Will there be a Chinese coin explosion this year? The most curious topic in the crypto currency world. Because the Chinese government’s injection of $92 billion into the market has repercussions. On the other hand, there is an influx of individual investors in Hong Kong into the area. Let’s have a look at the details.
What are the 4 Chinese coins?
Smart investors have already started making a list of Chinese coins they will buy in June. In the first place is ImmutableX (IMX). ImmutableX is a coin that will potentially increase in price after June. By now you know that ImmutableX is the big player in blockchain games. It also has a large Chinese investment in it. Tencent, one of China’s largest multinational companies, invested $244.5 million in ImmutableX. This means that with China lifting its crypto ban, more institutional investors will be able to transfer their money to ImmutableX. But not just institutions, individual investors on ImmutableX also love cryptocurrencies. Because the project has partnered with Polygon. Both projects together have invested nearly $2 billion in Web3 games. So, ImmutableX is the leading web3 game development platform. On the other hand, Polygon is the current leading protocol for web3 games. Accordingly, we can expect big news.
The second Chinese coin is Sandbox. It looks like Metaverse will make a big comeback in 2023. So we’re seeing major mainstream players re-entering the metaverse space. Without a doubt, Sandbox is one of the most important players in this field. Sandbox COO Sebastian Borget stated in a recent interview that by 2026 all the land will be sold. It will rely on secondary sales and user-generated content for revenue. So why is he so optimistic about Metaverse? Programs in development include a virtual graduation ceremony for HKDI and various scientific programs and gaming experiences at HKUST. Even PWC Hong Kong is exploring metaverse opportunities through Sandbox. The BBC, on the other hand, will have a home in the metaverse for the first time. The partnership begins with the iconic Top Gear and Doctor Who series. With so many big brands and Hong Kong government agencies discovering Sandbox, investors will flock to the Chinese coin Sandbox as soon as Metaverse makes a big comeback in 2023.
Phala Network (PHA) and Conflux Network (CFX)
Phala Network is a Web3 solution for developers’ computing and data storage needs. It also focuses on privacy. Web3 and more privacy is one of the megatrends for our decentralized enabled apps industry. So, what is Phala Network’s China connection? The project is based in Hong Kong. In addition, the co-founder and CEO of the project, Marvin Tong, previously worked at Tencent, one of the leading technology companies in China. P2P Computing is already here. But privacy and scale have been lacking until now. As a Chinese coin, Phala can fill this gap. It’s already doing this for privacy. As the winners of the 13th parachain slot, they have over 1600 contributors to the crowdloan. That means lots of passionate long-term owners. As a local project, Phala may receive a large influx of investors.
As the last Chinese coin, there is Conflux Network. Many believe it is the “MATIC of China”. Notably, Conflux is currently China’s only regulatory-compliant public blockchain. So, as China embraces the crypto space, CFX is on track to explode in 2023. Conflux is headquartered in Beijing and they are powering China’s Instagram through NFTs. On January 1, 2023, Conflux announced its integration with Little Red Book, the Chinese version of Instagram. On the other hand, the integration has enabled the 200 million users of Little Red Book to view the NFT minted in Conflux on their profile pages. Also very recently, the Chinese coin Conflux launched its Blockchain sim card in partnership with China Telecom, which has 400 million users. When we look at all these developments as Kriptokoin.com, 2023 seems to be a year for Conflux.
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