Which metaverse-related cryptos to invest in 2023

What is Which Metaverse-Related Cryptos to Invest in in 2023

The metaverse is a concept that has been around for decades, but it is only recently that it has become a reality. It is a virtual world where users can interact with each other in a digital space. The metaverse is made up of various components, including virtual reality, augmented reality, and gaming. These components are all connected, allowing users to seamlessly move between them.

Cryptocurrencies that are related to the metaverse are gaining popularity as more people become interested in this virtual world. These cryptocurrencies are designed to be used within the metaverse, allowing users to buy virtual goods and services, as well as to interact with each other. Investing in metaverse-related cryptocurrencies can be a smart move for those who believe in the growth of this industry.

Metaverses offer new investment opportunities

The metaversesimmersive and decentralized virtual worlds based on blockchain and non-fungible tokens (NFTs), are generating growing enthusiasm among real estate investorstechnology companies and major brands.

Since 2021, it is the race to acquire lands. These lands are non-fungible tokens, i.e. property titles registered on the blockchain, where you can build anything you want, such as virtual stores, concert halls and other immersive experiences.

👉 Check out this article to better understand metaverses and comparison criteria

Metaverses attract as much as they intrigue investors

Like the New World of the Americas at the time of Christopher Columbus, the grounds of the metaverses are unexplored territoriesunknown and unpredictable. Investors in the metaverse take risks, but are attracted by the potential for capital gain and return on investment in these lands.

Indeed, the metaverse economy promises significant gains, especially in sales of virtual goods and services. Thus, according to a report by Grayscale, one of the largest asset managers in the cryptocurrency world, the metaverse could represent an annual market of $1 trillion in the years to come.

To access this market, you need to have your footprint, and therefore buy or lease land on the metaverses. We quickly understand the interest of investing in these virtual lands.

But which metaverse to choose? There are many metaverses, but not all of them offer to buy land yet. We will focus here on the 4 pioneer metaverses that are Decentraland, The Sandbox, Somnium Space and Cryptovoxels. These have in common that they offer the purchase and resale of land on the blockchain, in the form of non-fungible tokens, that they offer a certain freedom of construction to the owners and that they are accessible for free.

Decentraland (MANA)

Decentraland is one of the oldest and best known metaverses. It is a metaverse based on the Ethereum blockchain. Created in 2015 by Argentine engineers Estaban Ordano and Ari Meilich, the project raised $26 million in an ICO in 2017.

The MANAwhich is worth almost $3 at the time of writing, is the native cryptocurrency of the game. It is necessary to have MANA in your wallet to acquire any type of virtual goods in the metaverse of Decentraland, whether it is clothes or land.

👉 For more details, see our Decentraland page

Land prices on Decentraland

In February 2022, the cheapest land sell for almost 4.5 ETHwhich is equivalent to 12,500 dollars. In recent months, the average price of a parcel of land in Decentraland has continued to rise. A piece of land in Decentraland, for example, sold in 2021 for nearly $2.5 million.

Land configuration

There are 90,601 lots and each of these lots measures 256 m².

Rules of construction

The height of the structures depends on the size of the lot. Thus, for one lot, the maximum height will be 20 meters high. It will be 31.7 meters high for 2 lots and 69 meters high for 10 lots. The maximum height is 143 meters for an estate of 143 lots (see table on the Decentraland website). Thus an estate allows the construction of a larger exhibition area.

Music festival in the Decentraland metaverse in October 2021

Highlights of Decentraland

Decentraland is a truly decentralized metaversewhich belongs to its users. The platform is intuitive and offers many tutorials.

On the other hand, it is one of the most attractive metaverses. Important investment companies have bet on this metaverse in 2021, such as Tokens, with nearly $3 million invested in 116 parcels, to build a Fashion District, and Republic Realm, with an investment of $4.3 million.

Decentraland also boasts the presence of major brands and influencers, with for example the virtual replica of the famous auction house Sotheby’sthe Voltaire art district, which brings together major NFT platforms such as SuperRare and KnownOrigin. Its “ Metaverse Festival “of 2021 was a pioneer in the field and was a success, bringing together 80 artists (including Deadmau5) and 50 000 visitors.

