Metaverse is the new revolution our society will face and is happening right now. There is not just one Metaverse, we will see thousands in the next few years, and there will be a lot of money involved.
Ethereum is more than crypto. It is an open-source platform on which many of these new Metaverses are built. This is one of the reasons why JP Morgan predicts Ethereum will surpass Bitcoin as the most valuable crypto. Today, investing in Ethereum projects is one of the best ways to profit from this revolution. Keep reading how ETH projects will dominate the first stages of the Metaverse and how you can make money from them.
Why invest in Ethereum Metaverse projects?
Some of the most important companies in the world are betting on this new technology that has taken its first step with video games like Axie Infinity or Second Life. These games allow you to play in different worlds you create by yourself. They were not the first to do that. Games like Minecraft made that possibly many years ago. What is different now is the use of blockchain platforms to run these worlds.
Blockchain technology allows players to trade game items without going to secondary markets, and the Ethereum platform has been the best so far. But gaming is just the first step. After that, everything will have its representation on the Metaverse, and in the future, we’ll hold work meetings and have all kinds of simulations on the Metaverses.
How does it work?
The blockchains of different platforms have made the connection from these metaverses to the real world. First, blockchains made it possible to create decentralized data that hold these entire worlds, but now the NFT has leaped, making trading possible inside these worlds.
NFT are digital assets like pictures, video, or any other unique digital element that trades get to trade in exchange for any of the thousands of cryptos there are.
Most of the most famous games have their cryptos, but Ethereum is important because it is the platform for most cryptos.
How to start?
The thing about Metaverse projects is that most of them create value over NFTs trading. This market is exploding now, and it will keep that way in the future, but since this is such a volatile thing, not every investment is profitable, and you could lose money easily. Something like that happened with the video game Plant vs. Undead.
After being a huge success, the change in the game’s rules depreciated the crypto’s game. So, be sure you do your homework and study every case before getting any money on one of these projects. Let’s see the top three Ethereum Metaverse projects to watch out for.
52-week range: 0.3737-4.6911
1-year price change: + 216.19%
Forecast 2022: $4-$6
Mana is the token of the Metaverse game Decentraland. This game is an Ethereum blockchain-based project and aims to create a virtual world similar to the real world.
Mana is the governance token of the game and is the one players use to buy and sell lands.
The coin uses the ERC-20 Ethereum standard. So, you can trade it on Defi’s and DEX of Ethereum. As we know, the value of an asset depends largely on supply and demand. That is why Mana’s creators limited the supply of the crypto, so the coin’s value increases with time. The total amount of Mana will be 2.194.460.527.
52-week range: 0.1471-5.4469
1-year price change: + 4500%
Forecast 2022: $9-10
Sandbox is a video game based on the Metaverse idea. In the game, players can choose their path. There are several tasks you can complete, but you can also play freely without setting any goals. The name of the game illustrates that idea, referring to sandboxes in which children play freely.
The game runs on Etherum’s platform to allow players to trade tokens. Players can create Non-fungibles tokens that then trade for the tokens of the game. On the Sandbox metaverse, there are three tokens based on the ERC-20 Ethereum standard.
These tokens are SAND, GEM, and CATALYST. In addition, there are other tokens named LAND and ASSETS. The official token of the game is SAND, and you can trade it on platforms like Binance.
52-week range: 62.86 – 165.37
1-year price change: + 121,20%
Forecast 2022: $202.78
Axie Infinity is the king of NFTs games. The game runs on Pokemon’s idea of getting digital mascots to fight against different players to win digital objects. To get the digital mascots, you need to put in money, and once you earn NFTs, you can sell them to get Fiat money. There are amazing stories about how this play2earn game has gotten families to get out of poverty. In the Philippines, entire towns have avoided the pandemic crisis thanks to this metaverse game.
The game has two different coins: Smooth Love Potion (SLP), Axie Infinity Shard (AXS), and you can also use Ethereum (ETH).
Upsides and downsides
Bitcoin is the most valuable cryptocurrency today, but that does not mean that it is the only one. Ethereum is today its stronger competitor, and the capacity of the platform to make smart contracts could make Ethereum the most important platform in the crypto world.
However, Ethereum still has several challenges to face, and it is not like Ethereum does not have any competition. Let’s see some of the major advantages and disadvantages of the platform.
While Bitcoin is just crypto, Ethereum is an entire platform that, among other things, offers smart contracts.
The major threat for Ethereum hegemony over metaverse developments is its low processing rate. Solana is challenging Ethereum with its 50,000 transactions per second rate.
Ethereum is a decentralized environment. Not just because there is not one entity regulating the crypto, but also because the developers fight to avoid ASICs to take control over the platform.
All the services the Ethereum platform offers are its major advantage and risks. It is not easy to maintain so many utilities and services. This is a major challenge for Ethereum stability.
Bitcoin is one of the most liquid cryptos on the market.
Ethereum is the base of most Metaverse trade right now. However, the platform faces several challenges. The platform is the most robust on the market today, and even when you can still find some floods, its competitors have not matched its presence on the metaverse developments. We will see what the release of ETH2 will solve.