Cryptocurrency is an exponentially growing sector, mainly due to its ever-changing environment and innovations. Metaworlds and digital universes seem to be the next big step for cryptocurrency. Three new dimensions we are considering today are HUH Token, Decentraland MANA, and Axie Infinity.
From genetic NFTs in Axie Infinity to virtual real estate in Decentraland (MANA). Creating a world of opportunities inside an already established market is forming a new culture in the cryptosphere.
Axie Infinity is a game that involves trading and battling on the blockchain. The system was inspired by games like Tamagotchi and Pokémon, allowing the players of this game to trade, battle, raise, breed, and collect cute token-creatures called Axies. They can come in multiple types and even more interchangeable body parts. These parts come in different rarities- from common to legendary. This gives a large range of variability and potential uniqueness for each creature.
The Axies are all non-fungible tokens (NFTs) that can be sold and traded on a market. Some players in Vietnam have even managed to earn enough money from this game to purchase a house.
Speaking of property, the recently rebranded Decentraland MANA is a digital reality platform that is powered on the Ethereum blockchain. Users on this game can play, monetize and even create unique experiences for other players. The game functions by allowing the players to purchase land, they can then use in-game assets to populate their land in any way they desire. After they have done this they can then monetize and charge people to enter the world for a fee or even sell the land back.
The “Metaverse” is separated into over 90,000 areas. The token used inside the game to designate and supply these areas is called LAND. Each square is sixteen by sixteen meters in size and is allocated its specific coordinates. The second token used, known as MANA, is how the world is governed, giving those with more MANA being able to control the political climate.
This cryptocurrency garnered a lot of attention when Facebook recently announced its own rebrand into the Metaverse.
It caused MANA to hit its highest value of $4.16 on 30th of October. Currently, according to coinmarketcap.com, it is sitting at about $2.60 as the initial excitement starts to die down.
However, this rebrand could be causing more of a cultural shift which will lead to cryptocurrencies like Decentraland and Axie Infinity into the limelight. Another new cryptocurrency that has announced its release is HUH Token. It’s not released its roadmap as of yet but there are rumors about the direction it wants to go in.
HUH Token is poised to launch on December 6th and is set to capitalize on the festive frenzy of the crypto market boom. The concepts it has involved itself in seem similar to the community-led ideas that Decentraland and Axie Infinity try to adopt.
One of these concepts is HUH Token’s referral system, it is an innovative and novel approach to fostering generational wealth. It allows customers to earn two separate streams of independent revenue. The referral scheme will give an owner of the coin a code which they can then pass on to someone else, who can then purchase HUH Tokens at a reduced tax cost. Ten percent of that purchase will then go into the wallet of the person who referred, as BNB. This chain can then proliferate as the new owner will gain a referral code they can pass on.
As you can see, this self-named ‘Utimeme’ has some incredible prospects with the opportunity to start a real moon shot, with a culture of giving, and metaverse of potential. Being both a utility and a meme coin could be the next big innovation in the cryptosphere. They are not alone in this fight however, they will be going to war with big names like Dogecoin, Shiba Inu, and the pack of other Inu coins out there.
Regardless of the competition, the ever-changing world of cryptocurrency allows it to adapt and overcome most obstacles. The more directions and new coins like HUH Token get released, the more diversified and stable the decentralized financial world becomes and that can only be described as a positive net movement.
Story by Shahid Ayub
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