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New Play-to-Earn Altcoin on Ethereum Soars 15,000% in Just Four Months, Shatters $1,000,000,000 Market Cap

dailyhodl.com 25 November 2021 20:04, UTC
Reading time: ~2 m

A new alien-themed gaming token is leaving earth’s atmosphere as the overall metaverse trend continues to sizzle.

Decentralized social gaming platform UFO Gaming (UFO) is built on the Ethereum network and features a “Dark Metaverse” where users can create their own clans, own and trade virtual land and earn crypto or non-fungible tokens (NFTs).

Data from CoinGecko highlights UFO’s meteoric rise since first launching in July, jumping 15,379% from its initial price of $0.000000350110 to today’s value of $0.00005418.

The altcoin has surged 150% in the past week alone.

The team behind UFO says the ecosystem intends to be community focused and feature a wide variety of unique planets.

“When a new planet is discovered, a new game is not far behind. Each game will be dedicated to one planet in its own sub-economy of the entire Dark Metaverse.”

UFO project priorities include,

“A platform for decentralized gaming, choose your favorite genre to earn from. Asset ownership [that] is fully determined by the users. Gaming assets (NFTs, currency) that may be transferred from one platform to another. Play-to-earn [P2E] gaming economy that is transparent and sustainable.”

Token holders can earn “plasma points” from staking while the largest holders have DAO (decentralized autonomous organization) voting rights to determine the future of the UFO metaverse.

At time of writing, UFO is ranked 107th in market cap, with a total value above $1.4 billion.

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