To know if it’s worth the time for you to indulge in thoughts of whether the Metaverse ETP is an ideal investment – it’s pivotal to familiarize yourself with the concept first.
Metaverse is a blockchain, and Entropy, aka ETP, is their cryptocurrency. At least that’s the gist of it because the Metaverse concept is a whole different and newly introduced story. In layman’s terms, it’s going to be essentially an all-in-one mixture of the broadband internet, virtual reality, and our own world. Plus, everyone will be given the option to choose an avatar in the blend of real and virtual life.
Back to the topic of the public blockchain, let’s begin by noting that it originates from China. It’s essentially like Ethereum’s own digital ledger but without the coding.
The owner is Eric Gu who implemented a unique Entropy token that functions for determining the worth of your assets in the Metaverse. As previously mentioned, ETP takes the role of a cryptocurrency but only in the Metaverse trade, relating expenses that occur within its realm.
As of now,the Metaverse has a maximum supply of 100,000,000 Entropy tokens. Something above 78,000,000 ETP is circulating at this moment which is a fair amount considering the number tripled from 2017.
So let’s go into details of whether the metaverse ETP is a fruitful investing idea.
Where and How to Purchase Entropy Tokens
At this moment, ETP is accessible on BTER and OpenLedger DEX. Let’s say you’re unfamiliar with these Entropy tokens. To acquire ETP is not as simple as inputting your cash and buying it on certain sites.
On the bright side, you can trade these Entropy tokens across various Bitcoin exchange platforms such as Bit-Z, TOPBTC, Coinsuper, Bitfinex, and many more. Also, there are a few wallets that implement the usage of Metaverse ETP: the original Metaverse Wallet that you can use on your mobile and desktop PC, as well as the Cloud Wallet.
Bitfinex is your best bet, since it’s the largest cryptocurrency trading platform worldwide. You can get the ETP here by exchanging currencies such as USD and Ethereum as well as Bitcoin cryptocurrencies.
Remember that a small number of Bitcoin trading firms might refuse to incorporate low-demand currencies, like ETP tokens.
Investing Opportunity or a Scam?
First off, a Proof of Work mining system is implemented to bring ETP into the Metaverse. But in January 2019, Eric Gu started to work on another system called a Proof of Stake. Sadly, the highest it went on the market was in June, 2017 and up until now, it still hasn’t risen to the desired levels.
Concurrently, this blockchain uses a Metaverse Smart Token (MTS) to serialize digital currencies. Registering, transferring, wasting or spending, storing, and even destroying such digital assets are all possible. Furthermore, Metaverse scores its credibility on the internet by implementing Alter egos, or Avatars for users to obtain. Subsequently, oracles are the networking “middlemen” who give out the services as needed.
Even though the Metaverse ETP cryptocurrency isn’t as well known as, for example, Ethereum, it does not actually imply that their ETP should be casually disregarded. Metaverse’s threefold blockchain strategy may show more flexibility than other competitors.
Zen Gold, which mostly supports digital currencies using actual gold that might subsequently be purchased, traded, and monitored internationally, is among the first established applications to make use of the system, just like a Blockchain-as-a-service (BaaS) option. This system is primarily developed for commercial clients (persons or groups) who demand corporate finance. Corporate customers will not be categorized like they always had been, and the BaaS needs to accommodate every customer, including their avatars in the Metaverse.
Quite a few of the Metaverse smart contracts features appear to be targeted for digital intermediation. The Metaverse ETP is tailored to withstand housing markets, loans, and even bank transactions.
To note, Metaverse will provide a triumphant initiative on its shoulders if it can acquire proper government or business collaborations. Up to this point, it’s rather uncertain; though the technology is available and appears to be progressing nicely. Just like other blockchains, if not a single person utilizes the crypto, its prices will inflate in an unnatural process and succumb to a thing called “blockchain bubble”.
Considering the Metaverse will eventually blow up because of how the digital world is carried out, and how young adults and even elderly people are catching up to it – it’s most likely a good investment opportunity and not a scam.
If you’re a risk-taker, invest in it as soon as you can because you know how the cryptocurrency market is, and if you wait it can elevate to such great heights.
This is also supported by the fact that Metaverse runs their documents thoroughly.
They possess lengthy technical papers between their system and their overall data security projects that describe what their intentions are – which gives the entire process a whole new level of trustworthiness.