The “Metaverse” is a shared digital space that integrates real-world elements such as ownership, identity, and financial value. Metaverse Index is a project that allows you to make investments in the development of this digital sector.
Index Coop’s Metaverse Index is an assortment of tokens designed to take advantage of the shift in entertainment and sports to the virtual realm. MVI and ERC-20 token represents the index.
MVI is a way to invest in Metaverse. It allows you to access a variety of protocols instead of just one.
Keep reading for all the details Metaverse Index (MVI), and how to purchase Metaverse Index from CoinStatsIt is as easy as taking a few steps.
What is Metaverse Index (MVI), and What Are You Looking For?
Metaverse Index (MVI), a virtual economy index powered by NFTs, blockchain technology and cryptocurrency, is designed to track the trends of entertainment, sport, and business moving to virtual environments.
MVI Tokens: Inclusion Criteria
To determine tokens that are eligible for inclusion, the index uses a specific methodology. For each token to be accepted in MVI the following requirements must be met:
Ethereum Token: Tokens must be accessible on Ethereum Blockchain. This requirement may be modified if the Set Protocol infrastructure is multi-chain.
History: Protocol must be in operation for at least three months. Tokens should have an average price of $3 and a history of liquidity over the past 3 months.
Market CapitalizationIt must exceed $50 million in circulating capitalization.
Liquidity:It must be able to trade on Ethereum with reasonable and consistent liquidity.
Protocol CategorizationYou must place the protocol in any of these token categories: Entertainment, Virtual Reality or Augmented Reality. There will be more markets as they grow.
Staking:The launch index will not allow tokens to be staked. As liquidity grows and staking is a safer way to make income, this may change.
Security:An independent security audit should be conducted on the protocol, and the results must then have been verified by the product methodologyologist. The methodologist will make a subjective evaluation of the protocol, based on criteria mentioned above and discussion with the team.
Maintenance Index
Methodologists maintain the index’s quality by monthly maintenance, divided into two phases:
Phase of determination: In the second week of each quarter, inclusion criteria are evaluated again and tokens added to or deleted from the index computation are determined accordingly.
Rebalancing Phase: After the end of the determination phase, index composition will be changed to reflect the new weights within the first week or the second quarter.
As of April 2022, Rebalancing:
Illuvium (ILV), Axie Infinity(AXS), The Sandbox [SAND], Decentraland[MANA], Enjin [EFI], Rally (RLY], WAX (WAXE], Audius (AUDIO], Yield Games[YGG], Decentral Games[DG], Whale] (WHALE), Terra Virtua Kolect (“TVK”), Ethernity Chain (“ERN”), Rarible (RARI), NFX (NFTX), REVVVVVVVVVVVVVVVVVVVVV], REVVVVVVV), REVVVVVV), REVVVVVVVV), REVVVVVVVXXXXXXXXXXXXXXXXX (REVV), REVVVVVVVVVVXXX), REVVVVVVVVVVVVVVXX (NFTX), REVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVXXX (NFTX), REVVVVVVVVVVVVVVVVVVVVVVIVIVIVVVVVVVVVVVVVVVVVVVVVVVVVVVVV
MVI Advantages
Simplicity: MVI is an easy solution that captures a wide market trend based on the Metaverse. It doesn’t require you to continuously rebalance your portfolio or to do research.
Risk Management:An index helps reduce volatility in individual tokens.
Cost-effectiveness:Lower gas prices than buying or selling tokens in isolation.
Transparency: The index uses transparent rules to determine whether tokens are included or removed.
Where Can You Buy Metaverse Index (MVI)
$MVI can be purchased at app.indexcoop.com/mvi and is available on both Ethereum and Polygon. Just connect to your wallet, and you can swap ETH with MVI. It can be purchased on major crypto exchanges like Crypto.com and eToro, or decentralized markets like Uniswap.
Metaverse Index has joined forces with the Set Protocol, enabling the creation, maintenance, and trading of “Sets,” baskets of ERC-20 tokens representing a portfolio of underlying assets.
