12 October,2022 11:39 AM IST | Mumbai | BrandMedia
And while Bitcoin has been on everyone's mind, the first cryptocurrency by market capitalization is just the tip of the iceberg, with many projects pushing the technological frontier of blockchain and other adjacent industries to new boundaries.
The widespread adoption of cryptocurrencies worldwide and their maturing ecosystems have paved the way for what is known as community or social tokens.
Many analysts believe that the future of the crypto industry lies in the combination of social tokens and NFTs, which could be transformative not only for the creator economy over the coming year but of our general understanding of how organizations are structured. In today's editorial, we will consider three tokens, Rocketize, ApeCoin and Ethereum, where the community plays the leading role in their development.
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While initially, ApeCoin was airdropped to the holders of Bored Ape Yacht Club (BAYC) NFTs in early 2021, the token has skyrocketed in popularity. Centered around the community of bored ape enthusiasts, ApeCoin has stretched its influence far beyond its initial audience. Most notably, the token was adopted as the payment method for the renowned house Gucci, eyeing to dominate the fashion industry.
However, the cherry on top of this project is the upcoming metaverse game Otherside, which is currently developing. Otherside is a gamified, interoperable web 3.0 platform that blends several multiplayer role-playing games online and is supposed to increase awareness about this unique community. At the time of writing, analysts predict a potential 25% rally in the NFT token as large wallet investors resume double-downing on it this week.
Ethereum is probably the token to make a list, as community support is encrypted inside its source code. Ethereum blockchain enables developers to build virtually any application on top of it, with ETH acting as fuel in this process. This is why it is not just the second-largest cryptocurrency by market capitalization but also the first proof that a decentralized organization could be sustainable in the long run.
And while all the cards are on the table for Ethereum to prosper, the current market conditions tell a different story. In fact, many analysts believe that 2023 is the right time to purchase ETH, as its price will continue to decline until the end of the year.
Although Rocketizie has only recently entered the space race, it has already earned love and support among the crypto flock. While this project aims to bring DeFi and DAO to the mainstream, this is not the only objective in pursuit.
According to the project's White Paper, it has secret plans for modest space projects that will be announced in the upcoming presale stages. However, it would not be a social token without the support of the crypto community around it. Indeed, what fuels this facet of Rocketize Token in its entirety is its community, which acts as the project's Emblem.
The project's native token, JATO, would serve as the main currency for engaging with the broader Rocketizie ecosystem. And with each transaction involving the JATO Token is subject to a tax of 2%. The tax will be distributed among the token holders proportionally to the amount owned.
Each of the aforementioned tokens deserves attention in its own right. Ethereum is the heavyweight of community tokens, sustained and pushed forward by the support of Ethereum believers.
ApeCoin, on the other hand, despite starting as a social token, progressed into becoming a viable medium of exchange for merchants with eyes on the metaverse as the final destination.
Meanwhile, the Rocketizie project represents a careful balance between the community around it and the services offered. Watch out for these projects, as they will dominate the crypto space race for many years.
Rocketize Token (JATO)
