JasmyCoin is a blockchain project focused on new-generation trends such as Internet of Things (IoT), metaverse, and data security. These trends are extremely new, and data security is the biggest problem for those working in this area. Currently, there is no decentralised and effective data storage space in the blockchain field, allowing for simple data recording such as account information.

Jasmy aims to solve data storage and processing problems in the blockchain field. The project brings data users and suppliers together on a single platform. In addition, it develops various services to simplify data sharing of IoT devices. This article of Zatrun.com covers topics that need to be known, such as what JasmyCoin is, how it works, JASMY reviews, and expectations for its future.

What is JasmyCoin (JASMY)?

JasmyCoin (JASMY) is an Ethereum-based blockchain platform founded by Kazumasa Sato, a former Sony employee, in 2016. It is focused on improving data security and providing data sharing services in the metaverse and Internet of Things (IoT) era. Its vision allows users to truly own their data and make money from it if they wish. Data trading has become popular, especially after the Cambridge Analytica scandal.

Jasmy’s metaverse technology caters to metaverse applications created on the network. These applications can exchange data with each other and establish direct bridges. Data exchange also paves the way for a decentralised storage solution suitable for metaverse-focused Dapps. With the rise of Web3 and IoT, people became more aware of their data, which is why JasmyCoin has the potential to make a big breakthrough, especially in the metaverse field.

JasmyCoin works by offering its users four specific products. The first is “Metaverse Storage,” which allows users to securely store code, text, information, images, video, motion, and sound. The second product is “Identification Identity,” which is an automatic and secure identity solution that provides users with direct access to their data and a virtual identity on the chain. The system created for digital identities is the key to every protocol that takes data storage seriously.

In addition to these data-focused services, Jasmy also has a product in the metaverse and NFT space. For example, the project allows characters, items, and appearances in metaverse to be produced and stored as NFTs. Users can own these assets created on the protocol and sell them on secondary NFT and crypto markets. As a fourth service, the platform provides various devices for IoT and metaverse. The protocol is developing IoT technologies, sensors, AR, and VR devices.

Is JASMY a Good Investment?

JasmyCoin, an Ethereum-based blockchain platform, has an ERC-20 token called JASMY. This cryptocurrency allows businesses to join the platform and purchase user data, which in turn allows users to earn money. JASMY also serves as a governance and staking token and it used in the games released by the project, allowing users to purchase NFTs that have value in the metaverse.

JasmyCoin uses a “Play-to-Earn” (P2E) model and blockchain technology in its games, allowing players to earn cryptocurrency passively by simply playing. The token also serves as a governance asset for the protocol, meaning that the token holders manage the project. The community ensures decentralisation by voting on proposals through the tokens.

According to the JasmyCoin roadmap, the project aims to reach 107 million active global users with an individual data value of $500. Singapore, China, and Korea are among the company’s “focus areas” outside of Japan. Initially, the platform only served as a data sharing platform. However, it has since begun developing products in the metaverse, gaming, and NFT spaces. Currently, the asset is ranked as the 134th largest cryptocurrency.

However, since its launch in 2021, the cryptocurrency has lost value. Just a few weeks after JASMY’s release, the token was trading at $4.29. But with the bear market of 2022, the asset fell to $0.0047. However, given the project’s position in the market, this decrease seems to be due to general market conditions. Analysts predict that data-focused services and the metaverse will continue to grow in the future. Therefore, JasmyCoin seems worth researching further.