What are the Fundamentals that Drive Token Value in the Metaverse?
Author — Mark Brown, CMO, RendezVerse
For many seasoned observers outside the crypto NFT space, it can seem bizarre how a small group of people can, in just four years, create a token with a market cap of $6.5B as of today. The top five Metaverse crypto projects have a combined market cap of $17B at the time of writing this article.
According to Yahoo Finance, Metaverse tokens have stormed the top 10 best-performing cryptocurrencies in 2021. [https://uk.finance.yahoo.com/news/metaverse-tokens-storm-top-10-141238864.html]
The adult entertainment industry drove early technical innovation in the web 2.0 era. They had to figure out how to stream content and collect payments whilst operating in different legal frameworks worldwide. They were serving a demand already existing, which made the industry very profitable from the outset.
We see a similar story unfold today in the Web 3.0 Metaverse.
Humans are social animals that love to interact, create, trade and play. Recent years have seen two technologies coming of age and combined to allow people to build exceptional environments and tools to satisfy their core desires.
The crypto Metaverse tokens allow the creation of virtual worlds, games, art and various assets by participants. Tokens allow the efficient exchange of value and governance in a decentralised environment. For example, the leading token by market cap, Axie Infinity (AXS) $6B, operates a play to earn model. Its universe has a player-owned economy where the community can truly own, buy, sell and trade resources with tokens that they have earned.
The Sandbox (SAND) $4B market cap is another universe where the players can have actual ownership of virtual world assets through NFT’s (non-fungible tokens). People can create games and assets in this virtual world and be players and traders on the flip side.
If you wish to see the top Metaverse coins, visit Coingecko: [https://www.coingecko.com/en/categories/metaverse]
The gaming, social and creative sectors have pioneered and delivered immersive and engaging environments for users whilst proving a sustainable economic business model.
History is beginning to rhyme. As commercial business followed the adult entertainment industry in the Web 2.0 era, the same is happening again. Business is now analysing how it can transition some or all of its products and services into the metaverse. Facebook is betting the farm on its leadership in the metaverse, and Microsoft wants to be the default metaverse platform for corporates. Interestingly, the companies have identified remote collaboration as an area of early adoption for a VR experience. Facebook is launching Horizon Workrooms, and Microsoft is rolling out VR for Teams in 2022.
Rendezverse aims to take the concept of remote collaboration and create a metaverse for business to business meetings, conferences and tradeshows. The Rendezverse will be AI-driven to optimise the meeting outcomes for buyers and sellers with market places for suppliers to provide services to attendees. The play to earn model in the gaming metaverse will be replaced with a meet to earn model. The Rendezverse token will allow an ecosystem to flourish. As the number of meetings and events in the Rendezverse increases, so will the value of the finite supply of Rendezverse tokens.
With the drive for Net Zero, travel uncertainty, and the accelerated adoption of remote collaboration by businesses during the pandemic, the demand for a corporate meeting metaverse is already underway.
For further information and whitepaper, visit the Rendezverse website here.
About RendezVerse:
RendezVerse is leveraging Web 3.0 technologies to transform how the business-to-business events industry will operate. Bringing significant time and cost savings, resilience to travel disruption, AI-powered meeting recommendations, and the ability to achieve carbon Net Zero for the events industry, the RendezVerse answers a number of challenges that have plagued the events industry for years.
Social Media Links:
Twitter: https://twitter.com/rendezverseai
Telegram: https://t.me/rendezverse
IG: https://www.instagram.com/rendezverse
Media Contact:
Email: James@gamesta.ai
White Paper: https://docs.google.com/document/d/1e6uxJsHJ9Hy7iEUO-aMspaUMu6WgF_nQlVnZsZkQM-w/edit
