Many of us have heard how the metaverse, particularly metaverse crypto projects, will be the next big thing. But what does that really mean? For those not familiar, the metaverse still sounds like an abstract concept. But in reality, the metaverse is already up and running and generating significant interest and income. Here are some of the big metaverse projects that you need to know about.
Decentraland is a 3D virtual world that was first launched in February 2020. A metaverse crypto project is based on the browser and allows users to buy virtual plots of land. Purchases are in the form of non-fungible tokens purchased with MANA crypto, which is based on the Ethereum blockchain. The concept of Decentraland came about in 2017 and was created by two Argentinians, Ari Meillich and Esteban Ordano. When the space first launched two years ago, plots of land sold for just $20. Since then, prices have risen to over $2 million.
With just 90,601 plots available, competition is high amongst those looking to buy virtual real estate. This price increase has been driven by interest from big names such as Adidas, Samsung, and PricewaterhouseCoopers. Big-name fashion brands have also held fashion shows in Decentraland, including Dolce & Gabbana, Estee Lauder, and Eli Saab. Additionally, big-name music acts like Deadmau5 and Grimes have performed there.
Bloktopia is one of the other leading metaverse crypto projects that provide visitors with an unparalleled virtual reality experience. But what is Bloktopia? The project is a virtual reality skyscraper that comprises 21 different floors. Billed as an “edutainment hub”, it is sat in the ruins of a previous world. Like Decentraland, it uses an NFT economy so users can buy and sell land and develop virtual real estate. They can also place adverts and organise events that can bring in revenue. The project brings together crypto, blockchain, virtual reality and augmented reality. It creates a space where investors, users, developers, and business entrepreneurs can exist in a decentralised manner.
It is created on the Polygon network developed by those behind Sony Playstation VR. The idea is that users avail themselves of advanced learning, earn money, play games, interact with other users, and network. It is home to shops and businesses across 21 levels, where many projects and personnel hang out. Those using Bloktopia hold Blok tokens, and plots of land in the skyscraper can be bought, developed, and sold.
The Sandbox is another metaverse crypto project. Here, users can interact, buy land, and purchase products and services in exchange for cryptocurrency. This universe started in 2011 as a mobile game called The Sandbox and then The Sandbox Evolution. It had over 40 million downloads across all device platforms before being earmarked for the blockchain ecosystem in 2018.
It was launched as a blockchain-based user-generated content gaming platform, giving content creators NFTs and rewards for participating in the new reality. The platform includes an editor, a marketplace, and a game maker. Participants can create virtual objects, sell them, and interact with them and others’ creations. Once items are uploaded to the marketplace, they are registered on the blockchain and become assets that can be sold for crypto. Users can also create parts of the metaverse for others to explore and use. There are a total of 166,464 plots of land in The Sandbox, with prices starting at $5000.
We are not developers or metaverse experts, but we do recognise the potential it holds. Fast Offshore has worked with companies in technological industries for over 24 years. These include gambling and gaming, blockchain and crypto, finance, eCommerce and more. Our team of professionals can assist you with setting up your business and keeping it running in whatever sector you want to work in. We cover company incorporation, licensing, payments, and all compliance and ongoing maintenance. If you want to launch a metaverse crypto project company, we can help. Contact Fast Offshore here.