Metaverse in just a tip has left many to wonder what mainstream adoption would look like, and how much more developers can make out of it. Talk about developers, products have been designed after the technology Blockchain to host its native utilities and as well render a platform for developing other Blockchain products.
Virtual reality has added color to the emergence of Blockchain technology. What more can draw users and even more call the attention of non-users to a product if not its variability or application to other products. The fascinating part of an innovative tool is its ability to add value to other products and turn them from what they used to be to more delightful output.
Blockchain protocols are networks with laid-down designs for applying Blockchain technology solutions to serve its intended users. From the Bitcoin Blockchain which uses proof of work to Ethereum and many other existing Blockchain protocols, there is a unique twist of the technology to best represent the solution they offer to the market. Among these Blockchain protocols is the Polygon Blockchain, just like other protocols Solana and Ethereum, they support the development of metaverse projects.
What is the Polygon Blockchain?
Polygon is an open-source project and a Proof of Stake Blockchain protocol for developing/ linking Ethereum-compatible Blockchain networks and combining Ethereum Blockchains into a complete multichain system. Polygon is a Blockchain platform built by developers for developers and runs In a multichain system that provides a considerable transaction gas fee, fast connection, and network security.
Polygon is characteristically secure, open, powerful, and fully benefits from Ethereum network effects. These basic characteristics further add to its features of scalability, Ethereum compatibility, sovereignty, user-developer experience, interoperability, and modularity, giving it the credit of mitigating ecosystem fragmentation.
With a decentralized team contributing from different regions of the world, the platform has over 7000 DApps built on its Blockchain.
Market Capitalization: What is MarketCap?
Market Capitalization is a cryptocurrency term, this term is used in determining the market value of a cryptocurrency by multiplying the total coin in circulation and the coin’s current market price.
The total market supply of Bitcoin is 21 million, and to calculate its market Capitalization is to multiply the total supply with the current market price. Say 19 million by $37,000 gives you the market capitalization of Bitcoin.
- If cryptocurrency A has a circulating supply of 500,000 with an individual coin price of $1, market Capitalization equals $500,000.
- If cryptocurrency B has a circulating supply of 150,000 with an individual coin price of $2, its market Capitalization equals $300,000.
Therefore the market Capitalization of cryptocurrency A is higher than that of cryptocurrency B, even with the price difference.
Marketcap evaluation is an essential parameter to a cryptocurrency investor because the value of a cryptocurrency and wise investment option shouldn’t be decided with just the price value of the cryptocurrency.
Top 3 Metaverse Projects below $20M MarketCap on Polygon
Decentral Games
This is a play-to-earn metaverse poker game powered by Decentral Games and ICE where players earn by going up in a competition against other players or completing daily challenges.
To participate in the ICE poker game, players are to purchase or by delegation get at least an Ice Wearable which is an NFT Wearable then get allocated a certain amount of chips to play the poker game. Some tasks or challenges if completed makes a player eligible to earn, they include
- Completing daily check-ins and competing for daily leaderboards
- Delegating and receiving NFT Wearables
- Scoring on the top monthly leaderboard
- Minting and selling NFT Wearables
- Mining
Players Journey in the Decentral Games Ice metaverse is in three steps where players buy ICE NFT or receive delegation (Step 1), play poker to earn ICE (Step 2), and player burn ICE to upgrade NFT (Step 3).
$ICE is the in-game token whereas $DG is the governance token. Both make up the dual token model of the platform.
$ICE has 100% of its total supply distributed across the platform. 90,000,000 ICE is allocated to Play-to-earn, 10,000,000 ICE allocated to Gameplay liquidity, 50,000,000 ICE allocated to DEx liquidity.
It is on the watchlist of 10,525, has a circulating supply of 109,057,225 ICE, and is ranked 815 on Coinmarketcap.
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Polychain Monsters
Polychain Monsters is a cross-chain digital collectible and play-to-earn ecosystem with extraordinary NFT; Polymon. Polymon is an animated digital collectible that can be unpacked using the Polychain Monsters token $PMON built on Polygon, Ethereum, and Binance Smart Chain.
The platform is currently developing a multichain play-to-earn game where Polymon NFTs will be used. For earning, by participating in stake and farm pools.
Polyverse is the Polychain Monsters metaverse. The polyverse has booster packs in which each pack is made up of 3 Polymon with randomly selected traits. With each booster pack opening, there is a 40% burn of $PMON, which decreases its total supply
To get a first Polymon pack, the user will have to:
- Get a cryptocurrency wallet
- Top up the wallet with ETH or BNB
- Get $PMON on a DEx
- Proceed to open a booster pack
- Trade Polymon on NFT marketplaces
- Take part in challenges and get rewards
$PMON has a circulating supply of 3,410,185 PMON, ranked 864 and on the watchlist of 30,168 people on Coinmarketcap.
REALM
Realm is an open-source project powered by Godot open-source game engine, that allows the original expression of artistic creativity in the user’s magical virtual realm; microverse. This breaks the structural limitations seen in the physical world and to achieve this, each player has access to the Realm suite of builder tools to fully express their creativity.
Users in the Realm ecosystem have the creative freedom to customize unique NFT virtual spaces, mint NFTs, travel between realms, and connect with friends via live audio streaming. Assets in the realm ecosystem; consumables and cosmetics, are multichain NFTs that can be minted on Layer 2 Polygon.
Realm has a utility token, $REALM. $REALM is a cross-chain token used in the Realm metaverse. A realm can be minted as an ERC-1155, and a realm can hold ERC-20 tokens which can be a $REALM token. To ensure immutability a copy of the realm is saved into the Interplanetary File System.
$REALM is a cross-chain token and initially an ERC-20 token which will also be available on Polygon Layer 2, Binance Smart Chain, and Reef chain. A player can move their token across chains.
$REALM utility:
- Purchases: users make purchases in the ecosystem busing the $REALM token
- Rewards: all participating users will be rewarded in Realms token. Participation could be creating realms, exploring realms, and looting boxes.
- Staking: players stake $REALM to earn rewards, get rare layer 2 NFTs, in-game advantage, and exclusive realms.
- Governance: players exercise voting rights using the utility token.
Realm has genetically encoded NFTs, which could be referred to as living NFTs. From Genesis pets which are the rarest of the Realm NFTs, to Mythic, Legendary, Rare, Uncommon, and common, are representations on Realm pets NFTs.
$REALM is ranked 3043, on the watchlist of 24,933 Coinmarketcap users, and has 42,023,730 REALM circulating supply at date of publication.
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