The year 2022 seems to have redefined the gaming sector by adding decentralized finance to the industry. Towards the end of 2021, the gaming companies as well as the blockchain-based platforms knew that the gaming industry would evolve with the integration of blockchain technology.
This has laid the foundation of a new sector within the decentralized finance sector known as ‘GameFi’. Although the year 2022 is just the beginning, the GameFi sector is expected to grow more adaptable in the upcoming year.
While many other financial means and innovations have failed to bring the expected mainstream adoption of blockchain technology, GameFi may be able to achieve that.
WEMIX Aims to Make Full Use of GameFi
WEMIX is now aiming to make full use of GameFi and benefit from it as much as possible. The Klaytn network-based protocol is set on the journey to bring evolution into the GameFi industry.
It was just this week, when WEMIX, the native token for the WEMIX protocol recorded a huge demand. The native token, WEMIX continued recording a strong rally despite the overall cryptocurrency market continuing to experience a downtrend.
Throughout the period when the overall market continued going through a sell-off, it was WEMIX, which continued growing in size and volume.
The data from several on-chain firms has shown that on May 12, WEMIX exhibited a low price of $1.27. However, by May 25, the trading price of WEMIX climbed to a high of $4.70. The price of WEMIX reportedly went up with the help of a 269% surge. Apart from the trading price, a great surge was recorded in the trading volume for WEMIX, which was $652 million.
Reasons that Have Led to WEMIX Experiencing Such a Strong Rally
If we deep dive into the reason behind the surge of WEMIX, we will see it happened because of three main reasons. The first one is WEMIX 3.0’s launch which is very close. WEMIX protocol has also announced the launch of multiple projects in near future. The last reason is an opportunity for the token holders they can avail themselves through lock staking.
WEMIX recently announced it is working on the launch of the mainnet for WEMIX 3.0. The development team claimed they are planning to do it by June 15.
Once launched, the WEMIX 3.0 will have the capability of being an EVM that will be public chain compatible.
WEMIX protocol has been quite busy launching multiple applications and multiple games through the blockchain networks.
Some of the additions made by WEMIX include SpoLive, Every Farm, Four Gods, and Crypto Ball Z. In all of the games, the utility token is expected to be WEMIX, thus, increasing its market demand.
Staking Rewards have increased
WEMIX recently announced the launch of Stake360. By interacting with the new feature, the users can boost their staking. This way, the users can bring in rewards that are much more useful and beneficial for the users than the ones being offered at present.