2 Grime Low cost Cryptocurrencies That Might Soar in 2022 – Motley Idiot

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With a current market cap of $790 billion, it’s too late to buy Bitcoin cheap. But newer cryptocurrencies like The Sandbox (CRYPTO:SAND) and Speckle (CRYPTO:POINT) offer potentially better growth prospects at a much lower price.

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

1. The sandbox

Valued at just $4.2 billion, The Sandbox is a small fish compared to the major cryptocurrencies. But that could change as developers work to create the first blockchain-based Metaverse. Sandbox’s early mover advantage and user-generated content strategy could make it a success.

Soaring stock chart on dollar bill.

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 since the social media giant meta platforms (formerly Facebook) announced plans to spend $10 billion to develop the concept by the end of 2021. The Sandbox aims to leverage blockchain to create its version of the metaverse, which will benefit from decentralization and non-fungible tokens (NFTs), digital proofs of ownership stored on the network.

According to its white paper, 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 properties in its metaverse. And it launched its second alpha season in January to allow users to gain experience with its game creation engine and compete for cash prizes of up to 20,000 SAND, which would be worth nearly $100,000 at the current exchange rate.

2. Polkadot

With a market cap of $24 billion, Polkadot is much larger than The Sandbox but still cheap compared to assets like bitcoin and bitcoin ether (Recently valued at $790 billion and $360 billion respectively). Polkadot offers a unique spin on the development of decentralized applications (dApps), which are programs built on top of a blockchain network. And it can enjoy significant long-term growth as the entire industry expands.

Polkadot is unique because it runs two different blockchains: the main network, 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-compatible smart contract platforms Acala and moonbeam winning slot machines on the network. While 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 board

Everyone wants to get on the ground floor of a long-term growth opportunity. Polkadot and The Sandbox are for you due to their small market caps and compelling strategies for success. The sandbox is best suited for investors looking to invest in the entertainment potential of blockchain technology, while Polkadot is committed to blockchain infrastructure. But both look promising in the new year.

This article represents the opinion of the author, who may disagree with the “official” endorsement position of a Motley Fool premium advisory service. We are colorful! Challenging an investing thesis — including one of our own — helps us all think critically about investing and make decisions that help us be smarter, happier, and wealthier.


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