The last few months have been hell for crypto investors. Bitcoin (BTC) is back to $6k while most altcoins are down by over 90%. But even in these tough times, there is one coin that seems to have braved the bear, and come out victorious. That crypto is none other than Metaverse (ETP). The value of the Metaverse token has pushed up by over 400% since late June. Looking at the charts, Metaverse is definitely not a pump and dump. It has had a stable rise, with a chart that pretty much mirrors that of a stable stock. There are no random spikes in price, as can be seen in the chart below.
So what exactly is Metaverse and what makes it tick? As per their website, Metaverse is a platform that aims to provide digital identities through the blockchain. To understand the whole issue of digital identity, one needs to look at online profiles such as those on social media. When you create a Facebook profile (just an example), Facebook reserves the right to close your account and delete your profile.
The same goes for any other platform out there. YouTube has in the past removed the profiles of many YouTubers, and all their content and online identities deleted. But having such power in the hands of centralized entities is risky! Your identity is yours, and you deserve to own it, and that’s why Metaverse is such a valuable asset in this space. The whole idea of digital identities will become even more important as more people establish their lives online, lives that have real implications in the physical world.
But Metaverse (ETP) is much more than digital identities. It is also designed to allow for digital asset registration. This gives it a huge use-case especially in the music industry. There are lots of musicians who don’t make money from their creativity, simply because their digital content is stolen and misused. However, with a platform like Metaverse, it is possible to actually own that content by registering it digitally, and own it just like you would own a physical asset.
On top of that, Metaverse also has a decentralized exchange where the Metaverse (ETP) tokens can be exchanged for any other coin. This not only gives ETP value by virtue of being the coin used in this exchange, but also because it makes it a very liquid asset.
The best part about Metaverse is probably the fact that it has a low coin supply. While most tokens are in the billions, which negatively impacts on their valuations, Metaverse has a total supply of only 56 million tokens, and a maximum supply of 100 million. This low coin supply means that it has room to appreciate fast, as demand grows.
While no one can accurately predict the direction of a financial asset, especially in crypto, Metaverse (ETP) comes across as a crypto that has the fundamentals to grow by an even higher margin as its user-base grow. It’s one of the cryptos that value-investors may find interesting.