The Hidden 5 Metaverse Projects That Are Important In 2022

Last Updated August 25th 2022
5 Min Read

Cryptocurrency projects with a basis in the Metaverse have been the latest exciting development in the industry. Prominent investors and large companies are betting big on this new digital reality.

Through the implementation of metaverses, crypto projects can revolutionize how people interact with one another. Not only that, these virtual worlds open up pathways for digital asset ownership and in-game monetization, which has the potential to transform many industries.

To help deepen your understanding of this flourishing area, this article will discuss the hidden metaverse projects that are important in 2022.

 

Decentraland (MANA)

The Ethereum blockchain powers the virtual reality platform Decentraland. This virtual world was established to enable users to create, experience, and make money from the developed apps. Decentraland users can purchase land on which they can develop a variety of items that will enable them to build games or game assets and even monetize them.

Ariel Meilich and Esteban Ordano are the minds behind the Decentraland initiative. The team behind this project began working on it in 2017 after raising more than 26 million dollars via an ICO. The Decentraland metaverse did not debut until the Beta version in 2019 and was not made publicly accessible until February 2020.

MANA, one of the best metaverse crypto, is the virtual money used in Decentraland Metaverse and allows users to interact with the metaverse. On the official Decentraland marketplace, for instance, you can use your MANA tokens to pay fees, purchase goods, real estate, and many other things.

Currently, one token is worth around $0.83, with a prediction for the price to go up to $2.44 by 2025. Hence, experts believe MANA is one of the hidden 5 metaverse projects that are important in 2022.

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Highstreet (HIGH)

Highstreet is a virtual reality shop where users can shop using the currency HIGH. In 2021, the project founders raised $5 million, and their market cap is now over $19 million. 

Among everything available for purchase on Highstreet, users can also buy NFTs and can play games. Also, their coin HIGH, which is the native token of the commerce-centric decentralized metaverse, is now listed on Coinbase, one of the most popular crypto exchanges. 

Apart from enabling a two-way currency flow between virtual and physical worlds, Highstreet also presents an open market where players can redeem in-game assets for real-life products within the gaming ecosystem. Additionally, users can explore the metaverse during gameplay, fight virtual monsters, complete quests, and acquire goods that have both on- and offline utility.

As a governance token, HIGH allows gamers to vote on significant platform decisions, make profits through staking (play-to-earn games), and purchase products on the Highstreet marketplace. Property owners stand to collect taxes on their property in HIGH. The token can also be obtained through special events in the metaverse.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Axie Infinity (AXS) 

The crypto community vouches for Axie Infinity as one of the 5 metaverse projects that are important in 2022. It currently has more than a quarter of a million daily players. The players own tokens, called AXS, which give them a stake in the ownership and operation of the game. Players can build kingdoms, search for rare resources and hunt for treasures. The most engaged players earn rewards through the metaverse blockchain.

Players compete to earn monsters called Axies, non-fungible tokens (NFTs) that can be bought and sold outside the game. The cost of these tokens can range from around $4 to more than $100,000, depending on the rarity. However, the most expensive Axie was sold for 300 ETH. 

AXS, like many other metaverse coins, is based on the Ethereum metaverse blockchain, which means that gas fees can be high. However, you can be confident in the platform’s safety and security. AXS can also be traded for other cryptos, such as Ether or fiat currency.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Bloktopia (BLOK) 

Developed as a decentralized metaverse project, Bloktopia is built on the Polygon blockchain. A decentralized VR skyscraper, it consists of 21 levels - a nod to Bitcoin’s total supply of 21 million coins. 

This skyscraper built on virtual land acts as a central hub for users to access immersive content and crypto information in one place. Here, “Bloktopians” can choose to learn the basics of cryptocurrency or delve deep into its technical aspects. They can also earn revenue by owning virtual real estate, playing games, building networks, and more. 

Bloktopia strives to create an engaging user experience by adding various elements which allow users to engage in an immersive experience per Bloktopia's four core pillars: Learning, earning, playing, and creating. 

For these reasons, we believe Bloktopia to be one of the hidden 5 metaverse projects that are important in 2022.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Apecoin (APE) 

ApeCoin was launched by Yuga Labs in 2022 and is an ERC-20 coin native to the Bored Ape Yacht Club (BAYC) community and Otherside, a metaverse game. Yuga Labs raised about $320 million in a virtual land sale that allowed APE token holders to purchase parcels called Otherdeed, which is the key to claiming land in Otherside.

Otherside is a metaverse game that will feature a full-fledged MMORPG (Massively Multiplayer Online Role-Playing Game) virtual world integrated into the BAYC ecosystem, which means it will likely also utilize ApeCoin in some way.

The ApeCoin token is both a governance and a utility token, which will have multiple use cases in the ecosystem, including the participation of governance of the DAO or even enabling holders to access exclusive mints, games, events, merchandise, and services.

Its growing popularity in the crypto community makes ApeCoin one of the hidden 5 metaverse projects that are important in 2022.

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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

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