According to new research, the metaverse could contribute $3 trillion to the global market within 10 years if it evolves in the same way mobile technology has in terms of adoption.
In Europe, the expansion of virtual worlds could mean a contribution of 1.7% or 440 billion dollars (417 billion euros) in the continent’s economy over 10 years, concluded a study published by economic experts of the international consulting firm Analysis Group.
Like mobile technology, the metaverse promises to have a profound impact on society: transforming economic sectors such as education, healthcare, manufacturing, vocational training, communications, entertainment, and retail. We will go through the top 3 projects in this area of business leveraging cryptocurrency and blockchain.
Arcomia is an upcoming metaverse on Ethereum where gamers, content creators, and traders will unite to create virtual experiences and monetize assets. Arcomia will provide a destination for Arcomians to live, interact and flourish in a fully ubiquitous web3 experience. While their metaverse is still in development, it promises a wide range of features that no other metaverses have seen before. From their open world that scales both horizontal and vertical to their awesome design work using Unreal Engine 5.
To obtain their in-game RCM tokens, a public token sale will take place on the 28th of November, which is expected to sell out in record time due to its rapid community growth seen on Discord.
2. The Sandbox
The Sandbox is a great alternative for when you prefer a more simple metaverse with less functionalities that are already playable to some extent. The game runs incredibly smoothly but has not much to offer yet. They have had some delays when it comes to development but are making progress now. However, it is one of the biggest metaverses due to the first-mover advantage. Are they able to keep up the pace?
Decentraland is a very popular decentralized metaverse. Decentraland is known as the first player-owned metaverse. Similar to Arcomia and The Sandbox, the world is player-developed, requiring users’ imagination to create businesses, digital assets, art, play-to-earn games, and more. While they are one of the bigger metaverses, not many users are satisfied with their graphical quality. The entire platform is restrained for performance (on purpose), so it can work on lower-tier hardware. It is browser-based, which creates some more constraints too.
Whether you are an investor or just a social gamer, we recommend learning more about each metaverse before deciding which metaverse you want to invest your time, energy, or hard-earned cash in. The bottom line is always to see which suits your preferences first.