At the height of metaverse speculation in late November 2021, it looked as though metaverse-related cryptos like The Sandbox (SAND) and Decentraland (MANA) were surefire winners entering 2022. Such speculation was spurred on by Facebook and its name change to Meta, indicative of its pivot to the metaverse. However, 2022 had other plans, as the crypto washout happened, obliterating the value of cryptocurrencies across the board – especially metaverse tokens. Let’s examine how this happened to Decentraland (MANA) and The Sandbox (SAND), while taking a look at a promising presale token in Uwerx.
Uwerx (WERX) Presale Garners Widespread Attention
Investing in initial coin offerings (ICOs) or presales has long been THE tried-and-tested way to make it in crypto – even early investors in The Sandbox (SAND) and Decentraland (MANA) have done so. It’s all about identifying which presale tokens have the potential to skyrocket in value.
We believe that Uwerx presents a tremendous opportunity. Uwerx is in the process of creating the first freelance marketplace built using Web3 technologies.
Uwerx’s goal is to build on web2 freelancing platforms like Upwork and Guru but optimizing it with web3 technology to reduce scams, protect intellectual property, and minimize transaction fees. Uwerx also intends to offer multiple income streams for freelance professionals on its platform.
Uwerx just recently launched its presale at discounted prices of $0.005. This represents great value for early investors because analysts predict Uwerx can hit heights of $2.50 by mid-2023. We’re talking about a 250x from this point forward.
With an InterFi Network and Solidproof audits under its belt, Uwerx is shaping up to be one of the best cryptos to buy into in 2023. Analysts are confident that WERX is in the running to become a blue chip currency. In addition to this, the creators have promised that contract ownership will be renounced before the project is listed on centralized exchange networks. Additionally, liquidity will be locked in after presale and for 25 years afterward.
Decentraland (MANA) Prospects Fade With Dwindling User Base
Decentraland (MANA) was ready to take over the nascent metaverse space in late 2021 as Decentraland (MANA) token prices spiked to $5.85. Virtual real estate on the Decentraland (MANA) platform, at the time, was being sold for eye-watering prices as well. However, Decentraland (MANA) prices have careened all the way down to $0.30 as of this writing, or a 95% decrease from ATH levels.
Metaverse tokens like Decentraland (MANA) and The Sandbox (SAND) became the butt of jokes in 2022 when it was reported that Decentraland (MANA) registered a mere 38 active users after being surveyed in one day. That doesn’t bode well for the virtual platform’s future.
The Sandbox (SAND) Is No Safe Haven for Holders
Yet another virtual world that enjoyed a price pump during metaverse speculation in 2021 was The Sandbox (SAND). 2022 hasn’t been kind to the Sandbox (SAND) and its holders, when The Sandbox (SAND) prices fell from $5.80 at the start of the year to $0.41 as of this writing. That’s a precipitous fall from grace by The Sandbox (SAND), considering it holds the record sale for a virtual plot of land at $4.3 million. 2023 will be more of the same as investors flee to less volatile holdings. Neither Decentraland (MANA) nor The Sandbox (SAND) metaverses with low volumes aren’t exactly safe investments.
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