Mars Token (MRST)

Discover the basics of Mars token and find links to beginner-friendly guides that show you the best way to invest in it.
By:
Updated: Nov 22, 2022
Listen to this article

About Mars token

What is Mars token?

Mars is a metaverse gaming platform based on the planet Mars. The platform includes a ‘colony’ where users can play games, buy and sell virtual real estate, and receive leases using blockchain-based smart contracts, among other activities. The Mars token (MRST) is the cryptocurrency used to exchange on the metaverse’s ecosystem. Users can earn rewards with MRST via the platform’s Play-and-Earn (PAE) system.

How does Mars token work?

The Mars token works similarly to most cryptocurrencies. MRST is an ERC-20 token that runs on the Polygon chain, Ethereum’s layer two platforms. Every time a transaction is made on the network, it is recorded on the blockchain.

Transactions are grouped in blocks linked to each other via ‘chains’, creating a blockchain. The Polygon chain uses a proof of stake consensus algorithm which means other users on the network verify all transactions.

How is the Mars token network secured?

It is secured by the blockchain it runs on. Mars works on the Polygon chain, which uses a proof of stake consensus algorithm. This means other users on the network, known as validators, verify all transactions. Validators must stake a large number of coins before being able to verify transactions; however, for their work, they are rewarded with additional coins.

What is Mars token used for?

The Mars token is used as a means of exchange on the Mars metaverse, which is primarily used for gaming. The platform is relatively new and its features are expected to expand in the future. MRST tokens can be used to buy and sell real estate on the Mars ‘colony’. They are also paid to users for simply playing games and can be earned as a reward for staking.

Why does MRST have value?

MRST’s value comes from its use within the Mars metaverse platform. It’s the platform’s only means of currency exchange and is used for most features within the ecosystem. The Mars platform operates in the metaverse, which is expected to be an integral part of the development of WEB 3 applications. If the metaverse grows to the levels many experts believe, MRST tokens could benefit.

Who created Mars token?

The Mars was created by a team of developers and designers based in the Gangnam district of Seoul, South Korea. Its CEO is Kevin Chang, Former Head of ESTsoft MMORPG Gaming Business Operations. The wider teams include several Ph.Ds and gaming developers with years of experience.

Where can I buy Mars token?

You can buy Mars token on a crypto exchange. An exchange is a marketplace that allows you to sign up, deposit your money, and buy some crypto, just as you would with a stock platform.

Most cryptocurrency brokers allow you to keep the coins you buy in your account. However, you may want to sign up for a dedicated crypto wallet for some extra security.

You can deposit money into a broker or exchange account by a bank transfer or card payment. However, if you prefer to use a different payment method, like PayPal, then your options may be more limited.

Are there any other ways to invest in Mars token?

The simplest way to invest in Mars token is to buy it outright. However, another option is to simply open a crypto account. Crypto accounts are like regular bank accounts and allow you to store a variety of currencies, send and receive payments, earn interest on savings, and spend freely with a credit card.

More about the MRST price

What is the Mars token price today?

The MRST price is currently $0.050, as of November 14. 2022. The price of Mars token is down 83% since it was listed on 09 November 2022. You can use the live Mars token chart to track the MRST/USD price in real time above, or compare the Mars token value today to its past performance using the Mars token price history tab at the top of this page.

What is the price prediction for Mars token?

The average Mars token price prediction values the coin at $0.1 by the end of 2024. Things like the economic climate, establishment support and acceptance, and the crypto market as a whole can all have an impact on the price.

It’s best to take predictions with a grain of salt but you can use expert estimates to help you understand the weight of opinion about a coin.

What is the total supply of MRST?

The circulating supply is not available. MRST has a total maximum supply of 50,000,000,000 MRST.

Are there any Mars token alternatives?

The Mars token is a metaverse coin and there are lots of alternatives to it. Many metaverse coins follow a similar model based on virtual worlds and gaming. Below is a selection of the best MRST alternatives.

  • Decentraland. Decentraland is a metaverse gaming project
  • Starlink. Starlink is a metaverse game based in outer space
  • Sandbox. Sandbox is a blockchain-based game.

More crypto guides

FAQs

Is Mars token safe?
Has Mars token been hacked?

Recent Mars token price analysis

Ethereum price prediction for December 2022
December 1, 2022
LINK price movement after preparations to launch staking on Ethereum
December 1, 2022
VIDEO: A metaverse company without a cryptocurrency to speculate on, David Lucatch, Liquid Avatar Technologies
November 30, 2022
Best GameFi projects that can rise in December
November 30, 2022

Sources & references
Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

Prash Raval
Financial Writer
When not researching stocks or trading, Prash can be found either on the golf course, walking his dog or teaching his son how to kick a… read more.