Blockzeit
  • News
    • Business
    • Politics
    • Metaverse
    • NFTs
    • Markets
    • Investing
    • Technology
    • Trends
  • Tools
    • Crypto Charts
    • Crypto Heatmap
  • Education
    • Reviews
    • Guides
    • Bitcoin Price Analysis
  • Crypto Exchanges
No Result
View All Result
  • EnglishEnglish
    • EnglishEnglish
    • DeutschDeutsch
    • PortuguêsPortuguês
Buy Crypto
  • News
    • Business
    • Politics
    • Metaverse
    • NFTs
    • Markets
    • Investing
    • Technology
    • Trends
  • Tools
    • Crypto Charts
    • Crypto Heatmap
  • Education
    • Reviews
    • Guides
    • Bitcoin Price Analysis
  • Crypto Exchanges
No Result
View All Result
Blockzeit
No Result
View All Result
Home Metaverse
Decentraland game 1024x583 1

Decentraland game 1024x583 1

Why These 3 Metaverse Tokens Are on the Rise

Jay Speakman by Jay Speakman
November 23, 2021
in Metaverse
Reading Time: 4 mins read
0
Share on FacebookShare on TwitterShare on LinkedinShare via WhatsappShare via Email

In a week that saw Bitcoin fall nearly 10% and Ethereum dip close to $4,000, 3 metaverse coins were instrumental in leading the rally that most expected would be fronted by BTC and ETH

Bitcoin and Ethereum have lost ground: Not these Metaverse Tokens

Various metaverse-related cryptocurrencies have exploded in popularity recently. This is a topic that is receiving a lot of attention right now. As it turns out, investors appear to be very interested in the disruptive potential that various blockchain networks provide in this respect.

Decentraland (MANA) was up 14.5 percent , The Sandbox (SAND) was up 5.5 percent, and Alien Worlds (TLM) was up 4.2 percent in the recent rally.

A wave of green on the charts represents at least some of the recent price activity across various cryptocurrencies. In fact, it appears that investors are taking a riskier approach to growth, with many hyper-growth sectors trading higher. 

Metaverse-related equities or cryptocurrencies are exhibiting spectacular price action, indicating that investors have discovered what appears to be a long-term momentum trade.

Rocket Shot Cryptos

Over the last month, the stock charts of Decentraland, The Sandbox, and Alien Worlds all show similar rocket shot action. The main cause of this rising momentum appears to be a late-October / early November increase spurred by strong initiatives from different prominent tech corporations to target the Metaverse.

This was kickstarted with the Facebook announcement and subsequent awkward rebrand into ‘Meta’. While the timing was a bit suspect, there’s no doubt that Facebook still has huge influence in the tech world, and now, apparently the crypto sector as well. Facebook stock rose sharply following the October 28th rebrand announcement.

At the time of this article, Decentraland, The Sandbox, and Alien Worlds are up 419 percent, 454 percent, and 35 percent, respectively, over the previous month.

And that’s not all. 

Enjin, another metaverse-adjacent project, was up nearly 15%, trading with a near ATH of $3.71.

Enjin Coin (ENJ) is an ERC-20 token that trades on the Ethereum blockchain, and its underlying technology drives an ecosystem that supports NFTs, gaming, and other distributed apps.

Enjin provides numerous blockchain products, including a marketplace, wallet, and developer platform based on Enjin Coin.

What does it mean?

These three metaverse-related cryptocurrencies each power a variety of online games. Each is based on, or is at least connected to, the Ethereum blockchain in some form, and allows players to monetise their experience by collecting in-game coins or non-fungible tokens. As a result, these games have risen in popularity, particularly in low-income nations where users have been reported to be able to earn a living by playing them. (Perhaps the UN and World bank should be disbanded and more gaming access should be provided instead?)

As a result, these tokens are supported by more than just a metaverse catalyst. Rather, it appears that investors appreciate the utility  being produced for users, as well as the stickiness that these crypto games provide for networks.

What’s next?

For those looking for growth, the metaverse offers a diverse choice of investment opportunities. The crypto sector is currently one of the primary venues where investors are looking for earth-shattering rewards.

