Space Crypto: A Good Investment Option?

SPACE ID is a blockchain-based digital asset that aims to streamline online identity management through unique domain names. It is a decentralized, one-stop identity platform that enables users to discover, register, trade, and manage their web3 domains across different blockchains. The platform is built on a Web3 Name SDK & API, which allows developers to access a multi-chain name service for building decentralized applications and services that require user identity verification. The SPACE ID token (ID) is the native token of the SPACE ID ecosystem and plays a critical role in the project's growth and sustainability. It is designed to incentivize users to engage with the project and contribute to its success. As of March 2023, SPACE ID was trading at around $0.57591, with a 24-hour trading volume of $55,443,376. With its innovative approach to domain name ownership and identity verification, SPACE ID presents a compelling investment opportunity in the blockchain space.

SPACE ID's unique value proposition

SPACE ID is a blockchain-based digital asset with a unique value proposition that sets it apart from other cryptocurrencies. While most cryptos focus on transactions, SPACE ID prioritises identity verification and asset management, addressing an issue that has long plagued 3.0 developers.

Until SPACE ID, there was no easy way to validate a person's identity without requiring them to provide vital information, which then remained in the control of third parties, making it a target for hackers. SPACE ID solves this problem by providing a way for users to validate their identity without compromising their personal information. It does this by operating as a chain-agnostic system, meaning it can work across a variety of decentralised protocols. This enables users to create a single digital ID that can be recognised across all aspects of the Web 3.0 environment, from social interactions to business transactions.

SPACE ID also offers backward compatibility, meaning it can be used for Web2 activities like logging into emails and exchanges. It also has an intuitive interface that streamlines activities such as sending and receiving digital assets.

SPACE ID is an open-source project, which means it has been vetted by the community and is more secure. It also supports the issuance and trading of NFTs, and it can function between private and public networks, as well as between decentralised and centralised networks.

The SPACE ID token (ID) is the native token of the SPACE ID ecosystem. It is used for staking, payments, and voting, and it provides access to various ecosystem services. It is also used to pay fees and send value.

SPACE ID is a compelling investment opportunity in the blockchain space, offering robust infrastructure for ambitious projects. With a growing user base and transaction numbers, confidence in its potential is increasing.

The SPACE ID ecosystem

SPACE ID is a decentralised, one-stop identity platform that enables users to discover, register, trade, and manage their web3 domains across different blockchains. It is a universal name service network with a Web3 Name SDK & API, which allows developers to access a multi-chain name service. This service helps to build decentralised applications and services that require user identity verification.

The SPACE ID platform allows users to create, customise, and manage virtual spaces for gaming, socialising, education, and business. It provides a single portal to manage all web3 names and domains. The ID token is the native token of the SPACE ID ecosystem and has several functions:

• Staking: Users can stake ID tokens to receive discounts on trading fees and domain registration fees in the SPACE ID Domain NFT Marketplace.
• Payments: ID tokens are used as a means of payment within the SPACE ID ecosystem and for Web3 Name SDK Integration.
• Governance: ID token holders can participate and vote on SPACE ID DAO proposals, allowing them a say in the direction and future of the project.

The SPACE ID 3.0 platform will also provide communities with tools to launch their desired Top-Level Domains without any development effort. This will further simplify the process of integrating verified Web3 domains. The platform has already been integrated by 200+ partners and is trusted by industry professionals.

SPACE ID's market performance

SPACE ID is a blockchain-based digital asset that aims to streamline online identity management through unique domain names. It prioritises user identity and asset management, addressing a less-explored niche in the blockchain space. The SPACE ID platform includes a multi-chain name service and a Web3 Name SDK and API for developers.

SPACE ID is the native token of the SPACE ID ecosystem, with several functions:

• Staking: Stake ID tokens to receive discounts in the SPACE ID Domain NFT Marketplace trading fees and Web3 domain registration discounts on SPACE ID.
• Payments: Used as a means of payment within the SPACE ID ecosystem and for Web3 Name SDK Integration.
• Governance: ID token holders can participate and vote on SPACE ID DAO proposals.

