2022 is finally over. While the market is still downtrend, the metaverse looks set to survive and become much larger than it is today. According to Grand View Research, the metaverse could grow annually by 39.4% through 2030. If so, the market size value will increase from $47 billion today to $678 billion in seven years.
How can we take advantage of this? By looking at the most prominent projects launching this year and a couple of growing trends. Sit tight, and let's see what the future awaits!
One of the most promising projects comes directly from Yuga Labs: The Otherside metaverse.
In March 2022, the creators of Bored Ape Yacht Club announced that the BAYC universe would expand like never before. They introduced the Otherside, their web3 metaverse.
Otherside is a gamified and interoperable metaverse. It is a universe similar to an MMORPG game developed on the blockchain. Players can buy lands, and their NFTs become playable characters. All NFTs associated with Yuga Labs will be part of Otherside.
The second installment of Otherside, called "Otherside Second Trip" will launch at the end of March this year. The gamified experience will be available only to owners of Otherdeeds, the Otherside plots.
The Otherside Second Trip will have updated mechanics and new environments to explore. Yuga Labs expects more users to interact in this new stage.
The Sandbox Game
Sandbox (SAND) is a unique case.
While they have been on the market since 2018, one development may take Sandbox to new heights.
Let's take a look back in time. In late 2021, The Sandbox launched Sandbox Alpha after four years of development. This metaverse developed by Animoca Brands had an immediate impact, propelling SAND, its native token, to new all-time highs.
After that, 2022 erased all price gains, but Sandbox continued accumulating partnerships and behind-the-scenes development.
Can a new development do something similar for The Sandbox? You bet your money it can.
On January 5, 2023, Sandbox shared the first glimpses of its new Game Maker version. With Sandbox Game Maker 0.8, users and developers will enjoy an improved Sandbox. There will be a new multiplayer game mode, lighting, and visual effects features. In addition, video and audio streaming systems will be enhanced, opening the door to new virtual events. Finally, they will also include more customization for all users.
Helix is one of the most anticipated projects in the metaverse due to its mechanics and community.
Helix is an acronym: H.E.L.I.X. stands for Hyper Expansive Lifelike Interoperable eXperience. It is a high-fidelity metaverse platform built with Unreal Engine 5.
The Helix universe takes place in Parallel City, a highly detailed recreation of New York City. Within the game, users can buy and trade items with other players. Several game modes allow players to explore the metaverse in new ways.
Helix has a clear mission: to make web3 gaming fun and immersive. To that end, they are developing the game with the blockchain as a kind of silent backbone. If the game's good, adoption will follow.
The project developed by Hypersonic Laboratories has already raised $3.5M in funding and is still in development. The community is still relatively small, with less than 80K Twitter followers and less than 40K Discord users. So this is a unique project, with an elite team and backing from big companies.
The project is set to launch in 2023, but a specific date has yet to be announced. If you want a sneak peek before the rest of the world, you can buy a Founder Pass. With it, you can access the plot sale and beta version three months before the launch.
Trends to look at in the metaverse for 2023
But not everything has to be around projects. There are some trends and events that also positively affect the market.
The very first company we should look at is Meta. While Meta is not a fan favorite, they are going all-in into the metaverse and augmented reality. The American company is set to release a new consumer-grade VR headset this year.
But Meta is not the only company jumping into the metaverse — many more are doing it too. In fact, many companies are looking at the metaverse as a new advertising method for their growth.
Nike might be the best example of it. NIKELAND is a life-size replica of the Nike headquarters. Players can explore, customize their avatars, and play various sports in the metaverse. In late 2022, Nike also launched Cryptokicks iRL, a collection of collectible shoes in real life and on the blockchain.
We can expect more companies to use the metaverse for advertising and creating communities for their superfans.
Finally, graphical enhancement to the metaverse is a perennial trend to watch. Companies are increasingly trying to give a more immersive experience, and this seems paramount to that.
In the next few years, the metaverse will likely infiltrate all sectors somehow. We don't have to look very far, in fact. Every day we get more and more examples of it. Do you want to take advantage of this growth that seems unstoppable? Look closely, and DYOR — trends are waiting for you.