Decentraland (MANA) and The Sandbox (SAND) are two projects that looked set for success in the 2021 bull market. When Facebook announced plans to rebrand its business to Meta Platforms. Traders jumped in anticipating a quick adoption of the metaverse, but that has yet to transpire. Uwerx (WERX) is a project that can provide big gains for investors long before the anticipated two-to-three years that may be needed for the metaverse. Some analysts are expecting gains of 6,000% for the gig economy blockchain platform.
Decentraland (MANA) rallies in 2023
Decentraland has started the year with a rally as traders look for bargains after the bear market. The metaverse project has been building out its virtual world since around 2018, and investors can use their MANA tokens to exchange them for LAND tokens. Those LAND tokens allow the purchase of land space in the Decentraland (MANA) metaverse.
The record sale for a plot of land in the Decentraland space is $2.3 million, which was set near that market high. Investors can do anything they wish with the land; we have seen things pop up, such as games and casinos. If the metaverse gains mainstream adoption, then corporate advertising and land sales will be big. Many corporate giants see the metaverse as the future, and Chinese retailer Alibaba was the latest to plan a metaverse launch. This follows the likes of Disney and Walmart into the space.
The Sandbox (SAND) wants to be a Metaverse Manhattan
The Sandbox is a rival to Decentraland, and the project’s founder said it wanted to be the Manhattan of the metaverse. The Sandbox saw a higher land sale of $4.3 million for a digital land plot, and the project has attracted some well-known names to its virtual world. Both Decentraland and The Sandbox are known for hosting virtual events such as concerts and selling digital merchandise for avatars in their marketplaces.
The problem for investors in these projects is that big gains are likely to take two-to-three years to complete. That was the estimate for adoption from the CEO of Meta. The other risk is that there is growing competition. Cardano (ADA) is eyeing the metaverse, and there IS the Meta Platforms offering. Although Decentraland (MANA) and The Sandbox (SAND) coin could see some positive price action in the future, we believe it would be advantageous to seek opportunities with earlier growth potential.
Uwerx (WERX) can play catch-up on valuation
Decentraland (MANA) and The Sandbox (SAND) have already seen good investment gains, and both projects have a market valuation of over $700 million. Investors should be looking for the next surprise package or niche. Uwerx (WERX) has that – with a platform that will bring the blockchain and decentralized to the freelance industry. The gig economy is booming, but there are currently no freelance platforms using their own token and based on blockchain technology.
Uwerx (WERX) will have a first-mover advantage in this growing sector and can disrupt the current players. Bringing the market onto the digital ledger means that lower fees and faster payments can improve the industry for workers. Employers can also benefit from stronger data security, which will eliminate the risk of false resumes and allow them to control their intellectual property.
Users of the platform will also have additional options to earn through gamification and incentives that the WERX token will introduce; Uwerx can start taking market share long before the metaverse sees mainstream adoption and could be rubbing shoulders with MANA and SAND in the process.
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