We're talking [Mark] about the Metaverse.
Since the rebranding of Facebook to Meta,
some Metaverse tokens in the
cryptocurrency industry have made
astronomical gains, including
Decentraland and Sandbox, which both did a
And this is stunning for tokens with
$1 Billion plus market caps,
to do in such a short period of time.
And it makes me wonder, what other gains
could be made within the
the Metaverse cryptocurrency trend.
So let's cover
for investments in the Metaverse.
because these tokens that I'm gonna to talk about today
have small market caps compared to projects
like Sandbox and Decentraland.
So there are bigger risks of downside volatility.
And that being said, there is also a potential to
earn big by getting into these ecosystems before
they're big.
- You should get lost.
- I was here first.
Get a roof.
So let's go ahead and dive in.
The first one on the list is the $UFO token.
The token went from being a microcap
this summer to now having a market cap
of over half a billion dollars,
as of the making of this video.
UFO stands apart from other Metaverse tokens
in that they are building what they call
a "Dark Metaverse".
- So dark. You sure you’re not from the DC Universe?
Essentially, each game in the UFO Metaverse
will be its own planet.
You can think of the UFO Metaverse
as its own ever expanding universe,
just like the one we live in in real life,
meaning you can now experience
existential dread from the safety
of your own computer.
- What is my purpose?
- You pass butter.
- Oh, my god.
- Yeah, welcome to the club pal.
Right now, UFO gaming has
only a single playable game
called Super Galactic,
with plans to release more.
But something that really caught my attention
when learning about UFO is
their dedication to being a genuine,
decentralized, autonomous organization,
also known as a DAO.
Now this word is tossed around
haphazardly in the cryptocurrency industry.
- No!
- Can we not?
There are many examples of companies which
market themselves as a DAO,
but the fact of the matter is often a large
portion of the tokens are owned either by
team members or venture capitalists.
UFO does not have any
team members or VCs that
hold a large sum of the treasury.
The founder of the $UFO Token even burnt
50% of his total supply after launch.
And these are the kinds of things that I like to see
when I'm looking at Metaverse
and gaming tokens because
it shows that the team actually cares about the
player experience,
because we want to think long term.
Holders of the $UFO token will be part of
the UFO governance, and they'll be able to
vote on community decisions
for The Dark Metaverse.
The largest holders will have
DAO voting rights for the entire
Metaverse direction.
Now another really cool thing I learned about UFO
is that they'll be a multi-chain
platform, meaning they'll accommodate holders
of various coins, including ADA, MATIC, SOL, AVAX,
and many more.
And I think this is incredible because a
barrier to adoption for many Metaverses and
play-to-earn games, is the limitation of
being on a single blockchain.
So this is a very promising future.
On top of that, UFO is making big moves
within the gaming industry.
One of the biggest companies in the entire gaming industry,
Gamestop, you probably heard of them, covered a recent
eSports competition sponsored
by UFO Gaming in their
blog, which gave away $10,000 in prizes.
The fact that UFO is gaining attention
of gaming industry giants like GameStop
is really impressive.
Plus, the hype power around GameStop
probably won't hurt the $UFO token either.
So I'm really looking forward to seeing
how this company continues to grow
and I just can't wait to see more games
being released.
But of course this project is still small, so
Nothing is guaranteed in this space,
except of course, that you can still get up to
$250 in free Bitcoin,
when you open your account with BlockFi.
Through BlockFi, you can earn interest on your cryptos
and get a Bitcoin credit card that
pays you rewards in Bitcoin
that will be linked down in the description.
Also side note, I don't own any of the
tokens in this list,
as of the recording of this video
or the posting of this video
and there are no sponsorships of
any of these coins.
Next on this list we have $PYR,
which is the governance token for the
Vulcan Forged gaming platform.
If you know my videos, you know I like gaming platforms.
Vulcan Forged went from being only a tiny
NFT platform to a bona fide
game studio with a top trending NFT marketplace,
thousands of users, over 10 dApps and
millions in trading volume.