There is undoubtedly a compelling case to be made for these tokens. After all, genuine benefit is being provided for users. End users don’t care whether or not an online game is built on the blockchain. If the experience is equally as pleasant, and there’s some money to be made from playing the game, it’s easy to understand why the growth trajectory for these various tokens might be enormous.

Final thoughts

According to the current market conditions, MANA is about double the size of SAND ($3.8B), with both around the $4 price range, making this a favorable time to choose a side. Following a recent 35 percent increase in the stock price, SAND is currently trading at $4.31.  

MANA, on the other hand, is currently trading at $4.10, down slightly from where it was trading earlier in the day. 

MANA is significantly larger in terms of market capitalization, with a market capitalization of $7.4 billion compared to SAND’s $3.8 billion. 

But many now are looking at the Sandbox with renewed interest.

Iconic Japanese tech investor SoftBank, is making its own push into the metaverse market, and it has chosen Sandbox (SAND) as its long-term holding. SoftBank obtained $93 million in Series B funding for Sandbox in order to accelerate its development. With this new infusion of funding, Sandbox developers can push for more sophisticated options for users, such as live music and new games.

Naturally, each of these metaverse-inspired tokens, like other cryptocurrencies, carries a significant amount of risk. However, it appears that for the time being, investors have judged that the danger outweighs the gain. As a result, MANA, SAND, and TLM are three tokens to keep an eye on in the coming weeks, and beyond.

If you enjoyed this article, you might also like: Top 5 Metaverse Coins for 2021 and Beyond

Jay Speakman
Jay Speakman

Jay Speakman is a technology writer based in San Francisco, California. He writes on the topics of blockchain, cryptocurrency, DeFi and other disruptive technologies. Clients include Avalanche, Be[in]Crypto, Trust Machines and several blogs devoted to blockchain gaming. He will not rest until fiat currency is defeated.

Tags: Metaverse
Previous Post

Australian Senator Says Crypto is not a Fad and DeFi is Here to Stay

Next Post

Spool Sets LBP Launch Date for its Yield Optimizer

Related Posts

IMG 20221024 231353

The Teleported NFT Club presents Art by Teleporting people from an Image into the Metaverse!

by Ken Emmanuel
October 24, 2022
0

Teleported NFT Club is introducing a new NFT project of 50 Street photographs that have been edited to remove its...

1 gyxYRqdcULyjIOC WRksXw

What Is The Sandbox? – The Metaverse

by Jay Speakman
November 21, 2021
0

The Sandbox is a virtual environment that is decentralized and driven by the community, where creators can develop, distribute, and...

Load More

Get updates to your inbox!

Subscribe to our mailing list to receive daily updates!

FOLLoW US:

Blockzeit Logo 10 1

Blockzeit was founded in 2021 in Switzerland with the mission of bridging the gap between the complex blockchain technology and the general public. Blockzeit is a news and education platform that aims to make blockchain more accessible and bring more transparency to the scene.

Popular Categories

Categories
  • Bitcoin News
  • Business
  • Education
  • Investing
  • Markets
  • Metaverse
  • NFTs
  • Politics
  • Press Release
  • Switzerland
  • Technology
  • Trends
  • Uncategorized

Important Links

  • Privacy Policy
  • Disclaimer
  • About us
  • Contact us
  • Blockchain Jobs
  • Events

Contact & Social

For guest posts, contact us via info@blockzeit.com

 

Contact: info@blockzeit.com
Press: press@blockzeit.com

Facebook Twitter Linkedin Instagram
  • Home
  • Markets
  • Investing
  • Technology
  • Trends
  • NFTs
  • Education
  • Events
© Copyright by Blockzeit.com. All rights reserved.

Disclaimer

Start making money with crypto.

Buy Here
No Result
View All Result
  • News
    • Business
    • Politics
    • Metaverse
    • NFTs
    • Markets
    • Investing
    • Technology
    • Trends
  • Tools
    • Crypto Charts
    • Crypto Heatmap
  • Education
    • Reviews
    • Guides
    • Bitcoin Price Analysis
  • Crypto Exchanges
  • DeutschDeutsch
  • PortuguêsPortuguês

© 2021 Blockzeit by Blockzeit.