A recent report by McKinsey & Company, one of the world’s leading management consulting firms, noted that the metaverse niche could reach a remarkable $5 trillion valuation by 2030. Much of the growth in this niche will likely be fuelled by exciting new metaverse platforms that emerge in the coming years – with many already making their mark on the industry.
This guide will discuss ten of the best metaverse platforms on offer, exploring the features that make them so highly regarded, before diving into the potential benefits of investing in metaverse-based projects.
A Closer Look at the Best Metaverse Platforms
Those wondering how to invest in metaverse may wish to consider the projects on our list of metaverse platforms above. Each of these projects has generated tremendous buzz from social media and mainstream media channels – providing a solid platform for growth.
With that in mind, let’s dive in and explore these new metaverse platforms in more detail:
1. Battle Infinity – Overall Best Metaverse Platform for 2022
Our pick for the best metaverse platform is Battle Infinity. Battle Infinity is a ‘play-to-earn’ (P2E) fantasy sports gaming platform with full NFT integration. Hosted on the Binance Smart Chain, the Battle Infinity ecosystem ties everything back to the metaverse through the ‘Battle Arena’ – a rich 3D world where players can create avatars and interact with others.
As one of the best metaverse NFT projects set to launch this year, Battle Infinity offers several exciting features. These include:
- IBAT Premier League – A built-in fantasy sports league where all players are structured as NFTs. Points are generated through the real-world performance of these players, with rewards distributed to high-performing users.
- Battle Store – This feature contains a selection of the best play-to-earn games, providing even more ways for users to earn rewards.
- Battle Market – This is Battle Infinity’s NFT marketplace, where users can mint digital artwork, upgrade their avatars, and even purchase plots of virtual land.
- Battle Swap – This feature works similarly to the best DeFi exchanges, allowing users to swap tokens in a decentralized manner instantly.
- Battle Stake – This is Battle Infinity’s crypto staking mechanism, featuring solo/duo staking and even loot crates.
These features combine to ensure Battle Infinity achieves the top spot in our metaverse platform ranking. The platform is underpinned by IBAT, which is Battle Infinity’s native token. IBAT has various use cases, including rewards distribution and speculation.
From a safety perspective, Battle Infinity has been KYC-verified on CoinSniper and audited by SolidProof.io – providing comfort to those worrying about a potential rug pull. Looking ahead, Battle Infinity even has numerous exciting plans noted on its roadmap, including exchange listings and NFT land sales.
Almost $1 million (nearly 3000 BNB) has been raised so far in the Battle Infinity presale – which may sell out before its October 10th deadline. Its soft cap has already been passed.
Battle Infinity is running one of the best crypto presales at the time of writing, allowing early investors to purchase tokens at a discount. Those interested in keeping tabs on Battle Infinity’s development can do so by joining the platform’s official Telegram group.
2. Decentraland – Huge Metaverse Platform Offering Virtual Land
Another popular entry on our list of the top metaverse platforms is Decentraland. Decentraland is a 3D virtual world powered by the Ethereum blockchain where users can interact with others and monetize their created content. In addition, users can purchase plots of virtual land (called LAND) using MANA – Decentraland’s native token.
Since LAND parcels are structured as NFTs, this gives users complete control over their environment. In turn, this allows users to build 3D scenes and even create games with which other users can interact.
Decentraland is structured as a decentralized autonomous organization (DAO), meaning that the platform’s users essentially ‘own’ the platform. This allows the users to vote on governance proposals on elements such as UI changes or treasury distribution. Although Decentraland’s popularity has waned in recent months, it’s undoubtedly still one of the biggest metaverse platforms globally.
3. The Sandbox – Best Metaverse Platform for Customization
The Sandbox is another of the best metaverse real estate projects for 2022. Much like Decentraland, The Sandbox is a rich 3D world hosted on the Ethereum blockchain where players can interact with others, build in-world structures, and monetize their creativity. As one of the biggest metaverse platforms, The Sandbox now has over two million registered users.
The Sandbox’s most compelling feature is ‘VoxEdit’ – a free 3D voxel modelling program that users can access via their computer. This program allows users to create anything they’d like, whether that be buildings, animals, weapons, etc. Interestingly, these creations can then be structured as NFTs and sold on The Sandbox marketplace.
Other users can purchase these assets using SAND – one of the best metaverse coins over the past year. Users can also create 3D games using The Sandbox Game Maker without the need for coding experience. These elements combine to make The Sandbox one of the best metaverse platforms on our list.
