Games built on blockchain are another reason adoption is being exponential. The best known is called Axie Infinity
The creator, Vitalik, speaks like a genius child. He is also kind. After being gifted with other cryptocurrencies that earned him $ 1.5 billion, he donated it all to charity. The story of how he had to access cryptocurrency on an old notebook in another country and carefully perform the operation is fascinating.
Blockchain expert and former Goldman Sachs investor Raoul Pal dropped a recent bombshell. Explain that buying Ethereum is the best investment of your life. Ethereum is the best investment of the last 20 years. Here’s exactly why.
“Basically, there is 13% of all Ethereum’s free float available. Everything else is being staked, blocked and hoarded. They have only made the toughest bid. The bid is lower. Ethereum that is free-floated is falling. every day … Most people are going to start staking what they have. There is no availability. And the demand is going to be exponential. The exponential demand, meets the fixed supply, is equal to the exponential price rise. One one of the best montages I’ve seen, “said the expert.
Some predictions indicate that it could cost $ 20,000
In simple terms this means that: The total number of Ethereum available for purchase is now only 13%.
The rest of the Ethereum supply is being kept by investors, or locked up in various projects. The amount of Ethereum available to buy each day is going down and is not going to go up again.
People who own Ethereum can stake it. This simply means that they can lock up some Ethereum and use a computer to become a person who validates Ethereum transactions. Most of you reading this are never going to staking, but it’s a big business that has created a huge shortage of computer hardware like graphics cards.
Why is it booming
When more people wake up to find that Ethereum replaces large chunks of the internet that we know and love, how are they going to own Ethereum if nothing is available? They will have to pay a lot of money for that. Because Price predictions of $ 20,000 for Ethereum aren’t that far-fetched.
By now you have probably heard of NFTs (Non-Fungible Tokens). Social media icon Gary Vaynerchuk has turned his full attention to NFTs for a reason. NFTs disrupt many business models from the age of dinosaurs.
There are auction sites similar to eBay, like OpenSea, popping up everywhere. They are places where creators can go to sell their photos, blog posts, tweets, illustrations, audio, video, etc. An NFT proves ownership and enables digital goods to be transported around the world in seconds.
Transparent ownership was absent from the Internet. When ownership of digital goods becomes the norm again, the ways of making money from art will be transformed. And that’s not all. A work of art will also act as a ticket to an event or a gateway to a real-world experience. This is huge.
Games built on blockchain are another reason adoption is being exponential
What do NFTs have to do with Ethereum? The major NFT platforms use this cryptocurrency to build trust and send / receive transactions. NFTs are another reason Ethereum has been on the rise.
Games built on blockchain are another reason adoption is being exponential. The biggest game of them all is called Axie Infinity. It’s a combination of Pokemon and Tamagotchi for the 90’s guys.
Axie Infinity made $ 90 million in revenue in 30 days. The game has 350,000 daily active users. It makes Facebook look like a lemonade stand. When the global health crisis wreaked havoc in the Philippines, many citizens got paid gambling jobs. There is a full documentary about this new type of work on Youtube.
Blockchain games are creating jobs. New digital economies are being born. The importance for Ethereum is that games like Axie Infinity are also built on Ethereum.
Gaming is another reason experts are calling it one of the best investments ever.
Ethereum is what Facebook was a decade ago
Ethereum is six years old. The biggest trends in technology – decentralized finance, smart contracts, NFTs, blockchain games – are all enabled by Ethereum. Network usage is higher than ever.
It liquidated $ 1.5 trillion in transactions in the first three months of this year. This is not a toy. That’s a lot of money.
Now that a major Ethereum update has gone live, only 13% is available for people to buy. It’s no wonder the price is going parabolic.
Ethereum is what Facebook, Google, Netflix, and Amazon were more than a decade ago. Most people haven’t realized it yet.
Limited supply equals growth.