14th November 2021 > > The Metaverse.

tl;dr

The Metaverse and gaming coins are an interesting combination

Market Snap

Market Wrap

Perpetual futures funding rates back to totally neutral indicating that the significant overhang of leveraged longs have all got bored and gone home. Good riddance I say. I would also point out that this deleveraging of longs has had a negative impact on the price of BTC for a few days, potentially clearing the way for strong upward momentum with the Taproot upgrade due today.

Curious Cryptos’ Commentary – Technical Analysis (TA) and XEUS

I am sure our resident techie Larry won’t mind me sharing this fine piece of TA which I found on the XEUS discord channel.

Bearing in mind that such channels are overwhelmingly populated by the “belivers (sic)”, and hence cannot be entirely trusted to be impartial, can anyone apart from Larry shed any light on what these squiggles and randomly drawn lines mean?

Nope, thought not. Over to you Lazza.

Curious Cryptos’ Commentary – The Metaverse

Facebook’s change of name to Meta implies that the company is about to embrace all things decentralised.

Probably not, based on past behaviour by this competition destroying monolith, but I would like to be proved wrong.

What is not in doubt is the Metaverse will be decentralised. Early iterations have gone down this route, and I believe there is zero appetite amongst current and future Metaverse participants for any form of centralisation.

One of the early attempts at developing this field came from Decentraland which has been operating for just over four years now:

https://decentraland.org/

I have been interested in this for quite some time, though until recently it was very slow and cumbersome to use. As a decentralised platform based on blockchain technology it has its own coin known as MANA.

With a market cap of nearly $5bn this coin has been on an absolute tear for the last six weeks, presumably off the back of all the press coverage currently awarded to the Metaverse concept.

…

The growth area to keep your eye on will be the development of decentralised gaming with play-to-earn features.

These games will be powered by their own crypto, with plenty of in-game opportunities to earn and spend the local currency.

Globally, the legacy gaming industry is predicted to be $176bn in 2021, a tidy sum by any measure.

Coupled with VR headsets, and not restricted to specific platforms, the advent of decentralised gaming will not only cannibalise a large part of the incumbents’ revenues but will provide a strong growth vector.

One platform that is in development and has caught my eye is this one:

https://metastrike.io/#

There will of course be hundreds of these platforms, some of which will become super successful, with commensurate financial rewards for coin holders.

My research so far has been limited, and I am not yet the proud owner of any decentralised gaming coins.

I intend to correct this gaping hole in my crypto portfolio. I will keep you informed as and when I make any progress.