So, today we’re talking about the top metaverse and play-to-earn projects to watch out for in 2022.
Starting with Axie Infinity, which demonstrated the potential of the play-to-earn business model, allowing millions of people to play and earn a living in the Metaverse, creating social inclusion, and giving value to users’ time spent interacting with the game.
The gaming industry started with a pure pay-to-play business model, slowly moving towards a freemium model of games such as Fortnite.
Play-to-Earn was the next logical step of this path, giving back value to the users and communities of these projects.
With Axie Infinity, gamers can generate real-life passive income through play-to-earn features. Moreover, it has been in the market for a long time, which has helped build trust with investors.
Axie Infinity also goes beyond the gaming world because it allows investors on the platform to buy virtual land and develop the land, which is almost similar to what is offered by Decentraland.
Out of all the metaverse projects, Axie Infinity has the highest valuation. The project is powered by the AXS tokens that have been on a major bullish rally since the growing popularity of the metaverse. The AXS token is currently with the highest ranking from all metaverse tokens according to market capitalization, which is around $7 billion. So naturally, this comes first on my list, I expect it to continue to do really well in 2022 and it’s part of my portfolio – but I am trading the token, I just sold it on Binance and will be re-accumulating when it enters my buy zone – it’s one of the tokens that have a great performance and gives me a lot of great swing trade opportunities.
And while Axie Infinity is already quite established and has already made 18000% gains over the course of this year, it is fair to say that it won’t be able to repeat that performance throughout 2022 as it’s already captured a big chunk of the market and users are now looking into the next big thing, the next hot project that can present similar opportunities and this next project is one that I personally have my eyes on.
OVR is a project that I placed on your radar at the beginning of this year, when it was just about to launch and they have done really well since then.
In my interview with their co-founder Diego Di Tommaso, we talked about all the aspects of their metaverse and their tokenomics, if you missed this, it’s an episode from February and I’ll link it here. OVR is a cutting-edge platform powered by the Ethereum Blockchain
Users are able to have an interactive, augmented reality experience tailored to their current GPS position in the real world and thus, OVR is setting a new standard in the augmented reality sector.
Users can develop 3D content in the metaverse, own the space where it is hosted in the form of an NFT, and place it in any corresponding location in the world. I did a very deep dive into the specifics of this game-fi project, but even if you’re not a gamer, you can take advantage of the OVR token which is available on several exchanges – Uniswap, PancakeSwap, Gate.io and Bitmart are some of them – what I find to be great actually, is that they’re not yet on Binance, not even on Kucoin, which means that 2022 could see listings on these or other of the bigger exchanges and you know what that means for the price – we’ve seen the effect of listings on the bigger exchanges, so it’s always best to catch a token before it hits any of the big 5.
Also, even with the current market crash where many tokens are down by 50-60%, this one is only 25% down from its ATH and I’m 500% in profit in Bitcoin value and 497% in profit in fiat value with this one, so it’s one of the top performing assets in my portfolio. The price was below 50 cents when I featured it here on Crypto Corner and as of right now it is $2.49 and its marketcap is $72.5 million with almost $3 million trading volume in the past 24 hours. This means there’s still a huge potential for growth and 2022 will bring even more appetite for metaverse and game-fi projects, so this makes me confident to place this on top of my list.
In addition to that, they recently updated their tokenomics as reported in this article on bitcoin.com – from the beginning of November they launched their Token Burning Program which is designed to create scarcity – you know how much I love deflationary tokens and this makes it even more appealing.
In November they burned almost 250 000 tokens and that’s in addition to the 1 million tokens they burnt back in May, so I am very happy to see this.
The project’s team has decided to take 50% of the revenue generated from the ongoing sale of OVRLand on a monthly basis and manage it in the following way:
40% is directly used to burn tokens, and the remaining 10% is used to incentivize the sale of OVRLand on Chainlink.
OVRlands are the metaverse NFT tokens that users can buy, trade, customise – in other words, build unique user experiences and even rent for hire and collect regular income from them. If you’re familiar with metaverse and play-to-earn type of tokens, then you know what I’m talking about.
A sort of “lottery” takes place in which one of the OVRLand buyers is wins the remaining 10% of the revenues. It goes without saying that the more OVRLands purchased on Chainlink, the higher the probability of winning the jackpot. This is a really good prize guys.
To put this in numbers, by the end of last month, the platform had collected a total of 615,365 OVR from its sales of OVRLand NFTs, excluding GAS costs.
10% of this amount is the prize money, which is 61,536 OVR – at current rate of $2.49 this makes 153 thousand dollars. Imagine winning that… in addition to owning an OVRLand NFT.. who wouldn’t like that.
Furthermore, you can earn OVR tokens, if you don’t want to buy them and one way to do that is to take part in their Map2Earn program.
This is something new, and basically, thanks to AI capability, OVR is generating a detailed 3D map of the physical world in a metaverse on another level, based on simple images taken from the smartphones of its users who have decided to participate in the Map-to-Earn.
In fact, OVR users who join the initiative become real OVRLand Scanners and can earn OVR tokens simply by scanning physical locations with the smartphone in their pocket. They are being rewarded for taking part and actively help the expansion of the OVR metaverse. This is a new way of monetizing, similar to the play-to-earn that other DeFi games are offering. There’s a much more detailed post on their blog about the Map2Earn feature and how to take part if you want to earn some OVR tokens, so you can go check it out.
OVR was originally built on the Ethereum blockchain but with the help of Chainlink and BSC bridges, users are now able to buy OVRlands without the enormous Ethereum fees, so this is a big plus too. And of course, their Treasure Hunt, which is Pokemon Go style, where you can catch NFTs of other projects, for example the Treasure Hunt of Solchicks has just finished, in about 10 days they will start a new treasure hunt, so there are loads of opportunities to earn and profit with OVR – I’m really excited about this.
