Disclaimer: This article is for educational purposes only. Binance is not affiliated with or endorses these projects. The information provided through the Binance platform does not constitute investment or trading advice or recommendations. Binance is not responsible for any investment decisions you make. Please seek professional advice before taking financial risks.

Summary

The Metaverse is growing at a rapid pace. Projects continue to evolve and connect to help bring more aspects of our digital lives together. Blockchain already plays a key role in this.

Binance Smart Chain is home to a large number of Metaverse projects. These projects include RPG games like Cyber Dragon and Alien Worlds, the Metaverse virtual world SecondLive, and even a player-owned casino called decentral.games. Card collecting games like TopGoal also have a place in the Metaverse.

On the Ethereum blockchain, Decentraland and Sandbox provide a similar Metaverse experience where users can create digital identities, purchase land, and trade NFTs on the NFT marketplace. These experiences combine work, life and gaming, and even allow players to participate in the DeFi economy while playing and earning. Through interaction and experience with the game, users may earn income. Bloktopia offers a similar experience with a 21-story digital skyscraper. Users can trade and rent real estate space on each floor to generate income.

While Project Enjin does not yet offer a 3D virtual reality world to explore, it does provide tools to create in-game NFT assets. NFTs are another important part of the Metaverse as they create digital collectibility. Through Enjin, users are able to create liquid NFTs that can be broken down into ENJ tokens at any time.

Introduction

2021 is a significant year for blockchain and cryptocurrency. From meme tokens to bull markets and NFTs, this industry continues to be a hotly debated topic. The second half of the year brought us another trend: the Metaverse. The Metaverse aims to capture the imagination of the public by combining our real-world social lives, work, and immersive technologies. Although the Metaverse is still in its early stages, cryptocurrencies are already beginning to play a central role. Let’s take a closer look at some of the blockchain projects that are helping to realize this new digital future.

Why are cryptocurrencies and blockchain important to the Metaverse?

To understand the importance of cryptocurrencies and blockchain to the Metaverse, we first briefly review what the Metaverse is. The Metaverse is an interconnected online universe that can be explored through 3D avatars. Users can work, socialize, create and learn all in one place. You can think of it as the next evolution of the internet experience.

While the web already has PayPal and bank card payments, the Metaverse uses cryptocurrencies to help create a digital economy. Blockchain has proven to be a very useful technology in six key metaverse areas: digital proof of ownership, digital collections, value transfer, governance, accessibility, and interoperability. Blockchain technology offers a transparent and cost-effective solution, making it ideal for the Metaverse. You can explore these six realms in more detail by reading our What is the Metaverse article. Let’s first look at how it applies to Metaverse projects on different blockchains.

Explore the Metaverse project on Binance Smart Chain

In terms of Metaverse, Binance Smart Chain Has experienced tremendous development. Projects range from collectible card games with real players, like Top Goal, to RPG-style games like Cyber Dragon and Alien Worlds; even player-owned casino decentral.games, as well as classic Metaverse virtual reality project SecondLive. You can learn more about what BSC offers by reading our selection of 5 BSC Metaverse Projects You Should Know.

What is "The Sandbox" (SAND)?

"The Sandbox" is a blockchain game where users can explore NFTs (non-fungible tokens), user-created environments and other content in this virtual world. Launched as a mobile game in 2011, The Sandbox has grown into a sophisticated game that uses Ethereum (ETH) and the token SAND to support its in-game economy.

Players can create their own virtual characters and digital identities, a key concept in the Metaverse. Avatars can be associated with crypto wallets to manage players’ NFTs, SAND tokens, and other blockchain assets. Players can even use VoxEdit and Game Maker tools to create games and virtual items. These powerful programs can create complex and professional video game assets, which you can subsequently convert into NFTs. Since users can trade these items, it creates an earn-while-playing model where users can earn extra income by playing The Sandbox.

What is "Decentraland" (MANA)?

Decentraland is a 3D world where players develop their own land, host events, create content, and participate in other social activities. Decentraland's core economy is based on the blockchain to establish digital identity, ownership, and rarity of unique items. This is one of the most well-known and popular projects, predating the Metaverse craze in late 2021.

Founded in 2016, Estaban Ordano and Ari Meilich took a basic 2D game and developed it into a world where NFTs are worth hundreds of thousands of dollars. The project also has its own ERC-20 utility token, MANA.

So, how did "Decentraland" enter the metaverse? In fact, it contains many elements of the metaverse: 3D interface, digital economy, social elements and in-game events. As more and more projects connect to "Decentraland", it also takes on the characteristics of the center of the Metaverse. Decentraland is also known for its virtual real estate NFT called LAND. In addition to providing voting rights in Decentraland’s Decentralized Autonomous Organization (DAO), LAND’s price has also increased significantly, making it popular among traders and investors.

What is Enjin (ENJ)?

Enjin is a blockchain platform focused on creating NFTs for game items. This project has released a software development kit (SDK) to make it easier for ordinary users to generate Ethereum-based NFTs. As NFTs have become an important part of the Metaverse, Enjin hopes to create a safer way for people to mint NFTs.

One of the most common complaints about NFTs is that they are liquid. You need to secure your NFT, which can be very time-consuming. However, Enjin NFTs can always be melted down in exchange for ENJ tokens. This means that as long as the price of ENJ does not reach zero, the NFT will always have some value. Converting NFT to ENJ provides instant liquidity as there is no need to wait for a buyer. By supporting digital collectibility and scarcity, Enjin looks set to become a very useful part of the Metaverse.

What is "Bloktopia" (BLOK)?

Bloktopia is another virtual reality metaverse game set in a 21-story skyscraper. Like Decentraland and The Sandbox, Bloktopia aims to be a hub for activities, socializing, work, and more. Layer 21 represents the maximum supply of Bitcoin: 21 million Bitcoins. This project uses the Polygon blockchain to support its four main aspects: learn, make money, play, and create.

1. Learn - Bloktopia will serve as a portal for users to learn about blockchain and how it powers the Metaverse. It provides a more accessible and interactive way to learn cryptography.

2. Earn Money - Bloktopia embraces the earn-while-playing model through its native token BLOK, virtual real estate called Reblok, and advertising opportunities provided by Adblok.

3. Entertainment - Users should be able to socialize with friends online and enjoy a variety of user-created games and content.

4. Creation - Bloktopia gives players the tools to create environments and even digital advertising spaces.

Earning while playing has become a hot topic in the gaming industry. The idea of earning money just by playing and interacting with games is very appealing. Decentraland and The Sandbox provided an easy way to sell real estate, but Bloktopia takes it a step further. Each floor of Reblok can be rented out to tenants or rented out for an event. Users also earn advertising revenue when other players invest time to pass levels.

Summary

The development of the Metaverse is still there Goes a long way If you experience these items yourself, you'll notice that the mechanics, look, and feel are very basic. Many projects are still in the planning stages and cannot even be tested.

What is certain, however, is that the number of new projects continues to grow. Whether it’s a large gaming company or a small Metaverse crypto project, development is in full swing. The projects mentioned above are just the beginning, so be sure to check back regularly for updates and news to keep up with the ever-evolving Metaverse.

Disclaimer: This article is for educational purposes only. Binance is not affiliated with or endorses these projects. The information provided through the Binance platform does not constitute investment or trading advice or recommendations. Binance is not responsible for any investment decisions you make. Please seek professional advice before taking financial risks.