In 2023, investors will finally be looking for cryptos that have the potential to deliver on all the hype and promises of the metaverse. According to crypto expert Dominic Basulto, the popular metaverse coin project ApeCoin could benefit from unlocking enormous intellectual property value. Also, Illuvium has a unique value opportunity in 2023.
Two metaverse coins featured for the next bull run
cryptocoin.com As you follow, metaverse coin projects were generally on the decline in 2022. However, ApeCoin and Illuvium stand out for their long-term potential. Metaverse cryptos that showed so much promise in 2021 are back in the world in 2022. Popular metaverse cryptos Decentraland and The Sandbox have dropped 90% this year. Also, many investors have completely abandoned the metaverse in favor of less risky crypto assets.
But if you’re looking for metaverse cryptos with potential in the next bull market run, there are two names that stand out. These are: ApeCoin (APE) and Illuvium (ILV). Because, both build in the long run. Also, both have passionate communities of fans willing to wait for the crypto winter. Here’s a closer look at both.
Popular metaverse coin project ApeCoin (APE)
When most people think of ApeCoin, they immediately dismiss it as a pure play on the Non Fungible Token (NFT) market. After all, ApeCoin is the executive token of the Bored Ape Yacht Club ecosystem. Also, Bored Ape Yacht Club is arguably the most successful NFT collection ever. Ok, in 2022 the NFT market crashed. Despite this, the ‘floor’ Ape, which is the cheapest Bored Ape on the secondary market, still costs around $100,000.
However, ApeCoin is now bringing these NFTs to the metaverse. Here’s where things get interesting. In mid-2022, Yuga Labs, creators of Bored Ape Yacht Club, announced the creation of Otherside, a metaverse world filled with Bored Apes. In this metaverse world, ApeCoin is your way of paying for land or items for your avatar. So the more this metaverse world evolves, the more valuable ApeCoin becomes. CoinMarketCap already ranks ApeCoin as the most valuable metaverse coin, with a market cap of $1.3 billion.
Yuga Labs says it’s preparing new and exciting metaverse features for 2023, including playable avatars and customizable environments. The concept of ‘playable avatars’ may sound like crypto nonsense. But consider both Eminem and Snoop Dogg performing as Bored Ape avatars on this year’s MTV Video Music Awards show. After that, one way to unlock all of the Bored Ape Yacht Club’s valuable intellectual property might be to allow fans and collectors to use their NFTs as avatars in Otherside in similarly creative ways.
Second metaverse coin project Illuvium (ILV)
Illuvium may be well known to blockchain and gaming enthusiasts. However, it has not yet been accepted by mainstream investors. Illuvium debuted in April 2021 at $47.31. It also skyrocketed to $1,846.88 with all the hype about the metaverse. However, he returned to earth in 2022 after major gains.
So why would you want to enter now? The short answer is that Illuvium is back with another highly anticipated Blockchain game released in mid-December. The developers have described Illuvium’s new Overworld game as the first AAA game for the Ethereum Blockchain. Which means it’s high-profile and high-budget along the lines of a Hollywood blockbuster. It will be the second game of a three-part game experience. Also, the third game will arrive in 2023.
Illuvium brings together many of the hottest Web3 gaming trends of the last two years, such as play-to-earn and GameFi, as well as unifying them under the interoperable Blockchain gaming concept. Given the short shelf life of many online games, the concept of interoperable Blockchain gaming could become particularly interesting as it allows players to move their digital assets between different games. When you get bored with one game, you won’t have to start another game from scratch.
Looking long-term, game studio L is planning at least nine new games over the next two decades. Or it will release a new game every two years. It sounds more like a Hollywood movie series to me where you can reliably release a new movie every year based on characters and narratives people already know. This gives me more confidence that Illuvium is built long term. Ultimately, Illuvium plans to have over 100 million players.
Which is better for investment in ApeCoin or Illuvium?
Currently, I am much more optimistic about ApeCoin than Illuvium. The intellectual property backing ApeCoin is much better on a wide variety of platforms, both online and off-line. For example, at this year’s NFT conference in New York, some of the attendees speculated that Bored Apes would become one of the biggest entertainment brands like Walt Disney. Imagine your children and grandchildren growing up with Bored Apes instead of Goofy or Mickey Mouse. If that happens, it’s possible that ApeCoin’s value could skyrocket to the moon.
However, keep in mind that investing in crypto is always risky and volatile. And this is especially true for metaverse coin projects. But if you want to play the metaverse in 2023, ApeCoin and Illuvium are the two best picks right now.
The opinions and estimates in the article are the experts’ own and are not investment advice.
