With metaverse applications being the next big trend in crypto, there are still a lot of underrated and undervalued projects on the market. Today we will be taking a look at 5 awesome metaverse projects that have under $100 million market cap. The list below is organized from highest to lowest valuations.
Disclosure: This is not trading or investment advice, always do your own research before purchasing any cryptocurrency.
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#5 BOSAGORA (BOA) – $77 million
BOSAGORA is a platform for a decentralized, self-evolving cryptocurrency that’s build on Trust Contracts. In recent news, they’ve teamed up with metaverse developers and blockchain firms such as AIITONE, Uracle, and the Blockchain Research Instinute, to start the development of MetaCity.
BOSAGORA’s blockchain is one of the most suitable for the Metaverse environment because of its flash layer, enabling lightning speed transactions.
MetaCity is still in development, hence the sub $100 million valuation for BOA. However, this is a project that’s worth keeping an eye on for 2022. If the team can successfully launch MetaCity, we can be sure BOA price will rise dramatically.
#4 Xaya (CHI) – $29 million
Xaya is a blockchain-gaming SDK that provides developers with the tools they need to create truly decentralized metaverse games on the blockchain.
Currently, most blockchain games have some decentralized parts, but most are still hosted on centralized servers. Xaya aims to phase out that trend with fully decentralized games running on a distributed network of nodes.
Xaya currently has a few games that are in beta and are available to play, but the user experience still has some ways to go. Overall a solid project with a great idea, when more games come out on the platform, in my opinion Xaya’s valuation will surpass $100 million.
#3 PolkaWar (PWAR) – $17 million
Another highly undervalued project is PolkaWar, a DeFi-enabled NFT gaming platform that allows users to build characters and participate in battles against other players.
PolkaWar has a fully functional dApp that can be linked to your MetaMask browser. Users can start building their characters, participating in battles, and start winning prizes.
With a market cap of only $14 million and a fully functional app, this project is extremely undervalued. If the team focuses on the metaverse part of the game, and continues to add features to PolkaWar, there’s no doubt that the valuation double or triple in 2022.
#2 TOWER (TOWER) – $15 million
The TOWER platform consists of Free-to-Play and Play-to-Earn games in the Crazy Kings franchise. It’s a collection of blockchain-based games with TOWER being the ERC-20 utility token for the ecosystem.
TOWER includes existing mobile games like Crazy Kings and Crazy Defense Heroes, which are successful apps with over 2 million downloads.
The team is working on an upcoming blockchain-based PC game, which will use the Crazy Kings NFTs, and allow players to earn TOWER by playing the games.
At this point, the blockchain-based game is still in development, hence the relatively low valuation. However, users can still earn TOWER tokens by playing Crazy Kings and Crazy Defense Heroes.
Simply link your MetaMask wallet and your CDH user ID, and you will be able to earn TOWER tokens simply for playing the games on your phone.
TOWER’s team has shown that it’s capable of developing high quality games, once the blockchain-based PC game is released TOWER’s valuation will skyrocket. Definitely a quality project to keep an eye on for 2022.
#1 Ethverse (ETHV) – $1.5 million
As the name suggests, Ethverse is a metaverse project that aims to develop a virtual world that’s owned by its users and built on top of Minecraft.
Due to recent license issues stemming from using the Minecraft development platform, Ethverse decided to integrate with Merkle Network.
The Merkle Network is a Web3.0 interoperability protocol that allows cross chain transfer of assets. This technology is extremely useful for launching metaverse applications such as the one Ethverse is working on.
Ethverse has such a low valuation as they only recently integrated with the Merkle Network, and had to change the direction of their project after encountering licensing issues.
With a solid team and a great idea, as long as the team can deliver, 2022 should be a good year for Ethverse / Merkle Network.
Conclusion
Most of the metaverse projects listed above have a relatively low valuation compared to the liked of Decentraland or Axie Infinity, which reap market caps in the billions.
With Metaverse applications being such a new trend, it will take some time for these apps to be developed and mature. It seems like 2022 will be the year of the Metaverse, and any project working on virtual / augmented reality platforms will peak the market’s interest.
This is not trading or investment advice. Always do your own research before buying any cryptocurrency.
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