- Constantly engaging with at least 20 games as of today, according to the official website.
- WEMIX unveiled a fan token system for content creators to engage with community members.
The crypto market has enjoyed a profitable January with some gains extending in February. With Bitcoin up 40 percent in January, low-cap crypto coins have recorded higher volatility. A blockchain gaming platform dubbed WEMIX saw its native coin WEMIX run nearly 300 percent YTD. According to our latest crypto price oracles, WEMIX coin posted lows of about $0.353 and highs of approximately $1.55 during the past 30 days.
Closer Look at WEMIX Gaming Protocol
The WEMIX protocol takes pride in a vibrant community of over 378k users constantly engaging with at least 20 games, according to the official website. As a result, the project developers are constantly working on updates to keep up with the players’ needs. For instance, WEMIX unveiled a fan token system for content creators to engage with community members. The company noted.
Fan Token is an interactive donating system in which both creators and fans can grow together to benefit from the increasing token value by purchasing the Fan Tokens issued by the creator,
The newly introduced fan token system has helped the WEMIX platform attract more users and money in return. Furthermore, one of the initial fan tokens on the WEMIX platform has scaled to a market cap of over $100 million.
#WEMIX PLAY’s First Fan Token #MYRTLE exceeds 100m USD in market cap
Medium: https://t.co/jxklFULkzq
– Creator manages token minting & usage such as profit distribution, fan events etc.
– High-water mark method connects the value rise of Fan Token to expansion of fan community— WEMIX (@WemixNetwork) February 1, 2023
The South Korean-based company has been working to engage with other blockchain projects focused on gaming technologies. For instance, the company announced a strategic alliance by signing an MOU with London-based Metaverse engine developer Metagravity, earlier this week.
Additionally, the company has opened offices outside South Korea in a bid to achieve higher market competitiveness. Last month, the company opened a regional office in Abu Dhabi. Jason Kim, Director, WEMIX, noted.
We aim to be an anchor for both Korean blockchain companies expanding into MENA as well as local government agencies, companies and brands in the UAE and across MENA which are interested in blockchain-related projects,
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As a result, the WEMIX has seen its fully diluted market capitalization rally to $1,295,557,362 in the past few weeks. Notably, the WEMIX coin has registered a 24-hour trading volume of about $9,941,36.
Side notes
The crypto gaming market has enjoyed significant adoption due to their innovations and ability to incentives both content creators and players. Nonetheless, the risk of a global market recession may put an end to the high gains posted by the crypto industry. Moreover, most market economists believe the leading economies are either going to slow down or post mild recessions. As a result, crypto traders are warned to take necessary precautions to avoid forced liquidations.
