Why be wary of the metaverse hype? Can anyone know how best to invest in this industry? Read in our new LATOKEN review!
Trader Nicholas Merten called the metaverse sector the most promising crypto market direction next year. According to the analyst, altcoins from this sector have been the leaders in terms of profitability over the past few months. Metaverse tokens will be able to show similar dynamics in the coming year, Merten is sure. Is it so? Is it possible to assess the perspective of the metaverse? Let’s try to figure it out. Please read our new LATOKEN review!
What is the metaverse?
The term metaverse first appeared in Neil Stevenson’s 1992 novel “Snow Crash.” With this term, the writer designated the global online space that brings people together through virtual and augmented reality. The last peak in popularity of the metaverse began in July this year when the head of Facebook (now Meta), Mark Zuckerberg, announced a shift in the company’s course towards creating its own metaverse.
Facebook changed its name to Meta in October, which confirmed its intentions. Other large companies have also joined the trend. For example, Microsoft has begun developing a “meta version” of its corporate messenger, Teams, and video game developer Epic Games has announced the development of a metaverse based on its Fortnite game.
Not everything is so trouble-free
The direction of the metaverse is now one of the most interesting and, possibly, promising in the cryptocurrency market. The changes that have taken place with Meta in recent months have triggered a new “hype” in the crypto market, which may not subside for a long time to come.
Many projects are beginning to appear aimed at developing the metaverse sector, but among them, there are already many scammers and simply unpromising products. Only the leaders of this industry have a chance to become a real discovery for investors. In our LATOKEN reviews, we often write about how important it is to do your research and stay up to date to avoid becoming a victim of crypto scams. For the metaverse, it’s worth doing the same thing.
Even with the “hype” around this area, a rather limited circle of people is interested in the already promoted NFT sphere, as well as the metaverses. However, the situation is changing for the better. Do NFT, and metaverse sectors only bring speculative benefits to investors? Time will tell.
As technology for owning unique rights, NFT is an excellent implementation option. Still, there is no regulation of these tokens in the real world, and therefore, it isn’t easy to consider them from a legal point of view as a kind of contract. What about investing in the metaverse? Is this a game or something more? It will be interesting for many crypto enthusiasts to know.
At the moment, metaverse projects are difficult to evaluate from the point of view of investment attractiveness. The main message of the industry now is that it positions itself as the future of the digital world. Is it so? So far, nothing is known, and all that remains is to wait and hope for the best.
Interesting metaverse projects
If you want to make money on the “hype” of the metaverse, you need to be very careful. We want to remind you that LATOKEN does not provide any investment advice. However, the projects supporting this industry might seem promising and quite exciting. Such projects include Ethereum, Solana, Avalanche, Enjin, Sandbox since NFT and gaming products are already being actively released on these blockchains.
Also interesting are the tokens of crypto exchanges that launch their own NFT marketplaces since they are likely to be the first to win in the event of the next wave of popularity of metaverses.
In 2022, many new metaverse blockchain projects will definitely appear, but now it is too early to talk about any separate projects being developed. Following the rapid growth of prices (without the presence of a technological base and real application), these projects can very quickly lose their value.
One leader or more?
One of the big companies might potentially win the race and become the main metaverse. Many crypto enthusiasts believe that, in this case, the project will be built on its own blockchain. However, there are already blockchains on which promising metaverses, for example, Ethereum and Solana, can be created in the future.
In theory, with the right approach, everyone can invest in the metaverse sector. Each new direction that ever appeared on the crypto market brought profit to its participants. However, LATOKEN experts advise carefully weighing the risks since the likelihood of loss of funds is also present. Do your own research, find as much useful information as possible, stay informed, and proceed with caution. In this case, you will be less likely to lose your funds and become a victim of a cryptocurrency scam.
- Ranked #2 worldwide in the startup tokens primary market with 220+ IEO’s since 2017.
- Has over 2 mln registered users, over 1 mln Android app installs.
- Is in the TOP 10 of CoinGecko rank by amount of token pairs and coins listed.
- VCTV, a live streaming panel with high-profile industry leaders, produced over 500 shows to advise traders and investors how to navigate the crypto world with discussions, news updates, and interviews.
- Board of Directors includes former CFOs from JP Morgan and Paypal.
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LATOKEN crypto exchange does not provide any investment, tax, legal, or accounting advice. This article is written for informational purposes only. Like other assets, cryptocurrency is subject to market risk. Please do your own research and trade with caution.