The vivid surge in Bitcoin’s value over the years has buoyed up the next crypto revolution. The evolving space has clutched with Defi, NFT, and Gaming protocols over the past two years. And, the latest crackerjack in the space has been Metaverse! The vogue in the section has turned out to be a catalyst for the tokens built on Meta, and are just going parabolic.
While including Facebook and Microsoft, many other tech giants have planned to gear up to enter the Metaverse space, many tokens in the section have surged ahead of the game. Notably, Decentraland (MANA), Enjin (ENJ) Metacity, The Sandbox (SAND), and Ultra (UOS) keep hold of a vigorous aptitude to mark new milestones!
Decentraland (MANA) is a decentralized virtual reality (VR) platform built on the Ethereum blockchain. Traders are allowed to purchase land, build and monetize their assets in the built virtual world.
The latest move of Facebook to rebrand the company’s name to Meta has embarked the surge in MANA’s price by over 100% over the last 2 days. The protocol has been one of the predominant metaverse platforms in the crypto industry.
MANA Price Analysis:
The MANA price has rallied from $0.88 to a new ATH of $4.11 on October 31st, 2021. This highlights a more than 300% increase in the price in less than a week. The Meta token appears to be undergoing a decent correction. However, as the section has been attempting hard to get into the mainstream, the protocol has the incredible potential to soar high in the upcoming weeks. On the contrary, if it fails to apprehend the momentum then the price could settle at its initial levels.
The Sandbox is yet another great project that has excited the Metaverse space. The platform has its own virtual world where users could build their own gaming platform and monetize their gaming experiences on the Ethereum blockchain.
The key objective here is to disrupt the existing game creators such as Roblox and Minecraft by facilitating makers with actual ownership by the means of NFTs and rewarding them for their participation.
SAND Price Analysis:
The total market cap of the project stands at $1.3 billion with 2% gains in 24 hours. The SAND price appears to have followed the suit of MANA. After Facebook’s rebranding to Meta, the protocol has surged by over 100% from $0.831 to $1.85. Even after reaching a new ATH, the price has managed to continue the uptrend.
Ultra USO is one of the blockchain-based platforms that offer several games industries and blockchain-based solutions under one roof. The network has been aimed to scale beyond 12,000 transactions per second (TPS). The project appears to be promising as it is expected to grant access to limitless centralized and decentralized services. Like buying, playing, and selling the built games.
Ultra USO Price Analysis:
The USO price has been retracing its previous ATH post-Facebook’s rebranding to Meta. The protocol has recently faced rejection at $0.8105, falling to $0.7525 at the press time. The asset has its immediate bottom support at $0.7213, it is expected to take forward the momentum from there. The current market sentiments appear to be favorable, hence the USO price could claim its new ATH in the next couple of days.
Enjin ENJ Metacity:
Metacity, a metaverse project backed by Enjin. This is the world’s first free-to-earn NFT real estate platform inspired by Minecraft. The project has 70 NFT plots available where users can build numerous kinds of businesses. The key aspect of the plan is its creator economy where developers create value and earn rewards.
ENJ Price Analysis:
The Enjin coin has experienced massive gains over the past week where the altcoin soared by over 100%. The ENJ price has surged from $1.26 to $3.05 post the metaverse event by Facebook. Currently, the altcoin has been looking out for support for around $2.5. If it fails to sustain the above level the price would flip around the $2.01 zone. The present trends are looking pretty bullish for meta-based projects hence it could gain considerable profits after retest.
On the whole, as several tech giants have been anticipating entering the Metaverse world, the future looks for the projects based on it. Meanwhile, the section doesn’t carry an established track yet. Hence, it would take some time for Meta projects to bounce to the next levels.