Play-to-earn (P2E), platforms that allow users to earn rewards by playing, and metaverse coin projects that offer a digital world are gaining popularity. Concepts for players to monetize metaverse projects and games have increased altcoin prices. According to researcher Motiur Rahman, cryptos specific to Decentraland, The Sandbox and Axie infinity have the potential to recover after the bear market. Here are the details…
The first metaverse coin on the list: Decentraland (MANA)
Decentraland (MANA), an Ethereum-based token, is ranked 47th with a valuation of $1.3 billion. Blockchain, consisting of games, NFTs, and user-managed experiences, powers Decentraland. Decentraland’s concept is quite broad with virtual platforms LAND NFTs. On the daily chart, MANA is consolidating at the $0.603 support after trending lower highs and lower lows. If it doesn’t hold, it may find support at lower levels. However, if it rises, $0.671 is seen as immediate resistance.
Another popular coin: The Sandbox (SAND)
Second among the best P2Es/metaverse coins to watch is The Sandbox (SAND). SAND is currently trading at $0.7472 and has a market cap of $1 billion. Its price is a small fraction of the $7.5 all-time high (ATH). Still, The Sandbox is described as one of the best GameFi platforms. The Sandbox has attracted many institutional investors. Apart from that, he has worked with many celebrities, the most recent of which is Paris Hilton.
According to the daily chart, SAND sold strongly. According to the expert, possible retracement levels in the next step are 0.86, 0.95, 1.03 and 1.10 dollars.
Last coin on the list: Axie Infinity (AXS)
cryptocoin.com As we have reported, the NFT-based online game developed by Sky Mavis had a significant success last year. Native token AXS traded at the peak of $160. However, the crypto winter has since slashed gains as low as $9. This represents a market value of $1 billion. News that the Axie Infinity Shard has been unlocked has contributed to the recent drop.
Despite huge sales, Axie Infinity remains a strong P2E platform. It recently released its first Blockchain-based minigame, Raylights. According to experts, in the P2E space, with its popularity among investors, it has the potential to bring big profits in the next bull run. AXS lost $12 support on Oct. However, its acceleration points to the possibility of a change in trend, according to experts. In concluding the article, it is worth noting that these are only expert opinions. Every investor should invest in line with his own research.
