With the metaverse being the talk of the town for the past year, it’s only normal to see more and more cryptocurrencies inspired by the virtual world.
The success of Decentraland (LAND) and Axie Infinity (AXS) inspired a generation of metaverse-based cryptocurrencies with Autometa Coin (ATA) a by-product of the aforementioned projects.
Autometa will be attempting to have a similar impact on the crypto market as its predecessors.
The journey of Autometa Coin (ATA)
As a play-to-earn (P2E) action role-playing game, the game will allow users to own parts of the game.
Founded on a decentralised exchange, Autometa’s concept is a mixture of League of Legends with a play-to-earn twist with the role-playing game set in the Cyberpunk universe.
With Autometa’s native ATA token being used as in-game currency, holders will earn additional ATA tokens just by holding with the tokens automatically being added to their BEP-20 wallet.
ATA can be used for the purchasing of virtual items and Autometa has created an internal decentralised exchange where players are able to swap the ATA tokens they’ve earned for other cryptocurrencies.
Users of the play-to-earn (P2E) game as well as other games on the Autometa Network will earn ATA tokens as well as be able to trade virtual items in what is an exciting rewards system that the Autometa team has established.
Autometa features a DAO-based (decentralised autonomous organisation) governance model as the platform aims to become a fully functioning DAO where ATA holders will be able to participate and vote on changes to the game including potential rule changes and gameplay mechanics.
Decentraland (LAND) reigns supreme
As the biggest metaverse-based cryptocurrency in the world, with a market cap of almost $5 billion, according to data from CoinMarketCap, Decentraland (LAND) is the undisputed king of metaverse cryptos.
Despite a period of slow growth where LAND is down 9.6% in the past 30 days, it still ranks as the 34th biggest cryptocurrency in the world.
Having reached its all-time high of $5.85 in November 2021, Decentraland, a software where its users are able to sell or buy digital real estate, has suffered a decline since that milestone but with the increasing popularity of the virtual space, there’s only one place Decentraland is going and that’s up.
Axie Infinity (AXS) continues its growth
Having taken the crypto world by storm last year, Axie Infinity (AXS) has become one of the poster boys for the advent of metaverse-based cryptocurrencies that allow users to earn real money.
A blockchain-based game where users purchase NFTs of “Axie” monsters and pit them against each other, the game exploded in popularity in 2021 as it’s been catapulted to its current 44th ranking as the biggest cryptocurrency in the world, with a market cap of almost $4 billion.
AXS, which is the governance token of Axie Infinity, is used for breeding fees and its holders are able to vote on future decisions taken on the game.
Achieving a 24% rise in the past 14 days demonstrates the market for growth for metaverse-based games and especially for Axie Infinity.
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