why you need this crypto

  The broader crypto market has been going through a rather alarming time, especially throughout the month of April 2022. Top cryptocurrencies like Terra ($LUNA) have seen their prices tumbling down the charts hitting all-time lows. While governments worldwide rally about regulations on digital assets, constant efforts are being made to advance the Central Bank Digital Currencies (CBDC) projects in different countries.

In one of the weakest moments in the history of cryptocurrencies, people are confused about the future of digital assets. The market faced similar conditions the previous year and then eventually fought back. However, in the middle of difficulty lies opportunity. For those willing to invest and 'buy the dip,' here is a list of the best cryptocurrencies to invest in 2022.

Polygon ($MATIC) - Layer 2 Platform for Ethereum

Polygon is primarily categorized as a Layer 2 platform because it works alongside the Ethereum network, and is known for its ability to reduce the cost of transacting and increase the speed of transactions on the Ethereum blockchain. These are the critical features of Polygon that make it one of the integral parts of the Web3 infrastructure.

Along with its flagship product, the Matic POS (Proof-of-Stake), Polygon as a platform has been designed to scale Ethereum and build Layer 2 infrastructure such as Validium, zkRollups, Plasma, and Optimistic Rollups.

The previous year, Polygon acquired the Mir protocol for $400M, eventually enhancing Eth 2.0 scaling possibilities. Polygon ($MATIC) is a cryptocurrency that will remain in the center of Web3 for years to come.

Sandbox ($SAND) - Metaverse and Gaming Platform

The Sandbox is a Metaverse platform where gamers can play, create and monetize their activities through Non-Fungible Tokens or NFTs. Their utility token is $SAND.

Players can use NFTs as proof of ownership of digital assets in the game. Players can trade these digital items on NFT marketplaces and integrate them into their games. Moreover, the Sandbox offers players digital real estate in their metaverse, which one can purchase with the $SAND tokens.

With Facebook rebranded as Meta, we all know that Metaverse is the next iteration of the internet where individuals can play, earn, socialize and interact. Recently an unknown buyer paid $450,000 to purchase a plot of virtual land beside the digital residence of the famous rapper Snoop Dog in the Sandbox Metaverse. $SAND is one of those cryptocurrencies one should watch out for.

Filecoin ($FIL) - Distributed File Transfer and Storage

Filecoin ($FIL) is a relatively new cryptocurrency. One can invest in this crypto to gain access to the distributed data storage network, which seeks to convert unused data into a powerful business resource.

Storage space can be purchased using the $FIL token from the store on the project's website. The network is based on the InterPlanetary File System (IFPS) protocol. Apart from providing P2P sharing of storage, the network also acts as a layer to incentivize participation in the network.

Enjin ($ENJ) - Digital Assets Marketplace and Gaming Platform

The Enjin Coin ($ENJ) is another Metaverse coin focused on gaming. The Enjin platform has a lot of use cases for $ENJ, its native token, it is the all-in-one digital asset for NFTs and in-game purchases. Enjin aims to become one of the largest online gaming communities. A staggering 250,000 gaming communities with over 18M gamers are already onboard the Enjin platform.

The team working at Enjin specializes in NFTs. They proposed a token standard that won approval as a standard Ethereum token for specialized NFTs - the ERC-1155.

Like The Sandbox, Enjin distributes software development kits (SDKs) to developers to facilitate rapid integrations into games.

The Graph ($GRT) - Indexing Protocol for Querying Blockchains

Most of us are unaware of how the internet simply works without understanding the role of the universal resource locators or URLs. Without URLs, even the Google Search Engine would not be present. URLs help to index the data on the internet.

Similarly, the Graph aims to build an indexing standard for the decentralized application world. It will help to query the data on the blockchain in a much more accessible manner.

Developers use the open APIs of the Graph, which can easily access the on-chain data previously indexed by a network of node operators. The technology behind the platform is called the Subgraph. It is open-source, which helps attract developers to build decentralized apps (dApps).

High-profile projects such as Synthetix, Audius, and Uniswap are some of the Ethereum dApps built using Subgraph. $GRT is an excellent crypto token to add to your portfolio.