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When Cryptoverse Meets Metaverse

The term 'metaverse' has been creating a buzz in the world in the last few months, Google search analysis shows that the term 'Metaverse' had a search score of less than 1 in 2020 which grew to 99 in 2022.  At the end of 2021 we also witnessed Facebook change its name to Meta , but its not only Facebook that is focused on the metaverse and its infrastructure, a bunch of tech companies are in the race for the metaverse (Nvidia, Unity, Roblox, Snap etc.) A recent report published by Technavio called, 'Metaverse Market in Finance by Component & Geography Forecast and Analysis 2022-2026' stated that the metaverse market will increase by $50.37bn during 2022-2026.  Another research company, Grand View Research , headquartered in San Francisco expects the global metaverse market size to grow by a compound annual growth rate (CAGR) of 39.4 from 2022 to 2030 But what exactly is the metaverse? Wikipedia describes metaverse as follows: 'Metaverse is a hypothetica

Is HOGE Finance A Good Cryptocurrency Investment Option?

          
              


 MARKET HIGHLIGHTS

Currency in circulation: 412 Billion
Market Capitalization: $93 Million 
Price per USD: $0.000227 (25th April 2021)


OVERVIEW


HOGE is a cryptocurrency not known by majority of the investors in the crypto realm. Similar to the now famous cryptocurrency DOGE, HOGE is a meme currency as well with the power of DeFi (decentralized finance).

To understand the concept of HOGE let's take the help of basic economics. Say, there are 10,000 units in supply of 'Item A' at a price of $1 each. Mr. A an investor is told that if he buys and holds 1,000 unit of item A, the value of his investment will increase over time.

Mr. A is curious as to how the price of his investment will increase overtime, he inquires about the structure of the investment plan. He is told that since there is a finite supply of item A (10,000 units), every time an investor buy 1,000 units of item A, 100 units of item A will be destroyed reducing the supply and in turn increasing the price of the remaining supply.

Mr. A realizes that the only way his investment would return a profit or gain in price is if more people buy item A. But the only way more people would buy item A is if they see a potential in the item itself.

Coming back to the fundamentals of HOGE Coin, as per HOGE Finance's official website, it states that 

'Every time a transaction takes place, 2% of that transaction is distributed and removed i.e. burned from the total supply. This increases the scarcity of every HOGE coin in circulation. What this means is that every time HOGE is used, the value of the remaining tokens in circulation is increased simultaneously decreasing the supply (deflation), while also distributing HOGE to everyone using the token'

However the next statement in continuation of the paragraph above, listed below does not sit well with me and doesn't make sense

'As a result of this, every single HOGE holder has an incentive to spread the use of HOGE as much as possible'

This to me sounds like if you are in it, you have to get others in it too to make a profit even if you don't like it, and doing that all the HOGE holders purposely limit the supply of the coin in-turn inflating the price.

That being said, HOGE Finance is currently working on a number of releases and expansions, details of which could be found on its website. 

Overall, the way HOGE intends for the price of its coin to increase makes no financial sense to me and therefore would not be a good cryptocurrency option to invest in, in my opinion. 

However this is purely my opinion based on my understanding of the coin and does not intend to defame the coin whatsoever.

Note: Trading decisions should not be based on the opinion in the article, investors should conduct their own due diligence before buying the cryptocurrency. This article is purely based on my own research and understanding of the cryptocurrency in the article.


HOW TO BUY CRYPTOCURRENCY/TOKEN

Buying a cryptocurrency/token has gotten really accessible to the general public. Its as simple as downloading the application on your phone, selecting the coin/token you are looking buy and place a buy order.

Binance is a the world's largest cryptocurrency trading application with a wide variety of cryptocurrencies to choose from. 

It is compatible with multiple devices and safe and convenient to trade using Binance.

Start your journey of being a cryptocurrency investor by registering with Binance today using the link below

Click Here to register with Binance

Happy Investing

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