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Saturday, July 2, 2022

WEMIX Rises 200% After Rewards Announcement

GameFi is a new industry that has the ability to become one of the most important drivers of technology adoption.

WEMIX, a gaming protocol built on the Klaytn network, aims to join the GameFi movement, and its native coin has rebounded this week amid the market’s extended selloff.

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According to statistics from Cointelegraph Markets Pro and TradingView, its price has risen 269 percent from a low of $1.27 on May 12 to an everyday high of $4.70 on May 25, with a daily transaction volume of $652 million.

The upcoming release of WEMIX 3.0, as well as a slew of new project announcements and collaboration agreements. The installation of restricted holding for crypto owners is one of three reasons for WEMIX’s price change.

WEMIX’s New Partnership Is Attracting Attention

The mainnet launch of the protocol, which is slated for June 15, is the main show attracting attention to it. WEMIX 3.0 is a public chain that is compatible with Ether virtualization technology (EVM) and uses a consensus approach that is based on stake-based evidence.

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As part of the mainnet launch, WEMIX will launch the token as the environment’s native stablecoin. It has made a number of significant investments, including being the largest shareholder in the Old Fashion Research (OFR) crypto holdings and a stake in Jadu, a U.S.-based virtual reality metaverse company. They have launched Stake360, an incentive program that rewards the holders who commit to a longer lockup time with better staking payments. On May 17, the team also signed a collaboration agreement with the Vietnam Blockchain Association. Several games have launched or announced forthcoming debuts using the WEMIX protocol this month. New games include Crypto Ball Z, Four Gods, and Every Farm, as well as the SpoLive sports prediction game.

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