Everything you need to know about BurgerCities

The 'metaverse' – how much do you know about it? You may have heard the term used, even if you're not sure what it is. Or perhaps you're on top of all the developments in this virtual world. After all, forecasts estimate the market will be worth $800 billion by 2024. It's no surprise, therefore, that some of the latest cryptocurrencies are emerging in this space. One such example is BurgerCities.

BurgerCities (BURGER) first launched in 2022 and is deeply immersed within the metaverse as it currently looks. If there's such a thing as a conventional cryptocurrency, it's not likely you'd describe this as one. But do its unique attributes give enough of a pull to traders and investors who are building or diversifying their portfolios? How do its price predictions stack up as far as the value of your potential investments?

FXCM takes an in-depth look at BurgerCities and what it could mean for you.

What is BurgerCities?

To start with, there was BurgerSwap. This was a decentralized finance (DeFi) platform built on the Binance Smart Chain. It went live in the second half of 2020 with the aim of letting people swap crypto coins, assets and tokens on one platform. To do this, BurgerSwap made use of an automated market maker (AMM). But then DeFi projects started to fade in their popularity.

So, BurgerCities marked an evolution in the BurgerSwap project. It took DeFi and non-fungible tokens (NFTs) and integrated them with the metaverse. 'MetaFi' is what is being used to describe this step-change in the venture. And the result is now an online game or environment in which users can "engage in daily activities such as socialising, gaming and so on".

As well as these daily activities, however, users can still leverage the DeFi and NFT functionality to trade and stake virtual assets. For the end user, it's presented as an online game; the portal into the BurgerCities universe. Unsurprisingly, it has its own native token – BURGER. And this is a BEP-20 token standard that can be used for providing liquidity, token mining, or trading NFTs.

When did BurgerCities go online?

The BurgerCities universe is a relatively new addition. After the completion of development and testing in the first part of 2022, the first edition (Alpha version) went live in early summer 2022 with more than 100 partners. By the end of 2022, all features will be available for users. One of these will be the chance to create buildings that can then be rented to other users.

It can be found online here: https://app.burgercities.org/

How does BurgerCities work?

In addition to the BURGER token, several components comprise the BurgerCities gameplay experience. The first is Central NFT – Heroes, which are characters that you can buy in the form of NFTs that are unique to the platform. The characters can then be used in quests, Player vs Player (PvP) battles, or professions.

But you don't need them for swapping, staking or providing liquidity.

• The Black Market is one of three main 'buildings' in the universe. Here, aggregation protocols are used to source liquidity from other exchanges. The aim is to ensure you get the best price when you want to swap tokens.
• The second of the three main 'buildings' is the Central Bank. It's a single-coin, dual-mining revenue aggregator where users can stake their tokens. By doing so, you can earn yield and maximise your mining returns. Gains are paid out in Tether (USDT).
• Third is the Energy Plant, which gives users the chance to be liquidity providers. In return for choosing this option, you'll receive token rewards.

Users can also earn from buying and selling virtual land. According to the official BurgerCities blog, there are several reasons for doing this. The first is to build and style the home you always wanted, for example. But another option is for the placement of advertising.

How do I earn BURGER?

For some, the fact that BURGER can only be used in the gaming universe is a disadvantage of the token. But it can be quickly and easily exchanged for other crypto tokens or coins.

To get started, one option is to buy the native token outright from a variety of exchanges. Yet, it can also be earned in the universe by providing liquidity. In any block, there are 40 BURGER tokens. Miners will receive a share of this allocation based on how much liquidity they provide. Each block is limited to 120 BURGER, while the supply is a minimum of 1 BURGER.

As of September 2022, 40% of BURGER rewards went to those who provided liquidity. Meanwhile, 30% were allocated to those taking part in governance and 30% of rewards were burned forever.

What are BurgerCities NFT Skins?

The NFT skins that were handed out at events do more than just reflect a user's status in the game. The skin gives a user a 'Play To Earn' incentive redeemed within the game. The intention is to keep users within the game with the promise of a potential reward.

How many BurgerCities coins are there?

The BURGER token first emerged in September 2020 – mainly as an incentive to users who'd provide liquidity to BurgerSwap. At the time, the original cap was 21 million tokens. But that changed in summer 2022 when more tokens were introduced to coincide with the creation of BurgerCities. It was not a move that was universally welcomed.