Other asset: the great diversity of activities offered on Decentraland. There are museums, casinos, stores, music festivals, a university and soon even a fashion show.

Calling all designers, brands and fashionistas.
Decentraland x @UNXD_NFT presents Metaverse Fashion Week.
A week of Catwalk shows, pop up shops, after parties and immersive experiences 24th – 27th March 2022
have your collections ready! pic.twitter.com/BXkpAV1TOJ

– Decentraland (@decentraland) December 26, 2021

Where can I buy land in Decentraland?

Land is for sale on the official Decentraland marketplace, as well as on NFTs sales platforms such asOpenSea.

The Sandbox (SAND)

The metaverse The Sandbox is also one of the most popular metaverses. Developed by two French co-founders, Arthur Madrid and Sebastien Borget in 2011, it was acquired by the Animoca Brands group in 2018. It is backed by a fundraising of $93 million in 2021. For its part, the Animoca brands group also just raised $359 million and is valued at $5 billion.

The Sandbox has the advantage of having many partnerships with more than 165 major brands, such as Atari, Adidas, Warner Music Group, Binance or the Smurfs.

All purchases in the virtual world of The Sandbox are made with a token, here the SAND. It is also possible to buy land in Ether (ETH).

Map of The Sandbox

Land prices

As of February 2022, you should budget at least 2,700 SAND or 3.5 Ethers (ETH), or nearly 10,000 dollars for a 9216 m² plot of land, at the time of writing this article. For the best-placed plots, prices can reach several million euros.

Land configuration

The Sandbox metaverse is composed of 166,464 lots. Each lot measures 9,216 m². There are two categories of land: “regular” and “premium”.

Highlights of The Sandbox

The Sandbox offers three components: a “ NFT Builder “(NFT production tool for creators), a ” Marketplace “(store), and a ” Game Maker “(game development tool).

Another advantage is that the virtual world map is quite well constructed, and allows for easy navigation and quick visualization of plots. It also allows owners to place a logo on their plot.

It should also be noted that the possession of a ” Land “Provides a voice in the governance of the metaverse, and influence future decisions.

Finally, The Sandbox is owned by Animoca Brands, which is a privately held company and is therefore professionally managed, with a vision and a structured development plan.

Where and how to buy The Sandbox land?

Land is for sale on The Sandbox marketplace during public sales (see the agenda of future sales), the last of which took place in January 2022. These are announced in advance to the community, via the platform’s social networks. Land can also be found on the secondary market on NFT platforms such as OpenSea and Rarible.

Get ready for another LAND Sale! 🏙️ We’re heading to MEGA CITY!

🔹61 LANDs
🔹95 Premium LANDs (with bundled #NFTs)
🔹7 ESTATEs

🗓️ January 13th @ 1pm UTC

Full details 👉 https://t.co/0DAolVHUkE pic.twitter.com/zzg1gWFYxI

– The Sandbox (@TheSandboxGame) January 5, 2022

Axie Infinity (AXS)

Axie Infinity is a blockchain-based game where players can collect, breed, and battle creatures called Axies. AXS is the cryptocurrency used within the game, allowing players to buy, sell, and trade Axies and other goods and services. The game has already seen significant growth, with its user base growing from around 30,000 in January 2021 to over 2 million in November 2021. The value of AXS has also seen significant growth, increasing by over 11,000% in 2021.

Other Metaverse-Related Cryptos to Consider

1. Enjin Coin (ENJ) Enjin Coin is a cryptocurrency that is designed to be used within the gaming industry. It allows users to buy, sell, and trade virtual goods and services. Enjin Coin has partnerships with major game developers like Minecraft and is well-positioned to benefit from the growth of the metaverse.

2. Gala (GALA) Gala is a blockchain-based gaming platform that allows users to play and create games. It also has a virtual world component, allowing users to interact with each other in a digital space. GALA is the cryptocurrency used within the platform, allowing users to buy virtual goods and services.

3. Flow (FLOW) Flow is a blockchain platform that is designed to support decentralized applications and digital assets. It has partnerships with major brands like NBA Top Shot, which is a blockchain-based platform for buying, selling, and trading collectible basketball moments. Flow has the potential to benefit from the growth of the metaverse, as more virtual experiences and assets are created.

