Decentraland may be king of the metaverse, but Decentraland competitors are gaining ground.
The Metaverse is a crucial component of digital real estate. A wide variety of virtual worlds that let users escape reality, create their own virtual selves, and attend gaming events with their online or real-life friends.
According to market capitalization, the Decentraland coin ranks among the top altcoins. With returns of up to 5,300%, it was one of the best-performing tokens the previous year. The popularity of Decentraland as a top metaverse game may influence the uptake of MANA.
Decentraland’s offering appeals to institutional investors, which leads to significant price fluctuations. Even though the Decentraland real estate market is growing and has bright long-term prospects, MANA is still a very risky investment when compared to many other top cryptocurrency projects. Decentraland also faces competition from other virtual reality environments like Microsoft’s The Sandbox and Meta’s Horizon Worlds. Compared to Decentraland, both companies have a lot more outreach and resources.
The future value of Decentraland’s currency is extremely difficult to predict due to a variety of intricate factors. Here are some more risk-free investment options to Decentraland.
Before diving into Decentraland competitors, let’s recap what this metaverse game is:
What is Decentraland?
Construction on Decentraland started in 2016, and it became accessible to the general public in February 2020.
The Ethereum blockchain is also used by the platform. Similar to Sandbox, it enables users to create gaming events and NFTs to sell and use in those events.
The first metaverse project, the Decentraland platform, is well-known throughout the world, and virtual real estate there has fetched billions of dollars in sales.
The Metaverse Group recently paid $2.43 million for a Decentraland parcel, setting a new record for a real estate transaction. The two native tokens are MANA and LAND.
Decentraland and Sandbox differ from one another fundamentally in that the former places less emphasis on usability. To build on Decentraland, some coding experience is required.
The other projects on this list and the metaverse crypto project will probably compete for the top spot in the upcoming years. It does, however, help newcomers.
Does Decentraland have the most metaverse users?
One of the biggest metaverse platforms, Decentraland, reached a 300,000 user base in January 2022. However, because of the ongoing “crypto winter,” this number has decreased significantly in recent months.
1. Star Atlas – the ultimate Decentraland competitor
Star Atlas is a blockchain-based strategy game run on the Solana network, according to CoinMarketCap. The game takes place in the year 2620 and utilizes the Unreal Engine 5 Nanite feature to create a realistic and engaging environment.
Players can work together to explore the universe and conquer uncharted lands in the Star Atlas metaverse. Each player will control their own spaceship, which they must maintain and keep stocked with food, fuel, and weapons.
The in-game items in Star Atlas are set up similarly to those in other metaverse games as NFTs, allowing players to exchange them on the secondary market. The platform’s native token, ATLAS, serves as the in-game market’s native currency. The POLIS token, on the other hand, enables owners to vote on governance proposals made by the development team.
2. Axie Infinity
Axie Infinity is a platform for the metaverse that is distinct from the ones mentioned above. When the project’s popularity soared in 2021, investors rushed to purchase Axie Infinity, driving up the price of AXS by more than 7,300% in a matter of months. Axie Infinity continues to be one of the top metaverse platforms in the industry, despite the fact that the hype has somewhat subsided.
Axie Infinity, to put it simply, is a blockchain-based game where players can buy adorable monsters (called Axies) and engage in combat with them. These Axies can be traded on the game’s market using AXS because they are designed as NFTs. Users can breed their Axies to increase their chances of producing more and earning more money.
User skill is rewarded in this P2E game that pits players against one another or against AI-controlled Axies. The team behind Axie Infinity intends for the platform to develop into a DAO where users will have total control over platform governance. Many people in the metaverse are excited about this, so Axie Infinity will be the focus of attention in the upcoming year.
3. Roblox – the family-focused Decentraland competitor
Roblox is a platform for the metaverse that ranks highly on our list. Since Roblox is not hosted on a blockchain, it is different from the other metaverse platforms on our list. Instead, Roblox is an online community where users can interact while playing games created by both developers and other users.
Since anyone can make a Roblox game, this platform’s potential as a Decentraland competitor is limitless. Although these games are free to download and play, their creators may choose to charge money for extra in-game items. The native currency of Roblox, called Robux, is used to facilitate transactions.
Adopt Me! and Brookhaven are two games that have drawn millions of players over the past few years. Most of Roblox’s games are geared toward kids. According to Yahoo Finance, Roblox Corporation is now worth over $24.8 billion, demonstrating the massive scope of this metaverse’s largest company.
4. The Sandbox – the most engaging Decentraland competitor
One more of the top 2022 metaverse real estate initiatives is The Sandbox. Like Decentraland, players in the Sandbox can interact with one another, build virtual structures, and earn cryptocurrency by selling their creations. With over two million registered users, The Sandbox is one of the largest metaverse platforms.
The most alluring aspect of The Sandbox is “VoxEdit,” a no-cost 3D voxel modeling program that users can access through their computer. Users of this program are free to design any objects they want, including homes, pets, weapons, etc. Curiously, these works can then be organized as NFTs and offered for sale on The Sandbox marketplace.
