The Sandbox (SAND) & Parody Coin (PARO). People have frequently spread the myth that NFTs are simply photographs of tangible or intangible artwork, or even digital copies of collectibles that sell for large sums of money.
Surprisingly, the public’s apparent ignorance of this sect isn’t entirely their fault, as it is the most visible aspect of NFTs that receives attention. However, given the recent chaos surrounding digital art, it has become clear that NFTs open up a plethora of new possibilities and areas to investigate.
Decentraland (MANA) and The Sandbox (SAND) are two prominent cryptos that make use of NFTs in their virtual worlds. Newcomer Parody Coin (PARO), which is rumoured to revolutionise the way NFTs are used, also plans to have its own Metaverse – dubbed the Paroverse – as stated in its White Paper.
Let’s take a look at how these three cryptos cleverly incorporate them to boost users’ experiences in virtual reality.
Decentraland (MANA) is a leader in P2E 3D Metaverse experiences, with a desktop client (in beta) and an in-browser experience that makes the Metaverse accessible to a wide range of users.
Decentraland (MANA) incorporates the popular P2E model, allowing users to earn significant rewards for their time spent in its Metaverse through a variety of avenues and locations.
Furthermore, on OpenSea, Decentraland (MANA) has a thriving virtual real estate market, whereby digital plots of land are sold as NFTs, with a floor price of approximately 2.694 ETH. Decentraland (MANA) land plots are among the most expensive virtual real estate options in the metaverse.
Decentraland’s (MANA) OpenSea collection’s total trading volume surpassed 208k ETH (approximately $637 million).
The ICE Poker virtual casino is the best place to go if you want to make money in Decentraland (MANA). Users must purchase an ICE Wearable NFT, which costs around $2,000. The NFT allows users to access the ICE Poker tables, where they can earn money by playing free-to-play P2E poker.
MANA is Decentraland’s (MANA) primary utility asset. MANA is also compatible with the Polygon (MATIC) network, allowing users to trade with low fees. MANA’s features include the ability to claim rewards, buy NFTs in Decentraland (MANA), and so on.
The Sandbox (SAND)
The Sandbox (SAND), which launched its Alpha in December 2021, is currently the third-most valuable Metaverse crypto, boasting a market cap of over $3.1 billion. The Sandbox (SAND) is a direct competitor to Decentraland (MANA). It’s no surprise that as one of the top three Metaverse tokens, it has over 135,000 holders.
The Sandbox (SAND) includes an RPG-style 3D Metaverse that has been compared to a mix of Fortnite and Minecraft. The Sandbox (SAND) is designed in a block style with vibrant Fortnite-like colours, making it a fun and engaging experience for players.
The Sandbox’s (SAND) thriving community is one of the reasons for its success. In addition, The Sandbox (SAND) has world-class partnerships with celebrities like Snoop Dogg, who is creating his own island in the “Snoopverse”.
With plots of land listed on OpenSea, The Sandbox (SAND) also has one of the most sought-after virtual real estate markets. The current floor price for a plot of land in The Sandbox (SAND) is 1.89 ETH ( around $5,700).
The Sandbox’s (SAND) total amount of virtual real estate sold surpassed 156,000 ETH, or roughly $477 million, demonstrating the platform’s massive virtual real estate market.
The Sandbox’s (SAND) primary utility asset is SAND, which can be staked for rewards, used to purchase in-game items, and so on.
Parody Coin (PARO)
Parody Coin (PARO), an unfamiliar name in the Metaverse realm, has just entered its presale. Despite the fact that it’s yet to launch, Parody Coin (PARO) has sparked interest in the crypto community after revealing some of its bold goals in its ambitious White Paper.
The Parody Coin (PARO) project aims to address inequalities in the NFT market, such as high floor prices that prevent ordinary people from participating. They believe the market can be diversified by incentivising the creation of ‘parodies’ of popular NFTs (such as CryptoPunks or Bored Apes).
Parody Coin (PARO) could also potentially move the entire NFT market to its platform. When a popular NFT is turned into a ‘parody,’ the original NFT’s owner can gain ownership of the parody by burning or locking up the original.
Parody Coin (PARO) will work like a Super app, complete with its own dApp store. Third party developers will be able to create and launch dApps, including those that facilitate the minting, trading, and use of parody NFTs.
Likewise, the BNB Chain will host the Parody marketplace as a dApp. It should have a simple interface for creating parodies of popular NFTs across various blockchains. It’s also a place where users can sell their own NFT parodies, or buy one from a list of others who have put theirs up for sale.
Investors can generate consistent passive income in a variety of ways, according to the developers. First, by creating ‘parody’ NFTs for trading and selling, second, by the token’s reflection process, third, by staking on the BNB Chain, and finally, via the network’s extensive rewards scheme. Investors have the option of participating in multiple revenue streams or simply letting the rewards and reflection do the work for them.
Due to its early stage of presale, PARO is being sold at its lowest ever price at the moment. The price of the token is expected to soar quickly as more investors buy in due to the token’s growing popularity.