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The Metaverse Cryptos: A Personal View of the Market
I spent hours exploring this virtual world and frankly, I find that the cryptocurrency market of the metaverse is a real chaos! When I look at the current figures, I see SAND ( The Sandbox ) which is lagging at $0.26 with a small rise of 1.96%. Is this really the promised revolution?
FLOKI is slightly up by 2.47%, but let's be honest, we're talking about a token at 0.00008$! How can we take this seriously? The market cap of 790 million is impressive for a project with so little real utility.
Axie Infinity (AXS) shows +4.88% today. After exploding in 2021, this play-to-earn game has fallen into oblivion - evidenced by its current price of $2.17. I personally lost money on it and I deeply regret believing in this promise.
Decentraland (MANA) at $0.28 makes me laugh - I recently stepped into it and it was a desert! How to justify 565 million capitalization for empty virtual land?
Tokens like ILV (Illuvium) at $12.77 seem to hold, but for how long? The total trading volume of the sector is 45 billion rubles (+51.14%), but the total market capitalization is down by 2.86%.
Seriously, are these metaverse projects anything more than empty shells for speculators? Major exchange platforms continue to promote them, but who is actually using them? One day of glory, ten years of oblivion...