CNBC analyst Brian Kelly shares 3 metaverse coin projects that can be closely watched in 2022 and where he expects big price movements. Let’s take a look at Kelly’s analysis and expectations.
Analyst focuses on growth rate of metaverse coin ecosystem
Brian Kelly, CEO of BKCM, said in his recent CNBC Fast Money appearance that the 3 metaverse coin projects will explode as they become more popular. According to the analyst, the first of these, Decentraland (MANA), may rise to do the same with the explosion of social media giant Facebook’s stocks. Kelly bases his predictions on a very simple equation:
In Decentraland you can buy real estate, shop windows, do many different things virtually. And the currency of this virtual world is MANA. About the network effect, just like Facebook’s growth, the price of Facebook stock has gone up. As these networks grow and these virtual worlds grow, the underlying currency needs to grow to serve the underlying economy.
Analyst points to a play-to-win ecosystem
Next up is Axie Infinity (AXS), a decentralized gaming universe where players can earn and trade cryptocurrencies by playing. The analyst shares how AXS will gain value with the growing metaverse ecosystem:
This is a play-to-win game. This year he really hit the scene like gangsters. And it’s all about the network effect. As this game continues to grow, the value of AXS will increase with this network.
As Somanews, Kelly’s last choice is Sandbox (SAND), an Ethereum-based blockchain game ecosystem. The CNBC analyst says that, like other metaverse coins, going mainstream will raise the price of SAND:
As the sandbox network grows, the currency will tend to grow with it to serve the underlying economy.
Sandbox (SAND) is trading at $5.91 at the time of writing. SAND has increased by over 16,800% over the past year.