"Due to the mismatch between the progress of the product and the timing of token issuance, BurgerCities chose to issue tokens first and then announce it to our community," read a blog post from founders. "This approach is not well thought out and does not take into account the feelings of our community."

The outcome? All extra tokens were burned – and the total number of BURGER tokens moved back to 21 million. It was a short-lived development, however. In August 2022, the maximum supply of BURGER coins tripled from 21 million to 63 million.

By mid-September 2022, its circulating supply was in excess of 24 million.

What affects the USD value of BurgerCities?

In the initial weeks after its launch, the BURGER token struggled to achieve a USD value of $1. But the rise of DeFi and NFTs at the start of 2021 had a positive impact on that. From the start of the year, BURGER grew in value to reach $15.78 in late February 2021. It fell back in March and April – but again surged in May to hit what, to date, is an all-time high of $28.01.

The trend in BurgerCities' value was already a downward one when the cryptocurrency markets took a tumble in early 2022. External factors such as Russia's invasion of Ukraine also impacted the performance of BURGER.

That said, there are unique attributes that can affect its value. In particular, announcements concerning integrations and partnerships are worth keeping an eye out for. One example can be seen in a partnership with Web3 co-creation platform StarryNift. This saw the BURGER price go as high as $3.46, which is one of its most recent high points.

How to buy and trade BurgerCities

As mentioned, the BURGER token can only be used within the BurgerCities gaming universe. It can't be exchanged directly for other fiat currencies or crypto tokens on external platforms. It's still possible to trade it, however – with several cryptocurrency pairs available to investors.

Of course, another option is to buy the token on one of several exchanges. You can then use it within the gaming universe to earn rewards that are then paid out in TETHER.

Is BurgerCities a good investment?

Looking at BurgerCities as your next crypto investment? Due to the distinct nature of this token, there are two main reasons why you might consider this to be a worthwhile investment.

The first is for those investors who are interested in becoming more immersed in the idea of the metaverse. As the native token for the BurgerCities world, investing in BURGER is the best way to make use of all its features. It gives you the option to stake, swap, and provide liquidity. And with it comes the potential for earning rewards.

The second reason for mulling BURGER as an investment is its potential for price movement. In comparison to other cryptocurrencies, it maintains a relatively modest value in USD terms. That said, its H1 2022 price drop actually compared favourably with the overall crypto market. So, it points towards both resilience and the ability to exceed expectations as an investment.

BurgerCities price predictions

As of 21 September 2022, the price of BURGER was trending just below $1. It's far short of its all-time highs but has still rallied from some of its more recent lows. Of course, performance in the past is no indication of what might come next for BurgerCities and its native token. With that in mind, here are some of the predictions from various analysts:

• The forecast from DigitalCoinPrice.com is that BURGER could build some momentum in the coming years, with a potential maximum price of $4.08 in 2025. There will be some fallback in 2026, however, before the price could start to rise once more.
• The one-year forecast from WalletInvestor.com is for BURGER to be worth $2.23 – and then up to $7.00 in five years.
• PricePrediction.net is predicting modest growth in the value of BURGER for the next five years. After that, its sentiment is more bullish – with a forecast maximum price of more than $10 in 2028 and $24.42 in 2030.
• While CoinCodex.com is bearish in its outlook for the rest of 2022, the prediction is for year-on-year growth – particularly in a best-case scenario – starting in 2023.

BurgerCities: The right investment for you?

Using the information now at your fingertips, the question is whether BURGER is the investment you want to make next. It is essential to remember that any crypto investment brings with it an inherent risk. There are no guarantees of performance. And the market continues to be exposed to factors that can cause extreme volatility. So, it's a decision to take some time over.

BurgerCities is perhaps one of the frontrunners in exploring how DeFi and the metaverse could combine. As such, the fortunes of BURGER are arguably linked to uptake and scope. That is one aspect that may just make you consider this for your next (long-term) investment.

No matter what you decide, however, remember that FXCM gives you the chance to trade some of the most popular cryptos – all with no commission. You'll find real-time crypto quotes to help you. Our award-winning platform also means you can open a leveraged position at a fraction of the underlying price. Open your account today and explore what FXCM has to offer.