Metaverse is not a new concept today and it is revolutionizing the entire business world in a manner like none other, irrespective of the sector, domain or industry. According to a recent report by McKinsey, one of the leading management consulting firms, the metaverse market could reach a value of $5 trillion by the end of the year 2030. As per the market research, metaverse platforms are going to enter every sector and domain as the core pillar, transforming every business function and operation.
Today companies have to leverage the power of the metaverse to beat the competition and become a market leader. There are different metaverse platforms available out there in the market that are not only transforming business but also becoming mainstream. Each one of the metaverse platforms holds unique characteristics and potential benefits that are unignorable and hard to find. Leverage the metaverse technology to enjoy the benefits of blockchain technology and virtual platforms that are enabling entrepreneurs to create a visually realistic and life-like environment for users across the globe.
If you are planning to shift your business to the metaverse, here is a list of top metaverse platforms that you must know to become the most innovative and upgraded version in your respective industry.
What Are Metaverse Platforms?
The metaverse definition has changed multiple times since its launch. Currently, it is termed as a virtual world, basically, a 3D space where users can create, move and interact with each other without having any visits in person. In simple words, it is a digital space where users can interact with each other from the comfort of their couches. Many gaming business owners leverage the metaverse technology today to provide players with real-life gameplay experiences.
Metaverse platforms tend to be hosted on blockchain networks, and powered by cryptocurrencies and NFTs to provide traders with a seamless exchange of digital assets. These platforms allow investors to create their own marketplaces where users can create their digital representations known as NFTs and then later sell them to others. Metaverse platforms like Decentraland, Roblox, Metahero, StarAtlas, etc allow users to customize their digital avatars and build digital worlds while organizing live concerts, music events, corporate meetings etc.
Benefits of Metaverse Platforms
Metaverse is thriving at an alarming rate. Today, every business irrespective of industry, or domain is harnessing the power of the metaverse to stand out from the crowd. If you are planning to invest in the metaverse then you must not think twice as it is highly lucrative to build your own metaverse marketplace. Here are the most significant benefits of metaverse platforms that must take care of:
Integration of Cryptocurrencies
Unlike other platforms, metaverse platforms support or incorporate crypto tokens to facilitate digital asset exchanges, purchases and rewards distributions.
Virtual Real Estate Investment
A wide range of metaverse platforms allows users to trade real estate properties within the virtual or 3D world using digital currency. These lands are structured as NFTs, which provide the full ownership of a digital asset.
The metaverse platforms allow users to express themselves to the fullest while customizing their digital avatars, and other digital creations. Decentraland and The Sandbox allow users to design and create in-game structures that can be sold on the marketplace as NFTs.
The metaverse has changed the concept of socialization and made it enhanced, and ultra-modern. Using metaverse platforms, users can create digital avatars and interact with each other within the ecosystem.
Many metaverse platforms include play-to-earn games which provide users with a chance to play and compete in virtual games to win exciting and real rewards in the form of digital currency.
Top Metaverse Platforms in 2023
Metaverse platforms are booming at an alarming rate and there is a wide range of metaverse platforms out there in the market. Here is the list of top metaverse platforms in 2023 that you must know:
The Sandbox became quite famous in the gaming industry. When it comes to metaverse gaming platform development, the Sandbox is mostly preferred and optimized by most gaming entrepreneurs or investors. The platform allows users to build, own, and monetize gaming content in the most efficient and cost-effective way.
The platform uses the Ethereum blockchain network to monetize gaming content. The platform offers users a very unique feature called VoxEdit, a free voxel modelling program, using which they can create characters and elements like animals, buildings, weapons, etc., that can be further sold out as NFTs in the Sandbox marketplace.
It is among the famous metaverse gaming platforms which allow users to earn by playing. Just like other metaverse platforms, it runs on the Ethereum blockchain network. Using this platform, users can buy and sell land, assets, characters and other things using NFTs.
This type of metaverse platform is also widely famous as a blockchain-based game where players can participate and play by purchasing or battling monsters called Axies against each other.
Being one of the most thriving and popular metaverse platforms, battle infinity is also known as a play-to-earn fantasy sports gaming platform, which allows users to participate, play and compete against each other. Hosted on the Binance smart chain, it is a 3D platform which allows users to create their own digital avatars, assets and unique representations.
It provides users with exceptional and unique features such as IBAT premier league, battle score, battle swap, battle market and battle stake. These features make this metaverse platform highly competitive, differentiated and top-rated in the metaverse world.
Decentraland is another metaverse platform based on the Ethereum blockchain network concept. It is a web-based 3D virtual world, which utilises the ERC-20 token, a native cryptocurrency. The platform has two more additional tokens, including the LAND Token, and the ERC-721 token. Moreover, users can purchase the digital asset or property using MANA Token, which is another decentral’s native token. Users can own the platform as the framework of decentraland is structured as a decentralized autonomous organization.
