In recent weeks, as Facebook announced the rebranding of its brand to “Meta”, it has renewed interest in the Metaverse cryptocurrency project. Meta will create a VR (virtual reality) meta-space that allows people to socialize on a more interactive scale than before.
There are other Metaverse projects around, they are completely different from Meta. Here, the key difference lies in the use of blockchain. Meta’s metaverse is expected to be controlled and maintained by themselves, which is different from the control rights of projects seen in the blockchain metaverse distributed among thousands of users. This is a powerful method of distributing control, because it takes power from a single entity by placing it in the hands of a majority rather than a minority.
Due to what kind of person a person can become and what they can do in it, the metaverse is becoming more and more popular among millions of people around the world. The temptation to escape reality is one of the main driving forces that attracts so many people who want to be a completely different person from the real world. As we enter a new Metaverse world, many large companies have recognized this opportunity. As Facebook shows its intention to push the industry forward, as the new dawn of online social interaction arrives, it will only increase the industry’s gains. Of funds.
Compared with Meta, the decentralized Metaverse project empowers users and has a higher level of transparency between them and developers. We have selected 3 Metaverse projects based on blockchain. As the Metaverse movement is booming, you should consider using these projects.
#1 Sandbox (SAND)
The SAND metaverse is a relatively new project. This is a virtual world that allows users from all over the world to communicate with each other in a decentralized ecosystem. There are also opportunities to earn income by buying and selling land, in-game products and even real estate. They use their own game currency, SAND, which is traded within their ecosystem and can be used for many transactions in Metaverse.
Their impressive list of partners includes well-known companies and individuals who help expand the influence of investors. Well-known partners include game company Atari, music artists Snoop Dogg and Deadmau5, and the popular TV show “The Walking Dead.”
At present, their market value is less than 2.5 billion US dollars, which still means that as the project develops, they can achieve a lot of potential growth in the future.
#2 Decentraland (MANA)
Decentraland (MANA) is one of the more popular meta festival projects because it has been successful for a long time. Due to the trust of many investors in the development team, this has brought a lot of continued interest in its development. They also use the social aspect of VR, which is very similar to what Meta (Facebook) will use, and combined with blockchain technology to create a truly decentralized and transparent virtual world. Decentraland also uses its own game currency MANA, which can be used for various purposes, such as land, in-game items and even user names. These can be bought and sold, and then can be directly linked to fiat currency, and users can earn real income by playing games.
In Metaverse, users can create their own avatars, thereby realizing the infinite possibilities that a person can achieve. This is one of the aspects that attracts so many people to participate in the Metaverse Project, that is, a person can become the person they want to be, free from the constraints of the real world.
The current market value of Decentraland (MANA) is about 5 billion US dollars, which is only more than twice the market value of The Sandbox. Therefore, its future growth space may not be large, but its position in the field of Metaverse is much higher, which means that it has A more stable level of support.
#3 JEDSTAR DeFi (JED) and GameFi (KRED)
The third option that you should consider adding to the Metaverse project in your portfolio is JEDSTAR. This project is an updated cryptocurrency project (2021), which is a 3 token DECO used for DeFi (JED), GameFi (KRED) and Governance (ZED).
They have already released their DeFi token JED, and their GameFi token KRED will be released soon. JEDSTAR will use KRED in their upcoming collectible card game (CCG) and their metaverse massively multiplayer online role-playing game (MMORPG), and will use it to trade in-game content on their NFT market AGORA. This will support two games in the ecosystem.
JEDSTAR not only supports encryption-based aspects, but also extends to non-encrypted gaming platforms, such as their recent cooperation announcement with Skill Gaming for STARDOME. This will be the world’s first currency as a service (CAAS), and users will be able to directly convert their fiat currency to KRED and vice versa. This move will directly affect the large-scale adoption of encryption because it eliminates the usual situation where users need to skip in order to convert one to another.
They have announced the establishment of preliminary partnerships with Chainlink, Skill Gaming, FRAG Games and Remote Control Productions. As the project develops, more partnerships are expected to be announced.
Recognizing that gaming is one of the most appropriate ways to help increase the adoption rate of cryptocurrencies will help increase the current 4% adoption rate, as approximately 40% of the world’s people are playing video games. This is one of the most appropriate options to help increase mass adoption, as most of these 40% are already accustomed to using some form of in-game currency. The current difference between many AAA game companies is that it is only a one-way street in terms of converting legal currency into game currency. Fiat is used to purchase in-game content, but if users have in-game currency in their account and they want to exchange it back to legal currency, they will not be able to do so because the current business model does not allow them to do so. JEDSTAR realizes that there is a gap in the game platform market, so it takes steps to simplify the in-game currency process, which will help rewrite who should truly control their in-game finances through the cooperation with Skill. Games with approximately 30,000 users.
KRED will conduct a public pre-sale on JEDSTAR’s website in the fourth quarter, allowing users to purchase tokens at a discount before the public release later this year.
Since JEDSTAR is a much younger project, investors have the opportunity to participate in a higher percentage of growth compared to the established The Sandbox and Dectraland metaverse projects. JEDSTAR not only seeks to be a meta-universe, but also a multifaceted project that aims to increase the mass adoption of cryptocurrencies by implementing various use cases for KRED in the gaming industry.