The Metaverse ecosystem is becoming richer each day with numerous fields joining in. Generally, the gaming market stands out prominently in this ecosystem. Architects and early inhabitants of the metaverse have played a fundamental role in shaping it, especially in the gaming industry. The ecosystem has rapidly expanded, with innovators and major tech companies joining in, notably with Facebook’s recent announcement of its participation.
The current categories integrated into the Metaverse ecosystem include Centralized, Decentralized, Avatar & Identity, User Interface & Immersion, Economy, Social, Play-to-earn & Play-to-collect, Crypto Wallet & Asset, Marketplaces, and NFT/Blockchain Developer Services.
Additionally, foundational infrastructure categories contribute to this ecosystem, such as Cloud, Scalability & Hosting, Visualization & Digital Twin, Artificial Intelligence, Decentralized Infra, Adtech, and Connectivity.
Metaverse Coin Metaverse-related coins have experienced significant growth, especially after Facebook’s announcement of its future direction towards Metaverse with enhanced virtual reality and augmented reality fees. The market capitalization of this category has surged by 262.9% in just 18 hours, reaching $13.4 billion.
Furthermore, major coins within the Metaverse ecosystem have seen remarkable increases, such as MANA, an Ethereum token powering the Decentraland virtual platform, and STARL. Both MANA and STARL have seen a 50% increase in value in a single day.
One of the top gainers among Metaverse ecosystem coins is ETHV (Etheverse), the token of a virtual universe built using Minecraft and the Ethereum blockchain, with a remarkable increase of 112.8%.
Axie Infinity, a famous online NFT-based gaming platform, has generated revenue exceeding $7.5 billion, up 11%.
Apart from these prominent Metaverse coins, there are other types of Metaverse currencies in the Metaverse coin category, including Enjin Coin (ENJ), WEMIX (WEMIX), The Sandbox (SAND), Yield Guild Games (YGG), Dvision Network (DVI), DeFi Warrior (FIWA), and many others.
Outstanding Projects in the Metaverse Ecosystem
- SecondLive SecondLive is a 3D virtual world environment where users control avatars to socialize, learn, and conduct business. The project also features an NFT marketplace for trading collections. In September 2020, SecondLive organized the Binance Smart Chain’s Harvest Festival as part of its first anniversary celebration. The virtual exhibition introduced various projects within the BSC ecosystem for users to explore and interact with.
- Axie Infinity Axie Infinity is a play-to-earn game offering players in developing countries the opportunity to earn a stable income. By buying or receiving three creatures called Axies, players can start breeding Smooth Love Potion (SLP) tokens. When sold on the open market, breeders can earn between $200 to $1000 USD depending on their playing time and market prices.
Though Axie Infinity doesn’t provide an individual 3D character or avatar, it provides users with a metaverse-like job. There are famous stories of Filipinos using it as an alternative to full-time employment or welfare.
- Decentraland Decentraland is a digital online platform within the Metaverse ecosystem that combines social elements with cryptocurrency, NFTs, and virtual real estate. Similar to other blockchain games, players actively manage the platform. In-game NFTs are used to represent various collections and land parcels called LAND, which users can purchase in the game using MANA coins. Players can also decorate their land with NFTs purchased on the game’s marketplace. Players’ NFTs can be listed for sale on the same marketplace.
- Enjin (MetaCity) Enjin MetaCity is a game within the Metaverse ecosystem inspired by Minecraft and is the world’s first free-to-earn NFT real estate. Currently, MetaCity has only 70 NFT land plots available for owners to develop various businesses. MetaCity and Minecraft players can cross-trade items with each other.
Another interesting aspect of the game is its creative economy. Users will create assets and earn a living by doing what they love. The good thing about this platform is that users can use their cryptocurrency assets within MetaCity.
Recently, MetaCity launched the Fractured Lands NFT properties. This means users can request a land plot that an NFT will be created to prove its unique value. Anyone can start playing the game for free and earn startup money to buy NFT plots on Minecraft servers.
- Sorare Sorare is an NFT soccer game built on the Ethereum blockchain and belongs to the Metaverse ecosystem. Over 180 soccer clubs are officially licensed on the Sorare platform, with more clubs joining every week. Players can use the cards they’ve purchased to create a fantasy team. Each card represents an actual player. Based on the player’s performance on real fields, card owners will earn points. Each week, teams with the most points will receive new cards as rewards.
To join the virtual world of Sorare, users can create a free account using their email, and they can purchase Sorare NFT cards via bank transfer, various credit cards, Apple Pay, and Android Pay. People from over 40 countries can buy Sorare NFT cards. The “Lionel Messi” NFT card was bought for 7.9 ETH.
Conclusion
Metaverse is currently a hot keyword in the online community, and here is some information about the Metaverse ecosystem, Metaverse coins, and interesting and exciting projects from the Metaverse. Users now have more knowledge about a giant platform with potential to replace the Internet in the future.
Hopefully, updates, innovations, and additions to devices and infrastructure will be completed soon so that users can experience familiar things on a completely different platform.
FAQs – Frequently Asked Questions
What does the Metaverse ecosystem include? The Metaverse ecosystem is becoming richer each day with numerous fields joining in. Generally, the gaming market stands out prominently in this ecosystem. Architects and early inhabitants of the metaverse have played a fundamental role in shaping it, especially in the gaming industry. The ecosystem has rapidly expanded, with innovators and major tech companies joining in, notably with Facebook’s recent announcement of its participation.
What are the Metaverse coins? Besides prominent Metaverse coins like MANA, STARL, ETHV, and AXS, there are other types of Metaverse currencies in the Metaverse coin category, including Enjin Coin (ENJ), WEMIX (WEMIX), The Sandbox (SAND), Yield Guild Games (YGG), Dvision Network (DVI), DeFi Warrior (FIWA), and many others.
What are the outstanding projects of the Metaverse? Across various fields, the Metaverse offers projects such as SecondLive, Axie Infinity, Decentraland, Enjin (MetaCity), Sorare, and many others.
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