Recently, the Hoo exchange has once again aroused the attention of the community, especially in the GameFi sector, where multiple tokens have launched and high rallies have made Hoo a nugget place for more and more investors.
On October 15, Hoo launched RadioCaca (RACA), a popular project on the GameFi track. The opening price of RACA on the Hoo Exchange was $0.0008. As of 11:30 on November 11 (UTC+8), the price was $0.00785, an increase of 981.25%.
On October 27th, MANA, the top project of the GameFi, rose from $0.724 to $4.668, a surge of 644% in just three days. MANA is a Decentralized token in the GameFi sector, and it was launched on Hoo on March 16 .
On November 9, Hoo launched HE and DMLG on the GameFi section. The opening price of HE was $0.183, and the highest price was $0.4132, an increase of 225.79%. DMLG’s opening price was $0.205, and the highest price was $0.464, an increase of 226.34%
On November 10, the price of AXS (Axie Infinity), a project at the head of the GameFi board, rose to $152, an increase of 2763%. AXS was launched on Hoo on March 16. Axie is a metaverse concept blockchain game. It belongs to the NFT game sector and is the top project in the GameFi sector.
It can be seen that more high-quality projects have been launched in advance on the Hoo GameFi section. Hoo is committed to selecting high-quality blockchain projects, and its ability to discover high-quality projects has also made Hoo become a leader in the new generation of exchanges.
GameFi refers to the presentation of financial products in the form of games. Now the most widely interpreted by the market is the collective name of the most popular blockchain games in the encryption circle. It combines decentralized finance (DeFi) and non-fungible tokens (NFT) with online games based on blockchain technology.
The structure of GameFi allows players to earn money through the game, and the ability to earn money is the focus of external publicity. Although it does not mean that everyone will definitely earn money from it, this game model gives the player an opportunity to make money. In this model, players can sell their in-game items on the trading platform in the Crypto Market exchange for real money. Developers are inventing new ways to use cryptocurrency to buy and trade in-game merchandise, cosmetics, character unlocks, and more. It can be said that GameFi is the ultimate combination of gaming and finance.
Blockchain gaming allows players to own their in-game items instead of the developer. This means there is no need for any type of server infrastructure, which eliminates any possibility of game hacking or cheating, which is why GameFi is so popular right now.
The relevant person in charge of Hoo said that Hoo has its screening logic for the metaverse sector projects, and they pays more attention to whether the project can continue to create value for users. Take AXS as an example. The Axie Infinity game was invented and developed by Vietnamese, and most of the current users of Axie Infinity, it is concentrated in Southeast Asian countries such as the Philippines, Indonesia, and Vietnam. Since users in Southeast Asian countries spend a month to play this game and exchange the token into the local currency which is higher than the local monthly average income, it is popular in Southeast Asia. “The Hoo Exchange will continue to pay attention to the GameFi sector.”
According to Tokenterminal, as of November 11, Axie Infinity’s revenue was second only to Ethereum in the past 90 days. The ranking reached a staggering second place, with total revenue of 682.3 million US dollars.
(Image from Tokenterminal)
In response to this phenomenon, industry professionals say that “Play to Earn” is still at a relatively early stage, but once a good project develops, its tokens will increase accordingly. Hoo is still the leader in this track at the moment. By following the new projects that Hoo has launched,investors can also benefit from following the industry hot spots in the first place.