Altcoins exist for a variety of reasons, the most important of which is that anybody may produce one without requiring authorization. Others have launched altcoins to compete with bitcoin, claiming that their projects provide superior privacy, decentralization, or focus on something that bitcoin cannot. Then there are some that serve a practical purpose. Personally, I like currencies that have use, which is why I like the ARCADE platform, where $ARCADE holders may earn substantial rewards from various Play-to-Earn metaverse games without having to play or even own NFTs. As a result, I anticipate that many more cryptocurrencies will be released in the future, improving the crypto ecosystem.