NFT Collections Gaining Over 600%, Is MOOKY Next in Line?

Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.

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Some believe that the metaverse is going to be a revolutionary technology while others believe the concept is already dead. Cryptocurrency market as a whole was down in the past 24 hours but several metaverse  tokens saw green light today. MOOKY (MOOK), an environment-friendly crypto project, has potential to join the list of top metaverse coins.

A Quick Take at The NFT Market

Decentraland (MANA) is today’s top gainer considering the token gained over 10% in the past 24 hours. Apecoin (APE), native token of Bored Ape Yacht Club’s (BAYC) metaverse, was up by over 1% while The Sandbox (SAND) grew by over 6%. As of now, Internet Computer (ICP) sits at the top in terms of market capitalization with a project valuation of $2.2 Billion at the time of writing.

While MOOKY has not exactly entered the metaverse realm, it offers a non-fungible token (NFT) collection with exclusive perks to the holders. NFTs are an integral part of virtual economies considering monetization is a core web element. Games like Axie Infinity (AXS), The Sandbox, and more enable players to use in-game assets as NFT.

MOOKY is an environment focused project where the team intends to plant over 10,000 trees globally. The project itself operates on blockchain technology which has been considered hazardous due to carbon emissions. This is a unique initiative depicting that the technology can also be used to counter the climatic issues. An International Energy Agency (IEA) report says that emissions were enhanced by almost 321 Million in 2022 globally.

A few NFT collections garnered massive gains recently. According to DappRadar, CryptoPunks gained almost 600% in the past 24 hours. Similar activity was stopped a few days back when the digital collectibles saw the volume rising to $1.35 Million. CryptoPunk #5661, CryptoPunk #7770, CryptoPunk #47 were the highest grossing NFTs from the collection during the period, garnering around 180 ETH collectively.

Recent Yuga Labs collection HV-MTL was among the top gaining NFTs with the number of sales rising by over 200% while volume rose by almost 140%. Moonbirds, a metaverse project, saw volume reaching over $215K with over 85% growth. Meebits, a voxel NFT collection, gained almost 120% in the market.

Strength is Still There

This data points that the metaverse and NFT market still got strength in spite of what others are saying. Meta, the tech giant, summoned the metaverse mania while the same company is being talked about that they have buried their dream. However, Mark Zuckerberg said that they will focus on the metaverse in the long run, while on AI, in the short run.

There are several projects still working in and experimenting with the metaverse. MOOKY is among such initiatives while also enabling people to contribute to the environment using blockchain technology.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.