In this article I am going to be providing information about and reviewing the Metaverse cryptocurrency. I will weigh up the pros and cons of the coin to help you decide if this is a coin you should be using or investing in.
A special thank you to @1funkycat on Twitter for the suggestion of Metaverse.
What is Metaverse?
Metaverse is basically a blockchain based in China.
In their own words, they “facilitate low-cost, convenient transfer of digitized personal data and assets with unprecedented security and privacy”.
Their aim is to change the way that financial services and transactions are processed. They also aim to improve upon old and inefficient identity verification services with a network of Digital Assets, Digital Identities and Oracle Intermediaries.
The token used by the Metaverse blockchain is ETP.
Analysis of the Metaverse ETP token
There is a maximum allocation of 100,000,000 ETP tokens.
Similarly to Bitcoin, the ETP token can go as far as 8 decimal places, meaning the lowest denomination is 0.00000001 ETP.
25,000,000 of the tokens were sold to the ICO investors.
Another 25,000,000 has been assigned to the Metaverse Foundation to support projects, assist with investment into the ecosystem and reward those that contribute heavily in the Metaverse community.
30,000,000 are available through Proof of Work (PoW) mining.
How active is the community?
The Metaverse community appears to be pretty active.
Their subreddit seems to have regularly contributions and discussions.
They also have a Telegram channel, that when I have checked it, is extremely active. However, it does seem to contain a lot of discussions about other cryptocurrencies.
Metaverse also has Twitter, Facebook, YouTube, Instagram, Medium and a Discord channel. So they’re well versed in the social media aspect of things!
How strong is the team?
The one fault I can find in Metaverse is that they don’t provide a lot of information on the team.
Sure, their website names the team members, but it does not list their experience, knowledge, visions etc.
As a result of this, I cannot reliably determine how strong the team is.
What is in the Metaverse roadmap?
You have to do a bit of digging to find the roadmap, but it can be found on their Medium here in one of their progress updates.
The downside of this for me, is that they only seem to have supplied two lines of text for early 2018. There is also nothing beyond this.
If I am investing money into a token, I want to know what is happening further down the line.
How has it done so far?
In the short time the ETP token has been around, it’s seen a huge range in value.
It’s highest point being around $6.25 USD back in the middle of October 2017.
The lowest point it reached was actually $0.30 just a month or so earlier than that all-time high in early September 2017.
Check out the price history chart below.
- Maximum allocation of tokens isn’t too large, meaning price per token could reach a nice level.
- A lot of activity in the community on Telegram and Reddit.
- A large amount of tokens allocated for benefitting the ecosystem and rewarding contributors.
- History of a short-term spike in price.
- Very limited information about the team.
- Price has gone as low as $0.30 in recent months.
- Lack of information about the future due to a vague roadmap.
- Not necessarily a unique idea.
Overall opinion and rating
There are some aspects of Metaverse that sparks my interest. For example, it’s trying to fix something that is definitely outdated. If they can get the proper backing in achieving this with their projects, they will certainly go a long way.
However, the killer for me is the lack of information on the team and the lack of a proper roadmap. I simply cannot determine whether the team has the experience and/or knowledge to pull it off.
Overall rating: 2.5/5
If you have different opinions or have another token/coin that you want reviewing, let me know in the comments below, or send me a tweet.
While you’re here, why not check out my other cryptocurrency reviews?