4. Axie Infinity – Popular Monster Battling Game with P2E Elements
Those interested in different metaverse platforms from the ones noted above may wish to check out Axie Infinity. Investors clamoured to buy Axie Infinity in 2021 when the project’s popularity skyrocketed, leading the AXS price to increase by over 7,300% in a matter of months. Although the hype has subsided slightly, Axie Infinity remains one of the top metaverse platforms in the sector.
Put simply, Axie Infinity is a blockchain-based game where users can purchase cute monsters (called Axies) and battle them against others. These Axies are structured as NFTs, meaning they can be traded on the game’s marketplace using AXS. Users can also breed their Axies for a chance to create more – thereby generating additional income.
This P2E game rewards users for skilled gameplay, which involves battling other users or fighting computer-controlled Axies. Looking ahead, Axie Infinity’s team plans to evolve into a DAO, where users will have complete control over the platform’s governance. This has excited many within the metaverse sector – meaning all eyes will be on Axie Infinity over the coming year.
5. Illuvium – Vibrant Blockchain Game Offering Rewards Potential
Another new metaverse platform attracting attention within the market is Illuvium. As defined by Binance Academy, Illuvium is an open-world blockchain game incorporating several RPG elements. In this game, players battle and capture ‘Illuvials’, which can then be used to battle other players.
These Illuvials are structured as NFTs, each with its own aesthetic and attributes. Illuvials can also be combined to create more powerful creatures, which help users generate higher rewards through battling. Prizes are distributed in ILV, which is Illuvium’s native ERC-20 token.
5. Illuvium – Vibrant Blockchain Game Offering Rewards Potential
Another new metaverse platform attracting attention within the market is Illuvium. As defined by Binance Academy, Illuvium is an open-world blockchain game incorporating several RPG elements. In this game, players battle and capture ‘Illuvials’, which can then be used to battle other players.
These Illuvials are structured as NFTs, each with its own aesthetic and attributes. Illuvials can also be combined to create more powerful creatures, which help users generate higher rewards through battling. Prizes are distributed in ILV, which is Illuvium’s native ERC-20 token.
ILV can be used to purchase in-game items, or it can be staked in the ‘Illuvium Vault’. Like some other metaverse platforms on our list, ILV can also be used to vote on governance proposals since Illuvium is controlled by a DAO. With the full game set to be released sometime in 2022, Illuvium could become one of the best metaverse platforms for those interested in P2E gaming.
6. Bloktopia – Virtual Skyscraper with 21 Floors
Bloktopia is a 3D metaverse that incorporates the power of virtual reality to provide a fully-immersive experience for users. In essence, Bloktopia is a 21-storey virtual skyscraper paying homage to the 21 million Bitcoin (BTC) in existence.
Like other metaverse platforms, Bloktopia allows users to purchase designated spaces within the skyscraper, which are structured as NFTs. The platform is powered by the Polygon Network and uses BLOK as its native currency. Users who own space within the skyscraper can lease it to others and generate payments in BLOK.
Bloktopia also has a designated level for crypto-gaming, featuring an array of games designed to appeal to people of all ages. There’s also scope for companies to purchase virtual ad space within Bloktopia, leading to a new self-sustaining economy. Finally, Bloktopia even has a virtual auditorium where users can attend promoted events and earn BLOK as a reward.
7. Roblox – Best Metaverse Platform for Children
Another metaverse platform ranking high on our list is Roblox. Roblox differs from the other metaverse platforms on our list since it is not hosted on the blockchain. Instead, Roblox is an online platform where players can come together and play games made by developers and other players.
Since anyone can create a Roblox game, the potential for this platform is endless. These games are free to play, although developers can monetize them by offering the ability to purchase additional in-game items. Transactions are facilitated using Robux, Roblox’s native currency.
Most of Roblox’s games are targeted toward children, with Adopt Me! and Brookhaven being two platforms that have attracted millions of players over the past few years. According to Yahoo Finance, the Roblox Corporation now has a market cap of over $24.8 billion – highlighting the sheer size of this metaverse platform.
8. Metahero – Unique 3D Scanning Technology for Metaverse Platforms
Metahero is a unique metaverse project and one that differs from many on this list. Instead of a virtual world, the Metahero project offers valuable technology that allows users to scan real-world objects (or people) and transition them into the metaverse.