Ok, moving on to another obvious choice here: The Sandbox and Decentraland. These are both very well-known already, so I will not spend too much time on them.
Decentraland is the top favourite project for almost every investor who is interested in this sector. One of the best things about this project is that it was created several years ago, so the chances are that you already know a lot about it. It also allows investors to purchase virtual land properties and even invest in this land, thus adding to its value. Decentraland is powered by the $MANA token, which has also seen immense growth since the metaverse concept started making waves. Its marketcap is almost the same as that of Axie Infinity, it’s around $5 billion – of course this figure changes every minute with the price fluctuations but it’s firmly in the top 3 by marketcap for quite a while now, so naturally it’s also in my portfolio. It recently reached an all-time high of $4.33, following an over 400% price gain in a single month but it’s currently going through a correction just as well as the rest of the crypto market overall. This is why now is the perfect time to place these projects on your radar guys, the market is entering accumulation zones for many coins, so I hope you get to watch this video as soon as I post it – make sure you have the notifications enabled, so you know when I’m posting new episodes – as I always say, it pays to be early.
The other top metaverse project is The Sandbox. When it comes to a strong development team and a strong technological foundation, this project scores highly. It has been under development for the past four years, and despite offering a metaverse experience only recently, it has attracted a lot of attention.
The Sandbox is quite different from Decentraland because its metaverse experience is in the form of a gaming concept. Based on the Ethereum blockchain, The Sandbox allows players to create, buy and sell assets (e.g., items, equipment, scenery objects) in the form of non-fungible tokens, thus granting true ownership of every content created to gamers, not developers and publishers.
Their recent Alpha launch allowed investors to earn $SAND tokens and also be part of an NFT giveaway which has driven much demand for the SAND token. Thanks to this, it jumped a lot in price, which catapulted it to a marketcap of over $5 billion and the interest in the token has increased even more as a consequence. It’s jumped by over 300% in the last quarter and recorded an overall 13.5 thousand percent increase since it hit the markets. It’s already available on Binance and Kucoin and OKex and Huobi and many other exchanges, I personally trade it on Binance and Kucoin.
So both Sand and MANA tokens are proudly in my portfolio, now moving on to another lesser known token.
ILV – this is the token of the Illuvium project that is quickly gaining popularity among fans of blockchain-based games, and many NFT experts believe that ILV is a good investment to make in the current crypto market because of its huge growth potential. I couldn’t agree more, this is also heavily involved with the NFT sector. However, unlike many competing gaming projects, Illuvium is much more complex – it’s a real, full-scale AAA video game, and not just a simple app focused on collecting NFTs. Furthermore, It’s not only a play-to-earn type of game but it’s also free to start playing, which definitely makes ILV a good investment in my view. However, if you want to step up to the Tier 1 and higher regions, then you will need to put some skin into the game.
Also, Illuvium features other DeFi functionalities too such as yield farming. A certain number of ILV tokens is kept in a special reward pool and is gradually distributed to users providing liquidity to the IlluviDEX.
The unique ability to gain passive income through ILV yield farming contributes to the fact that the ILV price forecasts are looking very bullish and it’s a token I am yet to add to my portfolio, I am actually having a few buy orders placed and hope that this market correction will bring its price down to my target zones. Its current marketcap is under $1 billion, with a trading volume of 62.5 million in the past 24 hours. The total supply is limited to 7 million tokens – rather low if you ask me, and the circulating supply is less than 1 million tokens – meaning – it’s still early days and with plenty of time to grow and find more market appreciation. Looking great if you ask me. It’s on several exchanges – both Dexes and centralized ones, like Binance, Crypto.com, Gate.io and Sushiswap being the bigger ones and it’s currently sitting just below Enjin in terms of marketcap ranking.
Enjin is also in my portfolio guys and this is another very well-known project, so again, I will not go into much detail about it.
This is the least known project and possibly with the highest potential exactly because of this. Meta Spatial – a virtual reality Metaverse, with unlimited fantasy spaces linked together through the Spatial portal. The experiences built on the Meta Spatial Metaverse are inspired by science fiction novels, to lure crypto and non-crypto gamers into the Blockchain space.
Meta Spatial was researched and developed by Spatial Studio and it was launched just a month ago, so this is really in its infancy right now. Needless to say, this is yet to make waves on the market and the potential for gains is enormous.
With the Spatial Maker, gamers create assets and design their citizenship avatar, a requirement to participate in the Meta Spatial Metaverse.
There’s also a Spatial Wallet – this is the in-game wallet for storing Meta Spatial tokens and NFT assets.
The Gameplay: Players have 5 free trials for each day in all the arenas. There are four types of arenas:
Mortal Combat Team battle Fighting with Boss Fighting with AI- Artificial Intelligence.
The Meta Spatial DAO owns a SPAT wallet and controls the policies subsidizing various activities and initiatives.
Gamers earn $SPAT and $GSPA when they participate in activities.
SPAT is a BSC Bep-20 Token and the native Currency of the Meta Spatial.
The price is currently around 60 cents, but with the ongoing market correction I have lower price targets, so I have not yet accumulated any.
GSTA is BSC Bep-20 Token used for payment and rewarding gamers for participating in Meta Spatial activities; Spatial Moon and Spatial galaxy.
If you go to my blog post that goes with this episode, you will find links to all these projects and you can go check them out, do some more research, make sure you gather all the information you need to make a well-informed decisions as to whether you want to add any of these to your portfolio, again, a reminder that this is not meant to be an investment advice, I am giving you information for educational purposes, build up on this with your own research and take action accordingly.