Today on Young Platform you can find Decentraland (MANA), the cryptocurrency for a virtual world.
The first listing for the Metaverse month is MANA, the Decentraland cryptocurrency. Young Platform proposes the native crypto of this virtual space, after its incredible growth linked to the rebranding of Facebook to Meta.
What is Decentraland?
Decentraland is a metaverse on the Ethereum blockchain. It is a virtual space that connects users around the world through the internet. Decentraland is divided into approximately 90,000 LANDs, virtual pieces of real estate, where you can create any kind of content. Palaces, works of art, discos: like a real world, each user can explore it, visit it and take part in events proposed by other players.
What is MANA?
Decentraland (MANA) is the cryptocurrency for Decentraland. It’s used to take part in all buying and selling activities in this metaverse. Live music shows, shops, and breathtaking resorts are only a crypto transaction away! MANA holders also have the opportunity to contribute to decisions about updates and policies in Decentraland.
Why did Young Platform decide to list MANA?
Not just FOMO: We think that the interest in MANA is not just the fad of the moment, we look at its actual growth potential! A quick fact? Between 28 and 30 October, there was a 191.2% price increase (from $0.9106 to $2.6519). We chose MANA to focus on the future of the Metaverse and its ability to connect users in all parts of the world. MANA is the perfect token for gamers because it allows them to play using cryptocurrencies with a monetary value, unlike classic video games.
Which MANA pairs will be available on Young Platform?
MANA/EUR
Want to know more?
Don’t miss out on the Academyarticle dedicated to Decentraland out tonight
In Young Platform November is the month dedicated to Meta and the Metaverse: every wednesday a new cryptocurrency
As everyone knows by now, on 28 October Mark Zuckerberg announced the rebrandingof Facebook to Meta. The name refers to the company’s vision of creating a metaverse that brings together all its products to create a single virtual interaction space.
So these days there is nothing but talk of the Metaverse, but it is not a new concept.
The Metaverse is a dematerialised parallel world using virtual or augmented reality technologies.
In this parallel reality, you can play, create, make friends and even work. Many companies are involved in creating technologies to facilitate access to this dimension or experiment with virtual worlds’ operation.
You may have heard of Second Life, a game released in the early 2000s, seen films such as Ready Player One, or perhaps even tried a pair of VR goggles. More recently, you may remember that social distancing brought out new ways of visiting a museum or a house on real estate sites last year. Well, this is the next frontier of the Internet.
What happened in the crypto market?
If you are even familiar with the crypto and NFT environment, you will have heard of metaverse on blockchain, such as The Sandbox. Blockchain projects are even more fascinating because they make the metaverse decentralised, so its management is in the hands of the players.
This is where it gets interesting. The social giant’s announcement, in fact, had a particular effect on the small blockchain world: the price of some cryptocurrencies linked to a metaverse on blockchain went up considerably.
Axie Infinity (AXS), the largest-capitalised NFT-cryptocurrency, reached a new All-Time-High on 6 November, with 25% growth since the announcement.
The Sandbox (SAND), on the other hand, is the one that has done the most impressive numbers, with a 224% price increase from 28 October to 8 November.
It seems only right that we devote the rest of this November to the Metaverse, in all its facets, but especially on blockchain.
What’s going to happen?
There will be wednesday-listings of new cryptocurrencies on Young Platform
You will be able to read dedicated insights on the Academy
You can now buy, sell and store Polygon (MATIC) on Young Platform!
What is Polygon?
Polygon is a network and blockchain that is based on Ethereum, but has built an entire ecosystem to facilitate the development of scalable blockchain solutions. This means that instead of creating an app directly on the Ethereum blockchain, which requires high costs and relatively long transaction confirmation times, developers can use the tools offered by Polygon to create apps with the same convenience, but by paying more stable fees and being able to rely on instant transactions.
How does MATIC work?
MATIC is Polygon’s ERC-20 token, which is used to pay for network costs, hence the fees and gas needed to generate smart contracts and DApps. MATIC can also be staked in the Matic Wallet, in fact, it powers the Proof-of-Stake consensus mechanism on which Polygon’s main blockchain is based.
Why has Young Platform decided to list it?
MATIC is now ranked 19th in the crypto market. Its ecosystem has grown enormously over the last year, thanks to the migration of many DeFi protocols (and others) onto its network.
To date there are about 3000DApps on Polygon, including DeFi applications, DAOs (decentralised autonomous organisations), gaming DApps, NFT apps and much more.
Polygon is one of the main scalability and interoperability solutions on the market, which differs from the others because of its compatibility with Ethereum, from which it derives the characteristic of a wide and flexible ecosystem that can easily support any type of project.