The SPACE ID Token was launched in March 2023 through an Initial Exchange Offering (IEO) on Binance at $0.025 per token. It soared to an all-time high of $1.03 in April 2023, but then experienced a sharp decline, hitting an all-time low of $0.1763 by August 18. As of September 24, 2023, SPACE ID had stabilised at around $0.1948, which is still 679.19% above its initial IEO price.

The live SPACE ID price as of March 17, 2024, is $0.417268 USD, with a 24-hour trading volume of $131,948,850 USD. SPACE ID is up 10.53% in the last 24 hours, and its current CoinMarketCap ranking is #166, with a live market cap of $312,035,093 USD. It has a circulating supply of 747,805,028 ID coins and a max supply of 2,000,000,000 ID coins.

According to a SPACE ID price prediction for 2024, the maximum price could reach $0.4665, with an average price of approximately $0.412 throughout the year. For 2025, the maximum level is expected to be around $0.7027, with an average value of $0.5871. By 2026, the average trading price is expected to be $0.8366, with a peak of $1.01.

In the longer term, by 2028, the average trading price is predicted to be $1.75, with a maximum of $2.00. By 2030, the average trading price is estimated to be $3.88, with a maximum of $4.39. By 2035, the average price is expected to be $44.924, and the maximum could be $45.657.

Overall, SPACE ID has the potential to be a good investment. It has strong fundamentals and the backing of a dedicated crypto community. Its unique proposition in the realm of digital identity management adds value to its utility. Analysts project a growing market for blockchain-based identity solutions, with SPACE ID positioned to benefit from this trend. The SPACE ID platform continues to evolve with constant innovations, and its focus on interoperability across blockchains could make it a keystone in the crypto ecosystem.

The SPACE ID DAO

The DAO's role extends beyond decision-making; it also ensures the network's sustainability and adaptability. By involving the community in the platform's development, the DAO helps to future-proof the project by staying ahead of the tech curve. This proactive approach has led to strategic development milestones being met, keeping SPACE ID at the forefront of domain name utility in the crypto economy.

As SPACE ID continues to evolve and expand its capabilities, the DAO will play an increasingly vital role in guiding the project's direction and ensuring its alignment with the community's needs and expectations. The democratic and transparent nature of the SPACE ID DAO is a key differentiator, setting the project apart from its competitors and solidifying its position as a pioneering force in the decentralised name service market.

The future of SPACE ID

The SPACE ID ecosystem is built on robust infrastructure, providing the necessary tools for ambitious projects and innovative ideas to materialize. The SPACE ID token is at the heart of this ecosystem, serving as a governance currency and facilitating staking, payments, and voting. With a growing user base of over 1.6 million active monthly users and a high volume of transactions, SPACE ID is gaining traction in the crypto market.

SPACE ID's interoperability is a key advantage, as it is designed to function across private and public networks and connect decentralized and centralized networks. This makes it an ideal platform for bringing together people, information, and assets in the new economy. The protocol also supports the issuance and trading of NFTs, which further enhances its appeal in the art, gaming, and real estate sectors.

The developers behind SPACE ID are aware that a user-friendly experience is crucial for attracting new users to the decentralized economy. Thus, they have created an intuitive interface that allows users to manage their digital assets efficiently. This user-centric approach, combined with the protocol's functionality and security, bodes well for the future of SPACE ID.

In terms of price predictions, analysts expect SPACE ID to reach record highs in the next 5 to 10 years. By 2025, the maximum price of the SPACE ID coin could be around $13.385, and by 2030, it may reach $30.988. These projections are based on the assumption that the current bullish trend will continue, and partnerships with other networks will be formed.

However, it is important to remember that the cryptocurrency market is highly volatile, and predicting exact price movements is challenging. SPACE ID, like any other investment, carries risks, and investors should conduct thorough research before making any decisions. Nonetheless, with its strong fundamentals, dedicated community, and innovative features, SPACE ID has the potential to be a sound long-term investment option.

Frequently asked questions