Metaverse Index (MVI) Adds BLUR, RNDR, and FET Tokens

The Metaverse Index (MVI) underwent a rebalance this month, including changes to both constituents and weights. According to its recently updated methodology, the index aims to reflect the Metaverse and Gaming trends in virtual economies facilitated by blockchain technology and NFTs.

Eligible tokens must meet certain criteria, such as being ERC-20 tokens on the Ethereum blockchain, categorized in specific CoinGecko or Messari categories, and having a certain market capitalization and daily decentralized exchange trading volume, among other requirements.

The weighting of constituents in MVI is determined by a blend of square root market capitalization and decentralized exchange volume. The existing and new compositions of the MVI are outlined, with four tokens (ENJ, AUDIO, MC, LOOKS) being removed and three new tokens (RNDR, BLUR, FET) being added due to their relevance in their respective areas.
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Blur: $BLUR

The $BLUR token is the native governance token for the Blur NFT marketplace, a fair and community-driven platform for NFT traders and collectors. 

Launched in October 2022, Blur quickly gained attention in the NFT marketplace sector, surpassing OpenSea in terms of sales volume and instigating a change in trading fees among other platforms by eliminating them for both buyers and sellers. 

Blur's community-focused approach allows token holders to participate in governance decisions, earn rewards, and access exclusive features.

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Render Network: $RNDR

RNDR is a utility token primarily used as a medium of exchange for services such as animation, motion graphics, and VFX rendering on the RNDR Network. 

This network is a decentralized, peer-to-peer GPU computing system that matches creators who require more computational power to render their projects with providers who offer GPU power in return for RNDR tokens. It paves the way for intricate GPU-intensive render tasks to be dispersed and handled across a P2P network, simplifying the processes of rendering and streaming 3D spaces, models, and objects for the end-users.

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Fetch.ai: $FET

The $FET token is the native cryptocurrency of the Fetch.ai ecosystem. It is used to power the transactions and operations within the Fetch.ai network

Fetch.ai is a blockchain-based platform that seeks to revolutionize how we conduct transactions and interact with the digital world. The core concept of Fetch.ai is to bring together machine learning, artificial intelligence (AI), multi-agent systems, and decentralized ledger technology to create an economic internet.