Recently, hedge fund supervisor and CNBC factor Brian Kelly (aka “BK”) described why he is bullish on 3 metaverse tokens in 2022.
According to his bio on the CNBC site, Kelly is the creator and CEO of BKCM LLC, a property management company concentrated on “global macro and currency investing, including investing in digital currencies.” Furthermore, he is the portfolio supervisor of the BKCM Digital Asset Fund and the REX BKCM Blockchain ETF.
Kelly is likewise the author of the book “The Bitcoin Big Bang: How Alternative Currencies Are About to Change the World” (which was released by Wiley in November 2014).
During a current episode of CNBC’s “Fast Money” Kelly stated that virtual truth platform Decentraland ($ MANA) might reproduce the upward trajectory of Facebook’s stock as the social networks giant turned into the common platform that it is today. He kept in mind the considerable effect of the network result on virtual realty, stating that Decentraland was poised to take advantage of the increase in adoption.
As reported by The Daily Hodl, he stated:
“In Decentraland, you can buy real estate, you can buy shop fronts, you can do a lot of different things virtually. And the currency of that virtual world is MANA.
“And again, about network effect, just like Facebook grew, the price of Facebook stock grew. As these networks grow, and as these virtual worlds grow, the underlying currency needs to grow to service that underlying economy.“
Kelly was also bullish on digital gaming altcoin Axie Infinity ($AXS), the native token of a play-to-earn decentralized game that allows users to buy, sell and trade digital assets. Again, Kelly noted the network effect, saying that the price of $AXS would continue to skyrocket alongside the growth of the game.
Kelly rounded out his top three altcoin picks with $SAND, the native token of virtual world The Sandbox ($SAND), about which he said:
“As that [The Sandbox] network grows, the currency will tend to grow with it to service the underlying economy.“
Here is how Binance Research described The Sandbox back in August 2020:
“The Sandbox is a virtual world built on the Ethereum blockchain, where players can build, own, and monetize their gaming experiences… The SAND token is an ERC-20 utility token that is used for value transfers as well as staking and governance… Players can create digital assets in the form of Non-Fungible Tokens (NFTs), upload them to the marketplace, and integrate into games with Game Maker.“
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