Two game-changing cryptos: ApeCoin and The Sandbox
Why ApeCoin (APE) and The Sandbox (SAND) have the potential to transform your financial portfolio and the gaming industry.
Video games represent one of the world's major entertainment markets. The UAE Ministry of Economics and Finance reported that the global gaming market was worth $198.40 billion in 2021.
Cryptocurrencies have a strong correlation with the video game industry. With the introduction of blockchains and non-fungible tokens (NFTs), video gaming has become much more than just a game.
Gaming has evolved from a kind of escapism to a digital economy where trading, swapping, and acquiring things have become the norm.
Although there are policy issues around the usage of NFTs in gaming, it is a feature that allows users to successfully optimise the marketplace.
Here are two cryptocurrencies that have the potential to revolutionise the metaverse.
ApeCoin: The Bored Ape coin
ApeCoin is a new cryptocurrency that centres itself around video gaming. It is strongly linked to the Bored Ape Yacht Club (BAYC) and the larger ecosystem created by Yuga Labs.
It acts as a governance and utility token in the APE ecosystem. Since its launch on 16 March 2022, the decentralised network also plans to contribute to the development of web 3.0 by being a community-driven cryptocurrency.
This is done through the incorporation of decentralised autonomous organisations (DAO), which permits ApeCoin users from making decisions on the currency’s partnerships, developments, and regulations.
They take their community-driven ethos a step further by allowing members to personalise a ‘Bored Ape’, which is one of the network’s distinct features.
On 4 May 2022, entrepreneur Elon Musk changed his Twitter profile picture to a compilation of bored apes. According to Coinbase, ApeCoin surged by 19% after Musk’s social media action!
If one of the world’s richest people is taking an interest in this currency, then surely this coin has the potential to thrive.
The Sandbox: A virtual blockchain
The Sandbox cryptocurrency is currently in the top fifty most profitable blockchains according to coinmarketcap.com, being positioned thirty-ninth.
The network describes itself as a utility token used in the Sandbox ecosystem.
The Sandbox is a video game for Microsoft Windows and mobile devices that has now evolved into blockchain technology, allowing players to monetise their in-game creations.
This is perhaps one of the strongest tactics for attracting consumers to your cryptocurrency - allowing them to profit financially in a virtual world.
There is no doubt that SAND is one of the most promising gaming cryptocurrencies on the market.
