Crypto Investors are Moving Funds into This Virtual Reality Project Before it Lists on Exchanges – What Does it Do?
As cryptocurrency markets dip amid growing macro headwinds and as sentiment wanes amid slowing spot Bitcoin ETF inflows, crypto investors are moving funds into an exciting new virtual reality project called 5thScape (5SCAPE) ahead before it lists on exchanges.
Bitcoin (BTC) is probing for a potential near-term break under $60,000. Ether (ETH), meanwhile, is knocking on the door of a possible break below $3,000. Both are down 16% and 26% respectively from their recent peaks.
According to data presented by The Block, net ETF flows have been negative so far this week. That’s thanks to continued, albeit still slowing GBTC outflows of $110 million on Monday and $80 million on Tuesday.
And as macro headwinds grow ahead of the halving on Saturday, price risks could be tilted towards further losses.
US bond yields and the US Dollar Index (DXY) recently vaulted up to their highest levels since last November. US economic data has come in stronger than expected in recent weeks, forcing the Fed to turn more hawkish.
Fed Chair Jerome Powell emphasised a lack of progress on inflation this week. All this has forced investors to substantially downsize Fed rate cut bets.
As per the CME’s Fed Watch Tool, the money market implied probability of a July rate cut has faded to under 45% from around 80% one month ago.
Amid the bearish outlook for major cryptos, it’s no surprise that crypto investors have been eyeing up alternative investment strategies.
Presale investing is a popular alternative to investing in major cryptos. Up-and-coming web3 projects often raise funds at an early stage via the discounted sale of their native token.
One presale that has been attracting a lot of attention recently is 5thScape, with investors betting it will become a market leader.
The first-of-its-kind crypto-powered VR/AR project has already raised over $5 million so far. 5thScape believes that tokenization will play a major role in the future of VR/AR, and its $5SCAPE token is central to its vision.
Step into new worlds of imagination. 🕹️🚀@5thScape is building a next-gen #VR and #metaverse ecosystem to redefine virtual reality.
Collect rare digital assets. The possibilities are endless!
Join the community – https://t.co/ewBcsEeltG#gaming #innovation #blockchain pic.twitter.com/hUe3cDDYnT
— 5th Scape (@5th_scape) February 11, 2024
Could Virtual Reality Project 5thScape Be 2024’s Best Presale?
Priced at just $0.00327, a steep discount versus the token’s planned launch price of $0.1, investors who get involved now can lock in paper gains of 200%.
🚀 5th Scape Presale Stage 5 is Now Live! 🚀
🔥 Dive into the virtual frontier with 5SCAPE – the gateway to limitless experiences. 🌐
🎮 Hyper-Realistic VR Gaming
🌟 Unlock Premium Content#Cryptocurency#5thScape pic.twitter.com/EFIJ4MgIs4— 5th Scape (@5th_scape) April 12, 2024
Given its total token supply of 5.1 billion, investors who get in now are essentially buying into the project at a market cap of $16 million.
However, 5thScape could easily become a major market leader in its VR/AR niche. There is a good chance that it could one day become a $500 million market cap token. That means investors who get in now could potentially bag huge gains.
How Does $5SCAPE Gain Its Utility?
Users will be able to stake $5SCAPE to earn rewards and unlock a wealth of utility-rich features.
For gamers, $5SCAPE is the universal currency for unlocking products and services in a seamless transactional environment, such as buying and trading in-game assets and access to premium content.
On the other hand, for developers $5SCAPE tokens can be earned for building games for the platform and participation in the 5thScape Developer Center.
The initial product offering includes an impressive array of games, from MMA Cage Contest to soccer VR sporting fun Immersive Kickoff, racing game Thrust Hunter, and Archery Master, an adventure game where you follow in the footsteps of a legendary archer.
The early scenes of cage conquest are here. Come take a look. 👊🏼🎮#cageconquest #5thScape #vrgaming #VR #gamelaunch pic.twitter.com/QbFrLyWPOM
— 5th Scape (@5th_scape) April 17, 2024
5thScape runs on the Ethereum network and will make use of the Skale Network Layer 2 technology to enable the scaling necessary for gaming and other virtual world activities.
5thScape Developing Its Own VR Headset
To work well, virtual reality and augmented reality need great hardware too. So the team at 5thScape will develop the VR Ultra headset and the Swiftscape VR chair in order to maximize comfort and ergonomics to deliver an immersive experience with precise motion tracking and intuitive controls.
The funds being raised in the presale will enable the project to complete the development and manufacture of its hardware and build out the decentralized network infrastructure.
Also encouraging for potential investors is a link to CEO Anoj Kumar’s LinkedIn page, which is provided on the website, as are those of the rest of the leadership team.
An active wallet widget on the homepage shows purchasing activity from countries worldwide, such as Germany, Australia, the United States, and Japan, to name a few.
$5SPACE token can be bought today with ETH, MATIC, USDT, BNB, or card.
Eighty percent of the total token supply is available for purchase in the presale. The excitement around the project is shown by the size of the community on social media.
5thScape’s Discord server already has more than 5,400 members, Telegram 16,588, X/Twitter 9,569, and 1,000-plus on its YouTube channel.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
