Current fact, cryptos that are related to the Metaverse continue to climb in value to the delight of those who invest in them. Considering the evolution of this concept on the market, this is not at all surprising. Let’s take a close look at the numbers and facts.
An increase of +400% in just one year
This is a considerable increase anyway given that we have seen an increase of more than 400% for most crypto in just one year. Among those most prominent are Sandbox which recorded an increase of +470% in one year. STEPN (GMT), for its part, recorded an increase of 746% while Axie Infinity of 511%. All this demonstrates how the Metaverse is a good sector to invest in cryptocurrencies. Note that this data was provided by Kraken Intelligence and CoinGecko last May. Although most of the cryptocurrencies linked to the metaverse are recording such a rise, note that not all of them are experiencing this. Decentraland (MANA) for example only posted a 41% increase.
How does Metaverse and cryptocurrencies work?
Let’s recall why it could be interesting to invest in the Metaverse. The Metaverse is a revolutionary concept that is going to bring a big change all over the world, very soon. More and more domains are already moving towards it. Cryptocurrency investors are among those rushing towards this new horizon, because it is the very principle of the Metaverse: it is a new and virtual economy based on the exchange of cryptocurrencies. In this universe, for example, you can buy real estate, pay for tickets, etc. with cryptocurrencies. It is a virtual space where you can do a lot of things like play video games, walk around in a virtual way, etc. It’s a bit like a bridge between the real and virtual world.
A downfall for NFTs and traditional cryptos
All is not all rosy in the world of cryptocurrency. If we have been able to observe an increase for cryptocurrencies linked to the Metaverse, this is not the case for traditional cryptos as well as NFTs. The tokens of trading platforms such as Binance or Kucoin still recorded an increase, but very slight in one year. As for Bitcoin and Ether, which can be traded using BitiQ (click here), for example, their performance was recorded negative over one year.
As for DéFi, the results are catastrophic. There has also been a slight decline in interest in NFTs across the cryptocurrency markets. And yet, NFTs were among the centers of interest not so long ago. However, we have seen a huge drop of 87.1% in the volume of NFT exchanges.
As for the Metaverse, this universe continued to generate interest. About 1 million users request the most popular virtual games from the Metaverse. The cryptocurrencies linked to it are also increasing in number and those who invest in them can only be productive in their investment.
The Metaverse is the future
According to experts in the field, there is no possible doubt, the Metaverse holds the future of cryptocurrency. This concept is attracting more and more investors around the world. Even the big owners of social networks have gotten into it. Moreover, the first quarter of 2022 was marked by a fundraising of 2.5 billion dollars in order to support Blockchain games as well as all concepts relating to the metaverse.
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Metaverse: Related Cryptos Keep Soaring
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