UFO Gaming Hits $1bn Market Cap After Soaring 15,000% in Just 4 Months
Reported by MarketNews: UFO Gaming, the decentralized gaming platform bridging traditional games onto the blockchain, has officially hit a $1 billion market cap. The gaming company continues to experience a rise in demand and has even been compared to competitors Axie Infinity in expert projections of success.
Despite being down from the price high, UFO Gaming ($UFO) tokens have gained over 150% in the last two weeks. CoinGecko data shows that UFO’s value has jumped over 15,000% from its launch in July, from $0.00000035 to $0.000054. This is a notable achievement for a token that launched just earlier this year and is yet to release its debut game, Super Galactic in Q4 2021, showing it has plenty more in the tank.
UFO Gaming Growing Rapidly
In the short time since they’ve launched, the team behind UFO Gaming have already established themselves as serious players in the GameFi space. They recently announced themselves as Technology Sponsors of ChainLink’s prestigious Fall 2021 Hackathon, alongside industry leaders such as GoogleCloud, EY, and FileCoin.
Additionally, the gaming company made headlines recently for becoming the first-ever P2E platform to host an E-Sports tournament, hosting an Apex Legends Tournament that featured Twitch streamers Apryze and Nokokopuffs and had a significant $10k cash pool at stake.
The Future of Gaming
Having accomplished one of their major goals for the year, UFO Gaming has wasted no time in setting their sights on bigger and better. With a few prestigious partnerships already under their belt, the team continues to target AAA studios to develop highly playable games as well as its Dark Metaverse with tangible value for their players.
The company’s debut game, Super Galactic, features RPG-style gameplay and allows players to generate in-game assets, such as skins or weapons, which can be used within quests. Gamers can additionally purchase Virtual Land, treated as NFTs in the game, staked to earn rewards from the game’s revenue.
With so much yet to be uncovered (Super Galactic, Metaverse, NFTs, Tournaments and more), the $1 billion market cap has been successful in capturing the attention of industry veterans and P2E gaming enthusiasts alike. If past success is anything to go by, UFO Gaming will be a token to watch for the year ahead and the best is yet to come.
UFO is now ranked the 107th cryptocurrency by market capitalization, with a total valuation of over $1billion.
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