Available pairs?
On Young Platform and Young Platform Pro you can buy and sell Polygon with the following pairs:
MATIC/EUR
Want to know more?
Read our article about Polygon on the Young Academy!
As of today you can buy, sell and store Terra (LUNA) on Young Platform!
In May 2022, a collapse of the Terra’s ecosystem occurred, negatively impacting both TerraUSD and LUNA. This article was written before the event, so before reading it, we encourage you to learn more about the situation and stay updated. In general, Young Platform articles are intended for informational purposes only and do not constitute financial advice.
What is Terra?
Terra is a blockchain for global and decentralised payments. Numerous decentralised financial services and stablecoins are based on the Terra blockchain.
Terra-based stablecoins, such as UST and KRT, maintain their peg to the US Dollar and Korean Won thanks to an algorithm.
This means that they do not need to be backed by reserves of any kind, with the complications this would entail.
How does LUNA work?
LUNA is the main cryptocurrency of the Terra blockchain. In order to contribute to the blockchain, participate in governance and stake on Terra, it is necessary to have LUNA.
These many functions of LUNA encourage its demand in the market.
Why has Young Platform decided to list it?
From August 15th to 21st the price of LUNA went from around $16 to the all-time-high of around $36, making headlines on any crypto news website.
Terra (LUNA) is now ranked 16th on the cryptocurrency market.
Tomorrow, September 9th, Terra will launch an update to its blockchain (Columbus-5) that will add new DeFi features.
Available pairs?
On Young Platform and Young Platform Pro you can buy and sell LUNA with the following pairs:
Chiliz is an Ethereum-based project that combines cryptocurrencies and sports. Through its platform, Socios.com, it allows fans of different sports to influence certain decisions regarding their favourite team and gain exclusive advantages.
How does CHZ work?
CHZ is the official cryptocurrency of the Chiliz blockchain and the Socios.com app. Fans buy CHZ in order to be able to buy Fan Tokens issued by their favourite team, so they can vote in the surveys that the team publishes on the app.
Why has Young Platform decided to list it?
The world of cryptocurrencies and blockchain is gaining momentum in sport, especially in soccer.
Just think about club NFTs, prediction markets on blockchain, think about how many clubs are entering into partnerships with exchanges.
The idea of making fans part of the life of their teams is transformed with Chiliz into a very simple and practical blockchain use case for sports fans!
Available pairs?
Chiliz (CHZ) is available for purchase and sale on Young Platform Pro with the following pair:
As of today you can buy, sell and store Cardano (ADA) on Young Platform!
What is Cardano?
Cardano is a third-generation blockchain whose technology is based on peer-reviewed academicresearch.
Its blockchain is governed by the Proof-of-Stake mechanism, a transaction validation method that requires low energy consumption and has a highly scalable structure. At the end of its roadmap, Cardano will support smart contracts and fully decentralised governance.
How does ADA work?
Cardano’s native cryptocurrency is ADA, which supports staking, i.e. it can be used to earn rewards regularly.
Cardano has created 2 wallets for ADA, one is Daedalus, which allows you to participate directly in the blockchain by downloading its history. The second is Yoroi, which is lighter and can also be used as an app.
Why has Young Platform decided to list it?
Cardano (ADA) is the 5th cryptocurrency on the market, but during the year it was also 3rd, quickly climbing the rankings by market capitalisation.
Since the end of 2020, its price has risen very quickly, also thanks to the new possibility of staking in an increasingly accessible way.
Cardano is also a very structuredproject, both in terms of management and the long-term sustainability of its technology.
Available pairs?
On Young Platform and Young Platform Pro you can buy and sell Cardano with the following pairs:
1inch is a decentralised exchange aggregator, which is a kind of search engine that finds the lowest cryptocurrency prices to enable convenient trades for traders.
1inch also offers a yield farming feature, that allows to stake cryptocurrencies and receive regular rewards.
1inch is backed by a Foundation and its network is governed by a DAO, which is a fully decentralised and automated organisation.
How does 1INCH work?
1INCH is the governance token, which means that by staking your 1INCH tokens you can participate in votes regarding the functioning of the network. In addition, it can be used in Yield farming features to obtain regular rewards.
Why has Young Platform decided to list it?
1inch is one of those projects that the DeFi industry has been waiting for and needs. It is the first decentralised exchange aggregator on the market and offers state-of-the-art functionalities.
Available pairs?
On Young Platform Pro you can buy and sell 1inch with the following pair:
Diego: Sebastien is COO and co-founder of The Sandbox. So, can you describe to our community what the Sandbox project is all about. And if you want you can describe your role at The Sandbox.
