Crypto investors are always on the hunt for new cryptocurrencies that may have the potential to become the new Bitcoin (BTC), Ethereum (ETH), or Cardano (ADA).
This can be particularly tricky, as finding the next explosive cryptocurrency can often appear similar to searching for the needle in the haystack, or playing the lottery.
Regardless, the best way to do so is to look where most people don’t look. Well known cryptos like Solana (SOL), Terra (LUNA), Decentraland (MANA), and other over-advertised cryptocurrencies are good bets but may not experience the same speed of growth as new cryptos.
Instead, you must look for the overlooked projects, those who have not received the attention they deserve by the crypto community. Don’t be fooled, many of these projects don’t get attention for a reason: because they’re rubbish. But sometimes, the miracle happens: you stumble over a project which displays solid fundamentals and is still flying under the radar!
In this article, we will do just that. While you may already know some of the cryptocurrencies being covered, we can assure you you won’t know all three!
Klaytn (KLAY), the South Korean GameFi giant
Klaytn (KLAY) is an open-source South Korean blockchain platform launched in 2019 and focused on gaming finance (GameFi) and metaverse projects.
Klaytn is one of the first platforms to offer a complete, end-to-end “metaverse and game development package”, which essentially allows any studio or developer to build blockchain-based games and virtual worlds easily, through a simple plug-and-play solution.
This all-in-one package developed by Klaytn notably includes software development kits (SDKs), digital smart contract libraries, integrated crypto wallets, Layer 2 scaling solutions, data-tracking solutions, blockchain bridges, amongst other things.
As such, Klaytn currently offers one of the most complete and thorough blockchain-based game development products currently on the market.
Klayt also differentiates itself through its organizational structure, which consists of a so-called “Governance Council”, whose members consist of large organizations from various industries, including South Korean mobile giant Kakao, GroundX, LG Electronics, PUBG, and others.
Each of these “Council Members” is in charge of running a pre-specified node within the Klaytn ecosystem, ensuring stability and security.
After experiencing tremendous success in South Korea and East Asia, Klaytn is now looking to expand into the European and American markets after seeing significant success in South Korea and South-East Asia in general.
Now, Klaytn’s native currency, KLAY, anchored itself in the top 50 largest cryptocurrencies and is now trading around $0.58. This lesser-known project definitely deserves a spot on your watchlist.
Wax (WAXP), an overlooked underdog
Launched in 2017, WAX (WAXP) is another promising entertainment-focused project. Although this project has received less spotlight than some of its peers, it has managed to make a name for itself and is another lesser-known project worth keeping an eye on.
WAX developed its own purpose-built blockchain entirely dedicated to games, entertainment, collectibles, and other items that have a significant appeal among the crypto community. One of WAX’s main goals is to streamline e-commerce transactions, enabling collectors and other passionate individuals to trade items seamlessly.
Despite being lesser-known, WAX secured partnerships with certain strategic clients in the entertainment space, including the likes of Atari, Hasbro, AMC, Sony, Mattel, Street Fighter, to mention only a few.
So far, the WAX network hosted over 23 million transactions and boasts a fast-growing 12 million accounts, making it a serious player growing at light speed.
Moreover, WAX resorts to the Delegated Proof-of-Stake consensus mechanism (DPoS), making it one of the most environmentally-friendly blockchains currently in existence, unlike leaders such as Bitcoin or Ethereum that still resort to Proof of Work (PoW – although Ethereum will soon be moving to the much more popular Proof Of Stake (PoS).
With the crypto community’s repeated enthusiasm for entertainment-focused initiatives, WAX is undoubtedly another project that brings actual value to the table and seems destined to have a great future!
CashFi (CFI), an interesting presale
CashFi (CFI) is a new project that you surely have never heard about as it is about to conduct its presale and is completing its developmental phase.
This project appears ambitious in scope, at least based on its whitepaper.
According to the foundational document, CashFi aims to become an integrated platform that will combine off-chain cooperation with on-chain interoperability through a multichain ecosystem of Web3 products.
What does that gibberish mean? Well, in essence, understand that CashFi will develop an ecosystem of products that will enable users to trade while experiencing smooth liquidity levels as well as access a number of services such as staking, cross-chain NFT minting, derivatives trading etc.
In order to smoothen user experience across its ecosystem, CashFi will issue a native ERC-20 token, CFI. Users will be able to stake CFI in order to generate additional returns, and CFI token holders will also be able to partake in the project’s governance and influence CashFi’s future developments.
The CashFi expects to start its presale for CFI in the coming weeks, with no sale price being currently disclosed yet. This project appears well-thought out and features a promising whitepaper.
Now remains too early to tell, but should CashFi deliver on its roadmap commitments, this project could become an interesting player in the field.
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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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