2024's Most Worthy VR Cryptocurrency Guide: Investment Opportunities from Decentraland to OVER

Why the AR/VR Crypto Sector Is Worth Paying Attention To

The launch of Apple Vision Pro has ignited market enthusiasm for AR/VR. By early 2024, the total market capitalization of AR and VR-related crypto projects has surpassed $4.22 billion, reflecting market recognition and indicating the industry’s growth potential. According to forecasts, the AR/VR market size could reach $828.8 billion by 2027, with a compound annual growth rate of 29.4%.

Meanwhile, market adoption is also rapidly increasing. Data shows that in 2023, the global VR user base may reach 98 million, while AR users could increase by 23 million. Behind these numbers is the reality of virtual worlds continually approaching the mainstream.

Core Application Scenarios of VR Crypto Projects

Currently, blockchain gaming, virtual real estate, immersive education, and other fields are becoming the main application frontiers for AR/VR. Especially with the rise of NFTs, ownership and trading of virtual assets are now possible. From high-fidelity virtual character scanning to social interactions in virtual worlds, these projects are building a new digital ecosystem.

Notable VR Crypto Projects to Watch

Decentraland (MANA)

Launched in 2020, Decentraland is a browser-based 3D virtual world built on Ethereum. Users can purchase virtual land (NFT format), customize avatars, and participate in events. The MANA token runs throughout the ecosystem: buying LAND, virtual items, and participating in DAO governance. Recently, the project integrated Chainlink oracles and a “Estate” feature (merging multiple land parcels), with plans to further expand virtual experiences and user engagement.

CEEK VR

Launched in 2018, CEEK VR focuses on virtual events. Users can watch 360-degree content, attend concerts, and socialize in virtual spaces. The CEEK token supports the ecosystem: used for ticketing, virtual goods trading, and creator monetization. The recently launched CEEK City is a persistent virtual world integrated with Flow blockchain to enhance scalability.

Highstreet (HIGH)

Launched in 2021, Highstreet combines retail experiences with MMORPG gameplay. Users explore virtual worlds, complete quests, and own virtual shops. HIGH tokens drive transactions and governance. The project’s uniqueness lies in collaborations with real brands, “virtual-physical” NFT designs (unlocking online and offline goods), and a focus on user-generated content.

Victoria VR (VR)

Launched in 2021, Victoria VR aims to create a large-scale, user-owned, photorealistic VR metaverse based on Unreal Engine. The founding team comes from tech and blockchain backgrounds, promoting a Live-2-Earn model rather than traditional Play-to-Earn. VR tokens are used for purchasing virtual land, DAO governance, and accessing exclusive features. The project’s advantages include user ownership, content creation freedom, and partnerships with gaming communities.

NetVRk (NETVR)

Founded in 2021, NetVRk is a blockchain-based social virtual world. Users create, explore, and monetize experiences in a 3D first-person environment. NETVR tokens support virtual land purchases, virtual item trading, and governance participation. The project has over 50 industry professionals, recently launched new world-building tools, integrated with Polygon to optimize transaction costs, and introduced a NETVR holding rewards mechanism.

OVER (OVR)

Launched in 2018, OVR is an AR metaverse on Ethereum and Polygon. Users map interactive digital content onto real-world locations using smartphones. OVR tokens are used to buy OVRLands (NFT hexagons representing real-world locations), trade 3D assets, and earn rewards through mapping and leasing. The project has integrated Apple Vision Pro, launched AR concert experiences, and a crypto treasure hunt game similar to Pokémon GO.

Other Noteworthy Projects

Render Network (RNDR): Launched in 2019, a distributed GPU rendering platform. RNDR tokens are used to pay artists for high-quality 3D rendering services. It is a potential partner for Apple Vision Pro, with strategic planning, though not officially confirmed.

Verasity (VRA): Focuses on video piracy protection and user incentives. VRA tokens reward viewing behavior and optimize ad delivery. Recently, it has partnered with mainstream video platforms and integrated Chainlink oracles.

Cudos (CUDOS): A blockchain-based cloud computing platform incentivizing sharing unused computing resources. CUDOS tokens support participation and staking, with strategic partnerships with AMD, Elrond, and others.

ARPA Network (ARPA): Launched in 2018, a decentralized computing network providing cryptographic services like threshold BLS signatures. ARPA tokens incentivize task completion and network participation.

Somnium Space (CUBE): A VR metaverse allowing virtual land ownership. CUBE tokens support ecosystem transactions, emphasizing user-generated content and artistic expression.

Metahero (HERO): Uses 3D scanning technology to create high-fidelity digital avatars for the metaverse. HERO tokens are used for trading and staking, focusing on expanding scanning technology usability.

Core Logic of Investing in AR/VR Crypto Projects

Why Now Is the Time to Pay Attention

1. Explosive Market Growth
From gaming to healthcare, education, real estate, and retail, AR/VR applications are expanding across industries. This cross-sector penetration ensures long-term growth potential, attracting continuous investment.

2. Immersive Experience and User Stickiness
Pokemon GO surpassed 1 billion downloads before 2019. Today’s VR/AR projects also possess this appeal, forming a foundation for long-term user growth.

3. Blockchain Ensures Asset Security and Liquidity
Blockchain’s transparency and security make virtual asset trading feasible. Users can truly own digital assets, something traditional gaming cannot offer.

4. NFTs Open New Doors for Digital Economy
Platforms like Decentraland demonstrate the profit potential of virtual assets. Creators can produce and trade content, while investors benefit from appreciation.

5. Signals from Major Investors
Magic Leap has raised over $2 billion from Google and Alibaba. Apple’s launch of Vision Pro and other moves send a clear signal: AR/VR is the next decade’s investment focus.

Risks to Consider Before Investing

High Volatility: The crypto market itself is highly volatile, and emerging AR/VR projects are even more so, potentially leading to significant losses.

Immature Technology: AR/VR industry is still in early stages, with rapid technological iteration. Projects may face delays or strategic pivots.

Intensified Competition: Many projects are vying for market share; standing out is challenging.

Regulatory Uncertainty: Laws around cryptocurrencies and AR/VR are evolving, and policy changes could impact project valuations.

Project-Specific Risks: Each project has unique technical, team, and execution risks; thorough research is essential.

Liquidity Issues: Some projects have limited trading volume, making buying and selling less convenient.

Fraud Risks: The crypto space has seen rug pulls and scams; beware of projects with unrealistic promises, unverified smart contracts, or anonymous teams.

Final Thoughts

The integration of AR/VR and blockchain is not a distant future but happening now. From Decentraland’s virtual real estate to OVER’s location mapping, each project demonstrates the potential of this new ecosystem.

Of course, opportunities come with risks. Market growth, technological advances, regulatory improvements, and cross-sector collaborations will propel this ecosystem forward. But investors should make decisions based on thorough understanding of project fundamentals and market risks.

Interested in deepening your research on VR cryptocurrencies? Some exchanges now list over 30 AR/VR-related tokens, covering spot and futures trading, providing diverse options for your investment decisions. Remember, in this imaginative virtual world, rational analysis is always the best compass.