A quick look at the Hyperverse crypto project

Hyperverse, amongst other crypto projects, has raised curiosity and concerns in equal measure. And with every passing day, there are more raised eyebrows and questions regarding its legitimacy.

In part, it's a result of the plummeting cryptocurrency value this year. The FTX debacle hasn't helped, either.

The scandal of FTX and its demise has revived conversations around the validity of crypto projects. Exposed to the recent searchlight is the Hyperverse, and we're about to take a sneak peek.

So, what is the Hyperverse crypto project?

Picture of The Hyperverse

Visit the Hyperverse.net website and you're greeted with the following words against a backdrop of star systems and futuristic cityscapes.

Where Reality Ends and Imagination Begins

According to the team, Hyperverse is a virtual metaverse with player voyagers residing on millions of planets and interacting with one another in the commerce of tokenized items.

So the story goes that this is 2078AD, and we've mastered interstellar travel. Kicking off the age of interstellar migration, the first human voyagers on the Proxima Centauri star system created the Hyperverse.

There's even a cool video of a space vehicle, Apollo, docking into what I can only describe as a space city enclosed in a glass bubble just off the rocky rings of a mars-like planet. The video ends with a panoramic view of the glass bubble attached to a spaceship.

And then, the word HYPERVERSE comes into focus.

So why should we have the Hyperverse?

Catchy lore, cool videos, and a buzzing community are nice and typical in the crypto space, but so is the tendency to be more community than a commodity.

Features

Picture of The Hyperverse

The Hyperverse claims to bring users value through a combination of features from themes in gaming, Metaverse, crypto economy, DeFi, and governance.

Picture of The Hyperverse

Concerns

The one question that many Hyperverse crypto project critics feel the team doesn't answer clearly is how the Hyperverse claims to make money. The team promises returns of 0.5% per day for 600 days, where investors can look to make as much as 300% returns on their initial investments. They say that these returns are gotten from their savvy investments in crypto currencies and other Web3 projects.

But the thing is that no one can guarantee such returns for that long. Also, the assets they claim to make money from have dropped in value, with many at around 3% to 10% of their original value. As we speak, Bitcoin trades for $16,000, 80% down from its all-time high in October last year.

There are other complaints as well. Investors lament the difficulty, and sometimes inability, to sell their HU cryptocurrencies. All the while, the Hyperverse crypto project keeps changing its name, from Hyperfunds to Hyperverse and then to Hypernation. What is steady across these changes is the increasing skepticism around the hype.

It seems to be a Ponzi scheme dressed in the latest garb of the times - web 3.0. However, remember to do your own research.