The Metaverse is a connected, online universe explorable via 3D avatars. Users can work, socialize, create, and learn all in one place. It is regarded as the next evolution of the internet experience. While the web has PayPal and card payments, the metaverse has crypto to help create a digital economy.
Ethereum Blockchain remains the most popular platform for dApps and Metaverse coins. As the pioneer in smart contracts and DeFi, Ethereum’s blockchain hosts some of the most prominent players in the Metaverse. This article looks at the top 6 Metaverse project below $50m market cap built on Ethereum’s blockchain, in no particular order.
Bosagora is the blockchain system that aims to bridge the gap of traditional, centralised, finance and the online world of decentralised finance to create what it describes as true finance. It aims to do that with the Bosagora (BOA) cryptocurrency.
What Bosagora is trying to do is to bridge the gap between decentralised finance and traditional centralised finance. It is doing this using a system that it calls True Finance, or T-Fi for short. In an official statement, Bosagora said T-Fi “pursues more stabilisation and higher profits by complementing vulnerabilities of existing DeFis”.
The organisation behind Bosagora wants to link activities such as buying stocks and shares with its BOA coin, the native crypto of the network. One of the ways it wants to achieve this is through a partnership with the investment company FMWAY, which signed an agreement with the crypto organisation in November 2020.
At the time of writing this article, the Marketcap of this token on coinmarketcap is $39.57M and has a circulating supply of 886,959,940. Atari Token is an ERC-20 token created in 2020 to facilitate payments within the video game and interactive entertainment industry of Atari.
ATRI is the native crypto of Atari Chain, a subsidiary crypto company created by Atari and ICICB, which is one of the leading financial service companies in the Middle East. Atari represents one of the world’s most iconic video game brands.
Atari Chain aims to make ATRI easy to integrate directly into other developers’ games as a form of payment. Currently, ATRI can be used for trading, staking, and playing games.
ATRI documentation (whitepaper, strategy, and tokenomics) is unavailable at the time of writing. One of the official websites, AtariChain.com, states that the whitepaper is being updated and will be available soon.
The Marketcap of this coin is $31.42M, circulation supply is 173,684,291. vEmpire DDao is the first protocol to set out with the intention of invading others. vEmpire is offering DeFi-esque staking strategies of Metaverse Tokens, incentivised by the VEMP emissions schedule.
LAND & NFTs purchased within these pools will be monetized, with profits gifted back to stakers & reinvested to purchase and further invade the protocols where vEmpire makes their influence known.
VEMP was first tradable on 26th Aug, 2021. VEMP has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money.
However, You can still easily buy this coin by first buying Ethereum from any fiat-to-crypto exchanges and then transfer to the exchanges that offers to trade this coin.
Torum is a SocialFi Metaverse ecosystem that is specially designed for cryptocurrency users and projects. The Web 3.0 ecosystem is built on a social media platform at its core, coupled with a yield farming hub for DeFi players, an NFT marketplace for crypto artists and Avatar NFT for Metaverse enthusiasts.
Launched on the 1st of July 2020, Torum is now home to cryptocurrency enthusiasts from every corner of the world, including the US, Canada, Switzerland, Ireland, Italy, Germany, Portugal, Singapore and Australia.
It is a leading Multi-chain SocialFi Project of over 120,000 users. It also has Kucoin Labs & Huobi Ventures backing. The current Marketcap is 29.07M, with a circulating supply of 52,360,307.
MILC is a platform that leverages the power of blockchain technology to completely transform and simplify the process of creating, distributing, and streaming content.
With its unique set of products and features, MILC solves the four fundamental problems of the content industry – global availability of all video content, the discovery process for buyers, complex licensing for the entire industry, and early feedback from its audience.
MILC is being developed by Welt der Wunder, a media brand with 25 years experience in the business.
$MLT is the fuel of the platform serving as payment medium, proof of license contract, fundraising vehicle and community reward.
The Marketcap is $28.74M with 79,013,040 circulating supply. The token can only be purchased with another cryptocurrency on decentralized exchanges. To buy MILC Platform, you’ll need to first purchase Ethereum (ETH) and then use ETH to buy MILC Platform. And to do that, you need what’s called a Selfcustody wallet
The last on our list among Metaverse projects built on Ethereum Blockchain is GameCredits. It is a project created for the gaming industry by the gaming industry. It is an open source peer-to-peer digital cryptocurrency that allows gamers to purchase in game content using cryptocurrency.
It also allows payouts to developers and gamers. GameCredits’ primary initiative consists of developing a digital currency-driven gaming platform.
This platform is focused on providing a secure, elegant, and robust system aimed at replacing existing in-game buying options and mechanisms. It was incepted in 2015 under the name GamersCoin (GMC), but it was later rebranded to GameCredits (GAME). Its current marketcap is 25.98M with a circulation supply of 184,140,279.
For developers, GameCredit’s main focus is equitable, quick payout. As opposed to the industry standards set by Apple and Google Play, GameCredits will only take a 10% fee for any game sold on its marketplace, GPlay.
There is still a long way to go in the development of the metaverse. If you play the projects for yourself, you can see that the mechanics, look, and feel are quite basic. Many are still in the planning stages and not even available to test.
However, one thing for certain is that the number of new projects keeps increasing. No matter if it’s a large gaming company or a small metaverse crypto project, development is happening rapidly. The projects mentioned above are only a starting place.
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