- 6 Mar, 23
Starlink (STARL) 101: A Metaverse for Fun and Profit
The metaverse market is expanding at a rapid pace. It is safe to say that it is one of the most important sectors that has attracted the attention of market participants after NFTs. Today, metaverse is becoming much more immersive thanks to the development of advanced technologies, and many experts predict that the industry will grow even more in the coming years. If this happens, many projects like StarLink (STARL) may rise.
Therefore, it is not surprising to see an increasing number of blockchain companies actively entering the metaverse world today. Every day, new projects continue to enter the field, and StarLink (STARL) coin is one of them. Although it is thought to be associated with Elon Musk, STARL has no connection to the technology billionaire. This article of Zatrun.com is a guide that includes everything investors need to know about the project. Read on to learn more about StarLink.
Table of Contents
What is StarLink (STARL) and How Does It Work?
According to many futurists, metaverse constitutes the next stage of the internet. This concept was introduced in a dystopian science fiction novel written in the 20th century and became popular in 2021. In 2021, Facebook rebranded as Meta and designated metaverse as its new vision. Since that day, many metaverse projects that combine various technologies such as blockchain, NFT, and cryptocurrency have emerged. StarLink is one of the projects developed for this purpose.
StarLink aims to bring together metaverse and crypto-based economy on a single platform and operates in a decentralised manner, making it the only metaverse project. As a space-themed virtual world, it aims to earn and make money through the adventure concept via various explorations. It offers its users fun elements and ways to earn money, such as meeting people, trading products, and collecting NFTs. It also partners with large companies such as Disney, Lionsgate Entertainment, and Lucasfilm.
StarLink is a decentralised metaverse game project built on the Ethereum blockchain. With impressive 3D graphics and set in space, the game has many in-game games. You earn rewards by completing tasks and competing with other users. The game also covers NFT technology. The spaceship or avatar of the game is processed onto the blockchain as an NFT. This makes it possible to make money from the items you obtain in the game.
Through the NFT market of the game, users can put their in-game items up for sale. Each item has different features, and some items are rarer than others. Therefore, rare items find buyers at higher prices. However, you can also receive rewards in the form of cryptocurrency by completing in-game missions or defeating your competitors. At this point, the ERC-20-based native token of the metaverse project, STARL coin, comes into play.
What is STARL? Is It a Good Investment?
STARL coin is a cryptocurrency used as a means of exchange within the StarLink Metaverse. This cryptocurrency operates using the ERC-20 standard and allows its holders to earn real-world returns. If you plan to play the game, you will need this token to buy, sell, trade, and exchange in-game assets. Additionally, STARL is used to access games, virtual concerts and clubs, media, entertainment, education, travel modes, virtual real estate investments, and material mining in the metaverse.
Furthermore, the StarLink Metaverse is governed by STARL coin. So, players holding the cryptocurrency also hold a certain part of the project. Each STARL holder can submit proposals and vote on submitted proposals to participate in the management of the platform. Thus, the ecosystem operates in a decentralised manner, providing high security.
When StarLink was first launched, there was a lot of hype surrounding it. This was due to many investors believing that Elon Musk was behind the project. The hype, however, died down shortly after due to the similarity in name. Nevertheless, as a metaverse project, STARL coin has been relatively successful. The project currently has a market value of over $30 million. However, the cryptocurrency trades at $0.0000027. The asset reached its all-time high in November 2021 when one STARL was worth $0.00008.
Despite the current low price, the metaverse industry continues to grow. A future development or expected improvement in the global economy could raise the asset’s price. However, there are also high-graphic games like Facebook’s metaverse and Star Atlas on the horizon. Therefore, before making any STARL investment, investors need to examine the blockchain, metaverse, and macroeconomic factors carefully.