The metaverse is taking shape, NFTs command headlines, and blockchain games drive more users to decentralized applications than ever. Yet, at the same time, heroes of the crypto industry become vilified after losing billions of dollars of users’ funds while inadvertently pushing people to on-chain DeFi.
The crypto verse is never dull. However, predicting the industry’s next move can be a complicated business. Marketers and brands pour millions into the metaverse while changing consumer lifestyles force a change in digital payment habits.
Emerging technologies like digital currencies and the metaverse promise a wave of change demanded by the current conditions. However, catching the next big thing is more about taking a more expansive view and imagining how all the aspects of a nascent blockchain ecosystem can work together to bring mass adoption.
In 2020 DeFi flourished but failed to deliver on mainstream useability. Then, in 2021 NFTs and play-to-earn gaming took the world by storm. Finally, Facebook rebranded to Meta, and things went wild.
Among the clear trends lay offshoots of innovation where NFTs, gaming, and DeFi combined to bring Web3 users new and exciting applications. After all, blockchains are but mere ledgers without smart contracts and decentralized applications to attract users.
Despite the ruin of FTX and several associates, NFT-infused Web3 games continue to attract more users than ever to the blockchain industry. A blend of speculation and gamification drives users in, while DeFi mechanisms keep them returning.
Moreover, blockchain applications give Web3 advocates and new entrants a way to interact with the blockchain and find everyday use. Speculation and investment are only a tiny part of an industry projected to reach an estimated 68 billion dollars in revenue by 2026.
One’s to watch
There are thousands of decentralized applications promising the world. Here are some projects that blend the best of what the blockchain offers into decentralized applications available on mobile and desktop.
Derby Stars
Derby Stars is a horse racing metaverse game created by a team of seasoned mobile game designers where players breed, mature, build and trade digital horses. Taking on the role of a digital jockey, players also need to train horses over time, improving their stats, talents, and skills.
Racing to win is the aim of the game, and Derby Stars utilizes a dual-token economic model where players get rewards in RUN, a governance token for participating in a Race Tournament, and CRT, a utility token for taking part in training programs. Notably, the game exists on the Polygon network, which means players benefit from fast transaction times and low fees.
With big plans for 2023 and an initial user experience designed around onboarding and accessibility, the game’s launch will feature a breeding system, PvP racing, and training as the main content.
Pegaxy
Along similar lines, Pegaxy offers a comparable experience to Derby Stars. Pegaxy is a horse racing game where players compete against 14 other racers as they all attempt to finish in the top three. Only those who finish first, second, or third win rewards, while all the other entrants win nothing.
Each race includes an added element of wind, water, fire, or speed added as a random variable to each match. They affect a horse’s performance, with different horses having different abilities and powers.
To get involved with Pegaxy, players first need a Pega NFT horse which can either be bought or rented from the in-game marketplace. Once you have a Pega, you can enter races by paying a gas fee in MATIC to enter a race lobby.
Looking Glass
Leaving digital horses behind, we can peek at Looking Glass Labs, another promising Web3 platform focused on NFTs and immersive metaverse environments with its HOK utility token that functions as the medium of exchange.
The portfolio includes the play-to-earn digital collectible card game Overlords. While its House of Kibaa metaverse environment and digital distribution service provide people and brands with a 3D world to create, play, share, learn, and thrive. It has plans to launch a hyper-realistic metaverse built using the world’s most advanced real-time 3D tool for visuals and immersive experiences, the Unreal Engine.
The social metaverse proposed by Looking Glass will be the first ultra-realistic land and is blockchain agnostic, with users also bringing in 3D models of their other PFP NFTs. Alongside this endeavor, GenZeroes, is a unique live-action series featuring real actors and artists merging Web2 with Web3 technology.
Vulcan Verse
VulcanVerse is an open-world multiplayer online role-playing game with lore written by some of the finest fighting fantasy authors. In the VulcanVerse, players can own assets as NFTs, create quests and adventures, and battle against other Vulcanites.
The game pivots around players’ ability to buy virtual land and use in-game resources to make it more valuable. Two tokens are needed: PYR and LAVA, which are rewarded to the players most active in the Vulcan Forged ecosystem. In addition, upgraded Vulcanites and land NFTs can bring owners more rewards.
VulcanVerse is the leading game but just one of a variety of games available in the Vulcan Forged ecosystem, including Vulcan Verse and Vulcan Runner. Agora is another expansion that offers users a gas-free, simple-to-use NFT art platform. With skin already in the game and a growing portfolio of token-infused games, Vulcan Forged is among the projects to watch in 2023.
Disclaimer: Any information written in this press release or sponsored post does not constitute investment advice. Thecoinrepublic.com does not, and will not endorse any information on any company or individual on this page. Readers are encouraged to make their own research and make any actions based on their own findings and not from any content written in this press release or sponsored post. Thecoinrepublic.com is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release or sponsored post.
For publishing articles on our website get in touch with us over email or one of the accounts mentioned below.
Source: https://www.thecoinrepublic.com/2022/12/16/web3-projects-to-watch-in-2023/