The world of crypto is a fascinating place where something envisioned initially might not fall through in the end. By every account, this is not a bad thing, as tech startups constantly alter their development based on upcoming threats and opportunities.
Facebook started as a social network only to later become a hub for advertising and spreading misinformation. A similar picture can be seen in the crypto terrain, where projects like ApeCoin and Axie Infinity have outgrown their original use case and ushered into a new stage of evolution.
Whether this happened organically or not, we will see in today’s article, but one thing remains adamant: adapting to a new environment is crucial to survival. However, the question remains, can Big Eyes Coin follow in their footsteps, or is it better off with its current value proposition? This is what we are going to find out.
Axie Infinity was one of the first blockchain games to resonate with the crypto folk on a mass scale. Needless to say that even amid the growing bear market, it was able to record a whopping $4 billion in all-time NFT sales this February.
But what made it such a success, and why adjustment became one of the most vital traits this company has shown throughout the years?
Originally, Axie Infinity was a very straightforward play-to-earn game, where players, in a pokemon style mode, were battling one another using little creatures called Axies. The format worked, but soon Axie Infinity faced fierce competition from other emerging blockchain games like Decentraland and The Sandbox.
To stay afloat, the company began implementing changes like enabling staking options for the platform’s native token AXS and migrating to a Ronin network, making transactions cheaper and faster.
As a result, Axie Infinity still dominates the GameFi market, with further plans to create a vast ecosystem, counting a social network and an NFT marketplace. As it stands, the world of Axie Infinity is growing stronger, thanks to the timely changes implemented by the core team.
ApeCoin is an intriguing example of how a project’s value can be boosted by combining the existing brand and community support to render a product that appeals beyond its initial audience. The ApeCoin represents the Ethereum-based ERC-20 token made initially for the holders of Bored Ape Yacht Club (BAYC) NFTs.
However, since its inception, it did not only deviate from the BAYC ecosystem by forming an ApeCoin DAO but also became the primary medium of exchange within the upcoming Otherside metaverse game, the NFT community and a payment method for a venerable fashion house of Gucci.
Indeed, despite the fact that the token’s original design was made to facilitate the governance of ApeCoin DAO, its utility side surprisingly became more attractive to investors outside the community of bored ape-looking individuals. Instead of pushing for the APE token to be the centre of the BAYC community, the ApeCoin DAO embraced these new developments, reaching a much wider audience as a result.
Big Eyes Coin is the newest addition to the family of meme tokens, which since the first day, started to do things differently. For starters, instead of adhering to the established trend of dog-themed meme coins, its aesthetic outlook was chosen to be a cute Japanese-looking cat.
Considering that more than 100 million people worldwide watch anime, it seems that the company made the right choice to appeal to a broader audience. According to the project’s White Paper, the Big Eyes Coin ecosystem will include NFTs, DeFi services and exclusive events for the holders of the platform’s native token, BIG. However, there is no mention of any metaverse development whatsoever.
While the project is still going through a presale and amassing more than $8 million in the bank at the time of writing, we can speculate if Web 3.0 will indeed be its next destination. Judging by the aforementioned examples of ApeCoin and Axie Infinity, the crypto world is ruthless and dictates its own rules, regardless of a project’s success.
Indeed, if we look at the case of Axie Infinity, it started as a metaverse game, only to develop into an NFT marketplace with a pinch of DeFi staking services to maintain its leading position. Applying the same principle to Big Eyes Coin but in reverse gives us a perspective where this project will eventually need to develop a metaverse, as the services mentioned above would not suffice the fastidious crypto crowd.
Always conduct proper research when dealing with pre-sales of currencies and tokens. The information above does not constitute investment advice by CryptoMode or its team, nor does it reflect the views of the website or its staff.
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