Metaverse projects on blockchain networks are powered by fungible tokens, which are divisible and can be exchanged for one another. These tokens are used to purchase digital assets such as virtual land or avatar outfits. They can also be exchanged for other cryptocurrencies or fiat currencies.
The Sandbox: The Sandbox is a decentralized NFT gaming metaverse based on Ethereum that allows users to create, sell, use, and monetize their own virtual reality NFTs. The Sandbox’s cryptocurrency, called Sand tokens, Used to make transactions easier such as purchasing LAND, interacting with user-generated content, and staking it to participate in the (DAO) governance of the decentralized autonomous organization.
Decentraland: is a decentralized 3D virtual world software built on the Ethereum blockchain in which virtual plots of land can be purchased and sold using their native token called Mana.
Metahero $HERO: is a recently launched project on Binance Smart Chain (BSC) introduces 3D scanning and modeling technology that creates ultra-realistic 3D avatars and virtual items for use in games, VR, social media, and online fashion.
The technology also enables the creation of NFTs from real-world artworks and collectibles.
Somnium Space (CUBE): is also a Virtual Reality world on the Ethereum blockchain, where users can buy land, build or import NFTs, trade and monetize environments — while exploring other participants’ creations.
Star Atlas (ATLAS): is a strategy video game built on the Solana blockchain using Real-time graphics technology, such as Unreal Engine 5’s Nanite, enables cinematic video game visuals and decentralized financial technologies.