Vulcan Forged is building a product
which, for the most part, is
unseen in the crypto gaming industry so far.
Well Axie Infinity, for example, is the
is the top gaming/metaverse
cryptocurrency in the world,
and it's only one single game.
But Vulcan Forged itself
is a game studio with multiple games
within the PYR ecosystem
that allow players to play to earn.
Now there are many ways to earn within the
Vulcan Forged ecosystem,
through staking assets like the $PYR Token
or NFTs, which can come in the form of
in-game land or items.
any of the variety of games
offered by Vulcan Forged.
Now, one thing that impressed me while learning
a little bit more about this project is
its tokenomics.
Vulcan Forged is allocating 10% of their
total supply for the next 24 months
to a play-to-earn pool for rewards.
While playing games in Vulcan Forged,
users receive lava crystals for rewards.
This is an off-chain, in-game currency
which is linked to the user's wallet.
This means that lava crystals can't be
traded on an exchange,
but the more lava crystals users
stack up, the more PYR airdrops
they're eligible to receive each month.
And as we can see here on
page 10 of their white paper,
we can learn a little bit more about how you receive
these lava crystals.
You can get them by winning matches
in Vulcan Forged games,
exploring the world, trading,
and many more ways.
As of now, the most ambitious game created
by Vulcan Forged is called VulcanVerse.
Here you can own plots of land like in Decentraland,
explore an open fantasy world like Skyrim
and play to earn like Axie Infinity.
And speaking of Axie Infinity,
the fact that it has more than a
20 times larger market cap than
PYR, but arguably it's
slightly less ambitious in scope
shows potential for
a sizable amount of gains for the $PYR token.
However, there's a downside.
Vulcan Forge is still building,
and it's not yet seen mass adoption
within the play-to-earn just yet.
So no matter how good the project looks,
there's always the chance that something goes wrong
and it ends up being a total flop.
That's why there's far more risk
and potentially more reward in these tiny projects.
- With great power, comes great responsibility.
That being said, many of the games
on the Vulcan Forged ecosystem
are already playable,
and considering some cryptocurrencies have a
market cap of $250 million
without even a single working product,
shows a lot of promise for growth within this platform.
Now let's move on.
Next on our list is Merit Circle.
Now this one diverges a little bit from the
first two tokens we discussed today
in that it's not a game.
Instead, Merit Circle fills a much needed
void in the play-to-earn industry.
Often, people can't afford
to get involved in games like
Axie Infinity, unless they get in early
because the upfront investment is so high.
That's a huge barrier to entry
for mass adoption for play-to-earn gaming.
And while $500, for example,
doesn't sound like a whole lot of money to someone
who's already invested in cryptos,
but the fact is most normies
would never pay that much to play a game.
I mean, that's basically the cost of a PS4.
Let's be honest with ourselves.
- It's not about money
It's about sending a message.
But this is why I'm so excited
about this project.
Kids and teenagers play more video games
than the average adult.
However, most people under the age of 16
don't have much money,
and this is where Merit Circle comes in.
On top of a fascinating value proposition.
Merit Circle has already partnered with
blue chips in the P2E industry
including Illuvium, and even Axie Infinity,
which we covered in previous videos.
Both of those will be linked down in the description.
Now, while I'm excited about the future of this company,
there are some downside risks.
We're looking here at a project
that just launched this month.
So it's very, very new.
Regardless of their partnerships and explosive
price gains, new projects can
dump harder than any other altcoins out there.
So you need to be careful.
And finally, there is the possibility that this company
just simply doesn't succeed
and their technology or product doesn't
receive adoption.
No one has ever achieved what
Merit Circle is setting out to do,
and I appreciate an ambitious project.
- Fine,
I'll do it myself.
That being said, this is a token
I plan to keep an eye on.
Next on our list is $RMRK.
They are an NFT Metaverse built
on the Kusama blockchain.
Kusama is the Canary or
test network for Polkadot,
which is working with more edgy
and experimental projects.
