Types of Metaverses Available in the Market

Metaverse coins have been talked about for a while. Therefore, new participants in the crypto world may experience confusion about what exactly Metaverse coins are. In this article, I have listed three types of Metaverse coins on the market, each offering different functions to the ecosystem.

Play-To-Earn Metaverse Games

The first Metaverse coin type that you can often encounter in the crypto world is blockchain-based play-to-earn game coins. Games of this type use Binance Smart Chain, WAX, Polygon, Solana and many more platforms.

With more than 1 million users, we can say that Alien Worlds is the most famous example of this genre. Players can use their purchased NFTs to mine Trillium (TLM), which has real-world value.

3D Virtual Metaverses

Another type of Metaverse coin is 3D Metaverse platforms that offer players the experience of exploring virtual universes like Minecraft, Roblox, Fortnite. Due to the high complexity of this type of applications, it cannot be said that there are not many examples of this type in the market yet. Currently, the two most important representatives of this genre are Decentraland (MANA) and The Sandbox (SAND), both of which are worth multi-billion dollars. The main difference between Decentraland and The Sandbox is that Decentraland is a browser-based application whereas Sandbox is a downloadable game that must be installed on your computer.

Both Decentraland (MANA) and The Sandbox (SAND) are also used as platforms for play-to-earn games to be built in their respective universes. You can think of it like the difference between Bitcoin and Ethereum. While Bitcoin is only a cryptocurrency that provides a payment method, Ethereum also acts as a platform for other cryptocurrencies (ERC-20 Tokens). Similarly, while play-to-earn games offer you a gaming experience, 3D Metaverses also offer users a virtual universe where they can place these play-to-earn games.

Metaverse Platforms

Last but not least, Metaverse platforms, which include blockchains on which 3D Metaverses are built. We can say that the most popular of these is Ethereum, but this does not mean that the bottom wave created by WAX, Solana, IoTeX, BSC and more can be ignored.

Ethereum is the most famous and most reliable, as it is the longest-lived in the market. What makes WAX great is that it's been designed from the ground up for Metaverse games from the ground up. Solana is another major platform that aims to rival Ethereum. The Solana ecosystem is known for its successful design, great applications on its platform, and the famous NFT marketplace called “Solsea”. Solsea has managed to position itself as a great alternative for those who do not want to pay the high gas fees of Ethereum.

Another platform that deserves to be on the list is IoTex. IoTex includes a Web 3.0 application called IoPay that users can use and discover as of now.

Expectations are high for the Metaverse platforms to move forward in 2022. Although they do not currently support VR technology, only Decentraland and The Sandbox are truly Metaverses for now. We still have a long way to go for Metaverse applications to reach the expected maturity. Nevertheless, the expectation that revolutionary developments will occur in the Metaverse field in 2022 is dominant in many segments.