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Here’s how FIREPIN, Axie Infinity and Enjin Coin are going to participate in the development of the Metaverse and benefit their investors
The idea of the metaverse exploded last year with many metaverse-inspired projects and tokens such as FIREPIN Token (FRPN), Enjin Coin (ENJ) and Axie Infinity (AXS) garnering mass attention which invited investment into the space.
While we already somewhat live in a metaverse with the consistently rising influence of the internet and social media, these companies want to take the development of the metaverse a step further.
FIREPIN Token (FRPN)
Backed by the metaverse decentralised autonomous organisation (DAO), FIREPIN Token (FRPN) is a community-led decentralised protocol that aims to develop the fields of metaverse VR games, NFT games and the 3D industry.
Alongside its metaverse ambitions, FIREPIN is also a multi-bridge cryptocurrency that allows its holders to transfer value across several blockchains.
Those blockchains include Binance Smart Chain (BEP-20), Polygon (MATIC), Solana (SOL), Ethereum (ETH) and Avalanche (AVAX) where FRPN holders will be able to choose the quickest and most cost-effective blockchain to take on their transaction.
Axie Infinity (AXS)
Axie Infinity (AXS) is a blockchain-based play-to-earn game where players purchase NFTs of creatures and match them in battles.
The Axie Infinity metaverse contains ‘Axies’, which are creatures in the form of NFTs that players can raise and also use in battles to earn in-game currency.
The NFT collection for the game was the first to hit $4 billion in sales, defeating the likes of CryptoPunks and Bored Yacht Ape Club.
The AXS token, currently ranked as the 41st biggest cryptocurrency in the world, according to CoinMarketCap, has experienced a 1825.3% surge in the past year thanks to the increasing popularity of NFTs and the metaverse.
The current token price, however, is a far cry from its all-time high of $164.90, set in November 2021, with AXS currently trading at $49.07, a drop off of over 70%.
Enjin Coin (ENJ)
Enjin Coin (ENJ) is a blockchain-based platform on Ethereum that allows developers to create virtual goods on the blockchain.
With a focus on the blockchain gaming industry, Enjin’s technology is powered to create an ecosystem for both the NFT and gaming industries.
Designed to integrate with games, MMORPG players can buy an item in Enjin which they can then use across different games and sell it in an online marketplace.
Having experienced a modest rise of 16.8% for the past year, Enjin is currently trading at $1.36, a 71.8% drop from its all-time high of $4.82, set in November 2021.
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