What is Metaverse Index and where to buy it?
The metaverse has abruptly appeared in reality after appearing in science fiction, and it might do so soon. It is only a matter of time before the switch to virtual reality becomes the norm after Facebook revealed its metaverse project last year.
By providing users with access to several protocols rather than just one token, The Metaverse Index has created a novel way for them to participate in the metaverse.
The MVI, built on the foundations of blockchain technology and NFTs, intends to capture patterns in the transfer of leisure, business, and social activities towards virtual economies.
The discussion that follows provides a thorough introduction to the fundamentals of the metaverse index, or MVI, and its parts. Additionally, you can discover how to buy metaverse index(MVI) as well as information about the tokens that are now listed on the index.
What is Metaverse Index (MVI)
The Metaverse Index (MVI) is an NFT- and blockchain-powered virtual economy index created to track the movement in entertainment, sports, social interaction, and commerce to virtual environments.
Criteria for MVI Tokens’ Inclusion
The index uses a mechanism to determine which tokens should be included. Tokens must adhere to the following requirements in order to be accepted by MVI:
The token must be accessible via the Ethereum blockchain. This condition will be changed if the Set Protocol infrastructure is multi-chain.
History: The protocol should have been in use for at least three months, and the token’s price and liquidity history should go back three months.
Market Capitalization: There must be more than $50 million in the current market capitalization.
Liquidity: The token’s DEX liquidity on Ethereum must be fair and constant.
Staking: No tokens will be staked at the index launch. This could change when liquidity rises and staking emerges as a secure source of income.
Security: A third-party security audit of the protocol should have been conducted, and the results should have been confirmed by the product methodologist. The methodologist evaluates the protocol subjectively in the absence of an audit based on the aforementioned standards and team discussions.
What Tokens Are Currently Available on MVI?
The apparent concern for anyone considering investing in the metaverse index would be on the coins now supported by the MVI. Here is a list of the tokens that are currently listed in the index.
Illuvium has developed into one of the well-known Ethereum blockchain-based metaverse gaming systems. The platform’s native governance token is ILV.
Currently, the play-to-earn market is dominated by AXS, the governance token on Axie Infinity.
Another significant inclusion on the current Metaverse Index chart is ENJ, which is used as a utility token to fuel Enjin’s NFT economy. The development, trading, and monetization of gaming NFTs can be aided by the ENJ token.
Decentraland is a pioneer among metaverse systems, and its MANA coin is one of the prominent entries in MVI.
The Sandbox SAND token, a community-driven metaverse platform, is a high performer in the MVI index for its contribution to the gaming industry.
Where to Purchase Metaverse Index? (MVI)
At app.indexcoop.com/mvi, $MVI can be purchased and is accessible on both Polygon and Ethereum. Simply switch ETH for MVI by connecting your wallet.
Additionally, you may purchase it on well-known cryptocurrency exchanges like Cryptobbc.com and eToro as well as on decentralised marketplaces like Uniswap.
Together, Metaverse Index and the Set Protocol have made it possible to create, manage, and trade “Sets,” which are collections of ERC-20 tokens that represent a portfolio of underlying assets.