The Next Big Thing In Crypto

Just a little while ago, Facebook rebranded itself to Meta to solidify its desire and intention to create the Metaverse. This single change is transforming the way people perceive cryptocurrencies at an alarming rate, creating massive opportunities to build wealth.

 

What is the Metaverse?

A fully formed Metaverse is a digital world capturing the detail and complexity of the real world. Attend office meetings everyday? Meet with your coworkers' avatars in the Metaverse instead. Can't afford land in your hometown? Buy digital land in the Metaverse instead. It is easy to see the appeal of a world where the user has much more control of their finances and even their own looks.

The Metaverse and Crypto

With the Metaverse being a digital world and all, it's hard to imagine someone walking around with real world cash in it. This is where Crypto comes in. As the logical choice for currency in a digital world, many people are buying into various cryptocurrencies, finally seeing their potential to provide real value.

It's Very Early

Of course developing an enticing digital world is an immense technical and creative challenge, and as such is still quite a long ways away. Nonetheless, when a company such as Facebook Meta commits to an idea, you expect them to see it come into fruition. With the end product being so far away, it is difficult to determine if any of today's crypto projects will actually have relevance in the Metaverse, but the Metaverse is not the be-all and end-all. Many other developers are racing to build their takes on (simpler) metaverses. These projects are currently booming in value.

Meet The Money Makers

The next big thing in crypto: Crypto Gaming. As with anything else in crypto, this sector is a very diverse place but can be roughly generalized as consisting of games that provide some incentives for players to play. Some of these games are (1) play-to-earn, others (2) require putting in money upfront and hoping it appreciates in value over time (investing in the game), many allow users to (3) create and/or cash in on unique in-game NFT artwork, and (4) some combination of the other three. Each project typically has a crypto associated with it.

The Sandbox ($SAND)

A virtual world where players buy and sell digital land, as well as any artwork they create. Learn more here.

$SAND is +7,353% since a year ago.

Decentraland ($MANA)

Similar in function to The Sandbox, Decentraland means decentralized land. Learn more here.

$MANA is +3,863% since a year ago.

Axie Infinity ($AXS)

This is a pokemon inspired universe that is play-to-earn. Players can battle for, collect, and build a land-based kingdom for their pets. Learn more here.

  

$AXS is +105,825% since a year ago.

* Many other profitable projects exist, but are not captured here for brevity.

Considerations For The Future

All of these cryptos have gained considerable value in the recent past. While exciting to look at, this makes them riskier to invest in. Many tout $SAND for having great upside still, but it is likely wiser to find newer games coming into the market that have a lot of potential. Easier said than done, we know. 

Many other tokens exist in the space that aren't simply games. The platforms that enable games to scale on the blockchain such as Polygon ($MATIC), and Enjin Coin ($ENJ) may be wise bets moving forward. Game studios may start creating tokens for their studio rather than a specific game in the future as well. Think EA coin vs. a Battlefield 2042 coin. As with anything in crypto, there isn't a well-defined identity for this sector yet. There's also a risk of everything losing value rapidly.

The Risks

These games and platforms are still incredibly small and developing. They have tiny market caps which means they are highly volatile. This volatility is what allows massive booms in value (i.e. getting rich quickly), but also sends many people into financial distress. Remember, this is not financial advice. Please do your research before trading, and when you think you're done, do more. Trade cryptocurrencies as if you were gambling: only with money you are willing to lose.

Resources For Getting Started

For trading, our preferred platform is Coinbase.

For research, we prefer Coinmarketcap.

Interested in other cutting edge crypto products? Head to NETBOOKLET & search for "crypto".

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