2 years ago
Nonfungible tokens (NFTs), gaming protocols and the dawn of the Metaverse were each trending topics successful 2021 and they are shaping up to beryllium adjacent bigger successful 2022.
NFTs and Metaverse-related projects are besides bouncing backmost rapidly from the market-wide downturn and Vulcan Forged (PYR) is 1 of the apical movers this week. The task is simply a blockchain crippled workplace and NFT marketplace that is successful the process of processing retired its VulcanVerse ecosystem.
Data from Cointelegraph Markets Pro and TradingView shows that aft hitting a debased of $6.59 connected Jan. 24, the terms of PYR has rallied 119% to an intraday precocious astatine $14.43 connected Feb. 1 amid a 141% spike successful its 24-hour trading volume.
PYR/USDT 4-hour chart. Source: TradingViewThree reasons for the betterment seen successful the terms of PYR see the motorboat of the Elysium testnet, the listing of 100 plots of onshore for merchantability wrong the VulcanVerse and the motorboat of a PYR span betwixt Ethereum and Polygon.
Elysium testnet launches
High fees connected the Ethereum web person been a thorn successful the broadside of protocols hosted connected the web and this has led to galore projects migrating to different networks oregon launching their ain solutions to assistance little the outgo for users.
Vulcan Forged opted to question the second by launching the Elysium blockchain, which Vulcan Forged is referring to arsenic “the blockchain for Metaverses.”
— Vulcan Forged (@VulcanForged) January 28, 2022According to announcements made astir the project, Elysium volition go the world’s archetypal carbon-neutral blockchain via a collaboration with the Netherlands-based decentralized c recognition speech Coorest.
This volition beryllium accomplished by offsetting the CO2 emitted by the Elysium blockchain with tokenized trees and the state fees from transactions volition beryllium utilized to works trees connected astir 70,000 acres of onshore owned by Coorest.
In addtion to this environmentally-friendly approach, the web is besides attracting the attraction of different protocols, with Vulcan Forged indicating that 3 different Metaverse projects person already signalled their intent to motorboat connected Elysium.
Land income spell live
A 2nd crushed for the bullish determination successful PYR implicit the past week has been the constricted listing of 100 plots of onshore successful the VulcanVerse.
— Vulcan Forged (@VulcanForged) February 1, 2022All plots of onshore are disposable for acquisition utilizing PYR, which has prompted immoderate traders to accumulate the token to marque a purchase, starring to an summation successful request and token price.
On apical of offering holders a yield of 35 PYR per period for the adjacent 4 years, onshore plots successful the VulcanVerse tin besides beryllium utilized to to gain done gameplay oregon rent.
Related: NFTs are ‘Stayin’ Alive’ arsenic caller minting trends, AI and music-based projects thrive
PYR enactment connected Polygon
A 3rd crushed for the bullish turnaround successful the terms of PYR has been the occurrence of VulcanDex, the protocols decentralized speech which presently operates connected the Polygon and Ethereum networks.
According to VulcanDeX, the protocol surpassed a full worth locked of $10 cardinal connected Jan. 29 and this fig continues to emergence arsenic PYR terms rallies.
VulcanDEX is besides successful the process of integrating a cross-chain span betwixt Ethereum and Polygon into the ‘My Forge’ conception of the DEX that volition alteration the elemental transportation of PYR tokens betwixt the 2 networks.
The views and opinions expressed present are solely those of the writer and bash not needfully bespeak the views of Cointelegraph.com. Every concern and trading determination involves risk, you should behaviour your ain probe erstwhile making a decision.
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