The 3D scanning technology that Metahero uses is industry-leading and allows users to structure real-world items as NFTs. Naturally, this will enable users to monetize anything they wish using HERO – Metahero’s native token.
The potential applications for Metahero’s technology are endless, as it essentially acts as a ‘bridge’ between the physical and virtual worlds. Given Metahero’s use case, many investors have already scrambled to purchase HERO tokens, which can be acquired through many of the best crypto exchanges.
9. Star Atlas – Massive Space-Based Blockchain Strategy Game
According to CoinMarketCap, Star Atlas is a blockchain-based strategy game hosted on the Solana network. The game takes place in the year 2620 and leverages the power of Unreal Engine 5’s Nanite to provide an immersive gameplay experience like no other.
Within the Star Atlas metaverse, players can team up with others and explore the universe, conquering unknown territories. Each player will have their own spaceship, which they need to maintain and supply with fuel, ammunition, and food.
Like other metaverse games, Star Atlas’ in-game assets are structured as NFTs, meaning users can trade them on the secondary marketplace. ATLAS is the platform’s native token, which serves as the native currency of the in-game market. However, there is also a POLIS token, which allows holders to vote on governance proposals put forward by the development team.
10. Nakamoto Games – P2E Gaming Ecosystem with Upcoming Metaverse Project
The final entry on our list of the best metaverse platforms is Nakamoto Games. Nakamoto Games is a blockchain gaming ecosystem containing games created by the Nakamoto team, along with games created by users.
There is an abundance of games available to play through the Nakamoto Games ecosystem, such as sports games, shooting games, action games, and more. The ecosystem also offers regular tournaments where users can compete against others to win huge prizes.
Although this ecosystem differs from the others on our list, the Nakamoto Games team have announced plans to launch their own metaverse platform called ‘The Nakaverse’. The creators will be offering virtual land parcels within this world to increase immersion for Nakamoto Games users. Users can purchase land using NAKA – the ecosystem’s native token.
What are Metaverse Platforms?
The concept of ‘the metaverse’ has been around for decades, first used in Neil Stevenson’s novel Snow Crash, released in 1982. Since then, numerous companies have delved into this exciting niche, with the release of the Oculus Rift in 2010 being a significant milestone. This was followed by the popular movie Ready Player One in 2018, which gave people the first look at what a ‘true’ metaverse could look like.
However, the definition of a metaverse platform has changed in recent years. It is now used to describe a virtual platform (usually 3D) that allows developers to create experiences far exceeding what can be achieved in the real world. Many of the best metaverse games leverage virtual reality to provide a fully-immersive experience for users.
Nowadays, discussion of metaverse platforms tends to refer to those hosted on the blockchain or those that incorporate cryptocurrencies/NFTs. This makes it easy to create self-sustaining marketplaces where users can create in-world items (structured as NFTs) and then sell them to others.
As mentioned in the introduction, a recent report by McKinsey & Company stated that the metaverse sector could generate up to $5 trillion in value by 2030. This would make it one of the fastest-growing areas of the blockchain sector – meaning we can likely expect an abundance of exciting new projects to launch in the coming years.
How do Metaverse Platforms Work?
As highlighted in our list of the top 10 metaverse platforms, many projects offer unique features not found in other projects. This is achievable thanks to the exciting way that metaverse platforms work.
Most of these platforms will incorporate cryptocurrencies or NFTs – or both. Users can buy cryptocurrency native to the metaverse platform (e.g. IBAT for Battle Infinity, MANA for Decentraland) and use it to purchase in-game items. Most of the time, these items are structured as NFTs, providing ‘true’ ownership within the metaverse.
Metaverse platforms allow players to create their own customizable avatars, which act as a player’s in-world presence. These avatars can then wander around each platform’s 3D virtual world and interact with others – providing scope to form friendships with like-minded people.
Many of the best metaverse platforms, such as Decentraland and The Sandbox, will also enable players to construct in-game items. This feature allows for limitless opportunities in terms of customization and monetization since these creations can often be structured as NFTs and sold to others.
Since most of the projects on our list of metaverse platforms are blockchain-based, this offers a fully-decentralized experience for users. It also means that users’ in-game assets cannot be tampered with, and ownership is clearly stated. For example, if someone owns a specific plot of virtual land, everyone in the network can see it since the information is publicly available.
Finally, several companies are looking to integrate virtual reality (VR) headsets into the metaverse, providing a fully-immersive experience for users. Investors often purchase these metaverse stocks to gain exposure to this trend – which looks set to gather pace in the years ahead.
