Welcome to the Metaverse.
In November 2021, hot off the heels of Facebook’s conceptual land-grab with a name change to ‘Meta’, blockchain tokens with Metaverse utility saw an unprecedented bull run. Even in a generally buoyant market, tokens like $MANA, $SAND, and $ENJ ripped through all-time highs (and then some). The general public, both crypto literate and not, started tapping into the universe of value inherent in Metaverse tokens, and the possible future world where digitized reality supersedes the real one.
Plug in, switch off, play forever: the unreal is now all that matters.
The Rise of Metaverse Coins
With such accelerated growth there came, very shortly after, a profusion of tokens that all claimed to have metaverse-worthy credentials. Some of these were very valid, with Play-to-Earn tokens like $AXS and $YGG burnishing their metaverse credentials. It is clear that the market has spoken though… Metaverse tokens: so hot right now.
With the creation of strong new market categories often comes a desire to invest in all of them at once. This is the notion behind an index token. Index tokens are not new. One of the first was $DPI, or the DeFi Pulse Index, a coin whose value tracks the performance of a basket of the top DeFi protocols. These are great coins to invest in if you believe in the general upward trend and health of a specific sector but aren’t sure which to invest in. Index Coop, which is responsible for $DPI, is also responsible for the creation and management of $MVI.
An Index Token for the Metaverse
$MVI is a token exactly in this vein. Provided by Index Coop, a company that runs several easy-to-buy crypto index tokens that have their own token, $MVI is an index token, whose value correlates with the basket of ERC-20 compatible metaverse coins it tracks and holds. The criteria for the $MVI token is as follows. It must exist on Ethereum as an ERC-20 token, it must have a market cap of over $50 million, have three months (at least) history of operation, and have good liquidity on Ethereum DEXs. The tokens are also required to be audited. It must also have one of the following token categories (using CoinGecko as its barometer): Non-Fungible Tokens, Entertainment, Virtual Reality, Augmented Reality, or Music. Going forward IndexCoop will add more categories as appropriate.
Currently Underlying Tokens of the $MVI Coin
The current protocols with tokens underlying $MVI are as follows: Audius, Axie Infinity, Decentral Games, Decentraland, Enjin, Illuvium, Yield Guild Games, NFTX, Rarible, Ethernity Chain, REVV, Sandbox, Terra VirtuaKolect, WAXE, and Whale. Like any good index, these tokens are reviewed regularly and weighted appropriately on their potential value added to the fund. The underlying tokens are rebalanced the first week of every month.
The Future Isn’t Real
The potential of the Metaverse is only just being tapped into. Advancements are being made constantly, and the current state of the market makes it difficult to predict which protocols will ‘win’, and which services will end up being a dominant webway for humanity’s virtual transcendence. Index Coop’s $MVI makes investing in the metaverse easy, as the basket of coins represents the current top players. If you trust Index Coops ability to manage the coin’s underlying tokens, and if you’re a firm believer in the viability of the metaverses that are sure to grow over the coming years, then this ERC-20 token is a sensible investment.
How can I get MVI?
Getting MVI is easy on Numio. You can use your credit or debit card to purchase ETH or USDC, which can then be exchanged for MVI*, you can swap or trade it for other ERC-20 tokens (up to 100x cheaper than other wallets), and you can send or receive it as payment. Whatever way you choose you can be sure that you are always in full control of your MVI.
*direct MVI purchases coming soon.
How can I get MVI?
Getting MVI is easy on Numio. You can use your credit or debit card to purchase ETH or USDC, which can then be exchanged for MVI, you can swap or trade it for other ERC-20 tokens (up to 100x cheaper than other wallets), and you can send or receive it as payment. Whatever way you choose you can be sure that you are always in full control of your MVI.