The cryptocurrency market is widening its perspectives exponentially and adding more and more cryptos to its ecosystem. Therefore, choosing a cryptocurrency that offers more value to your money is very challenging.
This article introduces you to five new cryptocurrencies that may reward you over time. It helps you get an overview of what they are, their use cases, tokenomics, and more.
What you'll learn 👉
ApeCoin, or APE, is an ERC20 token introduced in March 2022 by the founders of BAYC (Bored Ape Yacht Club) called Yuga Labs, a blockchain technology company in Delaware. The total supply of ApeCoin is 1 billion tokens, and its main trading centres include Binance, Coinbase, Kraken, and more.
ApeCoin aims to accelerate the growth of the web3 ecosystem, eCommerce, NFTs, and more. It also promotes P2E games, especially Benji Bananas to make payments, rewards, and incentives.
ApeCoin Use Cases
Being affiliated with the Bored Ape ecosystem, ApeCoin allows you to access the metaverse of games and merchandise. The use cases of ApeCoin include the following:
- Governance: As a governance token, it allows you to vote for the operations, protocol decisions, projects, etc., within the APE ecosystem.
- Utility: ApeCoin can be used as a utility token for products, services, and more.
- It facilitates access to the APE ecosystem’s exclusive features, including games and events. It’s also used to give incentives and rewards to increase ecosystem participation.
Tokenomics of ApeCoin
The approximate market cap of APE is 1.6 billion USD, and it’s one of the world’s 50 cryptocurrencies. Considering its use as a payment option and the access it provides to the exclusive features of the APE ecosystem, investing in APE over other altcoins is worth it.
Sporty is a web3 protocol introduced in 2022, and it’s a blockchain platform for casino games and sports betting, stake NFTs, trade NFTS, and more. Sporty has lots of features that make it different from other altcoins. Below are some significant features of Sporty:
This feature allows you to bet on sports that you love most and win Sporty tokens. Sporty’s betting platform includes Football, Soccer, Basketball, etc.
Sporty offers a live casino to play your favourite casino games like baccarat, blackjack, craps, roulette, poker, and more, and win Sporty tokens.
Sporty provides you with insurance NFTs that keep you away from losing your money. If you lose on a bet while holding insurance NFT, Sporty refunds your money back. However, it depends on the NFT Tier you already have.
Tokenomics of Sporty
The total supply of Sporty tokens is 1 billion, and its circulating supply is 280 million with a market cap of $0.
Theta is a native cryptocurrency launched by Theta Labs, a US-based decentralised video delivery network, along with TFUEL tokens to run its operations on the blockchain. Theta Labs intends to reduce the cost of video streaming by establishing a network of shared content instead of using CDNs (Content Delivery Networks) to stream videos.
This decentralised video delivery network uses the Theta coin as a governance token as it allows you to participate in the governance of the Theta network. You can earn Theta tokens as rewards for your contribution to its decentralised video content delivery network.
How do you use Theta Tokens?
Theta tokens are also used to stake as validator and guardian nodes. To become a validator node, you must stake a minimum of 1,000 Theta, and it enables you to verify, maintain, and vote on the transaction record.
A guardian node allows you to seal on blocks and check on malicious validator nodes. You have to stake a similar 1000 Theta in your Theta wallet along with a minimum of one TFUEL token, which is essential to pay the transaction fee, to become a guardian node.
TFUEL is a utility token in the Theta blockchain that powers all operations through payment and acts as the gas token, the transaction fee associated with NFTs and DeFi applications.
Tokenomics of Theta Network
The market cap of Theta is 1.17 billion USD, and it has a maximum supply of 1 billion tokens. Whereas the market cap of TFUEL is 290 million USD with a circulation of more than five billion tokens.
Lamea is an Austria-Hungarian investment token launched by Hungarian Vizsla Inu and runs on BNB Smart Chain rather than Bitcoin or Ethereum. It was established in 2019 to promote health awareness along with a charity purpose.
Lamea is a sandwich shop, and they introduced crypto to make you aware of fast food and its ingredients. You can use the Lamea token to make payments in the Lamea food stores. It’s also planning to introduce a virtual NFT gaming platform to make people relaxed in their everyday life.
Tokenomics of Lamea
They aim to develop a crypto community with people who have a strong desire to help organisations that help people save and improve their lives. Although it has high priority, its market cap is 0, and the total supply limit is 1 billion.
Battle Infinity or IBAT is a BEP20 token launched in 2022 that integrates P2E games intending to revolutionise traditional gaming. It provides you with complete ownership of in-game items in the IBAT ecosystem. The marketing experts Suresh Joshi and Jagjeet Jena from India are the founders of IBAT.
Battle Infinity has a range of products that help them to attract more investors. Following are some of them:
Battle Infinity hosts a range of P2E games, including cricket, basketball, football, and more. In which you can build your own team and compete with others across the world and win IBAT tokens by winning the games.
Battle Swap acts as a bank entity within the ecosystem that facilitates you to convert your IBAT tokens and NFTs to your preferred currency.
IBAT Premier League
Battle Infinity organises IBAT Premier League, the world’s first premier league on a blockchain NFT-based platform.
Tokenomics of IBAT
The total supply of IBAT is 10 billion against the circulating supply of 350 million tokens. The market cap of 12.11million USD.
Top Reasons for Appearing New Cryptocurrencies
Here are some top reasons for introducing new cryptocurrencies:
- Blockchain technology is the most significant reason for introducing new cryptocurrencies day by day. It allows developers to create new cryptocurrencies for a wide range of sectors such as finance, health, games, and more.
- The unexpected and massive returns from Bitcoin and other altcoins attracted many to develop new cryptocurrencies.
- Innovation and eagerness for the advancement of society are other reasons behind the emergence of cryptocurrencies
Does New Mean Better?
The emergence of altcoins does not mean they are better than the existing cryptos. The success of a cryptocurrency depends on how it serves society. The use cases of a cryptocurrency are the most significant factor when considering its success.
If a token can solve the problems faced by the real world, it may attract more investors. Tokenomics is another factor which explains if a coin is more in circulation, there’s a chance to increase the value of that specific coin.
Potential Roles for Cryptocurrencies
Based on reports conducted by Adina Minculescu, head of content at CasinoAlpha, the role of crypto payments and services will continue to expand. They are taking over in the online casino and gambling spaces but their evolution is far from being restricted to just one industry.
She confirmed that although cryptocurrencies are famous for instability, their popularity and benefits provide them with a great future. Online casinos are not an exception to this blockchain technology. Here are some reasons that make you opt for cryptocurrency casinos:
The decentralisation of online casino platforms began to influence a large volume of players worldwide. Cryptocurrency casinos offer privacy as it only requires a wallet address and destination tag instead of personal and financial details to make deposits.
It avoids troubles that may arise due to gambling transactions.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com