Crypto

Metaverse companies to keep an eye on in 2022

Metaverse companies to keep an eye on in 2022

The Metaverse is the new hot topic in the crypto world. Ever since Facebook changed its name to Meta ($FB), many more investors and VC’s have gotten interested in the Metaverse space. Metaverse Group recently bought digital land in the Decentraland metaverse for $2.6 million!

The Metaverse is so new that most of the hardware required for a whole Metaverse experience has not been fully developed yet. Some say investing in the Metaverse now is like investing in altcoins in 2014: there is simply no way to know this early which metaverse coins will survive and which ones will die off and be forgotten. Right now, we are in a purely speculative phase.

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Regardless, some high-profile investors like  Lorne Sugarman are comparing buying land in the Metaverse today similar to buying property in Manhattan in the 1800s. It is tough to tell if they are claiming this just to generate hype and interest during this early stage or if they actually mean it. The land in many of these Metaverses is indeed limited, so if the Metaverse attracts enough users, then the land in these Metaverses could become extremely valuable.

The Sandbox metaverse is already getting built by relatively large companies and celebrities, such as Snoop Dogg and Atari.

So, what makes a Metaverse project successful over another one? The answer could be the community. As long as more and more people are playing inside the Metaverse, then the value of the coins and the land might go up. One example could be the Axie Infinity token: It was at some point traded at 15 cents, and its current price is around $100. It also reached over $160 back in November  as more and more gamers were playing the play-to-earn videogame. This could show that the community around the game is still strong and that people are still playing Axie Infinity quite a lot.

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Which are some Metaverse companies to keep up with for next year?

Overall, it will depend on which Metaverses grow the most, and for now, it is simply too early to tell.

However, some Metaverses are already quite large and seem to be at the forefront of the metaverse industry, so it might be worth keeping an eye on. These Metaverse companies are Decentraland, Sandbox, and Illuvium.

Decentraland 

Metaverse companies to keep an eye on in 2022

Decentraland is an open-world full of minigames and activities via [Decentraland.org]

Decentraland already has 300k monthly active users and 20k daily active users. Of course, that is still nothing compared to the millions of people playing Axie Infinity, Roblox, or Minecraft every day, but the community is steadily growing.

Cointelegraph reports that some larger investment firms might be willing to spend almost $1 million on acquiring the most valuable land in the Decentraland metaverse. Of course, since the amount of daily active users is still tiny, all of this is just speculation.

Regardless, there have been a few virtual concerts in the Decentraland metaverse, bringing big-name artists like Deadmau5. This trend of virtual events in concerts in the Metaverse, boosted by a post COVID19 culture of higher awareness of distancing and post pandemic measurements might continue and could attract a much larger crowd to the Decentraland metaverse.

Decentraland has quite a significant backing, as well as a dedicated team. However, the downside about Decentraland is that few people see it as a fun game to play so far.

Sandbox 

Metaverse companies to keep an eye on in 2022

Alpha Season 1 best moments via [Sand Box]

Sandbox is still technically in its alpha stage, so it is not attracting as many users as Decentraland. However, the Sandbox metaverse’s land  has called the attention of some famous faces, like Snoop Dogg, who’s partnering with Sandbox to recreate his mansion, with some land adjacent to Snoop Dogg’s virtual estate selling for $450k worth of Ethereum

Sandbox is one of the larger projects out there, with a team over at Animoca Brands. Their land sales have fetched some pretty heavy prices, and the Metaverse seems like a fun and light game to play compared to Decentraland. Its blocky style of graphics reminds us of Roblox of Minecraft. Nearly anything can be built in the Metaverse, and Sandbox is certainly more heavily backed compared to many other metaverse projects out there.

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Illuvium 

Metaverse companies to keep an eye on in 2022

via [CoinQuora]

Illuvium promises to be one of the first AAA games run on the Ethereum blockchain. It is pure speculation for now, as the game has not yet been released. However, the game has an impressive team and a great demo. Most Metaverse games are not seen as hardcore gamer-friendly. Illuvium promises to change this.

For now, some are still waiting for the official game to come out. The Illuvium game has been in development for a while and will remain in development until it is fully ready to be released. Therefore, investors could be taking a big risk with Illuvium. However, like many speculative investments, if the game does turn out to be as unique as it promises, then being an early investor in Illuvium could yield outstanding results to its token holders. Illuvium is backed by some large crypto players, such as Blocksync ventures and LD capital. 

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The Bottom Line

Overall, the Metaverse is extremely new, and most of it has not even been built yet. Although the Metaverse industry might be snowballing, it is simply too early to tell which metaverse will remain relevant 10 years from now. Large firms and investors are willing to chuck money at these metaverses, hoping that just one of them turns out to be the one that most adopt. Of course, these investors should be well aware that most of their Metaverse investments could go to 0. Speculators just need one solid investment that does 100X or more to recoup all of their losses.

Therefore, one strategy is to follow the communities using the Metaverse, instead of the big whales. As long as there is a robust and active community behind the Metaverse, big money and investments might follow. Therefore, one could focus on actually playing the Metaverse games, and exploring which games are fun. It could be the most fun games that reward their users properly which might end up being successful, and deliver impressive gains for the early investors.

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