Metaverse tokens in the crypto industry have made phenomenal gains, including Decentraland (MANA) and Sandbox (SAND). Both tokens have quadrupled in a week. But that’s not all. Here are 5 Metaverse projects that promise more network growth in the near future as their market cap is much lower than the two projects mentioned above.
UFO games (UFO)
UFO is the first name on the list. The token turned the small cap to over half a billion dollars this summer. UFO differs from other Metaverse projects in that they build “Dark Metaverse”. Basically every game in the UFO Metaverse will be a planet of its own. You can think of the UFO metaverse as an ever expanding universe, like the one we live in in real life. Currently, UFO only has one playable game called Super Galactic. The project is planning further releases.
But what really caught the eye about the UFO project was its attempt to be a decentralized autonomous organization, also known as a DAO. UFO doesn’t have any team members or VC holding a large amount of tokens. The UFO founder even burned 50% of his entire supply after the start. Hodlers will be part of the UFO administration. You have the right to vote to enforce community decisions for the purpose of creating the “Dark Metaverse”. The largest owners have the right to vote DAO for the entire direction of development of this Metaverse project.
UFO is expected to grow into a multi-chain platform. That means they will contain holders of various tokens including ADA, MATIC, SOL, AVAX, etc. UFO is making big strides in the gaming industry. Gamestop, one of the largest companies in the entire gaming industry, reported on their blog about a recent eSports competition sponsored by UFO Gaming with prize money of $ 10,000. The fact that UFOs have caught the attention of the game industry giants is truly impressive. Plus, the GameStop hype is unlikely to hurt the UFO token either.
Volcanic forge (PYR)
PYR is the governance token for the Vulcan Forged Gaming platform. The project has grown from a tiny NFT platform to a real game studio with the hippest NFT marketplace with thousands of users, over 10 dApps and millions of trading volumes. This is a multi-game studio in the ecosystem that allows gamers to play for money (P2E).
There are many ways to earn in the Vulcan Forged ecosystem by staking out PYR. One of the impressive points of the project is the way in which tokens are distributed. Accordingly, 10% of the total supply will be distributed over the next 24 months to those who want to play games in order to make money.
When playing, the user receives lava crystals as a reward. This is an off-chain asset tied to the user’s wallet. That said, lava crystals are not interchangeable, but the more stacked lava crystals you have, the more PYR Airdrops you can receive each month.
Vulcan Forge is still under construction and completion. Therefore, find out more about the project before making an investment decision!
RMRK is a metaverse NFT based on the Kusama blockchain. The project is like NFT’s avant-garde. However, unlike most of the NFTs built on top of the Ethereum virtual machine you can find on OpenSea, RMRK NFTs are built to change and adapt based on their interactions with real people in the metaverse.
On the Kanaria collection created from the RMRK protocol, you can respond to the NFT with an emoji and from there the owner of the NFT has the option to change the NFT based on the reaction of the work Okay. Such functions give the RMRK a time-varying functionality that adds an additional color gamut to the NFT. It was almost like a living being based on the reaction of the crowd.
This is actually NFT in NFT. NFTs may even have other NFTs that can be incorporated into the original Kanaria NFTs.
Aavegotchi is like Tamagotchi except that it adds modern DeFi and NFT technology. Each virtual pet, or Aavegotchi, is an ERC-721 NFT token, in addition, they are powered by token staking via the Aave lending protocol.
The interest rate that can be earned with Aavegotchi depends on which tokens are used in Aavegotchi. In order to receive these tokens, you need to deposit your desired token with Aave.com. Let’s say you want an Aavegotchi to make a profit with Chainlink, you need to deposit 1 LINK on Aave.com. You will then receive a link token and use that token to invest in Aavegotchi. Owners can also use their Aavegotchi to take part in mini-games.
This project worked with a number of well-known companies, including a newly launched hedge fund called BlackPool, which specializes in NFT and Yield Guild games.
Circle of Merit (MC)
This project is a little different from the two above as it is not a game. Instead, Merit Circle fills a much-needed void in the monetization industry. Often times, people cannot join games like Axie Infinity unless they join early because the upfront amount is too high. That is a major obstacle to the adoption of these P2E projects.
In fact, $ 500 is not a number that the average person can easily spend on a game. So Merit Circle comes at the right time to resolve this issue. The project has teamed up with industry blue chips like Illuvium and Axie Infinity, a testament to the level of credibility. However, regardless of what their partnership is and how explosively the price goes, you need to be careful before investing your money.
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Disclaimer: This article is for informational purposes only, not investment advice. Investor should research carefully before making decision. We are not responsible for your investment decision