As the leading metaverse real estate company, we get asked frequently about which metaverse platforms newcomers should research and explore so we’ve put together a list of popular platforms that we believe are worth looking at in 2022.
For a research-driven analysis of these and many more platforms in the space, check out our Industry Reports.
Disclaimer: Nothing you find on this page or anywhere else on our website should be considered financial advice. We may own assets in any of the metaverses mentioned below. We do not recommend buying or selling any particular assets described herein. Please do your own research and fully examine the risks associated with owning digital assets before investing.
Top metaverses to follow
Decentraland is a decentralized 3D virtual world that was originally launched by the Decentraland Foundation. The non-profit behind the platform was founded by two Argentine software engineers, Estaban Ordano and Ari Meilich.
Development of the platform is carried out entirely by the community and governing by the Decentraland DAO.
MANA tokens are the cryptocurrency powering the Decentraland metaverse. MANA is used to purchase virtual plots of land and other in-world goods and services. The token has a circulating supply of over 1.8 billion and is in the crypto wallets of users worldwide.
Users can use MANA to buy land parcels. For an overview of how land works in Decentraland [link to DCL article], check-out our article that breakdowns the key components of the platform.
The world centers around a plaza, called Genesis City. It shares similarities with early virtual games like SimCity and Second Life, and newer multiplayer games like Minecraft and Fortnite.
Major brands and influencers are actively investing in the metaverse, hinting at long-term appreciation potential. Last July, Sotheby’s launched a virtual art gallery replica of its London gallery in the Voltaire Art District of Decentraland, and Paris Hilton headlined a virtual concert with musical guests Deadmau5, Alabaster dePlume, and 3lau.
Axie Infinity Shards (AXS)
Using AXS, you can engage in the most notable play-to-earn game in the metaverse space: Axie Infinity. This virtual world experienced record-breaking growth in 2021 as the platform surpassed 2 million daily active users.
In the game, players battle creatures called “Axies” and acquire AXS that can be traded on crypto exchanges such as those described above.
Land can also be bought in Axie Infinity and is called Terra. The market in this virtual world incorporates traditional real estate economic principles such as location and development.
Parcels of land in Axie Infinity have sold for as much as $2.5 million. Despite a March 2022 hack on Axie’s Ronin Network, which ended up costing users a total of over $600 million, the platform remains popular and will see continuous content updates over time.
The play-to-earn game is extremely popular in the Philippines.
The Sandbox (SAND)
The Sandbox is a platform created with a similar art style to popular voxel games like Minecraft and Roblox. Like Decentraland, users can own, rent, sell, and develop plots of land.
SAND tokens are the cryptocurrency used in The Sandbox virtual economy. SAND tokens were awarded to individuals who participated in their alpha testing and can now be purchased on exchanges like Gemini and Binance.
If you didn’t participate in the testing phase, you can purchase LAND on Opensea and earn SAND by participating in activities, events, and contests in The Sandbox.
The platform is not yet fully released as of May 2022.
YugaLabs, creators of BAYC, minted a total of 55,000 plots of land for their Otherside metaverse on April 30, 2022. Otherside is a gamified metaverse that will allow users to control their NFT intellectual property in a virtual world.
The mint was subject to controversy, as it led to network congestion and exorbitant gas fees on the Ethereum network. There are still a lot of unknowns surrounding how land in the Otherside will be used.
Otherside will will be interoperable with other NFT projects including Cool Cats, World of Women, and CrypToadz.
Portals is a metaverse built on Solana that is designed to be an immersive social space where users can experience a city environment and design their own custom apartments.
The project was founded by Adam Gomez, who has experience at companies like Microsoft and Riot Games.
Residents can add features to their spaces like HTML games and art gallery displays.
We recently launched Everyrealm Arcade in the Portals Metaverse! Click here to drop right in and play some old school Atari games.
Treeverse is a social NFT platform stylized in the vain of classic MMORPGs. The land component allows users to own a customizable home they can teleport to from anywhere.
There are two main tokens in Treeverse: ROOT and SEED. ROOT is the governance token, while SEED is the currency you earn by completing tasks in the game.
The alpha version was released in September 2021 and sold out the initial mint of 10,421 founder’s private plots of land within one hour.
Treeverse recently completed a $25M fundraising seed round led by Animoca Brands and IDEO Ventures.
Somnium Space (CUBE)
Somnium Space is a virtual reality world built on and powered by the Ethereum blockchain. The CUBE token is the currency users need to purchase real estate in the Somnium Spaces metaverse.
NFTs and assets purchased within Somnium Space are compatible with other VR metaverses and platforms in the broader blockchain ecosystem.
Cryptovoxels is a VR-compatible virtual world that was built in 2018 by an independent game developer based in New Zealand. As with most of the metaverse platforms, Cryptovoxels is also based on the Ethereum blockchain.
In this world, the avatars possess a distinct mannequin-like appearance that you can fully customize. One of the unique features of Cryptovoxels is that you can display your own NFTs on your own property within the world.
For this reason, the virtual world has become popular for enthusiasts of “digital art”. Finally, in Cryptovoxels, you can bid on live listings of these art pieces using Ethereum tokens.
Want to become a metaverse expert?
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