“Metaverse” is a word that has gradually entered our vocabulary, since October 29, 2021, when Facebook rebranded itself “Meta” and published a video in which CEO Mark Zuckerberg states: “I believe that the metaverse is the next chapter of the Internet“. In its current meaning, the Metaverse generally refers to the concept of a highly immersive virtual world in which people come together to socialize, play and work.
Present and certainly future for all companies that want to remain competitive, the Metaverse also offers the possibility of hosting online events, such as Enry’s Island Investor Day, the first event dedicated to investors held in a virtual world. This event is just one example of the potential of the Metaverse in incubating and accelerating business. In fact, Enry’s Island has been planning the implementation of its Metaverse since 2018, with its evolution “from Platform to Metaverse“. This process is supported on the one hand by the construction of its own virtual space through investments in the startup HUI, and on the other hand, Enry’s Island is acquiring space in the main metaverses present on the market (to find out more, and support innovation, click here and access Enry’s Island crowdfunding campaign).
The international Metaverse Ecosystem
In a short time, they developed many different Metaverses on the market, but the most popular ones are The Sandbox and Decentraland. On this occasion, we will do a comparison of the best project on the market. Let’s start!
Top of the ranking: The Sandbox Vs Decentraland
Essentially, they both work in a similar fashion, with users being able to explore the virtual world and interact with other players. Sandbox and Decentraland Metaverses allow users to purchase virtual land and use it to create their own world. Additionally, there is a marketplace to sell assets for the platform’s native currency.
Another similarity between The Sandbox and Decentraland is that they are both developed on the Ethereum blockchain. As a result, the land is represented and stored as an NFT on the Ethereum blockchain.
Decentraland has a larger volume of 228669 eth and the cost of land is slightly more expensive 3.08 eth. The Sandbox, on the other hand, has a volume of 102363 eth, with a cost per land of 2.95. There are three types of tokens in Decentraland: MANA (the native currency), WEAR (wearables and items), and LAND (the virtual terrain). While in Sandbox, there are four types of tokens: SAND (the native currency), ASSET (user-created content), GAMES (user-created games), and LAND (the virtual terrain).
Sandbox is the Metaverse with the most collaborations, over 165 brands, including big names like Adidas or the rapper Snoop Dogg, Meanwhile, Decentraland is backed by over 20 investors, but has a partnership with Samsung and even the South Korean government.
Decentraland Wearables earns a place on the podium
The bronze medal for Decentraland Wearables, a blockchain-based virtual world of Ethereum, developed and owned by its users, who can create, experiment, and monetize content and applications. Wearables are worn in-game by avatars, and collecting and trading these unique NFTs is a great way for users to integrate into the growing community. The digital assets are released in limited edition collections and will be available for purchase right here at this store. Its traded volume is up to 77.9K eth and the cost of land is equal to 0.01 eth.
Somnium Space, the Future of an Open & Immersive Metaverse
Somnium Space is an open and social virtual reality world built on the Ethereum blockchain. Buy land, build or import objects, and instantly enjoy or monetize assets. Somnium space is a universe shaped entirely by its community of users. Last October, Somnium Space announced a strategic investment in TESLASUIT to continue pushing the limits of possibilities within its immersive and decentralized Metaverse and for the general market. To this Metaverse corresponds a volume equal to 26K eth.
Cryptovoxels, the Metaverse created by Nolan Consulting
Founded on April 1st, 2018, the Cryptovoxels project was built to initiate a Metaverse on the web, it allows users to make financial decisions that will be in their favor without hurting the community sentiments in the metaverse. The volume traded slightly exceeds 21K eth, against a high cost of land (2,3 eth).
Metaverses with a traded volume between 15K eth and 5K eth
Going down the ranking, we find 3 projects with an average volume, namely:
- Town Star (12K eth of volume), it’s gaming re-imagined to benefit creators and players;
- Treeverse (10K eth of volume), a browser-based metaverse that is geared to be a social media platform like Discord or Twitter, but with a more NFT-focused community
- The Meta Key (8K eth of volume), an experiment exploring the unlimited use cases blockchain tech can bring to a token, (NFT or FT)
Metaverses with a traded volume between 5K eth and 1K eth
- The Sandbox ASSETS, 4K eth of volume
- MegaCryptoPolis, 2K eth of volume
- Ember Sword Land, 2K eth of volume
- Illuvium, 1.6K eth of volume
- Decentraland Names, 1.2K eth of volume
- Polka City Asset, 1K eth of volume
- Big Time Founders Collection, 1K eth of volume
- Vegas City, 1K eth of volume
Metaverses with a traded volume less than 1K eth
- War Riders, 912 eth of volume
- Influence Asteroids, 847 eth of volume
- Aether, 699, eth of volume
- CryptoAvatars 196 eth of volume
- RFOX VALT, 16 eth of volume
- OxEarth,13 eth of volume
