What is all the Hype About?

First, let's discuss the hype. Last year, the metaverse became a term, especially after Meta announced its intention to construct 3D social worlds linked to its Oculus headsets as a significant corporate initiative.

Now, what is the metaverse? While there have been countless debates on metaverses and the future of Web 3.0, we may expect more this year when events like the forthcoming Metaverse Summit 2022 take place.

"Really, What is the Metaverse?" according to a Gartner article. According to Andrew White, Gartner's chief of research, data, and analytics, the metaverse will be a digital replica of the universe.

Warcraft, a massively multiplayer online game, is an outstanding example of a metaverse, according to White, who cites its permanent existence, autonomous instance, freedom, and interoperability as proof. Gartner expands on White's description by defining metaverse as "a permanent and immersive digital world made up of separate but linked networks that communicate through yet-to-be-determined protocols. It allows for the creation of permanent, decentralized, collaborative, and interoperable digital material that interacts with real-time, geographically oriented, and indexed content in the physical world."

Our virtual existence will augment our physical presence in the metaverse. Instead of physically attending conferences, you might participate in the metaverse's virtual environment. You might be right there seeing history as if you were a participant in real-time, rather than learning it from a book.

Decentralization vs. Centralization

As companies compete for leadership in the metaverse, the decentralized vs. centralized debate is heating up. Several decentralized initiatives suggest that large tech companies such as Meta will pose a danger to the open/decentralized metaverse. Users have a vote on how platforms are administered. While giant tech corporations' growing interest has fueled the metaverse buzz, several decentralized metaverses such as Decentraland, Sandbox, Wilder World, Starlink, and others have been working on various metaverse projects for some time.

Closed/centralized metaverses are vulnerable to some intrinsic limits of the web 2.0 style, according to research by blockchain analytics startup IntoTheBlock. Furthermore, as with a platform based on a decentralized blockchain like Ethereum, they are predicted to result in an opaque and less secure network where the wealth produced does not accrue to its users.

On the other hand, experts believe that in the future, numerous metaverse platforms will merge to produce a converged environment known as "the genuine metaverse." Before continuing, if you are interested in getting the AAVE coin, the coin behind the most popular DEX AAVE, you can do so on CEX.IO

Top Metaverses with Boom Potential in 2022

Decentraland

Decentraland is a metaverse similar to The Sims or Second Life built on Ethereum. The MANA token is related to Decentraland and is used to make purchases.

Users may buy NFT plots called LAND, which are 3333 virtual feet, according to Decentraland. Multiple conjoining LAND-owners with comparable interests can create a district, and merging plots of Land will form an estate. Owners of Land can also rent out their property for special events like concerts. The most expensive LAND estate to date has sold for $2.3 million.

Decentraland, with a market worth of $5.6 billion, will be at the forefront of metaverse talks in 2022.

The Sandbox

The Sandbox is a decentralized metaverse based on Ethereum that allows users to acquire Land in the form of nonfungible tokens (NFTs) that they may personalize and monetize. Estates and even districts can be formed by purchasing multiple Lands.

Among others, Atari and Bored Ape Yacht Club have already begun construction on The Sandbox. Snoop Dogg, an American rapper, recently erected a replica of his residence in The Sandbox and planned to do stage live performances there.

SAND is the token linked with The Sandbox. With a market capitalization of $4.5 billion and the introduction of their limited-time, play-to-earn alpha on November 29th, this metaverse is one to watch in 2022.

Wilder World

The Sandbox and Decentraland are older metaverses than Wilder World. Wilder World is a photorealistic metaverse built on Ethereum, Unreal Engine 5, and its sister firm, ZERO.tech. Wilder World's crew consists of seasoned 5D artists, including creator Frank Wilder and Chad Knight, who formerly worked for Nike, and assist in creating stunning in-game images for the metaverse.

Wiami, a 1:1 duplicate of Miami, is the first city developed in the Wilder World metaverse. Like Miami in real life, it is expected to become the metaverse's crypto center, according to Wilder World. The token WILD powers Wilder World, and it may be used to buy NFTs like wilder.kicks, wilder.wheels, and wilder.cribs. The NFTs' worth isn't limited to their appearance. Owners of NFTs can utilize their things in-game or stake them for extra prizes.

Baron Davis, Anthony "Pomp" Pompliano, and VaynerNFT are just a few of the prominent names that have already established themselves in #Wiami.

Wilder World, according to Wilder, has a market valuation that is a fraction of that of The Sandbox and Decentraland, making it an attractive investment option for investors.

Axie Infinity, Enjin, and Meta are three more prominent metaverses to watch since they all provide interesting prospective metaverse predictions.

The Future is Bright for Metaverses

CEO of DMarket, Vlad Panchenko stated in a Forbes article that the future metaverse will feature the following:

• Ubiquitous networking

• Blockchain with NFTs

• Extended Reality (XR) with VR and AR

• Other newer technologies

Pachenko said, "With many cross-chain possibilities, the metaverse will expand into the omniverse." Intel, a semiconductor chip manufacturer, estimates that the metaverse will require 1,000 times the current processing power.

The metaverse discourse will get stronger in 2022, even though it is still in its early stages, as enterprises embrace an unavoidably digital future. While 2022 may not be the year when the metaverse explodes, it is expected to be a good starting point. "Whether it takes three years or ten, there is immense momentum behind the metaverse, with virtually endless financing," Grossman said in his piece.