The founder of RMRK was inspired
by the NFT movement and
wanted to capture this kind of edgy spirit
that encompasses the Kusama Blockchain visually.
But there's more of these NFTs than the look.
RMRK is kind of like the Avant-garde of NFTs.
Unlike most NFTs that are built
on the Ethereum virtual machine, which you can
find on OpenSea,
RMRK NFTs are built
to change and adapt based on their
interaction from real people
within the Metaverse.
I know it gets a little bit funky.
On the Kanaria collection, which is a
collection made from the RMRK protocol,
you can react to the NFT with an emoji,
and then from there, the owner of the NFT
has an option to change the NFT
based on the reaction that the art
is receiving.
So features like this give RMRK
the functionality to change over time, which
adds this layer of gamification
and personality to NFTs.
It's almost like it's a living organism,
based on the reaction from crowds.
It's really interesting.
Then here I noticed something I've never
crossed before.
They are actually NFTs within NFTs.
When scrolling through the catalog on (kanaria.rmrk.app),
NFTs can even own
other NFTs, which can be integrated
into the original Kanaria NFTs.
I see some birds with wizard staffs,
others with saxophones,
and even backgrounds that are NFTs themselves,
which can all be added.
The founder of RMRK said,
And frankly, I'm surprised that this project
isn't making more noise within the
NFT world just yet.
However, one thing I did notice
is the protocol is so big in scope
that it's a little bit overwhelming.
I feel like I don't totally understand
completely just because the scope is so massive,
and it's a concern of mine that
potential new users could be turned off
from the project before they actually
understand it.
Now, the CEO did say recently in an interview
that they are working on this limitation to make
the platform easier to understand
for newcomers, but it's one thing to keep an eye on.
Overall, this is an exciting project
that could do big things.
But of course,
Now, last on the list, but certainly not least,
is a Metaverse token called Aavegotchi.
I have such good memories growing up,
playing with Tamagotchis.
I had like three of them that I would just
lay out on my desk and like,
you know, feed them, and clean up all the...
Embarrassing story.
When I was in second grade,
so like seven or eight years old,
my girlfriend broke up with me,
and I was all sad about it,
and my mum got me a yellow Tamagotchi
and that thing was the bomb.
[Laughs] So, anyways, Aavegotchi is like
Tamagotchi, except add in
state of the art DeFi and NFT technology.
Each virtual pet or Aavegotchi
is an ERC- 721 Non-fungible token.
You can see here on the marketplace
that each Aavegotchi has a
cryptocurrency staked inside of it.
The Aavegotchi NFTs are powered by
tokens staked through the
Aave DeFi lending protocol.
So you can see here a list of
Aave interest bearing tokens.
The type of interest that can be
earned on your Aavegotchi is determined by
which token is staked
inside of your Aavegotchi.
In order to get these tokens, you need to
deposit your desired token inside aave.com
Now I know this is a bit confusing, so let's do an example.
Let's say you wanted an Aavegotchi that
earns you yield on Chainlink,
You would then need to deposit Chainlink
inside of aave.com
After you deposit your LINK tokens inside of Aave,
you'll recieve aLink tokens
which you can then stake inside of your Aavegotchi.
Owners of Aavegotchi will also be able to use their
Aavegotchis to compete in minigames.
What caught my interest further in this project is
they've made partnerships with a few high profile companies,
including a newly launched Hedge fund
named BlackPool, which specializes
in NFTS and Yield Guild games.
I'm excited about the future of Aavegotchi
because the use case
is really fascinating here.
It puts a fun spin to DeFi
and then adds in that utility of NFTs.
But that being said, be careful buying tokens
which have lower market caps,
because again, there's so much downside risk here.
If you're okay with the risk and can
accept the potential loss of
you know, hard earned money,
I think Aavegotchi is one of the
better Metaverse token investments that
could be made right now.
Of course, do your own research always.
So there you have it.
These are five Metaverse tokens which
I am really excited about.
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