Place/Date: - October 20th, 2022 at 3:37 pm UTC · 5 min read
Source: Big Eyes Coin
The “metaverse” has been on everyone’s mind, especially in recent years. But does anyone know what a “metaverse” is? Many things can fit into the term; the one known to many people is a 3D virtual world where people can immerse themselves in a virtual reality headset. However, there are many different variations of this. Games, in general, can be referred to as a “metaverse”, as seen in the world-famous game Fortnite.
The aim is to allow people to live life via these platforms by holding virtual concerts, for example. Newer metaverses like Decentraland (MANA) and The Sandbox (SAND) aim to let users earn money on their platforms via blockchain and NFTs.
However, the analytical tool DappRadar has found that combined, these platforms only have 2,203 active daily users, which doesn’t line up with how much they claim they are worth. Will other cryptos like the new cat-based meme coin Big Eyes Coin (BIG), with their immense ongoing pre-sale, pawsper and pounce over Decentraland and The Sandbox?
Decentraland is a form of play-to-earn metaverse game. It is all built on blockchain technology which allows users to legally own their land within the game in the form of NFTs. It is one of many decentralised autonomous organisations (DAO), giving its community the power to participate in the game’s governance.
The governance token and decentraland’s primary crypto token is the MANA token, an ERC-20 (built on Ethereum). This token allows players to participate in governance. The P2E game also uses LAND NFTs, which allows players to own plots of land on the blockchain, and they can fill this up by purchasing NFTs created by other players.
The metaverse is estimated to be worth upwards of a billion dollars, with a plot of land sold for $2.4 million in 2021. The metaverse’s Twitter team also claimed that it has 8,000 daily users. Still, DappRadar has displayed 1,980 transactions in the past 24 hours insinuating there are only 1,980 daily active users or less if they carry out multiple transactions.
Had the 8,000-figure Dectraland claims been confirmed, it is still a minuscule amount for a metaverse worth upwards of a billion dollars. It bodes the question o whether Decentraland’s grip on the crypto market will loosen and give way or other cryptos to make leaps.
Like Decentraland, The Sandbox (SAND) is a metaverse play-to-earn running on the Ethereum blockchain that allows players to build a virtual world using NFTs. Inspired by the hugely popular game Minecraft, The Sandbox is a decentralised version where players have some form of governance.
Players can also purchase LAND NFTs and build on them with ASSET tokens they can acquire by creating them on GameMaker or purchasing them in the Marketplace. Players can let their creativity shine through their avatars and creations.
Though the concept is great, it’s eerily similar to Dectraland, which doesn’t seem to be doing the best. What is The Sandbox’s status? Like Decentraland, the Sandbox is worth a large sum, an estimated $110 million. However, in the past 24 hours, it has only had 223 transactions in the metaverse. A shocking number makes you wonder if people are playing these blockchain metaverse games anymore.
Big Eyes Coin (BIG) is a new meme coin in its pre-sale stage and has raised a whopping $8.28 million, and this number has been increasing by $100,000s each day. This increase is a step in a completely different direction from the massive decrease in active users Decentraland and The Sandbox.
Unlike other meme coins, Big Eyes Coin is based on a cat and differs significantly from other meme coins on the market. This is a differentiation that is hard to see between Decentraland and The Sandbox, which is why they both deal with low numbers of users simultaneously.
Big Eyes Coin is not only a cryptocurrency; the coin will be releasing special sushi NFTs soon, adding to its appeal. These NFTs may rival those of Decentraland and The Sandbox as Big Eyes Coin has already raised a large sum from its pre-sale, indicating many investors at such an early stage. This is only expected to go up higher day by day.
Big Eyes Coin also provides the fun that the P2E games do with a community full of meme-ers that share jokes. They may also pursue future endeavours that could continue to rival other cryptos.
Decentraland and The Sandbox have had a colossal plummet in their daily users, bringing the longevity of the P2E games into question. Investors may jump ship to the rapidly growing meme coin Big Eye Coin that offers laughs, NFTs and crypto tokens.
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