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Cardano Surges Following Metaverse Debut

CryptocurrencyJan 18, 2022 16:00
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By Oliver Gray 

Investing.com - Cardano, the fifth largest cryptocurrency by market capitalization, was up 7.74% in Tuesday’s trade, lifting 30% over the past week after the recent launch of Pavia.io, a metaverse application for the Cardano blockchain, with advocates believing that it will be a strong competitor for existing Ethereum metaverse protocols such as The Sandbox and Decentraland.

In total, 100,000 plots have been minted as non-fungible tokens, each being minted as a unique NFT with coordinates. More than 60% of the land parcels were pre-sold in October and November last year, with the remaining assets slated to go on sale in the current quarter.

Pavia has more than 8,300 landowners according to the official website, but users are currently unable to visit or deploy content onto their respective land parcel. The platform revealed that the team was working “to deliver the in-game Pavia experience.”

Similar to other metaverse projects, Pavia also has an in-game currency – PAVIA – used for utility purposes inside its metaverse ecosystem. 25% of this native token was airdropped to Pavia NFT landholders right after a blockchain snapshot in December 2021.

Among other cryptocurrencies, Bitcoin was down 1.46%, Ethereum dipped 2.68%, Binance Coin lost 2.94%, Solana fell 3% and XRP declined 1.29%.

Cardano Surges Following Metaverse Debut
 

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