The host of crypto channel Coin Bureau says that he’s identified the top five most undervalued virtual land-based metaverse projects on the market.
In a new video, pseudonymous analyst Guy tells his 1.7 million YouTube subscribers that Axie Infinity (AXS), a blockchain-based play-to-earn game where users can collect virtual real estate and creature-like non-fungible tokens (NFTs), is first on his list due to its historical value.
“Now when it comes to Axie Infinity’s land ecosystem, it admittedly doesn’t possess the aesthetic appeal of many of the newer metaverse projects out there right now.
But it must hold a top-five position in my eyes simply because of its historical value as arguably one of the earliest expressions of in-game real estate.”
AXS is exchanging hands at $99.81 as of writing.
Next, Guy brings up Decentraland (MANA), an Ethereum-based decentralized virtual reality world that has over 90,000 plots of digital real estate and lets users host events such as concerts and parties on their land. According to Guy, the world’s lands are currently sold out.
“Decentraland was initially created with more than 90,000 units which were all purchased during the initial Decentraland auction.
While this number is currently capped, it could very well be increased by the DAO [decentralized autonomous organization] through community voting in the future.”
MANA is currently trading for $3.24.
Guy then moves on to The Sandbox (SAND), a customizable virtual world where players can build, own and monetize their digital real estate assets.
“Users can use land to build digital experiences such as games or 3D dioramas or even populate them with asset tokens to customize and enrich their metaverse real estate properties.”
SAND is exchanging hands at $5.08 as of writing.
Lastly, Guy brings up Bit.Country (NUUM) and Aavegotchi (GHST), two lesser-known metaverse projects centered around virtual plots of land.
Bit.Country is an application framework and substrate-powered blockchain for user-generated metaverses and games. According to Guy, Bit.Country recently won a parachain slot in the Kusama ecosystem, locking in over $100 million.
Aaevegotchi is a crypto collectibles game built on Ethereum where participants can buy and grow playable NFT avatar characters used to explore the world. According to Guy, its advanced technology sets it apart.
“When it comes to the [Aaevegotchi universe], I find its land structure to be rather appealing as it incorporates one of the most cutting edge iterations of NFT technology, such as DeFi [decentralized finance] NFT or even better, NFT-Fi [non-fungible token finance].”
GHST is trading for $2.41 at time of writing.
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Featured Image: Shutterstock/vectorpouch/Natalia Siiatovskaia