My name is Sebastien Borget and I’m COO and co-founder at the Sandbox
The Sandbox is a gaming virtual world on the Ethereum blockchain where creators can make free assets and games and monetise them through the use of Non-Fungible Tokens, NFTs, as well as SAND, our main utility token of the platform.
We are a franchise that has existed for now 10 years. We started on mobile in 2011, we had more than 40 million players in installs back then.
Over the last 3 years we launched a sequel, a new version that this time is in 3D multiplayer, multiplatform, and it uses NFTs to allow anyone to make their own NFT and start owning the assets, owning the land where they publish the games, monetise their time, monetise their creation, trade them, exchange them, sell them, if they want, on Marketplaces.
We have more than 60 partnerships to date, including major brands that are part of our virtual world
So far the Sandbox is one of the most active communities, we are really thankful to our community and specifically to our community today for being part of this fantastic journey with us.
Diego: Thank you Sebastien, and how did the idea for the Sandbox come about?
When we founded my previous company, Mobile Games Studio. As i mentioned, the Sandbox came out about 10 years ago. There was this kind of game, called Powdergame, this game where you could play with physical elements: salt, water, steam etcetera, and it was mostly a physics simulator.
We took that idea and we said “what if we just allow any player to become the creator?” dropping elements with the touch of their fingers on the mobile screen, and share those creations online.
That’s how the first Sandbox idea started. And 10 years later, the new Sandbox, this time 3D and on the blockchain is essentially keeping all the roots from the franchise.
We want to allow anyone to make games without any programming knowledge, to just drag and drop assets, to drag and drop NFTs into a virtual world, and publish that world on the LANDs so that they can then allow players to participate in game experiences, play, earn, collect rewards, collect tokens and engage with that.
Diego: Everyone right now is talking about these NFTs, Non-Fungible Tokens. Can you describe to our community what is a Non-Fungible Token and why do you think they can represent a real revolution?
We’ve been true pioneers in the space of Non-Fungible Tokens – we’ve been building the Sandbox for the last 3 years and we launched already several ones.
What is a Non-Fungible Token? It essentially is a piece of digital asset. It can be music, it can be art, it can be a collectible, it can be game assets, sports tickets, anything essentially that is reproduced on the blockchain and has specific attributes.
Those attributes being the fact they have scarcity, so a limited supply that anyone can see on the blockchain.
They are unique, so unlike one bitcoin and another bitcoin, which can be interchanged, with NFTs – each one is unique.
So a gold sword and a silver sword even if they are both swords they have different attributes, they cannot be interchanged that easily. They are undividable.
Similarly, you cannot have 0.00001 of a sword, 1, many or zero and one main benefit of these NFTs is that as a user, as a player is that you own them in your wallet and you can use them in a game but you can also trade them in marketplaces in a permissionless manner. You don’t need to ask the permission to the developer of the game to be able to transfer the content to another user, to sell that content on marketplaces, or use that content potentially in other games, which is a major revolution in gaming.
Games today are centralised, well-guarded, they are trying to keep their users and they have all the data, all the virtual currency of the game assets that you bought in-game, you can never take them away.
If you leave the game you basically lose all your progress, all your content, all your virtual currencies, all that content you bought, you spent time to acquire by playing was never really yours, basically – and it’s difficult to put value on something that is not really yours, you cannot transfer.
With the use of Non-Fungible Tokens, all the content, all your avatars, you identities the objects or assets you acquire are yours, including also the tokens, the equivalent of virtual currency, so SAND in our case.
So this is because it’s yours, it can be exchange, it can be valued, other users can want it. So this is the premise of building a virtual economy into a virtual world, this is why NFTs are so important.
They are growing, they facilitate access to the greater economy, to monetize your time in ways that were never done before.
That’s why now we are seeing a lot more influencers, celebrities, artists, creators, game makers as well, jump on board.
Diego: You mentioned these NFTs connected to the world of art, music and of course video games, how do you see them connected to the world of videogames?
Because you mentioned that with NFTs you are the real owner of something, even in a non-physical world – how do you see them connected to the specific world of videogames?
In videogames, more specifically, unlike art, music and sport collectibles, which are also very hot NFTs at the moment. Those are just collectibles. You own them, they are rare, but they don’t necessarily have a specific utility.
Rather than being maybe aesthetically great-looking, or just being rare, in videogames NFTs have additionally a utility. Like if you acquire a character that is very powerful and rare, you’re most likely to be able to use that character in the game.
The characteristics, the attributes of that character will impact your gameplay, will impact maybe the way that you can earn rewards, finish first at the tournament, complete your goals. And this is participating to a new model called play-to-earn, where your assets can be put to use to produce actively more return on your time for you and that I think is something really interesting and unique in gaming, that you don’t find in other industries.
