Decentraland (MANA) soared past the $1 mark after partnering with Versus Entertainment, the company behind the crypto film titled “The Infinite Machine.” This is a great development for the crypto industry in general as the film will touch on NFTs and the metaverse.
In the meantime, the film has given Decentraland, NFT, and other metaverse tokens a boost. The cryptocurrency industry needs good news and developments to bring new eyes to the space. This will benefit many projects such as Sandbox (SAND) and CashFi (CFI), a new DeFi project which has entered the presale stage.
Decentraland and The Infinity Machine
The Infinite Machine is a film adapted from a book of the same name written by Camilla Russo. It tells the story of Vitalik Buterin, the co-creator of Ethereum, the most used blockchain in the world.
Decentraland (MANA) is a virtual reality platform that allows users to create and monetize their content or applications. Users of the virtual land platform can buy plots of land that they can treat like real estate because they can develop or sell it. Decentraland was launched in 2017 after raising $24 million in an initial coin offering (ICO). Decentraland has two tokens. MANA is an ERC-20 token and LAND. The LAND token is an ERC-721 non-fungible token acquired by burning MANA tokens. The value of MANA is tied to Decentraland. The partnership with Versus Entertainment is a big win for Decentraland as the platform is expanded by users.
The Infinite Machine film will incorporate the metaverse and there are plans to launch the film’s NFTs. If the conditions further improve in the cryptocurrency market, MANA’s price will likely go even higher due to this deal and the visibility it has given to the project. This is a great marketing opportunity for Decentraland and the crypto space as a whole.
As crypto slowly makes its way to Hollywood, it has the potential to onboard more users. In the case of Decentraland and The Inifinite Machine, this could indirectly benefit other NFT and metaverse projects.
CashFi is a liquid staking DeFi protocol. It chose liquid staking because it gives users instant access to their tokens. The DeFi platform has also ventured into non-fungible tokens. CFI NFTs will be integrated into CashFi’s ecosystem. CashFi is capitalizing on the NFT frenzy and the success found by cryptocurrencies such as ApeCoin. CashFi will establish CFI NFTs and these will give users the ability to mint and trade cross-chain NFTs.
SandBox is a virtual world that allows users to create and sell digital assets in the form of a game. This gaming community brings together the power of NFTs and decentralized autonomous organizations. Sandbox introduces blockchain and decentralized protocols to gaming. SAND is the native token of Sandbox.
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The cryptocurrency market usually needs a trigger to spark a price surge. Decentraland’s deal with Versus Entertainment could be a game-changer for metaverse and NFT projects. These projects have taken a knock and need a catalyst to push them to the upside. The biggest advantage for these projects is the exposure that the metaverse and non-fungible tokens will get.
Some people see crypto and NFTs differently. Creators and artists see non-fungible tokens as a way of monetizing their content and this gives them an incentive to try it. Celebrities and athletes have backed NFT projects such as the Bored Ape Yacht Club. CashFi is very young and still raising funding. Its CFI token might as well benefit from a surge in NFTs and DeFi.