3 Crypto Projects to Look at as the Metaverse Movement Booms
13 Novembro 2021 - 03:32PM
NEWSBTC
In recent weeks as Facebook announced it was rebranding to the name
“Meta” it has sparked a renewed interest in metaverse
cryptocurrency projects. Meta will be creating a VR (Virtual
Reality) metaverse where people can socialise together on a more
interactive scale than they previously could. There are other
metaverse projects around and they are quite different from Meta.
Here, the key difference is the use of blockchain. The Meta’s
metaverse is expected to be controlled and maintained by
themselves, which is unlike what is seen in the blockchain
metaverse where the control of the project is distributed across
thousands of users. This is a powerful thing to distribute control
as it takes power away from the single entity by putting power in
the hands of the many rather than the few. Metaverses have become
increasingly popular among millions around the world due to there
being an endless amount of possibilities to who a person can be and
what they can do in them. The lure of escapism is one of the main
drivers that attracts so many to want to be a completely different
person from what they are like in the real world. As we move into a
new metaverse world, many big companies are recognizing this
opportunity and with Facebook showing its intent to drive this
sector forward, it will only add to the funding this sector
receives as new dawn arrives on what online social interaction can
become. Compared to that of Meta, decentralized metaverse projects
put the power into the users and have a much higher level of
transparency between them and the developers themselves. We have
selected 3 blockchain-based metaverse projects you should look at
taking advantage of as the metaverse movement booms. #1 The Sandbox
(SAND) The Sandbox (SAND) metaverse is a relatively new project. It
is a virtual world that allows users around the world to socialize
with one another in a decentralized ecosystem. There is also the
opportunity to earn incomes from buying and selling land, in-game
products and even real estate. They use their own in-game currency
SAND that is traded within their ecosystem and can be used for many
transactions within the metaverse. Their impressive partner list
includes that of notable companies and individuals that help
increase their reach for investors. Notable partners include that
of gaming company Atari, music artists Snoop Dogg and Deadmau5 as
well as popular TV show The Walking Dead. Currently, their market
cap is under $2.5 billion which still means there is a large amount
of potential growth that can be achieved in their future as the
project develops. https://coinmarketcap.com/currencies/the-sandbox/
#2 Decentraland (MANA) Decentraland (MANA) is one of the more
popular metaverse projects as it has been successful for a long
period of time. This has brought a lot of continued interest in its
developments due to the belief many investors have had in the
development team. They also use a VR social aspect, much the same
that Meta (Facebook) will be using, and is combined with blockchain
technology to create a truly decentralized and transparent
metaverse. Decentraland also uses its own in-game currency, MANA,
which can be used for various purposes such as land, in-game items
and even names for users. These can be bought and sold which can
then be directly linked to fiat money where users can earn actual
income from playing the game. Within the metaverse, users can
create their own avatar that allows for endless possibilities that
a person can achieve. This is one of the aspects that attracts so
many people to metaverse projects which is the ability for a person
to be whoever they desire to be, free from their real world
limitations. The current market cap of Decentraland (MANA) sits
around $5 billion which is just over double the market cap of The
Sandbox so it may not have as much room for future growth, but it
is, however, a lot more established in the metaverse sector which
means it has a much steadier level of support.
https://coinmarketcap.com/currencies/decentraland/ #3 JEDSTAR DeFi
(JED) and GameFi (KRED) The third choice for metaverse projects you
should consider adding to your portfolio is JEDSTAR. This project
is a much newer cryptocurrency project (2021) that is a 3 token
DECO for DeFi (JED), GameFi (KRED) and Governance (ZED). They
currently have their DeFi token JED released and their GameFi token
KRED will be releasing soon. JEDSTAR will be using KRED for their
upcoming Collectible Card Game (CCG), their metaverse Massively
Multiplayer Online Role-Playing Game (MMORPG) and it will be used
for the trading of in-game content on their NFT marketplace AGORA
that will support the ecosystem of both games. Not only are JEDSTAR
supporting crypto based aspects but they are also reaching
non-crypto gaming platforms such as with their most recent
partnership announcement with Skill Gaming for STARDOME. This will
be a world’s first Currency As A Service (CAAS) where users will be
able to directly convert their fiat into KRED and vice versa. This
initiative will directly influence the mass adoption of crypto as
it takes out the usual hoops that users need to jump through in
order to convert one to another. They have already announced their
initial partnerships with Chainlink, Skill Gaming, FRAG Games and
Remote Control Productions with more expected to be announced as
the project evolves. Having recognised that gaming is one of the
most appropriate avenues to go down to help increase the percentage
of crypto adoption, this will help increase the current 4% adoption
as around 40% of the world plays video games. This is one of the
most suitable choices to help increase mass adoption as a large
majority of this 40% are already accustomed to using in-game
currencies of some form. The difference that currently persists
with a lot of the AAA gaming companies is that it’s only a one-way
street in terms of converting fiat into the in-game currency. Fiat
is used to buy in-game content but if a user had in-game currency
on their account that they wished to convert back into fiat, they
would be unable to do so as the current business model does not
allow them to do so. JEDSTAR has realized that there is a gap in
the market for gaming platforms and has therefore made the steps to
simplify the process of in-game currencies that will help rewrite
who should actually be in control of their in-game finances through
their partnership with Skill Gaming which has around 30,000 users.
KRED will be having a public pre-sale on JEDSTAR’s website in Q4
which allows for users to purchase the token at a discounted price
prior to public launch later in the year. With JEDSTAR being a much
younger project, investors have the chance to be involved in a much
higher percentage of growth than The Sandbox and Dectraland
metaverse projects with them already being established. Not only is
JEDSTAR seeking to be a metaverse but a multi-faceted project that
aims to increase mass adoption of cryptocurrencies through the
implementation of various use cases for KRED within the
play-to-earn gaming industry. https://jedstar.app/ Image:
Pixabay
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