NFT collections gain over 600%, is MOOKY next in line?
Mr. Pratik chadhokar is an Indian currency, cryptocurrency and financial market advisor and analyst with a background in IT and financial market strategist. He specializes in market strategies and technical analysis and has spent over a year as a financial market contributor and observer. He has strong technical analytical skills and is known for his entertaining and informative analysis of the financial markets.
Some believe that the metaverse is going to be a revolutionary technology, while others believe that the concept is already dead. The cryptocurrency market as a whole was down for the past 24 hours, but several metaverse tokens saw the green light today. MOOKY (MOOK), an eco-friendly crypto project, has the potential to join the list of the best metaverse coins.
A quick look at the NFT Market
Decentraland (MANA) is today’s top winner considering that the token has gained over 10% in the last 24 hours. Apecoin (APE), the native token of the Bored Ape Yacht Club’s (BAYC) metaverse, rose over 1% while The Sandbox (SAND) grew over 6%. As of now, Internet Computer (ICP) is at the top in terms of market capitalization with a project value of $2.2 billion at the time of writing.
While MOOKY hasn’t exactly entered the realm of the metaverse, it offers a non-fungible token (NFT) collection with exclusive benefits to its holders. NFTs are an integral part of virtual economies as monetization is a core element of the web. Games like Axie Infinity (AXS), The Sandbox and more allow players to use in-game assets as NFTs.
MOOKY is an environmentally focused project where the team intends to plant over 10,000 trees globally. The project itself operates on blockchain technology which has been considered dangerous due to carbon emissions. This is a unique initiative that shows that technology can also be used to counteract climate problems. A report from the International Energy Agency (IEA) states that emissions were increased by almost 321 million in 2022 globally.
A few NFT collections have recently made huge gains. According to DappRadar, CryptoPunks gained almost 600% in the last 24 hours. Similar activity was halted a few days ago when the digital collectibles saw volume increase to $1.35 million. CryptoPunk #5661, CryptoPunk #7770, CryptoPunk #47 were the top grossing NFTs from the collection during the period, collecting around 180 ETH.
Recent Yuga Labs collection HV-MTL was among the top performing NFTs with the number of sales increasing by over 200% while volume increased by almost 140%. Moonbirds, a metaverse project, saw volume reach over $215,000 with over 85% growth. Meebits, a voxel NFT collection, gained almost 120% in the market.
The strength is still there
This data shows that the metaverse and NFT market has continued to strengthen despite what others say. Meta, the tech giant, summoned the metaverse mania while the same company is rumored to have buried its dream. However, Mark Zuckerberg said that they will focus on the metaverse in the long term, while on AI in the short term.
There are several projects still working in and experimenting with the metaverse. MOOKY is among such initiatives while enabling people to contribute to the environment using blockchain technology.
Disclaimer
The views and opinions expressed by the author, or any person mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
