Understanding nfts and all its relation with metaverse

How Sandbox (SAND)& Decentraland (MANA) are changing the Metaverse

Last Updated: July 15, 2022By

The Metaverse has already impacted the economy in two ways: first, by creating new asset classes, and second, by providing a blockchain-based alternative investment tool. All of this suggests a bullish market with a tolerance for moderate to high risk. Of course, the odds are that you already know about the Metaverse if you invest in cryptocurrencies or are simply a casual observer. You might not know how The Sandbox (SAND), Decentraland (MANA), and Chronoly.io’s three coins will alter it.

A lot of investors are interested in Chronoly.io (CRNO). This brand-new cryptocurrency project introduces the first cross-chain NFT marketplace for NFTs backed by physical watches as assets. The watch market has long been one of the safest investment options for many high-net-worth investors, outperforming gold, real estate, and even the Dow Jones during the past ten years. The Chronoly.io marketplace allows smaller investors to purchase, trade, and invest in these luxury watches by issuing NFTs against real-world timepieces that are subsequently fractionalized. This process is similar to stock trading.

Blockchain technology is expected to transform the used watch market and lower the danger of fraud and counterfeiting by storing all watch information, including legitimacy, ownership, and purchase history, in the metadata of the NFT.

Owners of CRNO tokens can bet the $CRNO token for passive income, use it to get discounts on fees, and enter a monthly lottery to win a free watch. Just picture yourself donning a digital-era Rolex, Patek Philippe, or Richard Mille! The Chronoly.io team is already discussing with a few metaverse service providers to enable investors to wear their watch in the Metaverse.

The native token of Chronoly.io, CRNO, has sold over 225 million tokens and is currently trading at $0.066, up 560 percent from its initial $0.01 price. The community is still expanding.

Diversity is valued by The Sandbox (SAND).

A Valley of Belonging partnership between People of Crypto Lab (POC) and The Sandbox (SAND) was announced at the end of May. “The metaverse’s first-ever diversity, equity, and inclusion hub” is The Valley of Belonging.

POC will partner with businesses to promote cultural awareness and education, resulting in metaverse projects and movements, in collaboration with The Sandbox (SAND). The creation of 8,430 avatars NFTs on June 17 will represent an estimated 84.3 percent of the world’s population who identify as people of color and LGBTQ+. The avatars will include a range of skin tones, races, sexual orientations, and gender identities, according to stories concerning The Sandbox (SAND). Thanks to NYX Professional Makeup, the entire sale price of the avatar NFTs will be donated to the Los Angeles LGBT Center.

Also, read – The French Regulator AMF Suggests Sandbox for Blockchain Security Tokens

The preferred cryptocurrency for Metaverse real estate is Decentraland (MANA).

One of the newest metacurrencies that actively promote the Metaverse is this one. A cutting-edge Metaverse breakthrough, Decentraland (MANA) is a 3D virtual reality platform. Metaverse Decentraland was developed in 2015 by Esteban Ordano and Ali, but the platform as a whole wasn’t made public until 2017. Currently, Decentraland runs on the Ethereum blockchain. It consequently has its native ERC-20 coin, called MANA. Users can use this platform’s MANA tokens to purchase LAND in the Metaverse. Currently, the market capitalization is $1.9 billion.

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About the Author: Diana Ambolis

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