Cryptocurrencies are immensely popular and many countries are passing laws that support the growth of the industry. Embrace and other cryptos like Dash 2 Trade, IMPT, Calvaria and Tamadoge have been catching people’s attention of late.
The Special Administrative Region has recently passed a bill to establish a legal order to accept digital currencies as a means of exchange. However, it would allow China to monitor Chinese nationals visiting Macau; the largest cryptocurrency by market capitalization is currently trading above $19.5K.
The logical conclusion of all of this is Macau’s embrace of China’s digital currency. Macau’s currency isn’t widely used, even at home, mainly because it pegs the Hong Kong dollar to the Macanese pataca at a 1:1 ratio, with the HKD being the preferred currency on casino floors.
There is precedent for using a “foreign” currency for gambling, so embracing a version of China’s digital currency in the territory isn’t much of a leap. The use of digital currency as a monitoring tool
And it provides Beijing bureaucrats and law enforcement with much more coarse insight into the gambling industry while avoiding Macau’s rigid privacy laws. Beijing understands that eliminating the gambling industry in Macau would devastate the local economy, so it is better off controlling it through its central bank digital currency.
Foreign nationals may continue to use cash, but Chinese nationals must use this digital currency to continue entering casinos. Macau stands to lose nothing. The territory generated more gambling revenue than Las Vegas when China was at its peak. However, COVID-19 changed everything.
Macau’s casinos are expected to earn $680 million in revenue in October, the busiest month due to China’s Golden Week holiday.
In contrast, the most recent data from Nevada show that Vegas earned just over $1 billion in revenue in August, with the Las Vegas Strip reporting a 5% increase yearly.
In the process of embracing Digital Currency, here are 5 alternative currencies.
- APE COIN
Dash 2 Trade
Dash 2 Trade is one of the most significant introductions to the cryptocurrency market. The platform was designed to be useful to all traders, regardless of their industry.
The Dash 2 Trade ecosystem revolves around the D2T native ERC-20 coin. D2T, like many great ERC-20 tokens, has inherent utility, making it an essential component of Dash 2 Trade.
D2T is a tax-free token that helps to power an informed data analytics platform. Its goal is to provide critical market insights to crypto investors and assist them in developing more effective strategies.
Using D2T, traders can examine and pinpoint the fundamental factors influencing cryptocurrency prices, allowing them to make more informed trading decisions.
The Dash 2 Trade cryptocurrency is expected to be one of the most popular in 2022 and beyond due to its cutting-edge crypto analytics capabilities.
D2T has many characteristics that will help it establish itself as one of the most intriguing tokens. In comparison to other cryptocurrency platforms, the project provides a very distinct utility.
IMPT is an eco-friendly cryptocurrency that has recently entered the crypto market. By tokenizing carbon credits, it hopes to assist businesses and individuals in reducing their carbon footprint. Imagine being rewarded for attempting to save the planet; IMPT makes this possible! You will be rewarded for lowering your carbon footprint if you join the Impt family.
After completing a successful presale, IMPT has surpassed many older projects. With its massive and successful presale, the project has piqued the interest of investors. Aside from a good ROI, investors see IMPT as a way to contribute to environmental preservation.
Users of IMPT can purchase NFT-based carbon credits that, when redeemed, equal one ton of carbon offset. Carbon credit purchases or reward programs are available at over 10,000 different retailers. According to the IMPT whitepaper, the organization plans to launch a social media platform where people can demonstrate their environmental impact using IMPT points.
Furthermore, all IMPT platform participants can purchase carbon credits when shopping in-store (tokenized). This is because carbon credits are displayed as NFTs in decentralized ledgers for transparency, so users can easily trace and monitor them.
Many cryptocurrency enthusiasts are only interested in a cryptocurrency if they can identify its uniqueness and outstanding characteristics. Interestingly, Calvaria has proven to be worthy of the attention it is receiving from the crypto community.
The Free-to-Play model is an appealing force because it serves as an educational platform for non-crypto users. Even more intriguing is the fact that the Calvaria team is working on integrating games into the Free-to-Play system. Non-crypto users will be better prepared for the games available in the Play-to-Earn version as a result of this.
Calvaria also includes a card game called “Duels of Eternity,” which allows players to win tournaments by employing strategies that correspond to the card character. The unique feature of this card game is how players control the in-game resources.
The card games are divided into categories based on the abilities and preferences of the players.
Players who use the Free-to-Play version can also play the game without investing or staking any money.
The game dashboard, on the other hand, informs them of the advanced features available on the P2E version, as well as the increased earning potential. This includes the prices of NFT games as well as the value of each asset.
However, the Duels of Eternity is not yet fully operational, but interested parties can play two live mini-games.
Tamadoge is a crypto play-to-earn gaming platform that features Tamadoge pets that can be minted as Non-Fungible-Tokens (NFTs) in Augmented Reality.
TAMA acts as the Tamadoge gateway token. It was recently listed on OKX, a platform for Decentralized Exchange (DEX). TAMA holders will look for market activity after the token is listed on OKX.
Surprisingly, the TAMA tokens market activity has been impressive, and users are yet to spot any indication of an investment that will turn out to be a dud.
According to CoinMarketCap, one TAMA token is currently trading for an impressive $0.12, with significant chances of an increase in its value.
The Polkadot project is a novel cryptocurrency that enables a heterogeneous multi-chain framework. While most cryptocurrencies strive for scalability, speed, and decentralization, only a few, including Polkadot, successfully combine these three characteristics. Furthermore, few cryptocurrencies have achieved the interoperability that Polkadot seeks.
Polkadot connects blockchains, allowing users of various cryptocurrencies to communicate efficiently. Surprisingly, users can also exchange actual data via various blockchains. It also assists developers and technicians in creating a new network on the Polkadot blockchain.
Polkadot works via the relay chain, which is why the blockchain can support an extensive network of participants. Despite its high connectivity, Polkadot consumes little energy due to its Proof of Stake mechanism. Even though the price of cryptocurrencies has dropped dramatically, Polkadot has not exceeded the 1% price shortage.
The Chainlink platform’s token, known as LINK, is based on the ERC-20 standard. This platform is a great crypto oracle allowing off-chain and on-chain connections without interfering with the user’s data.
Although the currency has failed to pique the curiosity of many investors, expert projections should not be taken for granted. The currency has earned over $75 billion in revenue and has successfully connected over 800 oracles. Chain Link might hit $215 or more by the end of 2022. The current price of this currency is the optimum moment to invest in it.
The Apecoin is linked with the Bored Ape Yacht Club NFT, contributing significantly to the coin’s massive fan following. ApeCoin will also introduce several solutions to aid in the advancement of Web3. As a result, it is a popular asset among crypto traders interested in the Web3 market plan.
Despite the fact that ApeCoin was only created in the first quarter of 2022, it has a larger community than numerous older cryptocurrencies. ApeCoin now has 384.2k Twitter followers as of this writing. APE is best described as a token utilized in the ApeCoin ecosystem.
With the APE token, non-ApeCoin developers can implement cryptocurrencies in their games and services. The token gives users access to events, merchandise, and other premium services. Users can also enjoy entertaining tasks like arts and storytelling.
Currently, the all-time high value of ApeCoin is $5.34, as listed on CoinMarketCap. It also has a maximum circulating supply of 310 million, which helps to stabilize the market’s supply and demand ratio. Investors can anticipate more projects from this metaverse, with an increased means of generating more trading profit.
It is no news that various cryptocurrencies are at Macau’s disposal if they successfully pass the bill to legalize digital currencies. If it happens this way, emerging coins like IMPT and Tamadoge are good alternative coins the region can adopt.