4. Polkadot (DOT) Polkadot is a blockchain platform that aims to provide interoperability between different blockchains. It allows developers to build and connect different applications and blockchains. Polkadot has the potential to benefit from the growth of the metaverse, as it provides a way for different virtual worlds and experiences to be connected.

Somnium Space

Founded by Artur Sychov and developed by a Czech team in 2017, Somnium Space is one of the most recent metaversesbut also one of the most successful. It is built on the Ethereum blockchain.

It can be accessed via a PC, a smartphone or with a virtual reality (VR) headset for an immersive experience.

Mostly known for its music events, Somnium Space has developed many partnerships, including with cryptocurrency exchange platforms Gemini and FTX, or the NFTs sales platform Nifty Gateways.

The metaverse Somnium Space uses its own cryptocurrency, the Somnium Cube (SOM).

Map of Somnium Space

Land prices in Somnium Space

At the beginning of February 2022, the minimum price of land is about 3.6 ETHthat is nearly $10,000. It costs 4 ETH for an XL size plot.

Terrain configuration

On Somnium Space, 5,026 plots of land are available for sale, according to the platform’s guide. Sizes vary from 200 to 1500 m². Somnium Place plots are organized around a river, not in a grid like Decentraland or The Sandbox.

Plots vary in size and are therefore available in several sizes: small (S), medium (M) and large (XL). Their altitude is different, with some plots overhanging the others.

Building rules

S-size lots are 200 m² and can be built to 10 meters in height or depth. The M size lots are 600 m² and can be built on 25 meters high. Finally, the XL plots are 1500 m². They are buildable on 50 meters high. It is possible to buy rights to build on greater heights.

Somnium Space highlights

Somnium Space is really sized for virtual reality use. The “photo realistic” graphics can attract an adult audience. The platform proposes the use of holograms for a realistic representation of avatars. It also develops a range of virtual reality headsets (VR). Finally, it offers a very complete user guide and a real event log, the Somnium Times.

Where to buy Somnium Space land?

Land is available on NFTs platforms such as OpenSea, and in sales advertised on Somnium Space’s social networks.

Cryptovoxels

Cryptovoxels is a platform founded by Ben Nolan in 2018 and based in New Zealand. It is built on the Ethereum blockchain.

This metaverse is entirely built by usersbut remains the final property of a private company. It is mainly focused on digital art and offers many museums. The graphics are pixelated like in video games of the type Minecraft.

Transactions on Cryptovoxels are exclusively in Ethers (ETH).

Land prices on Cryptovoxels

Land can be found from 1.5 Ether (ETH), or about 4,200 dollars.

Land configuration

It should be noted that the amount of land available increases as the metaverse develops. Originally, the metaverse had 3,026 terrains. There were about 6,500 as of December 2021, according to the metaverse analysis site Meta Metriks.

Plot sizes varyand their building height depends on their size. For example, a plot of 9 meters by 19 meters allows a building height of 11 meters.

Cryptovoxels strengths

Cryptovoxels is very easy to use and build. All users are free to create their own accessories (” Wearables “), which is not the case on Decentralandwhich submits creations to the approval of a ” Committee “.

This is an ideal platform for artists, due to the concentration of galleries it offers and the advanced features to integrate with NFTs sales platforms.

Where to buy Cryptovoxels lots?

On the Cryptovoxels “Marketplace”, during the weekly sales that are announced on the Cryptovoxels Twitter account, or on the secondary market, on NFTs selling platforms.

Overview of the virtual world of Cryptovoxels

Conclusion on investing in metaverses

This comparison can help you choose your pitch according to your target audience and your budget. Of course, you have to keep in mind that there are many other metaversesand that many more are in the works, including by Epic Games, Niantic, Microsoft, Meta, and many others.

Let’s also remember that investing in metaverses, is a bit of a rendezvous in unknown lands. We don’t really know what these virtual universes will become, nor who the neighboring peoples will be.

Such an investment remains highly speculative and one can only encourage investors to be cautious and to diversification of their holdings.

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