We've seen this story play out within the cryptocurrency industry.
There have been many crypto projects in the past that debuted on the market with no apparent use case that could solve any issues that burden the experience of investing in crypto for potential investors.
In comes projects like Solana (SOL), Avalanche (AVAX) and Cardano (ADA) that aim to make the blockchain more sustainable and scalable for its users. All three cryptocurrencies currently sit in the list of the top 20 cryptocurrencies based on market cap, according to data from CoinMarketCap.
Xchange Monster (MXCH) is aiming to have a similar impact on the GameFi industry as the aforementioned cryptocurrencies had on its particular space.
GameFi is an amalgamation of gaming and finance and is preferable to traditional crypto DeFi. Blockchain technology enables seamless transactions of cryptocurrencies across different networks.
Approximately, there are 300 million cryptocurrency users globally playing in the cryptocurrency market which is valued at about $3 trillion. Given the promising potential of the crypto market, online gaming platforms have grown significant interest in launching their in-game assets.
Xchange Monster (MXCH) look to continue the growing trend and popularity of the crypto gaming industry as they aim to solve the issues that currently plague the GameFi industry.
The absence of elements such as Node, ledger, and a wallet means that the gaming community would indeed struggle to carry out seamless transfer and trading of their in-game assets and this is the area that Xchange Monster and its native currency MXCH are working on to become a one-stop-shop for the GameFi community and developers.
Blockchain technology is radically changing the gaming industry, thereby birthing an entirely new gaming economy.
Play-to-earn games (blockchain-based games) that are also described as GameFi applications are becoming more popular among online gamers and through the likes of Axie Infinity (AXS) has exploded in the past year.
While the hype around ApeCoin (APE) has died down slightly, the project is still in its infancy and remains a long-term investment.
After debuting on the cryptocurrency market in March earlier this year, the coin exploded and reached a then-all-time high of $17 before surging further to its current all-time high of $26.70.
However, a decline in the market in the following months which culminated in a crypto crash led to APE declining more than 80% to its current price.
The sudden and continuous decline of APE had people asking whether there even is a future for a project that had dipped heavily in just four months of being on the cryptocurrency market.
APE, however, remains ranked as the 38th biggest cryptocurrency in the world, amassing a market cap of over $1 billion, according to data from CoinMarketCap.
ApeCoin is a governance and utility token of Bored Ape Yacht Club (BAYC) which serves multiple purposes such as enabling holders to participate in the ApeCoin DAO (decentralised autonomous organisation).
Access to exclusive features of the ecosystem, such as the likes of games, events, merchandise, and services is available to APE holders.
According to analysis from several crypto experts, the APE price is predicted to reach a minimum of $4.22 by 2022 or a maximum of $4.78 by the end of the year.
Website: https://xchangemonster.com/
Telegram: https://t.me/xchangemonsterofficial
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.