Metaverse Tokens (ENJ, MANA)

August 24, 2021

Metaverse Tokens (ENJ, MANA)

In our full report on the Metaverse, we singled out Coinbase (COIN) as a potential winner of this burgeoning tech trend.

Need more proof?

Here are two tokens available to purchase on Coinbase that are actively making ‘the metaverse’ a reality:

Decentraland – (MANA)

Decentraland is a decentralized virtual reality platform powered by the Ethereum blockchain.

Within the Decentraland platform, users can create, experience, and monetize their content and applications – A similar concept to Roblox (RBLX), but with a unique twist:

There is a finite, traversable, 3D virtual space within Decentraland called LAND, which is a non-fungible digital asset maintained in an Ethereum smart contract. LAND is divided into parcels that are identified by cartesian coordinates (x,y). These parcels are permanently owned by members of the community and are purchased using the governance token: MANA.

Investor mentions of MANA have maintained a higher level despite a pullback in the price, trending +320% YTD on a 30-day moving average.

Since listing its initial listing on Coinbase in November 2020, the price of a MANA has soared from below $0.10 to nearly ~$1.45 at its peak, and it's rising again.

Enjin Coin – (ENJ)

The Enjin blockchain ecosystem aims to offer software products that make it easy for everyone to develop, trade, monetize, and market with blockchain.

ENJ allows any digital asset (specifically items in games) to be "minted", giving the item immutable value and allowing it to be easily exchanged for real currency.

Enjin, the team behind the Enjin blockchain, do not have a singular project of focus. Instead, their aim is to facilitate the development of games with ‘open ecosystems’

Open Ecosystem games prioritize concepts like:

  • Play-to-earn
  • Fair monetization
  • Creative freedom
  • Decentralization of game data

Crypto-specific chatter for ENJ shows a similar trajectory to MANA. Mentions are well below the 2021 all-time highs, but maintaining a higher level vs. prior years.

Want deeper insights? Get Free Access to The Vault.

Related Posts

PayPal, Square cashing in on crypto interest

PayPal (PYPL), Square (SQ) Consumer mentions of investing in cryptocurrency […]

Read More
IPO Watch: Coinbase is rocking -- but is it enough?

In regard to trading volume, Coinbase is the largest cryptocurrency […]

Read More
3 reasons Bitcoin could go (much) higher

Earlier this week, Bitcoin topped $50,000 for the first time […]

Read More
1 2 3 21

Related Posts

About LikeFolio

LikeFolio analyzes social media data to accurately predict shifts in consumer behavior. We sell data and insights to professional investors, corporate research teams, and software providers.
© 2024
 LikeFolio. All Rights Reserved.