BTCNEXT Foundation Hong Kong will focus on listing Metaverse and GameFi tokens

BTCNEXT Foundation Hong Kong considers crypto metaverses to be a new global trend. Their tokens are rising in price, despite the correction and bearish sentiment in the crypto market.

The year 2021 marked the countdown to the metaverse, with Mark Zuckerberg's announcement that Facebook would be rebranded to ‘Meta’. The Winklevoss brothers, two well-known crypto enthusiasts, don't intend to give up the monopoly to a competitor and are preparing to oppose Meta with their own alternative development. Regardless of who ends up releasing the first one, the metaverse era is inevitable and there are existing projects to prove it!

Whispers of the metaverse

The fashionable word "metaverse" was first mentioned in the fantasy novel "Avalanche" by Neil Stevenson in 1992. This term was understood to describe a single virtual space that copies and replaces the real world, where users interact with digital objects and other users. Back then, it seemed like a distant dream. But in 2022, we have a new hype around the concept of "meta-universe".

Mark Zuckerberg stirred up the public by announcing the creation of his own metaverse. This virtual space will bring users together using augmented (AR) and virtual reality (VR). All services and applications within the metaverse will also be unified. Over $5 billion will be spent on the project’s development.

It's hard to imagine a better moment. Now that technologies such as blockchain and Web 3.0 are widely available and the GameFi sector is gaining momentum, society is ready for a fully-fledged migration to the digital space. People all over the world have quit their jobs and immersed themselves in gaming virtual worlds to farm money and collectibles. Humankind seems ready for its next evolutionary step.

The role of blockchain and GameFi

Blockchain is literally at the forefront of this movement, offering creators of virtual worlds fast and cheap micro-payments, automation of the digital economy through smart contracts and digital rights to virtual property with NFT technology, along with transparency and security.

GameFi is successfully demonstrating that users can monetize their game time and the resources they earn in the digital space. Previously, this experience was only available to adventurous players. With this setup, much will change in the future.

To illustrate the globalization of GameFi, it's worth paying attention to the general popularity of crypto games. Over the past 30 days, the top 5 projects have attracted more than 4 million users. The capitalization of these projects exceeds $7.5 billion. The Non-Fungible Token (NFT) overall market cap is $67 billion. New players are entering the market and offering their own potential meta-universes. The crypto games market is expected to grow 300% by 2024 and most of these projects are and will be decentralized.

DEXs are the key

Metaverses will likely use decentralized trading as one of their staples. In 2021, DEXs gained a lot of attention from traders, showing a collective volume increase to $100 billion. Compared to 2020, this figure was up x5 times. There’s a realistic potential that metaverse tokens will be made available on popular DEXs. Thus, the native tokens of top DEXs (UNI, 1inch, etc.) have great growth potential and are available for trading on BTCNEXT Exchange.

Disruptive changes

The arrival of metaverses will change the balance of power in the crypto industry, not to mention the whole market landscape, say analysts at BTCNEXT Foundation Hong Kong. A new class of asset will appear – the metaverse "native token", which will be the lifeblood of metaverses. The demand for such assets will be comparable to the demand for the U.S. dollar, because Facebook’s audience alone is more than 1.5 billion people. Half of the world's population will become active users of metaverses within a few years.

While Meta is only developing its own metaverse, blockchain projects will offer users the chance to immerse their heads in gameplay! The leader in terms of capitalization today is Decentraland, with the project's token (MANA) having increased in price from $0.75 to $5.20 and is currently trading at around $3.50. Another great example of a crypto metaverse is The Sandbox, whose SAND token skyrocketed from $0.035 to $7.50 in less than one year and is now trading at $4.50.

But more importantly, metaverse tokens are going against the global trend. While most altcoins have lost up to 80% of their price during the current correction, metaverse tokens only fell to around 50% of their ATH and are already actively recovering. New metaverse tokens are showing explosive growth, for example, SIDUS token grew by x110 within the first month of its listing. Such shifts do not go unnoticed by the crypto community.

Guilds will rule!

Guilds are yet another interesting innovation. Previously, players would unite in teams, clans and parties to have fun together in games, e.g. the MMORPG World of Warcraft, but metaverses are doing things their own way. Now, gameplay directly correlates with the power to earn money. All players’ productive actions inside a metaverse generate income. This leads to the fact that investors and proactive players with startup capital will begin to unite in what they term ’guilds’.

With the help of guilds, users and investors can increase the effectiveness of their presence in a metaverse and earn money while having fun with gaming products. Guilds are not limited to one project and work as teams, where everyone has their own tasks. In essence, metaverses have reinvented gaming, making it profitable for all users. And this trend will only continue to gain momentum!

Metaverses are inevitable, you may as well accept this fact, so start figuring them out now if you want to make money tomorrow. Or you could ignore these prospects and stay on the outside. The advice from BTCNEXT Foundation Hong Kong is – choose the first option!

To learn more about BTCNEXT, visit the official website.

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