One of the top metaverse coins over the past year, SAND, can be used to buy these assets from other users. The Sandbox Game Maker also allows users to create 3D games without any prior coding knowledge. The Sandbox is among the top metaverse platforms on our list as a result of these factors working together.
5. Battle Infinity
Battle Infinity is our choice for the best metaverse platform. Play-to-earn (P2E) fantasy sports gaming platform Battle Infinity features complete NFT integration. The Battle Infinity ecosystem, which is hosted on the Binance Smart Chain, connects everything to the metaverse through the “Battle Arena,” a detailed 3D environment where players can create avatars and interact with one another.
The platform is supported by IBAT, the native token of Battle Infinity. IBAT has many applications, including speculation and the distribution of rewards.
CoinSniper’s Know Your Customer (KYC) verification and SolidProof.io’s audit of Battle Infinity should put the minds of skeptical investors at ease. Battle Infinity has a tonne of exciting plans for the future, including the sale of NFT land and exchange listings.
In spite of an October 10 presale deadline, Battle Infinity has already raised nearly $1 million (nearly 3,000 BNB). It has already exceeded its soft cap.
6. Illuvium – the most beautiful Decentraland competitor
Our next Decentraland competitor is Illuvium. Illuvium is a different new metaverse platform that is gaining popularity in the industry. Illuvium is an open-world blockchain game with several RPG components, according to Binance Academy. Players in this game engage in combat with “Illuvials,” which they then capture and use to fight other players.
These illuvials are organized as NFTs, each with a distinct appearance and characteristics. Additionally, illuvials can be combined to produce stronger creatures that enable users to engage in combat and reap greater rewards. Prizes are awarded in ILV, the native ERC-20 token of Illuvium.
ILV can be staked in the “Illuvium Vault” or used to buy in-game items. Since Illuvium is governed by a DAO, ILV can be used to vote on governance proposals just like some other metaverse platforms on our list. Illuvium may emerge as one of the top metaverse gaming platforms for P2E enthusiasts when the full game is released sometime in 2022.
Zepteto, which is similar to Sandbox in its user-friendly tools and platform, would make a fantastic choice for the best Metaverse which is why we’ve included it as one of Decentraland’s competitors.
Using the available customization options, users can easily give their Mii-like avatars a semblance of their own likeness.
Over a dozen different types of user-generated content are already available for use on the platform. During COVID-19, the younger population of the country enjoys using the project, which is based in Korea, to interact with their peers.
The platform makes it easy for people to make their own video games by providing a user-friendly creator studio. The abundance of helpful tutorials and guides available on this platform bodes well for its potential for widespread adoption.
The newest endeavor of Yuga Lab, the company behind the well-known NFTs Bored Ape Yacht Club, is ApeCoin. Owners of the tokens have exclusive access to the Ape ecosystem’s goods thanks to the creation of these metaverse coins for their game Otherside.
The Otherside ecosystem offers access to five distinct regions that are divided into five tiers: Infinite Expanse, Rainbow Atmos, Cosmic Dream, and Biogenic Swamp. There are various rare items and a variety of resources in each section.
Yuga Labs raised $320 million in a virtual land sale before the release of the Otherside, and the sale itself generated so much traffic that it raised gas prices on the Ethereum network. Due to this, fewer Ape coins were sold, which also resulted in a decrease in the token’s price.
Despite numerous difficulties Yuga Labs encountered after the launch, the price of this metaverse coin is currently around $3. It has a market cap of $1.9 billion, making it the metaverse coin with the highest market cap and a worth Decentraland competitor.
9. Highstreet – the oddest Decentraland competitor
Users of Highstreet can make purchases using the virtual reality currency HIGH. The project’s founders raised $5 million in 2021, and as of July 2022, their market cap was over $20.79 million.
Users can play games and purchase NFTs in addition to everything else available for purchase on High Street. Additionally, Coinbase, one of the most well-known sites for cryptocurrency exchanges, now offers their coin HIGH for sale.
Given that some Shopify stores have already incorporated the platform into their operations, many investors and industry professionals believe that this is one of the best metaverse cryptocurrency projects that will be very successful in the future.
10. Gala’s VOXverse
The blockchain gaming platform Gala is well-known to almost everyone. It is renowned for developing a platform that allows users to freely trade in-game goods. The degree of power and ownership that gamers have is important to this metaverse project. It’s also important to note that players have the ability to design and customize their avatars.
Gala is a Web3 gaming and entertainment company that creates and sells non-fungible tokens (NFTs) as well as its own GALA token. This has allowed it to finance expensive games and attracted seasoned game designers like Wright, which makes it a significant threat tas a Decentraland competitor.
According to VentureBeat, Gala Games and Unity Technologies have partnered in a $20 million professional services agreement to carry out an ambitious metaverse project led by Sim City creator Will Wright.
In accordance with the agreement, Unity will apply its real-time 3D platform and development skills to the VOXverse, the metaverse for Gala Games’ VOX Collectible Series, a collection of games.
In conclusion, this guide has offered a thorough overview of the top 10 metaverse platforms that are Decentraland competitors which are currently available. We’ve delved into what they are and why investors like them. By 2030, the metaverse market will be worth $5 trillion, so all eyes will be on these platforms in the coming years.