NFT Gaming: Bit Hotel could become the resort of the Metaverse | Investing.com

  • Bit Hotel has everything for Metaverse and NFT followers.
  • The rewards are BTH tokens.
  • BTH tokens have been trading since late 2021.
  • The trend is now down for tokens in the top 26% of the asset class.

In the physical world, a hotel is an establishment that provides accommodation for payment, usually on a short-term basis. The facilities available when booking a hotel room can range from a modest place to sleep to a luxurious resort. Hotels are common destinations for business trips, conventions and vacations.

It didn’t take long for the hotel concept to catch on in the rapidly expanding world of cryptocurrencies, non-fungible tokens (NFTs), and the metaverse. Bit Hotel is an online NFT social game that uses Bit Hotel Coin (BTH) as its in-game currency.

With over 18,540 cryptocurrency tokens available and new tokens hitting the market every day, this asset class has expanded to reflect almost every aspect of life. The metaverse is poised to become an alternate reality that social media, tech companies, and some CEOs like Mark Zuckerberg believe will merge with reality in the years to come. Indeed, the Facebook founder is so convinced of the future potential of the metaverse that he has renamed his company Meta Platforms (NASDAQ:).

Bit Hotel has everything for Metaverse and NFT enthusiasts

the Bit Hotel website describes the protocol as:

“A social-first play 2 earn NFT game metaverse, in which users can compete to earn Bit Hotel tokens and acquire native NFTs. These NFTs are usable in-game and consist of characters, hotel rooms, furniture and other artifacts that have their own advantages.”

An NFT is a non-interchangeable unit of data stored on a blockchain, a digital ledger, which can be sold or traded. NFT data unit types are often associated with digital files such as photos, videos, and audio files.

The Metaverse is a network of 3D virtual worlds focused on social connection. Futurism and science fiction often portray it as a hypothetical iteration of the internet as a single, universal virtual world that is facilitated through the use of virtual and augmented reality headsets.

In the new metaverse world, Bit Hotel is a vacation spot.

Rewards are BTH Tokens

Bit Hotel’s original cryptocurrency is BTH. In an article published in February on the Bitcoin.com site, the author describes how those who play the Bit Hotel game can earn money simultaneously. Players compete to collect digital real estate as well as other NFT items and characters to earn income or display to their friends.

Every room and common room in Bit Hotel functions as a chat room where users can hang out, communicate or trade with other players. Players can also compete in mini-games to earn rewards in the form of tokens and exchange them for in-game assets. They can also “cash out” their in-game winnings and receive BTH tokens.

Bit Hotel has sold millions of dollars worth of digital real estate. A motivated investor can become the proud owner of a hotel room in the metaverse.

The BTH cryptocurrency was launched at the end of 2021

On March 28, BTH was the 4,806th token out of 18,543 in the asset class. The tokens started trading in December 2021 at 6.9 cents and were three times cheaper at the end of March at 3.218 cents.

Bit Hotel/USD chart

Source: CoinMarketCap

The chart shows that shortly after BTH began trading, it hit a high of 22.44 cents. But since then the trend has been down, with lower highs and lows.

The trend is now down for a token in the top 26% of the asset class

BTH has been trending lower, which could present an opportunity for investors interested in the volatile cryptocurrency asset class.

Many of the 18,540 cryptos follow the leaders, and . Since March 27, the two major cryptocurrencies have been trying to break out of their upward wedge pattern.

Bitcoin Futures W1

Bitcoin Futures W1

Source: CQG

As the chart shows, fell from $69,355 in mid-November 2021 to $32,855 at the end of January 2022. At $47,325 on March 31, bitcoin futures were close to the new high for 2022 of $48,000 reached at the start of the week.

Ethereum W1

Ethereum W1

Source: CQG

During the same period, fell from $4,902.75 to a low of $2,158 per token. At $3,417.50 currently, the second-top crypto also made an upward breakthrough in late March.

Only invest what you are willing to lose on cryptocurrencies

Investors, traders, gamers, and people looking for a vacation spot in the metaverse can consider Bit Hotel at the level of 3.218 cents per token. Owning hotel rooms and vacation properties in the metaverse is, of course, a risky proposition, as is investing in cryptocurrencies.

The only rule to follow remains constant: only invest or speculate with capital that you are willing to lose, as cryptos and real estate in the metaverse via NFTs are very risky assets that have the potential to become a total loss. Remember that in the metaverse, retirement only exists in our minds.

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NFT Gaming: Bit Hotel could become the resort of the Metaverse | Investing.com


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