There’s no escaping the internet’s favorite buzzword” the “Metaverse,” whether it’s Mark Zuckerberg’s virtual replica as he unveiled Facebook (rebranded as Meta), live concerts in the immersive Fortnite universe, or a digital art gallery in Decentraland.
Let’s have a look at what the Metaverse is.
What Is The Metaverse?
The Metaverse is a vision of how the internet of the future will work. A Metaverse is a better digital environment in which users can smoothly switch between work, fun, shopping, socializing, and creativity in one digital landscape.
Others see the Metaverse as more of a merging of the physical and digital environments, with the actual world being covered with digital surfaces and objects. At the moment, the Metaverse is mostly an enterprise. Big corporations are rapidly developing their building blocks. Firms like Facebook, Apple, Google, and Microsoft compete directly, using their massive technology resources to build their Metaverse services.
The Metaverse has the potential to dramatically transform how humans interact with technology, with each other, and with their surroundings. It also raises concerns about the influence on national and individual identities in a society where people spend more time in a parallel universe.
Who Owns Metaverse?
There are no ‘owners’ because there is currently no fully developed Metaverse. Major technological corporations, on the other hand, are positioning themselves to act as Metaverse portals (or gateways). Each aspiring to be the best.
After purchasing virtual reality firm, Oculus Vision Tech in 2014, Meta had already invested $10 billion in its Metaverse operations. In preparation for the Metaverse and other large corporations such as Walmart and Nike, they are actively registering a trademark and copyright protection on virtual versions of their products. Users of the Metaverse would be engaged in worlds completely shaped by big tech and other major corporations, interacting on their terms.
Authoritarian governments can employ Metaverses to control users differently, selecting what they can say, see, and access. There’s also the risk of severe wealth concentration, as technology industry digital gatekeepers use their insider knowledge to gain an unfair ‘first mover’ advantage in the Metaverse economy. If the process of developing the Metaverse is delegated to commercial interests, profit and consumer experience can take priority over actions that benefit the society more widely.
Top Metaverses
There are a lot of existing Metaverses. Below we are going to show you the top most popular Metaverses.
- HyperVerse
- Decentraland
- The Sandbox
- Nakamoto
- Roblox
- Bloktopia
- Metahero
- Star Atlas
- Cryptovoxels
- Epic Games
Out of these ten Metaverses, in this article, we will focus on two of them: Decentraland and The Sandbox.
What Is Decentraland (MANA)?
Decentraland (MANA), a virtual reality platform, is powered by the Ethereum blockchain. It enables users to produce, consume, and monetize content and applications. It is based on Neal Stephenson’s novel Metaverse idea, Snow Crash. However, this blockchain project is much more than simply virtual reality. But, before we get into the technicalities, let’s first define Decentraland and how it works.
Decentraland is a blockchain-powered virtual reality platform where users can develop, experience, and monetize content and apps. It is one of the earliest attempts to create a decentralized web, a new kind of world. People in Decentraland will own their digital assets, unlike typical online venues like Facebook or Twitter.
You can also explore and chat with individuals from all over the world and immerse yourself in social virtual reality (VR) experiences, just like on any other VR platform. The usage of blockchain technology to support everything from land purchases to platform transactions makes this concept even more innovative. Decentraland’s purpose is to establish an open-source system that allows people to construct whatever they want in this decentralized virtual world. That being virtual stores, online casinos, social media platforms, or anything else.
How Does Decentraland (MANA) Work?
The Decentraland project (MANA) aspires to build a virtual shared place managed by no one but its users. Unlike other social media platforms, you will own your digital content on Decentraland. That implies you can sell or give away your avatar to another user.
Decentraland allows users to construct their virtual reality worlds, sell content, and even earn tokens by hosting other users in their virtual reality world. Decentraland has its own Ethereum Aland blockchain that allows users to do customized transactions. Because Decentraland is designed on a peer-to-peer network with solid cryptography, content ownership is entirely safe and censorship-resistant. No one can edit or censor material inside Decentraland.
Here are some things available in Decentraland:
- A place to meet people
- Buy and sell goods
- Join a virtual reality world where you can vote on how the world is developed
Use Case of Decentraland
The Decentraland team has also created a marketplace. Users can develop settings outside the game area using the drag and drop feature.
Participants can use the market to store and exchange LAND tokens, which are mainly worth in MANA. The marketplace allows owners to purchase, sell, and exchange land plots, also various in-game products such as wearables and unique names.
What Is Sandbox (SAND)?
The Sandbox is a decentralized NFT gameplay Metaverse based on Ethereum, allowing users with no technical knowledge to design, sell, use, and monetize their own virtual reality NFTs.
The crypto metaverse’s native coin SAND serves as the foundation for the whole in-game economy. NFTs are transforming how we collect art, create communities, make money, and play. Many NFT-based projects are growing into full-fledged Metaverses, with The Sandbox at the front. The Sandbox, the creation of Pixowl co-founders Arthur Madrid and Sebastien Borget, differs from previous crypto Metaverse projects. It differs in that its user-generated content ecosystem allows contributing to the Metaverse to be straightforward and intuitive for participants with no technical knowledge.
How Does Sandbox (SAND) Work?
Sandbox operates as a virtual environment that is independent of your computer and network. It is essentially an isolated testing environment.
Software developers use Sandbox to test new scripts and eliminate programming errors. It is also used in information security to test and execute harmful applications. In practice, a Sandbox executes files, attachments, URLs, and applications to determine if they are harmful or not, before being provided to the end-user. This verification often takes a few seconds to a few minutes.
The main benefit is that whatever happens in the Sandbox stays there. Because of this, as well as its high analysis capacity, the Sandbox becomes an effective weapon against zero-day exploits, which are dangerous attacks that security software has yet to detect.
