Cryptocurrency investors are often drawn in by the allure of massive returns. Who wouldn’t want a chance at finding the next Bitcoin (BTC-USD) and turning a small investment into a fortune? However, the crypto market is extremely speculative, and the odds are stacked against the average investor. For every success story, there are thousands of projects that fail. Still, if you have money you can afford to lose and want to take a chance, it’s best not to throw darts blindly.
While still high-risk, I’ll share three high-growth cryptocurrencies with solid technology and use cases behind them. These factors improve the odds of finding a winner, even though success is never guaranteed. My goal isn’t to sell you false hope or encourage reckless gambling but rather to showcase projects that are, in my opinion, more likely to deliver significant returns in the vast sea of altcoins. Let’s take a look!
MILC Platform (MLT-USD)
I’m bullish on metaverse projects over the long-run, as virtual reality technology becomes more widespread and affordable. Companies like Apple (NASDAQ:AAPL) and Meta (NASDAQ:META) are driving up demand for VR devices, which I believe will lead to more VR-related games and experiences in the coming years. After an initial surge of interest in 2021, many metaverse projects have stalled out and effectively become ghost towns with barely any active users. But I see this sector as one that’s merely at its early stages of growth. The technology and infrastructure simply weren’t there yet to support these ambitious worlds, and that will take time to build out.
MILC Platform (MLT-USD) aims to create an open marketplace for buying and selling professional and user-generated content. Developer looking to build a metaverse for entertainment and social interaction can do so utilizing MILC. With a market cap under $31 million, MLT coin certainly has room to run if the team can deliver on its vision, and the metaverse gains more mainstream traction.
A key aspect that intrigues me is MILC’s NFT-supported financing models for funding media projects. This provides an alternative way for creators to raise money for movies, games, music, and more. MILC’s licensing platform also allows content creators to digitally license their work for streaming, publishing, and other distribution channels. By bringing together creators, distributors, and consumers, MILC could succeed in building a thriving digital media ecosystem.
Of course, betting on the success of any altcoin trying to break into a relatively new space like the metaverse is risky. But with risk comes the potential for great reward. If emerging VR/metaverse trends truly accelerate over the next 3-5 years as expected, then MILC Platform could be one of the rare moonshot cryptos that deliver exponential returns from today’s prices.
ScPrime (SCP-USD)
Decentralized cloud data storage has been one of my long-term crypto investment themes. Blockchain projects like Filecoin (FIL-USD) have already demonstrated there is demand for this type of service. ScPrime (SCP-USD) distinguishes itself by specifically targeting the public cloud market rather than simply consumer cloud storage. This project aims to deliver a highly-secure, distributed public cloud using cryptography, smart contracts, and a global network of storage providers.
As a pure proof-of-work layer one blockchain, ScPrime offers several technical advantages over storage tokens built on other chains. This project’s use of erasure codes, encryption, and Proof of Replication allows for reliable and redundant data storage across the network. ScPrime’s ecosystem also enables storage providers to earn income by supplying disk space, bandwidth, and computing resources.
On the client side, its open-source Relayer software provides businesses and end-users a familiar method to access ScPrime’s decentralized cloud. This includes compatibility with widely-adopted protocols like Amazon S3. Offering a drop-in public cloud replacement could incentivize rapid adoption if ScPrime can match the reliability and performance of centralized providers.
Trading at just 14 cents with a market cap of around $7 million, SCP seems overlooked compared to larger storage cryptos like Filecoin.
iExec RLC (RLC-USD)
I’m also bullish on blockchain-based cloud computing projects in the long-term. As AI, machine learning, and data analysis continue advancing rapidly, demand for cloud computing power will skyrocket over the next decade. Already, major players like AWS, Google Cloud, and Azure struggle to keep up with supply constraints on hardware chips and components. This drives up costs for anybody needing access to significant computing capabilities.
That’s where iExec (RLC-USD) comes in. This project aims to create a market network for buying and selling decentralized cloud computing resources. Their blockchain-based platform connects resource providers and users, allowing anybody to monetize spare computing capacity. iExec supports running complex workloads like big data analysis, AI training, 3D rendering, and scientific computing.
The project has been around since October 2016 and already achieved several key milestones. However, the RLC token remains fairly under the radar, with just a $175 million market cap. As more industries recognize the benefits of blockchain-based cloud computing, I expect iExec to capture a sizable share of this high-growth market.
On Low-Capitalization and Low-Volume Cryptocurrencies: InvestorPlace does not regularly publish commentary about cryptocurrencies that have a market capitalization less than $100 million or trade with volume less than $100,000 each day. That’s because these “penny cryptos” are frequently the playground for scam artists and market manipulators. When we do publish commentary on a low-volume crypto that may be affected by our commentary, we ask that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: How to Avoid Popular Cryptocurrency Scams
On the date of publication, Omor Ibne Ehsan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
