With the recent cryptocurrency market correction and the Terra (LUNA) debacle, many projects have been set on fire. The good news is that metaverse coin projects are showing significant bullish momentum today, with many seeing high single digit percentage growth. Cryptocurrency analyst Kyle Portman shares his selection of the top three metaverse coins with market caps under $250 million to watch in May 2022, in order from lowest to highest by current market cap.
First metaverse coin project Radio Caca (RACA)
Launched in August 2021, Radio Caca (RACA) is the lowest value metaverse crypto project to watch in May 2022. Radio Caca has a robust community and ecosystem consisting of a play-to-earn NFT-based game, a robust metaverse, and the top-rated Ethereum-based NFT market.
Radio Caca has a Metamon NFT based game that allows users to join its ecosystem and win significant rewards. Additionally, USM (United Stated of Mars) Metaverse is comparable to Decentraland and offers a variety of experiences for users to control.
According to the analyst, one reason for Radio Caca’s immense potential is its team and world-class partnerships with world-class music icons. For example, Radio Caca has partnered with French Montana and will invest $25 million to develop a Metaverse crypto game themed after the rapper’s upcoming album.
Additionally, Radio Caca’s NFT market ranks in the top five by volume, with over $40 million in trading volume in the first month since launch, pointing to the enormous long-term potential of the project and the cryptocurrency. According to the analyst, with its current low prices and market cap of $162 million, Radio Caca is a must-watch movie in May 2022 and traders should follow the project closely.
Second metaverse project to watch Illuvium (ILV)
Released in March 2021, Illuvium (ILV) is a highly undervalued Metaverse coin project that creates an RPG game on the Ethereum Blockchain. Illuvium revolves around players exploring its open worlds and catching creatures.
Illuvium integrates the play-to-earn model that allows players to earn substantial rewards by playing the game. Users can complete quests, participate in battles and progress through the game’s campaign to discover the secrets of the universe.
Since the game is built on Blockchain, users will be able to print NFT-based creatures and add them to their arsenal. The game contains 100 different types of Illusions, each with unique skills and characteristics. Like Pokemon, players will be able to upgrade, combine and train their Illuvials to increase their stats and power.
The analyst states that over $1 billion Illuvium tokens have been staked on the platform, which talks about the enormous long-term potential of ILV. According to the analyst, the primary service asset for Illuvium is ILV, an ERC-20 Ethereum token that also includes a Solana variant. ILV’s utility token includes governance, staking and interaction with the Metaverse.
Final metaverse coin project WAX (WAXP)
Released in December 2017, WAX (WAXP), a leading Blockchain for Metaverse and NFT applications. It has a robust ecosystem of various play-to-earn games, an NFT market, and much more. WAX has some of the most popular Metaverse crypto games, including Alien Worlds, Farmers World, and Splinterlands. All games are Blockchain based and allow users to earn rewards in the form of tokens by participating in their ecosystem.
According to analyst, WAX is perfect for applications that require high on-chain interaction and fast validation processes. It uses Delegated Proof of Stake consensus mechanics, which uses WAX, CPU, RAM and NET instead of gas charges. Users can acquire resources to run transactions by staking WAXP, the native utility asset on the platform. In addition, users can retrieve their WAXP locked for transactions at any time.
According to the analyst, WAX Blockchain is extremely user-friendly as it includes an interoperable cloud wallet that integrates with every part of its ecosystem. This means users don’t need to download and install third-party wallets like MetaMask or Phantom and can easily access dApps on WAX.
The primary utility asset on the platform is WAXP, which allows users to interact with various games on its platform, buy NFTs, participate in management and stake for rewards. To learn more about WAX, you can check out this article of Kriptokoin.com.
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