Can Xchange Monster (MXCH) follow in the footsteps of Decentraland (MANA) and The Sandbox (SAND)?
Can Xchange Monster (MXCH) follow in the footsteps of Decentraland (MANA) and The Sandbox (SAND)?
Alongside the rise of the cryptocurrency industry in the past couple of years, several sectors of the digital asset industry have continued to grow at exponential rates, including both the DeFi (Decentralised finance) sector and GameFi sector.
According to a DappRadar and Blockchain Game Alliance report from the first quarter of 2022, the blockchain gaming industry has undergone major growth as the space grew 2,000% in the past year.
This particular report added that there were investments of $2.5 billion for the blockchain gaming space last quarter, which is compared to an investment of up to $4 billion for the sector across all of 2021.
A16z, a venture capital fund that invests in crypto and web3 startups, and Dapper Labs, a blockchain company specializing in making video games, invested $1.3B into both GameFi and metaverse technologies.
This demonstrated the interest that venture capital firms have in both in GameFi and Metaverse.
The likes of Xchange Monster (MXCH) is a new GameFi platform that aims to make a splash in the industry and to have a lasting impact in the crypto gaming space, like other major platforms such as Decentraland (MANA) and The Sandbox (SAND).
What is Xchange Monster (MXCH) and why is it valuable?
The Xchange Monster (MXCH) ecosystem offers a decentralized payment gateway and an exchange platform for users.
The native token of Xchange Monster* is MXCH which offers several use cases for its community, such as
- Multi-asset crypto trading and
- Multi-chain crypto wallet where users will be able to store fiat currency and cryptocurrency in the Xchange Monster wallet that is already integrated into the exchange.
- The Xchange Monster exchange also allows its customers to trade cryptocurrencies or digital assets such as digital currencies and conventional fiat money.
* Xchange Monster’s membership with VFQ (a financial services standards association recognized by Swiss regulators FINMA (The Swiss Financial Market Supervisory Authority)is meant to make its users to feel safe when using the platform
Is Decentraland (MANA) on the rise this year?
Like many other cryptocurrencies in the market, Decentraland (MANA) suffered greatly in the recent crash. However, Decentraland has bounced back of late, rising over 2% in the past 24 hours.
As a 3D virtual world browser-based platform, Decentraland remains the biggest metaverse token in the cryptocurrency industry, ahead of the likes of ApeCoin (APE) and Theta Network (THETA).
Our forecast is that MANA will reach a max price of $1.25 by the end of this year.
The Sandbox (SAND) begins to recover in the crypto market
As the fourth-biggest metaverse cryptocurrency in the world, The Sandbox (SAND) undoubtedly has had a massive impact on the world of metaverse gaming.
Despite a 20% drop in the past 30 days, SAND managed to bounce back from its poor market form to rise 22% in the past 5 days.
Built on the Ethereum blockchain, The Sandbox is a virtual world where players can build, own, and monetize their gaming experiences.
SAND is expected to reach a max price of $1.61 by the end of 2022.