The rapid expansion of the cryptocurrency industry has given rise to the metaverse space, which has recorded an increasing interest from crypto investors and traders who want to participate in it but do not know which of them would bring them the highest return on investment (ROI).
As it happens, the metaverse project that has brought the highest returns to the early investors is a Pokémon-inspired blockchain-based Play to Earn (P2E) metaverse game Axie Infinity (AXS), according to data by the crypto market analytics platform CryptoRank published on October 13.
RIO chart champions
With a current ROI of 103.8x, Axie Infinity precedes The Sandbox (SAND), a virtual environment that allows users to as well as “create, control, and monetize their game experiences,” according to the developers, which is in second place with 85.3x ROI.
With 25x ROI, putting it in third place, is Decentraland (MANA), a virtual living platform powered by cryptocurrency and built on the Ethereum (ETH) blockchain where users can purchase metaverse land plots as non-fungible tokens (NFTs), similarly as in The Sandbox.
Notably, Axie Infinity also has the highest all-time high ROI of a remarkable 1643.4x, with its current ROI representing a 93.7% decrease. Interestingly, all three top metaverse projects by ROI at the moment have a market capitalization higher than $1 billion.
Other metaverse projects that excel in their ROI, albeit considerably lower than the three top players, include GensoKishi (MV), Step.app (FITFI), Bloktopia (BLOK), My Neighbor Alice (ALICE), XANA (XETA), Wilder World (WILD), and Victoria VR (VR).
Diminishing trading and profitability of metaverse land
That said, it needs to be noted that the trading volume for 18 metaverse virtual land projects has recorded a drop of a whopping 98%, plunging from its peak in November 2021, when it stood slightly above $8 million, as Finbold reported.
On top of that, the profitability of metaverse land flipping has diminished along with plummeting profits in Q2, keeping up with the downward pattern that started in January 2020 and continued throughout 2021 and early 2022.
This article was originally published on finbold.com