Three Altcoins to explore | Metaverse’s cryptos rally after Facebook rebrands to Meta
Bitcoin has seen plenty of sideways action during the last week. The charts saw more red than green candles, but Bitcoin is stable and seems to be gearing up for a potential big breakout. The week started at $62,000 and ended around the $61,600 mark. When zooming out, it is still great to see Bitcoin above the $60,000 resistance line.
Ethereum on the other hand seems to be on fire. The Altair upgrade to the Beacon Chain seemed to have a positive influence, which resulted in a new all-time high for Ethereum last Friday when it hit $4,449. Ethereum surged almost 50% during October.
Alt season is in the starting blocks, waiting to kick off, and can barely be kept at bay. The big winners last week were the metaverse’s cryptos, gearing up for a real rally. Some metaverse altcoins had impressive gains, with Bloktopia leading the pack at 311%. Decentraland surged 253%, and the Sandbox added 113% to its teller.
Facebook’s Mark Zuckerberg announced a name change for the parent company, which has been revealed as ‘Meta’. Zuckerberg says that he is a strong believer in the metaverse and thinks that AR (Augmented Reality) and VR (Virtual Reality) will be the future. AR is used in a real-world setting, while VR is completely virtual and requires a headset. They employed already many thousand new workers to manufacture AR headsets. The idea behind Meta is to expand beyond social media. Facebook, WhatsApp, and Instagram seem to be keeping their individual brand names under the new Meta umbrella. Oculus on the other hand seems to rebrand as Meta Quest. Zuckerberg can be quoted with “I think we’re basically moving from being Facebook first as a company to being metaverse first”. Meta will help build the metaverse, a place to play and connect in 3D.
Interestingly, not a single word was mentioned using blockchain technology for this endeavor. This move can also be interpreted as diverting attention from the long-standing criticism Facebook is facing regarding privacy, security, and how they control fake news and hate speech.
Coins associated with the metaverse soared left and right after Facebook announced it’s rebranding to Meta, with their mission of ‘bringing the metaverse to life’. In September, Facebook already announced a $50 million investment in metaverse-related initiatives and partnerships. Within 18 hours after Zuckerberg’s announcement, the category’s market cap shot up by 262.9%. Meta is about to spend $10 billion to develop the metaverse division this year. Moreover, some 10,000 people in the European Union will be hired over the next five years, to develop this project.
Today we put the spotlight on three metaverse altcoins that were trending last week in KuCoin, Bloktopia (BLOK), Vulcan Forged PYR (PYR), and Metahero (HERO).
Notice: KuCoin does not provide financial advice. Please do your own risk assessment when deciding how to invest in cryptocurrency and blockchain technology.
Bloktopia is mentioned as the next big game in the metaverse. It is a 21-store building, in recognition of the 21 million Bitcoin supply, and is built on the Polygon blockchain as a decentralized metaverse. Its mission is to become the home of crypto. For the first time ever, users will have access to crypto information and immersive content all in one place. It is possible to earn revenue by owning digital real estate, playing games, and much more. Bloktopia is using the most advanced real-time 3D Creation Engine, allowing for stunning visualizations and user experience.
BLOK is the native and utility token of Bloktopia and is required to purchase or lease all real estate within Bloktopia. During the last 24 hours BLOK was up by 13.58% and during the last 7 days a whopping 311%.
Trade BLOK and 400+ other altcoins on KuCoin
Vulcan Forged PYR (PYR)
Vulcan Forged is a Greco-Roman fantasy metaverse made up of 10,000 plots of land. The platform offers various games to play and runs on both the Ethereum and Polygon blockchains. They offer Instant dApp and NFT creation with NFT auctions, trades, and listings on their marketplace. You can also join a DeFi-loaning program if you hold PYR tokens and fund the operations of game developers for the Vulcan ecosystem via a liquidity pool.
PYR is the native utility token that can be used for staking and P2E earnings. PYR is up 38.88% in the last 24 hours and 118.14% over the last 7 days.
Trade PYR and 400+ other altcoins on KuCoin
Meta wants to accelerate the mass adoption of crypto by bringing in the next 10M users with next-gen 3D technology. It is launched on BSC and combines 3D scanning technology with NFT smart contracts to enable the creation of unique meta-avatars and metaobjects. Metahero has partnered with Wolf Studio to access the best 3D scanners. They introduced Metahero scanners, which are a technological novelty. These scanning chambers will be placed around the world to turn anything into an ultra-realistic NFT, allowing you to monetize them immediately.
HERO is a utility token that gives a user access to the Metahero ecosystem. HERO is up 17.18% in the last 24 hours and 20.59% over the last 7 days.
Trade HERO and 400+ other altcoins on KuCoin
The metaverse is already active, but meanwhile still in the early stages of development. Blockchain technology and cryptocurrencies are in the running to provide their services for the metaverse and are all set up to play an important role in the development. The metaverse is most likely going to generate billions of dollars. Surely, one of the reasons Zuckerberg is investing in it. Other big players like Amazon, Microsoft, or Apple may follow suit. Keep an eye out for updates on the metaverse, it is not the last we heard about it. Being early in the game may turn into an advantage and investing in metaverse altcoins can be the start.
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