The “Metaverse” is a shared digital space that integrates real-world elements such as ownership, identity, and financial value. You can invest in this sector’s evolution by joining the Metaverse Index Project.
Index Coop launched the Metaverse Index. This is a set of tokens that capitalize on the growing trend for entertainment, business, and sports shifting to the virtual world. MVI and ERC-20 token represents the index.
MVI allows investors to make investments in the Metaverse. Instead of relying only on one token, MVI gives them access to multiple protocols.
Continue reading to find out everything about it. Metaverse Index (MVI) and How to Buy Metaverse Index On CoinStatsIt is as easy as taking a few steps.
What Is Metaverse Index?
Metaverse Index is a virtual economy indicator driven by NFTs (and blockchain technology) that captures the trend in entertainment, business, and social activity shifting to a virtual world.
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: It should be operational for at most 3 months. The token must also have a price history of 3-months and liquidity history.
Capitalization of the Market:Capitalization of the circulating market must not be less than 50 million.
Liquidity:A token should have consistent and reasonable DEX liquidity in Ethereum.
Protocol CategorizationIt must appear in one of the following categories on Coingecko tokens: Entertainment, Virtual Reality and Augmented Reality. More categories will be added as the market expands.
Staking:The launch index will not allow tokens to be staked. These rules are subject to change with increased liquidity and as staking becomes an income-generating method that is safe,
Security:An independent security audit should be conducted on the protocol, and the results must then have been verified by the product methodologyologist. If there is no audit available, the methodologist assesses the protocol subjectively based upon the above criteria and conversations 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: The index composition will adjust to the new weights after the completion of the determination phase. This happens in the first week next quarter.
As of April 2022, Rebalance:
Illuvium, Axie Infinity and The Sandbox (SAND), Decentraland and (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), REVVV (REVVVVVVVVVVVVVVVVVVVVVVVVVVVVVVXXXXXXXXXX (NFTXX), REVVVVVVVVVVVVVVVVVVVVVVXX (REVVXXX), REVVVVVVVVVVVVVVVVVVVVVVVVVVVXX), REVVVVVVVVVVVVVVVVVVVVVVVVVXX (REVVVVVVVVVVVVVVVVVVVVVVVVVVVX (REVVVVVVVVVVVVVVVVVVVVVVVVVV
MVI Advantages
Simplicity: MVI, based on the Metaverse concept, is a quick and easy way to catch a wide market trend without the need to constantly rebalance or research a portfolio.
Risk Management:The volatility of individual tokens is reduced by holding an index.
Cost-effectiveness:There are lower gas costs than buying and selling tokens individually.
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
You can’t acquire certain cryptocurrencies such as Metaverse Index on decentralized platforms that exchange with other coins. 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. Connect your wallet by searching for it.
It can be connected by scanning the QR code via WalletConnect, or manually entering the Blockchain/Crypto address and Wallet address into your mobile or web application.
Step 2: Pick a Token
Once you have successfully linked your wallet, select the token that you wish to exchange by entering the data in either cryptocurrencies or USD/EUR.
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
For more options, click 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. Based on what gas parameters you choose, the speed of your transaction may vary. 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. Gas fees can be described as being paid in the local currency of the network. For example, Ethereum is used for Ethereum transactions. CoinStats may also charge a swap fee.
Step #4: Optional purchase of a wallet
Next, you will need to choose a wallet that can store your crypto coins securely after your Metaverse Index purchase is complete. 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.
Hardware wallets, or cold storage, are physical devices that store the private keys required to send and receive cryptocurrency. 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 protection from cyber-threats.
The most secure and reliable hardware wallets for users are the Ledger wallets. Ledger NanoX can be used by experienced traders to store a variety of assets including DPI tokens.
Software wallets, however, are the easiest to use and allow you to instantly interact with many decentralized finance applications (DeFi). Software wallets can be vulnerable to security vulnerabilities because they are online. You should do your due diligence to ensure security. 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, which was 354.73 at the time. 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. We remain optimistic about Metaverse’s concept, despite the disappointing performance over the past six months. 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. The Metaverse will always be there.
To learn more about cryptocurrency exchanges and portfolio trackers as well as tokens and wallets, visit the CoinStats blog. You also have access to our detailed buying guides for various cryptocurrencies such how to buy STEPN, DeFi, or How to Buy Cryptocurrency.
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