The crypto winter 2022 has caused shockwaves that severely affected the prices of cryptocurrency tokens. The bear market is in full gear and investors are quite weary because of the volatile price movements. Although it seems like the market is unstable, there is an opportunity for investors to purchase cryptocurrency tokens at cheap prices. Furthermore, investors can remove poorly performing projects from their portfolios.
The bear market is a time for investors to reexamine their strategies and get their portfolio ready for profits when the markets stabilize. Before making any new investments, investors should ensure that they conduct thorough research before investing in any projects. This would protect them from investing in cryptocurrency projects without solid fundamentals.
Three cryptocurrency projects you should watch in the crypto winter of 2022 are: STEPN (GMT), ApeCoin (APE), and MetaCryp Network (MTCR). These three crypto projects provide utility for their communities and have become ingrained in the crypto ecosystem. In addition, they have shown signs of a rebound in prices once markets stabilize. Here is a brief summary of each of these projects.
Real Democracy With STEPN (GMT)
STEPN (GMT) uses crypto and the blockchain to incentivize its users to exercise. The project is a Web3 lifestyle app that incorporates GameFi elements to reward its users for physical activities. Furthermore, STEPN also uses Play-to-earn which it calls “move to earn”) to reward users with GST tokens. These tokens can also be used to purchase NFT sneakers on the platform. After activation, the sneakers allow users to earn rewards for activities like: walking, running, or jogging.
GMT is the governance token of STEPN. It allows token holders to propose changes and vote on other member’s proposals. STEPN uses GPS technology powered by the blockchain to ensure that its users do not cheat or game the system. The GST token is used for transactions on the platform. In addition, users earn GST depending on the type of sneakers they purchase.
Community First – ApeCoin (APE)
ApeCoin (APE) is the utility token of the APE ecosystem. It is used for both transactions and also acts as the governance token of the ecosystem. In addition, ApeCoin is built using the ERC-20 token standard of the Ethereum Blockchain. The initial supply of the APE was airdropped to Yuga Lab NFT holders (At the time, primarily Bored Ape Yacht Club). This brought them fully into the APE ecosystem. In addition, the token is a central part of Yuga Labs’ plans to create a decentralized web 3 company. The APE Supply is capped at 1 billion tokens and it is secured using a proof of work (PoW) consensus mechanism.
The ApeCoin DAO controls all the decisions of the APE ecosystem and eligibility into the DAO is the APE token. Token holders decide the future of the ecosystem. In addition, the APE Foundation is responsible for executing proposals that have been voted and passed by APE holders. Furthermore, Yuga Labs has purchased the Crypto Punks collection further expanding the APE ecosystem.
As The Metaverse Arrives All Eyes Are On MetaCryp Network (MTCR)
MetaCryp Network (MTCR) is a decentralized 3D metaverse built on the blockchain. The project will create a safe space where members can freely play, interact, and build safe communities. MetaCryp Network will use blockchain technology to build a safe and inclusive metaverse without ant censorship or control In addition, MetaCryp Network will use its DAO to empower its decentralized community and allow them to make decisions regarding its metaverse platform.
The MTCR token is the utility token of the platform. It would allow users to perform transactions within the ecosystem and also be used as the governance token. The MTCR token would power different commercial activities within the metaverse including selling, buying, swapping, and trading within its metaverse. MTCR would also promote the growth of the metaverse by allowing users to take action.