Top crypto trends 2022: A number of trends dominated the crypto sphere in 2021. Non-fungible tokens (NFTs), Defi, and meme coins exploded, and Web 3.0, the next stage in the evolution of the internet, emerged.
As we move forward in 2022, many consider crypto gaming and the metaverse to be the top trends that will shape how the crypto space develops in the coming year.
Top Crypto Trends 2022:
The Metaverse: What It Is and How It Works?
Let’s start with a fundamental definition. The metaverse is essentially a digital universe. It is a virtual environment in which you can work, play, learn, explore new places, socializes, or join a marketplace while creating a digital avatar to represent yourself as you navigate the online space.
Metaverses have been around for a long time as a concept. You may recall or have heard of “Second Life,” a multi-media platform from the early 2000s in which characters spent time in a 3-D virtual world.
The metaverse is a vast virtual arena supported by technologies such as virtual reality (VR), augmented reality (AR), and a creator economy. All of these technologies work together to create a completely immersive digital experience.
Top Gaming and Metaverse Cryptocurrencies
Crypto gaming has grown in popularity in just the last year. Axie Infinity (AXS), Enjin Coin (ENJ), Gala (GALA), Decentraland (MANA), and The Sandbox are among the top cryptocurrencies in 2022. (SAND).
These cryptocurrency gaming coins represent a lucrative world of investment possibilities. Axie Infinity (AXS), a battle game set in the Axie metaverse, is currently priced at $72 and has a market cap of 4.4 billion. Axies is unique ERC-721 NFTs that users battle, whereas Smooth Love Potions (SLP) are ERC20 tokens earned by playing that can be used to generate new Axies. Meanwhile, Axie Infinity Shards (AXS) can be earned through gameplay and content creation, and they allow the holder to stake, play, and vote.
MANA, the coin that powers the Decentraland metaverse, an Ethereum-based platform where you can buy land, build on it, and then monetize the plot, is another major crypto gaming token. The market cap of Decentraland’s ERC-20 MANA token is $5.7 billion. It can be used to purchase avatars, names, wearables, and other in-game items, and it can be burned to obtain LAND tokens, which are one-of-a-kind NFTs.
$SAND, the coin behind the Sandbox play-to-earn metaverse, is another top crypto gaming coin with a $4.5 billion market cap. Plots of virtual real estate can be bought and sold in this blockchain-based digital world. NFTs, which can be integrated into games with the metaverse’s Game Maker, can be used to create and monetize gaming experiences.
The Metaverse’s Benefits and Drawbacks
The expansion of the metaverse has a number of advantages. To begin, as the pandemic has demonstrated, digital environments allow for improved communication in educational and workplace settings. Participants can join from anywhere, creating a more engaging and interactive experience in rich 3-D virtual environments.
Furthermore, in the marketing realm, the metaverse could enable users to view a virtual version of a product in real-time, creating a realistic user experience when testing out a brand. It also offers a virtual economy in which crypto assets with real economic value can be exchanged, thereby creating a new trading space that can be accessed from anywhere.
The metaverse also allows you to connect multiple games and users. In-game assets in the form of NFTs can be easily traded and used across platforms without the need for intermediaries.
Despite all of these benefits, there are some drawbacks. To begin, global access to the metaverse is constrained by technological requirements, which can be expensive, complex, or simply difficult to obtain, such as fast internet and high-end VR headsets.
Then there’s the question of privacy and security, with metaverse and gaming apps collecting user data and posing risks ranging from unwanted advertising to identity fraud.
Finally, virtual worlds have the potential to blur the lines between reality and fantasy. Users can become addicted to a virtual existence and withdraw from their real-life relationships.
Whether you think the metaverse is a good or bad thing, it is undeniably a fertile ground for blockchain innovation, with its support for tokenization, crypto gaming, decentralized finance, and NFTs.
One Project, Many Possibilities
As we transition from an automated crypto arbitrage platform to a full-service crypto ecosystem, we are incorporating a number of the most recent crypto trends here at ArbiSmart.
The listing process began in early January, and our native token is now available on a number of top-tier exchanges. While the current token price is less than $1, it is expected to skyrocket in the coming months as a slew of new utilities is introduced.
This month, we’re launching a decentralized yield farming program with staking rewards of up to 190,000 percent APY plus 0.3 percent of transaction fees. This will be followed by the launch of an NFT marketplace the following quarter. Participants will be able to use RBIS to purchase NFTs, which will certify ownership of a collection of 10,000 digital items. Later in Q2, we will also launch an interest-generating wallet for FIAT and crypto, which will provide secure storage and annual interest rates of up to 45 percent.
We will also launch a mobile application for purchasing, storing, and exchanging digital assets, a crypto exchange, and a launchpad for promising crypto assets in the second half of 2022 and into 2023.
Visit the ArbiSmart blog to learn more about various crypto trends and asset types. Buy RBIS now to get in on the ground floor of our expanding project.