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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

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 hypothetical iteration of the Internet as a single, universal and immersive virtual world that is facilitated by the use of virtual reality (VR) and augmented reality (AR) headsets. In colloquial use, a metaverse is a network of 3D virtual worlds focused on social connection.'

Metaverse could have tremendous potential and could be used in multiple industries .e.g.

        1. Education - Imagine yourself attending a course virtually with students from various countries

        2. Retail - Shopping at a virtual fashion street with the ability to try out different outfits

        3. Medical - Doctor's from various countries discussing a patients case virtually using 3D models or                               even performing test surgeries 

        4. Construction - Building concepts could be designed using intricate details in the metaverse                                               before construction in the real world. Developers could also have virtual design                                           homes for potential investors.

        5. Auctions - Virtual auction where you could get a 360 degree view of the item

 The above are only a handful examples of metaverse use cases, the possibilities could be endless

All being said, which coins should you focus to get a head start investing in the metaverse industry:

Decentraland:

Decentraland is an Ethereum based virtual world where users can buy and sell digital real estate while exploring, interacting and playing games within this virtual world. Decentraland even has its own marketplace where users can buy and sell land & wearables amongst each others.

Decentraland as at 4th August 2022 is trading at $0.9918/Mana


Decentraland has been on a consistent downtrend since February of this year resulting from a drop in bitcoin due to increase in interest rates and drop in the stock markets. However looking at the daily chart above, it can be seen that the 30 moving average (Blue) has crossed over the 50 moving average (Green) and the bars are above both the moving averages & the Heikin Ashi indicator bars, possibly pointing towards a gain in price in the next few days.


The chart above has indicated a 'BUY' on the 12 hour chart


SandBox:

As per coinmarketcap, Sandbox is virtual world allowing users to create, build, buy & sell digital assets in the form of a game. The platform focuses on facilitating a creative “play-to-earn” model, which allows users to be both creators and gamers simultaneously. 

Sandbox has partnered with some big name companies .e.g.  Adidas, Standard Chartered Bank, Softbank, South China Morning Post, Atari, Samsung Next, to name a few. Partnership with these big names could make Sandbox a currency to keep an eye out on.

Sandbox as at 4th August 2022 is trading at $1.31/Sand


Similar to Decentraland, Sandbox has also been on a consistent downtrend since February of this year resulting from a drop in bitcoin due to increase in interest rates and drop in the stock markets. However looking at the daily chart above, it can be seen that the 30 moving average (Blue) has crossed over the 50 moving average (Green) and the candle bar is above the moving average but in tandem with the Heikin Ashi indicator bars, possibly pointing towards a gain in price in the next few days.


The above 12 hour chart indicated a 'SELL' more than 3 days ago

Overall, the metaverse seems to have a promising future and it with MANA & SAND too could see their prices rise in the future

Note: Trading decisions should not be based on the opinion in this 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.

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Happy Investing!!!

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