The best performers include Ethereum Classic (ETC) which rose 35.76% to $44.75 Lido DAO (LDO) which rose 7.29% to $2.31 Axie Infinity (AXS) which rose 14.87% to $19.05 The Graph (GRT) which rose 18.54% to $0.13 and Curve Dao Token (CRV) which rose 14.95% to $1.50 as of 2:57 am ET. It is clear that Ether is outperforming the world’s biggest cryptocurrency.Īdditionally, CoinMarketCap data confirmed that ETH rose by more than 3.87% in the last seven days while BTC rose by around 7.87% in the same duration. The market dominance of BTC dropped to 41.50% while that of ETH rose to 19%. And with Grayscale claiming that the Metaverse is still “in its early innings,” the industry is likely to see more multi-million dollar sales of precious virtual real estate.The crypto market on Friday saw leading cryptocurrencies Bitcoin (BTC) and Ether (ETH) surged by 3.9% and 4.77%, respectively, as BTC broke above $24,000 for a short duration while Ether retained $1,700.Īs per data from CoinMarketCap, as of 2:57 am ET, the prices of BTC and ETH tokens were $24,078 and $1,723, respectively. The market opportunity for bringing the Metaverse to life may be worth over $1 trillion in annual revenue and may compete with Web 2.0 companies worth ~$15 trillion in market value today,” they write.Ĭertainly, the appetite for all things metaverse appears to be growing, with various metaverse-centric cryptocurrencies hitting all-time highs in recent days. What’s more, Grayscale has gone as far as to price this distinction at a whopping $1 trillion, citing Facebook’s recent pivot to the Metaverse “as a catalyst.” “In turn, this changed the products, services, and companies we used, which changed our business models, culture, and politics – the Web 3.0 Metaverse has the potential to do the same.” Source: Grayscale. “The Web 2.0 mobile internet changed how, where, when, and why we used the internet,” Grayscale writes. In a report released on Wednesday, Grayscale analysts outlined the opportunities presented by the metaverse, or what the report calls, “Web 3.0 Virtual Cloud Economies.” NFTs are seen as a crucial building block in the metaverse, as they allow users to take ownership of virtual items such as plots of land, avatars and artifacts, and will eventually enable them to move those items between different virtual worlds. NFT-powered games like Axie Infinity are widely regarded as pioneers of the metaverse- a persistent digital environment where users move between virtual worlds, interacting with others through customizable avatars.

Speaking at a recent conference, Axie Infinity co-founder Aleksander Leonard Larsen noted that the game now has about two million daily active players, about half of whom have never used any crypto application before. Its popularity is partly due to the game's play-to-earn mechanic, which has seen gamers in countries such as the Philippines earning a living by playing the game. The game has shot to prominence over the past year, becoming the most-traded NFT collection ever in Q3 2021, with over $2.5 billion in trading volume.

This was the largest sale ever for a single plot of digital land ✨🔥 Yesterday, an Axie Genesis Plot sold for 550 ETH!

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