worth trying or keeping an eye on in the future!
Decentraland
Decentraland is a metaverse platform that’s been generating the most hype. It’s already up and running, and some users have paid hundreds of thousands of dollars to acquire their plots in this virtual universe. The project uses Ethereum blockchain technology and features maximum decentralization.
MANA is the native token used in Decentraland. It’s already available for trading at top exchanges. As for the platform itself, it’s immersive and comprehensive. You can purchase apparel for your avatar from premium brands, play games, communicate with others, and visit events. Decentraland makes almost anything you can imagine possible, so it’s no wonder it’s the current metaverse world leader.
Sandbox
Sandbox is another metaverse built on top of Ethereum. At first glance, it looks like Roblox or Minecraft. The platform allows the creation of a unique gaming experience by using a 3D voxel technique.
SAND is the native token you’ll need to execute the transactions within the Sandbox environment. The project features over 70 million environments and worlds. NFTs created on this platform often rich high value and popularity. Many investors see them as a profit-making opportunity, but Sandbox also guarantees a lot of fun.
Axie Infinity
Taking care of digital animals in different games has been popular for decades. Axie Infinity allows the creation of unique characters called Axies, and you use SLP coins to breed them. By playing games, battling, and completing tasks in this metaverse, you earn SLP and upgrade your characters.
Axie Infinity uses another token to grant voting rights to users. AXS is the coin you need to participate in planning future platform development. That includes topics like which updates to include and how to use treasury balance.
Bloktopia
Bloktopia is a VR skyscraper that has 21 floors. The number was chosen because Bitcoin has a maximum supply of 21 million. Bloktopia is operating on Polygon, and it’s the main hub and a starting point for users to access different activities. You can earn crypto, learn, play, and design items.
A user can purchase “bloks” within Bloktopia. You can choose what to do with your blok, and the actions available include looking for sponsorships, leasing, or reselling it. Bloktopia has an NFT marketplace, and owning bloks is the way to get a voting right in the virtual universe.
Star Atlas
Star Atlas offers a different experience since it doesn’t hesitate to take you to space. Unlike other platforms, this project utilizes the Solana blockchain. The game’s open world is vibrant and offers impressive graphics.
You can fulfill different quests to utilize the play-to-earn model and get ATLAS coins. These help you get more assets, such as ships, equipment, and land. You can use ATLAS to acquire POLIS, which are governing coins. These allow voting on how Star Atlas will develop in the future.
Metaverse Has an Exciting Future
The metaverse concept is only in its early development stage. Technologies like AR and VR still need to develop and become more accessible to make all planned metaverse come to life. As time goes on, we’ll see these 3D virtual worlds getting better and more immersive.
Not only could it offer a new opportunity for investment and entertainment, but the metaverse has the power to change the entire world. The approach has a huge potential, and everyone’s looking forward to what the future has in store for it!
