- Smart contract platform Zilliqa has been in the news of late, as it announced the launch of a metaverse-as-a-service (MaaS) platform.
- Zilliqa’s Metapolis will provide users with the technology and infrastructure required to create and maintain metaverses.
- eSports platforms Ninja in Pyjamas, RRQ, and MAD Lions have also chosen Zilliqa as their preferred blockchain of choice.
- Zilliqa (ZIL) has outpaced the entire crypto market, gaining more than 350% in seven days.
In a bid to address the issue of scalability that generally plagues blockchains, Zilliqa was launched in 2017. Capable of handling between 2,500 and up to 10,000 transactions per second, Zilliqa easily became one of the most popular blockchain networks.
In addition to its high throughput, Zilliqa was also a smart contract platform, earning it the title of Ethereum killer. However, Zilliqa slowly disappeared from the limelight as competition increased. So, how has Zilliqa performed in recent times?
The smart contract platform, Zilliqa, became one of the most talked-about cryptos in the last couple of days following an important announcement. Zilliqa announced its debut in the trillion-dollar metaverse as it introduced Metapolis.
Zilliqa calls its Metapolis a “metaverse for all” project. It describes Metapolis as a service (MaaS) setup that will offer a blank canvas for clients to build their own virtual universe as they desire.
Metapolis is not a virtual world but will provide users with the technology and infrastructure required to create and maintain their own metaverses. Explaining the Metapolis, Aparna Narayanan, head of communications at Zilliqa, said,
“Metapolis will allow conceptually rich and custom-designed domes as part of cities that can house brands, artists, concepts, games, e-stores … offering a new layer of engagement for both the physical and digital worlds.”
Prior to the introduction of Metapolis, Zilliqa was selected as the blockchain of choice by some of the largest brands in the esports industry. On March 23, Zilliqa announced that it had partnered with Ninja in Pyjamas, RRQ, and MAD Lions.
Zilliqa will work with its new partners to implement tokenization, NFTs, and metaverse activations. The tokens will be used for play-to-earn games, promotional incentives, launch events, viewing parties, and more.
In addition, Zilliqa has just been listed on Bitget, the world’s largest copy trading platform. Bitget announced the listing of ZIL on April 1 at 09:00 UTC, along with a trading competition.
The most anticipated event at the moment in the Zilliqa community is Metapolis, a metaverse-as-a-service offering powered by Zilliqa’s blockchain. Metapolis has been scheduled to be released on Saturday, April 2.
The Metapolis will launch with a VIP event, which has been scheduled for Saturday in Miami. The decentralized ecosystem of Zilliqa has also been on the rise.
Avely Finance, a liquid staking protocol built on the Zilliqa blockchain, is preparing to launch in the coming weeks. Avely’s testnet is currently live as well as the development of its mobile app that will be available at the launch of the protocol.
Zilliqa regained popularity over the past few days for outperforming the rest of the cryptocurrency market by miles. While other digital assets managed double-digit gains in the last week, Zilliqa (ZIL) gained more than 370%.
The seven-day price chart of Zilliqa (ZIL). Source: Tradingview
Before the price boost, ZIL was trading at a low of $0.047 and before hitting a 90-day high of $0.2281. After its 370% price rise, Zilliqa is experiencing reduced momentum but has managed to stay in the green in the last 24 hours, while other cryptos plunge.
The 24-hour price chart of Zilliqa (ZIL). Source: Tradingview
Zilliqa’s sudden price rise has made the project the 53rd biggest crypto ranked by market cap. ZIL now trades at $0.19434, which means it has a market cap of $2.45 billion, thanks to a circulating supply of 12.59 Billion ZIL.
On the Flipside
- Since the rise of newer Ethereum killers like Solana, Polkadot, and Cardano, Zilliqa has fallen down the pecking order in popularity and usage.
The recent Zilliqa rally fueled by the Metapolis announcement has reignited belief and enthusiasm in a project that almost fell off the radar.
Long-term HODLers and believers in the project have come out to publicly reaffirm their loyalty to Zilliqa. One such believer, Crypto Vamp, wrote;
Im not shocked about this #Zilliqa moves, it was necessary and matter of time. As i said for me isnt important when #Zilliqa reach 5$ barier the point is about this project going to do that if you like it or not 🥂— Crypto Vamp (@stefunkorobko) March 31, 2022
Talking about Metapolis, a Twitter user, @Ferybroo, wrote;
#Zilliqa.METAPOLIS has not been launched yet has received a good market response if #METAPOLIS is launched. The price of 1 USD can definitely be achieved. But sorry, I'm not targeting #ZIL at 1 USD. But 3 USD in my portfolio. Because #ZIL has potential at that price this year— Fery$$ (@Ferybroo) April 1, 2022
Ecstatic about Zilliqa’s recent gains while the crypto market corrects, @mroptimist2021 wrote;
#Zilliqa has smashed Bitcoin dominance... Big green candles for $zil while $btc is red— Whale Wannabe 💜 ZIL is REAL not BETA! 😎 (@mroptimist2021) April 1, 2022
Why You Should Care
The launch of Metapolis has reignited interest in Zilliqa. With the Metapolis as MaaS being as important as the metaverse, Zilliqa could establish itself as one of the go-to platforms for metaverse development.