By EWN • 01 July 2022 • 11:15
With the adoption of crypto and Web 3.0 technology not subsiding even amidst the economic downturn, this is the time to consider looking at cryptocurrencies that have a lot of potential with the benefit of them being at a lower price right now.
The future really is now with companies laying the foundations by producing scalable solutions across the industry for developers and users alike, to allow the expansion and to ease the transition into Web 3.0.
In this article, a new exchange that is looking to establish itself as the industry leader within the GameFi industry, linking gaming and crypto together will be analysed, alongside industry behemoth Ethereum (ETH) and the future plans of the network.
Xchange Monster (MXCH) is a decentralised exchange that is looking to bring the world of crypto and gaming together, to provide a platform where users can benefit from in-game play-to-earn schemes that are becoming more prevalent across the gaming world.
Play-to-earn schemes are the future as we enter the Metaverse and it benefits everyone. It incentivises users to play their favourite game and keeps them motivated to play for longer which in turn helps the game owners and developers. Retaining a high activity in games is a key indicator of success and will allow users to gain exponential rewards for the time that they put into the game.
Xchange Monster will act as the bridge to connect play-to-earn schemes to a physical exchange where, as a user, you can cash out your rewards and earn physical or digital cash for your hard work. Xchange Monster will connect to the world of gaming through their Monster Wallet, where you can store all of your digital assets and cryptocurrencies.
This will be available for trading on the Monster Exchange where numerous trading pairs are available to convert those in-game assets into your favourite cryptocurrency. You can also deposit or withdraw your holdings to your bank account through Monster Pay which will act as Xchange Monster’s payment gateway.
Lastly, Xchange Monster will look to partner with a plethora of games where you can use their native token MXCH to purchase in-game content. There will be a limited supply of MXCH meaning that the more that the currency is used for in-game content, the scarcer the resource will be and an appreciation in price will be seen. Everyone knows that gamers love in-game content which is why the proposition behind their native token is attractive.
Currently, the token is undergoing its presale, however, the company has an app that is live and available to download on the app and google play store. If you are interested in Xchange Monster then you should download the app and visit their website to learn more about how they can power gaming into the Metaverse.
Ethereum (ETH) needs no real introduction and is the bedrock behind powering the world of DeFi and Web3.0. The vast majority of new layer-2s are built on the Ethereum network and it is the most popular network to develop and build on. With the launch of Ethereum 2.0 just around the corner many within the space are preparing appropriately, so make sure that you don’t miss out.
With the launch of Ethereum 2.0 imminent, the network has announced that mining will be going away from the platform as it shifts to Proof-Of-Stake. While many miners are not best pleased about this, the vast majority of the community is particularly those who are concerned with climate change and the carbon footprint that crypto mining can have.
Proof-Of-Stake is a much cleaner way to validate the network than Proof-Of-Work and will drastically reduce Ethereum’s footprint moving forward. As regulation will likely come to tackle some of the more environmentally costly crypto projects, this move should be welcomed.
Lastly, Ethereum has typically been one of the sturdier coins to have in your portfolio. While the market is very volatile nothing is guaranteed, but Ethereum as a project will be the network that will power the world of Web 3.0 for the foreseeable future and should be a coin that you consider when looking to add to your crypto portfolio.
Keywords – Xchange Monster, MXCH, Ethereum, ETH, Crypto, Web 3.0, Gaming, Metaverse
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