The bear market of 2022 decimated demand in crypto in general and specifically in the decentralized finance (DeFI) and non-fungible token (NFT) scenes.
At the peak of the last bull run, Immutable X (IMX) and MultiverseX (EGLD) prices soared to record highs, becoming altcoins to buy in 2021. However, by the end of 2022, token prices had crashed by over 90%. It has never been the same again for Immutable X and MutiverseX despite their upgrades and lofty vision-mission statements in the NFT and metaverse sub-sectors.
While the first half of 2023 was mainly mixed, crypto projects looking to leverage artificial intelligence (AI) in their operation have been edging higher, even outperforming Bitcoin (BTC) and Ethereum (ETH).
In their ongoing presale, InQubeta (QUBE) and Borroe.Finance (ROE) has recorded triple-digit gains. They are easily the popular altcoins to consider in Q4 2023. InQubeta taps AI and uses NFTs to create a decentralized crowdfunding platform for ambitious startups to raise funds.
On the other hand, Borroe is focused on increasing liquidity for web3 startups. It uses AI and NFTs so that projects can raise cash using their future earnings. To make borrowing easier, Borroe uses AI for risk assessment and the blockchain for transparency.
This dichotomy begs the question, what happened to ImmutableX and MultiverseX? Why are they being replaced by InQubeta and Borroe? Are the best NFTs to invest in being minted on InQubeta and Borroe?
The root cause of the IMX and EGLD crash from early 2022 to the first half of 2023 is the bear market. Dropping crypto prices and changing monetary policies in Europe and the United States moved capital away from “risky” assets, including Bitcoin (BTC), to safe havens.
As a result, dwindling capital inflows, worsened by falling crypto platforms, including FTX and 3AC, starved funds and activity to emerging sub-sectors like NFTs and Metaverse. Declining activity and worsening sentiment forced IMX and EGLD prices from peaks of around $9 and $490 to spot rates–a drop of over 90%.
Supporters are optimistic activity will recover in the months ahead, lifting prices. Before then, crypto investors were increasingly exploring high-growth alternatives, closely watching some coins to invest in whose underlying platforms tap into emerging trends, especially AI.
According to Statista, the global AI market is expected to reach $241.80 billion in 2023. MarketsandMarkets forecasts a global AI market size of $1.345 trillion by 2030. On the other hand, experts pointing to adoption expect crypto to be a $10 trillion market by 2030.
InQubeta has raised over $3.4 million so far, and more investors are loading up QUBE, its ERC-20 deflationary token, making it an ICO in 2023. The platform presents a portal for investors to get exposure to ambitious crypto AI startups.
Therein, startups can mint opportunities, and investors can buy these opportunities listed on the marketplace as fractionalized NFTs. Because of fractionalization, anyone, regardless of their budget, can participate. QUBE is used for transactions, and those who hold the token can stake it, further increasing their earning avenues.
InQubeta’s approach of riding on AI’s possibilities while realizing the potential of crypto and the revolutionary potential of NFTs and DeFi is why some consider it crypto to invest in 2023.
Borroe.Finance has sold over 56 million ROE in the ongoing presale. Supporters of the crypto AI project expect its funding marketplace to provide value to investors. By deploying on Polygon, Borroe can also scale while remaining web-focused.
The difference in performance of IMX and EGLD compared to QUBE and ROE emphasizes the importance of actively monitoring emerging trends. Early adopters of InQubeta and Borroe are bullish, expecting further growth once their tokens are listed on exchanges. Already, these tokens are up triple-digits in the ongoing, multi-phase presales.
This article is sponsored content and does not represent the views or opinions of BeInCrypto. While we adhere to the Trust Project guidelines for unbiased and transparent reporting, this content is created by a third party and is intended for promotional purposes. Readers are advised to verify information independently and consult with a professional before making decisions based on this sponsored content.