The metaverse is a diverse platform that aims to change how people interact in the digital universe. Instead of using just text and video, folks can do things in a more immersive way. Metaverse is expected to be the next big thing in the digital industry. Indeed, Nvidia has launched its omniverse tools that will enable people to build tools for the virtual universe.
Today, most metaverse projects like Decentraland are built using Ethereum’s technology. However, many developers are opting for another layer one blockchain project like Solana, Avalanche, and Binance Smart Chain (BSC) to build their metaverse projects. In this article, we will look at some of the top metaverse apps built using the BSC network.
What is the Binance Smart Chain?
The BSC is a blockchain project that was launched in 2020 by Binance, the biggest blockchain company in the world. The platform, which uses a proof-of-stake technology, enables developers to build all types of decentralized applications, such as those in DeFi and NFT industries.
Today, BSC is one of the leading alternatives to Ethereum. For example, in the DeFi industry, data by DeFi Llama shows that there are over 313 apps built using BSC. They have a total value locked (TVL) of over $12 billion.
Developers love BSC for two reasons. First, it is backed by the biggest cryptocurrency company that is valued at about $300 billion. Second, the network has better features than Ethereum. For example, while Ethereum handles less than 30 transactions per second (TPS), BSC handles about double that. Still, the biggest challenge it faces is that other contenders like Kadena and NEAR handle thousands of transactions per second.
MOBOX is a decentralized gaming platform built using the Binance Smart Chain platform. It is a play-to-earn ecosystem where people compete and earn rewards.
The idea of MOBOX is similar to that of other gaming platforms in that it wants to decentralize an industry that is controlled by large companies like Microsoft and Activision Blizzard.
In addition to playing games, MOBOX is a leading player in the non-fungible tokens (NFT) industry. There are over 3 million users in its ecosystem who have minted about 1.25 million tokens. The most expensive one ever sold in its network was worth over $1.5 million. In total, there are about 150k players in the so-called momoverse.
MOBOX has a cryptocurrency known as MBOX that helps to power the ecosystem. It is the currency that game players are rewarded within that ecosystem. Also, NFTs minted in the platform are traded using the coin. According to CoinGecko, the maximum number of MBOX tokens is capped at 1 billion, while the capitalization is currently at $313 million, making it the 185th biggest coin in the world.
My Neighbor Alice
My Neighbor Alice (MNA) is a small but fast-growing Binance Smart Chain metaverse platform that has a close resemblance to Decentraland.
With MNA, people can buy plots in an imaginary virtual world and then see their value grow. In addition to virtual islands, people can buy avatars and other in-game products. To achieve this, they use the ALICE token, which is the native coin for the ecosystem.
At the time of writing, My Neighbor Alice is still in its development phase, and the developers have committed to launch the mainnet app later in 2022. At its peak, ALICE was one of the top 100 biggest cryptocurrencies in the world. Its price has dropped, and its ranking has fallen to about 361. It has a total market capitalization of over $131 million.
In addition to island purchases, there are other roles that ALICE plays in the ecosystem. For example, it is the primary token for the purchases of non-fungible tokens (NFTs) in the ecosystem. Game players also use it to buy in-game tools.
Decentral Games is another metaverse project built in the Binance Smart Chain platform. It is an online ecosystem that allows people to play games and earn money on the platform. According to its website, it has about 182k players from around the world and 111k wallet holders. Some of its backers are Polygon, Digital Currency Group, Decentraland, and Cluster.
Decentral Games differs from other popular decentralized gaming platforms in that it mostly focuses on the poker industry. Players in the ecosystem make money by finishing daily tasks and competing against one another on the leaderboard.
Decentral Games has two cryptocurrencies that power its ecosystem. ICE is the currency with which players are compensated. ICE has a total market value of about $8.5 million. DG, on the other hand, is the governance token for the ecosystem. Members of the platform use it to make changes in the platform. It has a market cap of $141 million.
Alien Worlds is a small but fast-growing gaming and NFT metaverse project built using Binance’s technology. Users in the network can play with NFTs, stake Trilium, and participate in weekly governance votes.
Alien Worlds differs from other projects in that it has a cross-chain bridge feature that enables it to be playable in other ecosystems like Ethereum and WAX. The most popular NFTs in the ecosystem are land, game tools, minions, weapons, avatars, and missions.
The metaverse is an industry that is growing fast, as evidenced by the number of users. But it is still too early to determine whether the industry will keep growing in the future, especially as interest rates start rising. More so, it is a bit difficult to predict whether more developers will keep choosing the Binance Smart Chain platform as other faster platforms like Kadena and Solana gain market share.