How to Buy Metaverse Index from Coinstats
Certain cryptocurrencies like the Metaverse Index can only be purchased on decentralized exchanges that are linked to another cryptocurrency. To buy Metaverse Index, you must first buy Ethereum (ETH) and then use ETH to buy Metaverse Index (MVI).
You can use credit/debit card or bank transfer to buy Ethereum at popular crypto exchanges, such as Coinbase and Binance.
Let’s learn how to buy Metaverse Index on CoinStats:
Step 1: Connect your wallet
Visit coinstats.app to search for Metaverse Index (MVI), Price, using the search bar. Scroll down to the “swap” features and connect the wallet where you store ETH tokens.
Once you click on the “Connect” button, you’ll see various wallet choices offered by CoinStats. Find your wallet, and then connect it.
Connect it via WalletConnect by scanning QR codes or manually adding Blockchain/Crypto or Wallet addresses to your website or mobile app.
Step 2: Choose a Token
After linking your wallet successfully, you can choose which token to trade by entering data in USD/EUR or cryptocurrencies.
As an example, you could swap ETH with MVI (or buy Metaverse Index MVI (ETH)).
In the “From” field, select the ETH token from your wallet, and in the “To” field, select “MVI.”
Step 3: Click on Swap
To change slippage or gas settings, click on Advanced Options. When you’re finished with customizing, scroll down to the bottom of your screen and click the “Submit Swap” button.
After you’ve submitted your swap request, you’ll be prompted to confirm it. To begin the swap, review the information displayed on your web or mobile app screen, and click the “Confirm” button.
The transaction has been processed. Gas parameters will affect the speed of your transaction. You can trace your transaction from the loader at the bottom right corner or the wallet’s home page.
NOTE: You’ll be charged Network Transaction fees, also known as gas fees. It is the cost to make a blockchain transaction. The gas fees are charged in the currency that is native to the network. In other words, Ethereum for Ethereum. CoinStats charges an additional swap fee.
Optional: Step 4: Buy a wallet
The next step is to select a cryptocurrency wallet for your coins. While your coins may be stored in your broker exchange wallet, we recommend that you create a private wallet using your unique set of keys. You can choose between software and hardware wallets depending on what you prefer for investment. The latter is more secure.
Also known as cold storage or hardware wallet, a physical device which stores private keys that are required for receiving and sending cryptocurrency is called a hardware wallet. Because they provide offline storage and lower hacking risk, hardware wallets are frequently regarded as being the best option for storing your cryptocurrency. Hardware wallets are password protected and can erase any data after repeated failed attempts. This prevents physical theft. The hardware wallets allow you to sign and confirm transactions on blockchain, providing an added layer of security from cyber-attacks.
The most secure and reliable hardware wallets for users are the Ledger wallets. Ledger NanoX is ideal for crypto traders who are experienced and have the ability to store multiple assets, such as DPI tokens.
Software wallets, however, are the easiest to use and allow you to instantly interact with many decentralized finance applications (DeFi). Because software wallets are stored online, they can be subject to security breach. To avoid security breaches, ensure you do your research before using a software wallet. For added security, it is a good idea to use 2-factor authentication.
Closing Thoughts
MVI currently has a value of $50.26. This is 85.3% lower than its November 2017 high of $354.73 and a record low of $55.23. But it’s not all bad news; the token is still up 71.6% from its low of $29.28 in June 2021.
To summarise, MVI’s first 6-months have been a frenzy. Even though the Metaverse concept has had a poor six-months, we are still optimistic. The massive social migration to digital space will eventually result in Metaverse’s global economy 2.0, operating on Ethereum and linked to DeFi.
Positive indicators of product-market match in MVI are positive. We believe some liquidity issues will eventually be solved. Final verdict: The Metaverse cannot be avoided.
Our CoinStats blog provides information about crypto exchanges, wallets as well portfolio trackers and tokens. We also offer in-depth buying guides that help you buy various cryptocurrency, including How To Buy STEPN, What is DeFi, How To Buy Cryptocurrency.
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