Types of Metaverse Platforms
Now that we’ve covered the metaverse and how it works, let’s take a closer look at the different metaverse platforms that users can interact with. These platforms can be divided into three main categories:
Non-blockchain (Centralized)
The first category is ‘non-blockchain’ metaverses – also described as centralized metaverses. As the name implies, these platforms are not hosted on the blockchain but are created and operated by a centralized entity. The most common example of this metaverse type is open-world video games, such as Grand Theft Auto or The Witcher.
The revolutionary browser-based game ‘Second Life’ was the first non-blockchain metaverse to bring the concept into the mainstream. However, these centralized metaverses have fallen by the wayside in recent years due to the popularity of blockchain-based platforms.
Blockchain-based (Decentralized)
Most of the best metaverse platforms mentioned in this guide are hosted on the blockchain, meaning they are entirely decentralized. This has many benefits, including allowing users to retain full ownership of their in-game assets and creations. For example, if someone created an item in one of the new NFT projects mentioned earlier, this item cannot be tampered with.
Decentralized projects also provide a great deal of anonymity, allowing players to remain private whilst interacting with others using avatars. Finally, many metaverse projects are now structured as DAOs, meaning those who use the platform have control over its future moves.
Virtual reality (VR)
Finally, virtual reality metaverse platforms have become more popular over the past year since they offer an immersive experience that browser-based platforms cannot replicate. Users must own a virtual reality headset to access these platforms, meaning there’s usually a significant initial outlay.
However, the experience offered within these platforms is unmatched, as players ‘feel’ like they are inside the game. Companies such as Meta Platforms are deeply invested in this area of the metaverse – leading many investors to buy Meta stock to gain exposure to this growing trend.
Benefits of Metaverse Platforms
Investing in the best metaverse platforms can be lucrative, especially given the forecasted value of the metaverse niche in the coming years. With that in mind, detailed below are some of the main benefits of investing in these platforms:
Potential to Earn Rewards
Like the best crypto games, many metaverse platforms enable users to earn rewards through skilled gameplay. This trend towards ‘play-to-earn’ (P2E) gaming has gathered pace in recent months, offering a way for users to monetize their skills.
Rewards tend to be distributed in the platform’s native token – for example, Battle Infinity’s rewards are delivered in IBAT. However, these tokens can often be swapped for other digital currencies, meaning rewards can essentially be used to pay for goods and services.
New Way to Socialize
One of the main benefits of the best metaverse platforms is the ability to interact with others in a brand new way. The lockdowns resulting from the COVID-19 pandemic helped open doors in terms of interaction without being physically present – which is something that metaverse platforms can help with.
Users in these virtual worlds can create avatars and talk with others, regardless of where they are in the world. Furthermore, the shared experiences within the metaverse can also allow users to transfer these friendships to the real world.
Limitless Customizability
Naturally, these metaverse platforms offer a place where users can express themselves to their fullest. Decentraland and The Sandbox allow users to create in-game structures that can be interacted with and sold on the marketplace.
Users can also customize their avatars however they please, providing an accurate in-game representation of themselves.
Invest in Virtual Real Estate
Many metaverse platforms offer NFT real estate, which essentially refers to plots of virtual land within the platform’s 3D world. Since these plots are structured as NFTs, they provide true ownership of a specific section of the metaverse.
These plots of virtual land can often be costly, especially in popular worlds. For example, Investing.com reported recently that a plot of land was sold in The Sandbox’s world for a staggering $4.3 million.
Integration with Cryptocurrencies
Finally, metaverse platforms are also beneficial since they integrate with the cryptocurrency world. Rather than using FIAT, these platforms use crypto tokens to facilitate purchases and distribute rewards.
This has numerous benefits, such as allowing users to easily swap one token for another. Furthermore, users can also benefit from any price increases associated with the crypto tokens they earn in-game – leading to even more income.
Best Metaverse Platforms – Conclusion
In summary, this guide has provided a comprehensive overview of the top 10 metaverse platforms on offer today, diving into what they are and why they are so highly regarded amongst investors. With the metaverse niche forecast to reach a $5 trillion valuation by 2030, all eyes will be on these platforms in the years ahead.
Battle Infinity is one platform that has caught investors’ attention due to its compelling combination of play-to-earn (P2E) mechanics and NFT integration. With the project’s presale raising an impressive $600,000 in just eight days, Battle Infinity is undoubtedly one metaverse platform worth watching.
