2 cheap cryptocurrencies that could skyrocket in 2022

With a recent market cap of $790 billion, it’s too late to buy Bitcoin cheap. But new cryptocurrencies like The sandbox (CRYPTO: SAND) and Peas (CRYPTO: DOT) offer potentially better growth prospects at a much lower price.

Let’s explore why these assets could skyrocket in 2022.

1. The sandbox

Worth just $4.2 billion, The Sandbox is a small fry compared to major cryptocurrencies. But that could change as its developers work to create the first blockchain-based metaverse. Sandbox’s pioneering edge and user-generated content strategy could be the key to success.

Image source: Getty Images.

According to Wired.com, the metaverse can be defined as a persistent virtual world that continues to exist when you’re not playing. And it’s been a hot topic ever since the social media giant Metaplatforms (formerly Facebook) announced plans to spend $10 billion to develop the concept in late 2021. Sandbox aims to leverage blockchain to create its version of the metaverse, which will benefit from decentralization and non-fungible tokens (NFTs), digital proof of property stored on the network.

According to its whitepaper, The Sandbox aims to create a virtual world where people can “build, own and monetize” gaming experiences, similar to the publicly traded company. Roblox, which uses a similar model.

The Sandbox has already started selling NFT-based digital real estate in its metaverse. And it launched its second Alpha season in January to allow users to create experiences using its game creation engine and compete for cash prizes of up to 20,000 SAND, which would be worth almost 100,000 $ at the current exchange rate.

2. Peas

With a market capitalization of $24 billion, Polkadot is much bigger than The Sandbox, but it’s still cheap compared to assets like Bitcoin and Ethereum (recently valued at $790 billion and $360 billion, respectively). Polkadot offers a unique approach to developing decentralized applications (dApps), which are programs built on a blockchain network. And it can enjoy significant long-term growth as the industry as a whole develops.

Polkadot is unique because it leverages two different blockchains: the mainnet, called a relay chain, and several additional chains called parachains, which can be programmed to create applications that can interact with other blockchains. This system gives developers more flexibility to customize their applications while benefiting from the security and infrastructure of the Polkadot network.

Polkadot launched its first round of parachain auctions in November, with projects including Ethereum-enabled smart contract platforms Acala and Moon Beam win slot machines on the network. Although these projects are still in development, they could become an exciting proof of concept for Polkadot’s innovative take on blockchain technology.

It’s not too late to get on board

Everyone wants to enter the ground floor of a long-term growth opportunity. Polkadot and The Sandbox fit the bill due to their small market caps and compelling strategies for success. The Sandbox is ideal for investors who want to invest in the entertainment potential of blockchain technology, while Polkadot is a bet on blockchain infrastructure. But the two seem poised for success in the new year.

10 stocks we like better than The Sandbox
When our award-winning team of analysts have stock advice, it can pay to listen. After all, the newsletter they’ve been putting out for over a decade, Motley Fool Equity Advisor, tripled the market.*

They just revealed what they think are the ten best stocks investors can buy right now…and The Sandbox wasn’t one of them! That’s right – they think these 10 stocks are even better buys.

View all 10 stocks

* Portfolio Advisor Returns as of December 16, 2021

Randi Zuckerberg, former director of market development and spokesperson for Facebook and sister of Meta Platforms CEO Mark Zuckerberg, is a board member of The Motley Fool. Will Ebiefung has no position in the stocks mentioned. The Motley Fool owns and recommends Bitcoin, Ethereum, Meta Platforms, Inc. and Roblox Corporation. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

About Catriona

Check Also

Nemaura receives a provisional purchase order from Middle

LOUGHBOROUGH, ENGLAND, Oct. 12, 2022 (GLOBE NEWSWIRE) — Nemaura Medical, Inc. (NASDAQ: NMRD) (“Nemaura” or …