CryptoQuestion — December 2021 News Bulletin
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The metaverse is everywhere
It seems that the crypto community is way ahead of the curve. Nothing new there. Facebook announced that they had changed their name to Meta to reflect their focus on the metaverse. Whilst blockchain entrepreneurs have been developing metaverse applications for a few years now Facebook gave it mainstream recognition. Before that announcement the average person hadn’t even heard of the metaverse and if they had they didn’t have a clue what it meant.
Here is a brief definition for those in the metaverse beginner camp:
A shared, realistic, and immersive computer simulation of the real world or other possible worlds, in which people participate as digital avatars.
Investors are piling into cryptocurrencies which have even a faint connection to the metaverse.
The top 5 cryptos in the metaverse space are:
- Axie Infinity $7.0B
- Decentraland $5.0B
- The Sandbox $4.7B
- Enjin Coin $2.7B
- Illuvium $0.8B
A few long shots worth a closer look:
- Somnium $0.2B
- Rentible $7M
The metaverse is an interesting concept to investigate, from an investors point of view anyway. There are two plays. The first is investing in the cryptocurrency and the second is buying land. Let’s take Decentraland for instance. Its fully diluted market cap of $10 billion is priced to perfection. In other words the valuation already assumes they will be a leading player in this market going forward. And that thinking is also priced into the…