Use Case of Sandbox
Sandbox offers you various methods to make money. VoxEdit is one of them. After you generate money with it, you can trade them for NFTs on the Sandbox Marketplace. These assets include skins, motorcycles, and animals and can cost from 10 SAND to hundreds of SAND.
You can also use the Sandbox Game Maker to create and advertise your own activities or play other people’s games to win rewards. Another way to generate money is by leasing your LAND to other players or filling it with materials to increase its value.
Sandbox VS. Decentraland
The native currency value and market turnover of the two Metaverse projects are insufficient to determine the best choice. Let’s look at the Sandbox VS. Decentraland comparison using the following significant factors.
Way Of Working
The way Decentraland and Sandbox function is one of the most important components when talking about differences. If seen in a larger context, they appear to function similarly. However, when you go further into the way of functioning of both platforms, there is a lot to learn.
Sandbox has 166,464 virtual real estate plots that may be gathered into estates. Estates are owned by a single individual, whereas two or more people own districts. The Sandbox Metaverse has four main tokens: SAND, GAMES, LAND, and ASSETS.
Decentraland has 90,601 digital plots of land. Individual plots or estates with several plots of land are created from all of the virtual real estate parcels. It also features districts with similar-themed parcels and plazas, which are non-tradeable portions owned by the community. The Decentraland Metaverse has three main tokens: MANA, LAND, and WEAR.
Community Support
The MANA VS. SAND comparison would also include the support provided for both systems.
One of Sandbox’s main sponsors is SoftBank, a Japanese multinational business specializing in investment management. Sandbox also has the support of one of the world’s top investment firms and numerous other well-known companies, including Slack and Uber.
Decentralized is backed by many well-known companies, including Digital Currency Group, FBG Capital, and CoinFund. Furthermore, it has formed partnerships with Polygon, the South Korean Government, Cyberpunk, and Samsung.
Scalability
To compare the ability of both Metaverses to scale, we’ll look at three important Metaverse features accepted crypto and wallet, gas fees, and real estate (land plots).
Crypto and Wallets
Sandbox accepts ERC-20 wallets, which could be used to connect to the Metaverse and interact with once online. As a result, Ethereum is a useful cryptocurrency that is required for gas fees.
ERC-20 wallets are likewise accepted on Decentraland. However, users can now link Polygon-based wallets to the Metaverse due to cooperation with Walletconnect.
Gas Fees
Sandbox – due to the Metaverse’s use of the Ethereum blockchain, gas fees are high on Sandbox. This blockchain is known for its high gas fees, although it may eventually transition from a Proof-of-Work (PoW) consensus mechanism to a Proof-of-Stake (PoS) system, dramatically lowering gas fees.
Decentraland – Because the Metaverse runs on the Polygon blockchain, there are no gas fees on Decentraland. The Layer-2 option uses a Proof-of-Stake consensus mechanism and has substantially improved transaction verification efficiency, making transactions less expensive.
Land Plots
Sandbox – The Sandbox Metaverse has a total of 166,464 plots available for single or occasionally duo ownership. Plots can be purchased with SAND, GAMES, LAND, and ASSETs. Because virtual land is available on OpenSea, Sandbox’s real estate is more open than Decentraland’s.
Decentraland – This Metaverse has 90,601 parcels, which are less than Sandbox. Plots can be split hierarchically, meaning numerous real estate plots can be combined to form an estate plot. Then, this plot can be used to develop a plot of land, which can be purchased using MANA, LAND, or WEAR.
Is MANA or SAND a Better Investment?
It is hard to decide which Metaverse is a better investment. Both Metaverses offer advantages and disadvantages that require thorough analysis before making any decision.
Ultimately, it is all based on your investing goals and which best responds to meeting these goals. Let’s look at the pros and cons of Decentraland and Sandbox to help you to decide.
Decentraland (MANA) Advantages
- Its team has a strong background in business and technology, allowing them to succeed in the competitive virtual reality sector.
- Decentraland is based on the Ethereum blockchain, providing security and transparency.
- It has a strong and active community that is enthusiastic about the project and is always coming up with new ideas.
Sandbox (SAND) Advantages
- Sandbox is backed by a well-known venture capital firm, indicating that it is financially secure and capable of long-term success.
- Owns a user-friendly platform allowing anybody to create and share virtual reality experiences easily.
- It is based on the Bitcoin protocol and secures its network with the Proof-of-Work mechanism.
Frequently Asked Questions (FAQs)
Is Decentraland and Sandbox the Same?
Decentraland and Sandbox are two different Metaverses that offer some features that may be the same. However, in aspects of their functionality, tokens, partnerships, and value, they are very different.
Is Sandbox a Metaverse?
Sandbox is the third-largest Ethereum blockchain-based Metaverse. Users can create, share, and monetize assets (real estate) and gaming experiences. In the virtual world, people can own assets, play, develop, and own their properties along with in-game assets.
Should I Invest in SAND or MANA?
Sandbox (SAND) is the better option to invest in if you want a safe and user-friendly platform with a huge community. Decentraland (MANA) is better if you’re seeking a platform with a strong team and cutting-edge technologies. Both coins have the potential to increase in the future. However, it’s up to you and your investment goals into which you want to put your money.
Takeaways
- The Metaverse is simply described as the future of the internet.
- Two of the ten top Metaverses include Decentraland and The Sandbox.
- Decentraland is a VR platform backed by the Ethereum blockchain.
- The native coin of Decentraland is MANA.
- Sandbox is a decentralized NFT gameplay based on Ethereum, and its native token is SAND.
- Sandbox and Decentraland have a few similarities. However, they are very different in a variety of ways.
- MANA is considered to be a better investment for people who want a strong team platform.
- SAND is considered to be a better investment for people who want huge community support.