In The Sandbox, additionally, there’s this concept of virtual real estate, with LAND, because, besides being a gaming platform, we’re also a virtual world with a limited map and on each of those maps – and it’s pretty simple to understand – as you own the map, it’s a piece, it’s a place, it’s a digital space where users can publish their games can start monetizing their content.
If you cannot publish your game, you cannot monetize it to have players coming into it and also enable other business models like renting that LAND to a creator creating different points of attraction based on your content etc.
So, that’s something we’re seeing more and more people interested in – digital land, virtual land as NFTs.
Diego: About The Sandbox, what are the developments that await us in the coming months?
We’ve already achieved several milestones at The Sandbox. Since about 3 years ago we’ve launched in beta several creation tools for our platform, our NFT maker, called VoxEdit, which is a 3D editor where you can make Voxel-based content, animate them, publish it to the marketplace or the users to acquire it
We’ve launched the marketplace and it’s essentially a map where we sold in the pre-sell round up to 35% of the whole map, each of those LAND being a unique NFT, and interestingly last month, in February we sold more values than in the past 2 years, showing an acceleration in the adoption of NFTs in general.
We’ve launched the beta of the Game Maker as well. That, as I mentioned, enables anyone to create game experiences by drag-n-drop, no programming knowledge required. And we have hundreds of active users using those products on a daily basis. The next step for this year is to open the public Alpha to players, so to let them discover some of the games made by the creators using the tools to participate in play-to-earn seasons where they’ll be able to collect rewards and exchange those rewards if they want to for tokens of value and hence turn their time into a potential revenue stream.
We’re also preparing our soon-to-open marketplace in beta, allowing anyone to make their NFTs and start selling them. We’ll do it progressively, first through selecting great content and high-quality creators and we know we do have some in our Italian community, so I’m excited to see this content coming from Hackatao – to mention one of the most talented creators working with us on The Sandbox, but there are many others and we’re excited to have this marketplace launch – I would say before the end of the month in March – and really enable anyone to buy, collect, own and use NFTs in The Sandbox.
You can now buy, sell and store Tezos (XTZ) onYoung Platform!
What’s Tezos?
Tezos was conceived by Arthur and Kathleen Breitman in 2014 and launched in 2017. It belongs to the ICO generation, but this was not just any ICO. It raised $232 million, which was a record for that year.
Tezos is one of the first alternative projects to Ethereum to appear on the market. It offers a smart contract protocol and a native token standard. Another distinctive feature of Tezos is its consensus and validation mechanism, the Liquid Proof-of-Stake.
How does XTZ work?
The role of the XTZ token is to maintain and keep the Tezos network running. XTZ owners can open a node and vote on protocol updates, or delegate their vote.
Why has Young Platform decided to list it?
Tezos’ native protocol provides a solid and secure basis for the development of smart contracts, driving all the derived technologies and foundational functionalities of DeFi. The Tezos Foundation supports the project in all its aspects and in particular offers regular grants to its developers.
Available pairs?
On Young Platform and Young Platform Pro you can buy and sell Tezos with the following pairs:
Turin, 28th June 2021. A few months after Young’s third birthday, we want to celebrate with you a new stage in our history. We have closed a new €3.5 million capital increase with United Ventures, one of the Italian leading venture capital funds in Italy specialising in investments in digital technologies.
This Top League round represents an important confirmation for Young Platform, which will allow us to consolidate our leadership in Italy and lay the foundations for an international expansion.
Founded to bring transparency, inclusion and education to the world of personal finance and digital assets, Young Platform will continue to develop new services related to cryptocurrencies and decentralised finance, while maintaining our community-driven identity, and focus on user education through user-friendly products.
Young Platform is first and foremost a community, a group of enthusiasts and professionals who share valuable know-how. This sharing principle has resulted in our products becoming educational tools for people who want to enter the crypto market but don’t know where to start, as they can access the knowledge base to do so in an informed manner.
We believe that education and awareness are the best ways to get started, that’s why our educational content is available for free to all levels of experience, with 24/7 support.
The company, the team, and our community of nearly 300,000 cryptocurrency traders and enthusiasts could not have found a better partner than United Ventures’ team.
United Ventures’ mission is to identify and promote disruptive innovations in the Italian technology industry and turn them into international businesses. However, what has certainly driven our union is the sharing of common values – first and foremost, the belief in always putting people first.
Their investment portfolio already includes the likes of MusiXmatch, Moneyfarm and Faceit. It is therefore an honour to join this team and bring our community with us.
