Metaverse Crypto Projects in 2026: How the 2022 Hype Picks Actually Did

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Quick answer: The metaverse crypto boom of 2021–2022 has largely faded. Most metaverse and gaming tokens, including SAND, MANA and AXS, trade more than 90% below their all-time highs, and daily users have fallen sharply. Axie Infinity went from about 2.7 million daily players at its peak to a few thousand. A handful of projects are still building, but treat any metaverse token as a high-risk speculation, not a likely winner.

What is the metaverse?

The metaverse describes shared virtual worlds where people socialize, play, shop and own digital items, often as NFTs, with cryptocurrencies as in-world money. Facebook renamed itself Meta in 2021 to bet on the idea, but even Meta has since shifted much of its focus to AI. Learn the basics in what is Web3.

Where the 2022 metaverse picks stand now

1. Illuvium (ILV)

An open-world fantasy RPG on Ethereum’s Immutable network where players capture creatures called Illuvials. The game officially launched in 2024 after years of development, but ILV, like other gaming tokens, trades far below its peak.

2. Axie Infinity (AXS)

The game that made “play to earn” famous. Daily players fell from millions in 2021 to a few thousand, and its Ronin network suffered a $600+ million hack in 2022. The team still develops new games, but the token is down well over 90% from its high.

3. The Sandbox (SAND)

A virtual world where users buy LAND plots, build experiences and trade items. You don’t need a VR headset, since it runs on a regular computer. It has partnered with many brands and celebrities, but active users remain modest.

4. GameSwap (GSWAP)

A small gaming NFT marketplace token. It now trades with very little liquidity on a few decentralized exchanges, so we no longer consider it a realistic pick.

5. Yield Guild Games (YGG)

A “gaming guild” that originally lent NFTs to players in games like Axie Infinity. It has since pivoted toward publishing and game-community tools as play-to-earn economies shrank.

6. Decentraland (MANA)

One of the original blockchain virtual worlds, where users buy LAND and attend virtual events. Daily active users are typically in the low thousands.

7. Terra Virtua Kolect (TVK), now Virtua (VANRY)

Terra Virtua rebranded as Virtua in 2023 and swapped TVK for the VANRY token, which powers its own blockchain for games and digital collectibles.

8. Epik Prime (EPIK)

A licensing and gaming-asset token that now has a tiny market value and minimal trading volume. We no longer consider it investable for most readers.

9. Highstreet (HIGH)

A metaverse shopping and role-playing game inspired by classic MMOs. It’s still around, but with far less attention than in 2022.

10. Floki Inu (FLOKI)

A meme coin with a play-to-earn game (Valhalla) and other products. Its price is driven mainly by meme-coin sentiment rather than metaverse adoption.

What we learned since 2022

• Hype isn’t adoption: user numbers, not celebrity partnerships, decide whether a virtual world survives.
• Token supply matters: many gaming tokens kept unlocking new supply, which pushed prices down even when the games improved.
• Security matters: bridge and game hacks, like the 2022 Ronin hack, wiped out user funds.
• Most projects fail: analysts estimate the large majority of Web3 games launched during the boom are now inactive.

If you still want exposure

Stick to the largest, most liquid tokens, keep any position small, and only buy on reputable exchanges. US readers can buy AXS, SAND and MANA on Coinbase or Binance.US, and readers outside the US can use Binance. Read how to research cryptocurrency first.

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