The decentraland is highly famous among sports enthusiasts and business owners when it comes to metaverse casino gaming platform development, as the framework offers high-quality and safety standards.
If you are fascinated by the metaverse gaming platform development, Sorare is among the first NFT-based fantasy football games which allow players to play card games and trade using NFT tokens.
Upon winning the virtual gaming tournaments, players can get virtual rewards in the form of cryptocurrency that can be further traded in the upcoming in-game battles and challenges.
Another metaverse platform that is famous in the market, Roblox enables children and adults to socialize and create in an interactive 3D virtual world. The platform was originally launched as a website in the year 2006, which now can be accessible as a metaverse platform on various devices.
The platform enables users to create their digital avatars to interact, move and engage in the virtual space. Through the Roblox metaverse platform, you can revolutionize your e-commerce platforms, social media channels and even the gameplay experience of the players.
Bloktopia is the all-inclusive 3D metaverse platform, which combines the power of blockchain, augmented reality and virtual reality under one digital roof. It makes this platform a perfect web3 destination for investors, gamers and developers.
Users who use the bloktopia metaverse platform are also known as bloktopians. They use BLOK tokens to trade digital property within the metaverse ecosystem.
Metahero is another renowned and famous metaverse platform, which combines the power of both ultra-realistic 3D technology and actual utility tokens for creating life-like objects and characters in the metaverse. The platform runs on Binance Smart Chain which has become famous since its launch in the year 2020.
The 3D objects that you create in the meta hero platform can be traded within the ecosystem or marketplace for HERO tokens, which streamlines the economy of the metahero metaverse platform.
It is a metaverse-backed online multimedia platform which allows users to create digital avatars and build digital creations of their own. It gives them a second life in the virtual world, which can be further utilized to explore new worlds, experience adventures, and meet new people.
The best part of this type of metaverse platform is that it allows users to freely enjoy and build their own territories and customized avatars within the framework. There is no predefined set of limits or rules you have to follow in the second life as you can go on adventures, meet new friends, and enjoy different activities like playing games, chatting with other users or even going on virtual dates.
Illuvium is a play-to-earn metaverse platform that uses Unreal Engine 4 technology to operate and run. The platform is highly famous among gamers worldwide as an auto-fighter, role-playing game where players can play and earn tokens as rewards. Users can create their unique digital avatars to play and interact within the ecosystem.
These avatars are also known as Illuvials. In Illuvium, players can earn two kinds of tokens, including SILV and ILV tokens, which they can further use to battle and challenge others in the battles.
It is a unique and exceptional metaverse ecosystem which allows people to access the virtual world and interact with each other. This type of platform allows users to explore, play and work in a safe environment. The benefit of using this platform is that it protects and safeguards user data and information in an efficient manner.
Star Atlas is a next-generation gaming metaverse which is also known as a massively multiplayer role-playing game. It is designed and built using the latest technologies like Unreal Engine 5 and supports complex features and functions of the game. It is a perfect blend of realistic visuals, blockchain technology, multi-player video games, and decentralised financial technologies.
It was first founded by Automata and is built on the foundation of the Solana blockchain network. Using Star Atlas, players can play, participate and challenge each other in the battles while claiming their territories and building their own communities. Using the platform, users can buy various digital assets like land, ships, equipment and elements within the marketplace.
Upland is a type of play-to-earn game and another online real estate marketplace, which operates on an EOS blockchain network. It is launched at the beginning of the year 2020. The platform allows players to participate in treasure hunts, and interact and socialize with other digital avatars within the ecosystem. Being one of the most popular metaverse platforms, Upland is thriving in the most important blockchain-based economies. The game allows users to buy digital assets like real-estate representations and land using NFT.
The USP of upland is that it aims to define the virtual boundaries of real-life addresses in the metaverse. It is like a free and open metaverse marketplace where users can freely trade digital properties and assets in an efficient manner.
Hyperfy is one of the widely used metaverse platforms which is built on the foundation of the Ethereum blockchain network. It is like a virtual world-building platform which provides users with tools and elements to freely design and create their own worlds in the open marketplace.
It has a community of global artists and creators who have created their own virtual representations within the ecosystem. They allow users to explore their creations and representations in the most flawless manner.
Metaverse technology is in its initial phase, but with the advent of technology and the popularity of metaverse platforms, the future seems very bright and lucrative. Metaverse has a great role and opportunities for investors, irrespective of the sector, domain or industry. By now, you must have understood the seriousness and opportunities of developing a metaverse marketplace. If you are looking for metaverse casino gaming platform development, hire an experienced and top-notch game development company that can offer you customized and next-gen metaverse platforms.
Kishan Singh Rathore
Kishan Singh Rathore is a SEO Analyst. He likes to share opinions on the IT industry via blogs, articles, or microblogs. He is passionate about writing on the latest and most advanced trending IT technologies which include custom web, Mobile Game development, Mobile app development, Digital Marketing and trending solutions.