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Coin prices in metaverse games are down. Land prices and in-game NFT values have dropped as well. But the fundamentals that made the five platforms in this article so popular only a few months ago, have not disappeared. The teams behind these projects are still building towards a brighter future. Now might be the best chance to join them on their journey.
Investment isn’t about what’s happening now. It’s about what will happen in the future. And even though it’s difficult to see past the red candles and downward trends that populate today’s charts, things will turn at some point. So it’s best to position yourself now, before the good times return and you realize you’ve missed the boat.
Discover recent land sales for different collections with the DappRadar’s NFT Explorer
We’ve put together a list of five metaverse platforms that have the best chances of working through the current downturn and coming out stronger on the other side. We’ve chosen them based on past performance, current activity, user numbers, reputation, and the small matter of hype.
Otherside and ApeCoin
Despite being the newest virtual world in this list, Yuga Labs’ Otherside already tops DappRadar’s lifetime rankings for NFT sales, on the back of its huge recent land sale.
Trading volumes for the Otherside already top $795 million and there’s no risk of the project fading into obscurity, due to its tie ins with blue chip collections BAYC, MAYC, BAKC, CryptoPunks, Meebits, Cool Cats, Nouns, World of Women and CrypToadz.
The ApeCoin token has been on a bumpy journey since it launched in mid-March. Bored and Mutant Ape could claim a free token airdrop at the time, worth $80,000 and $16,400, respectively.
In the run up to the Otherside land sale, ApeCoin reached a high of $26.70. When Yuga Labs starts building out its virtual world, thus giving the token utility, it’s reasonable to expect price appreciation as development continues.
Check current token price: APECOIN
The Sandbox and SAND
The Sandbox is second place in DappRadar’s all-time rankings for the volume of land sales. The virtual world has had a difficult 2022 compared to the previous year and the project’s token price is well off its lifetime peak of $8.40. But if it can even get back to half of that, an investment today is potentially a good idea.
The Sandbox recently announced a partnership with Mastercard to ‘bring its payments network to web3’ and already has Adidas, Animoca Brands, , CoinMarketCap, Gemini and more. You have to assume these big companies have done their research and have strong suspicions that the metaverse has a strong commercial future.
With its broad range of commercial and content partnerships, and strong reputation among the web3 community, The Sandbox is well-placed for the future.
Check current token price: SAND
Decentraland and MANA
One of the best-known metaverse platforms, Decentraland opened its doors in February 2020. Having been around for a relatively long period of time in the metaverse, the team behind the project has experienced the ups and downs that come with working in web3. So even though average sale prices have dropped by nearly 60% in ETH value, there won’t be huge levels of panic in Decentraland.
All kinds of activities by community members and organizations take place in Decentraland. For example the Digital Fashion Week by Boson Protocol in late March this year. Tommy Hilfiger, Dolce & Gabbana and Imitation of Christ were some of the labels showing off their wares.
The Australian Open is now in partnership with the virtual world, with a range of NFTs and a virtual tennis tournament. And the nation of Barbados plans to open a digital diplomatic embassy on Decentraland soil.
Overall, the signs look good. But as things stand, Decentraland’s native token MANA is 85% off its lifetime high of $5.85. But again, like every other world in this list, the fundamentals are there for the token price to rise. A strong team with good experience, and plenty of commercial and content partnerships should stand Decentraland in good stead when the bear market turns.
Check current token price: MANA
NFT World and WRLD
NFT Worlds had a great start to 2022. The average sale price of land rose to over $30,000 and the most expensive parcel sold for $190,095 in February. The platform also introduced a staking system for users to earn WRLD by locking up their assets. And holders can also rent out their land in return for profits.
In line with the market, land values and the price of the token have dropped. From a February 19th high of $0.62, WRLD has dropped by 96%. But builders are still building on the platform. Financial products like the SkuxxVerse Pass were created by third parties to capitalize on NFT Worlds’ expected future growth. The updated roadmap suggests the growth plan is strong.
Progress for this virtual world is based on its community and their input. The user-built environment on the platform is not contingent on token and land speculation. Users are attracted to NFT Worlds for more than money. This will be key to the long-term success of the platform.
Check current token price: WRLD
Mirandus token and MTRM
If it comes from Gala Games, the chances are it will be successful. The blockchain gaming giant already has Town Star, one of the most popular play-to-earn titles. The company will soon add Grit, Fortitude, Battlestar Galactica and plenty more in the coming months.
Gala Games is building an entire blockchain gaming ecosystem based around quality play-to-earn titles like the ones above. Users can earn GALA tokens to provide computing power to this growing network, and Mirandus is an important part of that.
Mirandus is one of the most hotly-anticipated play-to-earn projects on the market. Materium is the game’s native currency, and it’s dropped 87% from its high of $1.02. This peak was reached as recently as April and we reported on its popularity at the time.
The only thing that’s changed since then is the macroeconomic situation, in the wider world, that’s affecting crypto and NFT prices. What hasn’t changed is that Gala Games still builds excellent games that people want to play. In time, when financial conditions improve, Mirandus will still be here and its community will be bigger and stronger.
Check current token price: MTRM
Keep up to date with how each metaverse currency is performing by using our Token Explorer. You can find all recent land sales and the current average prices with DappRadar’s NFT Explorer. Use the NFT Collections rankings to get a view of how metaverse platforms perform over time.
