The crypto industry is innovating at lightning speed. This makes it hard for investors and tech enthusiasts to follow current trends. The focus has shifted to Web3 and the metaverse, and many people are still wondering what those are.
The metaverse concept is still new and maybe far from being complete. This also makes it a great time to invest in projects building the future of technology. FIREPIN (FRPN), Enjin Coin (ENJ), and Decentraland (MANA) are metaverse projects to watch in 2022.
What is the Metaverse?
The term “metaverse” was coined in 1992 by the science fiction author Neal Stephenson in a novel named Snow Crash. The metaverse is not a new concept. However, the present technologies have laid the ground for experts to further explore the metaverse. The metaverse represents a shift in interaction with technology. The metaverse is a concept that the internet, through the use of advanced technologies such as virtual reality and augmented reality, connects people socially in a virtual world. It runs in parallel with the real world.
As the crypto space utilises non-fungible tokens and play-to-earn gaming models, many developers are venturing into the metaverse. There is a mix of new and existing projects that are building credible metaverse products. These projects are worth knowing as they could be the next killer apps in crypto.
Decentraland is a virtual reality platform built on the Ethereum blockchain. It allows users to monetize their content and applications. The earning model is what attracts users to this platform. Decentraland launched in 2017 after successfully raising $24 million in an initial coin offering.
In the virtual space, users can buy plots of land that can be treated in the same way that people treat their real estate. The virtual land can be monetised or built upon. MANA is an ERC20 token that is burned by holders to mint the non-fungible LAND token.
Enjin Coin (ENJ)
Enjin Coin is a project created by Enjin, a company that develops blockchain-based gaming products. The company’s major offering is the Enjin network, a social gaming platform that enables users to create game-oriented apps, websites, and virtual stores. This allows game developers to monetize their in-game assets on the Ethereum blockchain. The project’s native token is ENJ.
FIREPIN (FRPN Token)
FIREPIN is a metaverse project that marries the exciting concept of NFTs, DeFi, and blockchain-based gaming. These concepts are siloed yet the potential of bundling them together could be a game-changer for the industry and the future.
This is what FIREPIN is working on. NFT gaming is expected to attract many gamers due to its transparent and sustainable incentive model that cannot be found in traditional gaming. The ability to play games and earn is a dream for many gamers. Thanks to FIREPIN and projects such as Axie Infinity, this can be possible.
As a metaverse project, FIREPIN wants to connect people, information, and even locations. There will be no limits to what can be achieved and FIREPIN’s native FRPN token can be used to fuel the transactions within its metaverse. It will use virtual reality, augmented reality, and virtual worlds to build its version of the metaverse. The main idea behind the project is decentralised autonomy. The Metaverse DAO will be responsible for proposing new ideas and how to execute them.
Instead of a single central authority, the Metaverse DAO will rely on FRPN token holders to make decisions. The FRPN tokens can be bought at a discount price during the ongoing presale or investors can wait until the price skyrockets after listing on centralised and decentralised exchanges. The more FRPN tokens an investor has, the more they can influence the decisions to be made by Metaverse DAO. FIREPIN plans to build a game studio and an NFT marketplace in its ambitious plan to be the premier metaverse in the future.
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