We’ve seen a couple of price surges recently, but none has been as surprising as WEMIX, which has risen by 104.37% in the past 7 days. The project combines gaming and blockchain technology and has developed into an impressive ecosystem.
WEMIX isn’t a newbie in the crypto industry. It was launched in 2018 and has evolved into a platform designed to support DeFi protocols, NFTs, games, and decentralized applications (dApps). Let’s explore more about this protocol.
What is WEMIX?
WEMIX has enjoyed some success in the gaming sector and has popular games like CrypTornado, GalaxyTornado, and MIR4. The WEMIX coin powers the entire ecosystem. It is used for in-app purchases, payment purposes, DAO governance, staking, and connecting applications.
#WEMIXPLAY & PLAY Wallet are now Updated!📢
▶ WEMIX PLAY
• NFT Service Open
👉New Marketplace, Drops, etc.
• #WEMIX PLAY Optimization
▶ PLAY Wallet
• Mainnet NFT Support (AOS)
• PoET Reward Service
📆Date: Sep. 22nd, 2023 at 21:30
— WEMIX (@WemixNetwork) September 22, 2023
Furthermore, the USDC stablecoin backs the WEMIX coin to reduce price volatility and provide a stable ecosystem for dApps. In addition, users who stake the WEMIX coin can take part in its on-chain governance. This means they have a say in the steps the project takes.
Several companies are currently attempting to integrate blockchain technology into their operations. The gaming industry is no different. WEMIX is developing a network and services integrating blockchain technology with fundamental gaming elements.
Wemade and SK Planet enter strategic partnership to drive blockchain and platform business growth
— WEMIX (@WemixNetwork) September 18, 2023
More About WEMIX
One of the biggest problems with blockchain gaming has been the need for a more enjoyable experience. And it appears that’s what WEMIX is solving. It seeks to provide value and in-game content.
For example, it integrates blockchain technology into MMORPG dungeon hunts, farm and factory construction, blockchain fishing holes, and other activities. This differentiates them from other regular and simple games already on the market.
Two U.S. Game Developers are Onboarding Their Games on #WEMIXPLAY by Wemade
• Basketball-themed Ballies and soccer strategy game EL JEFE FUTBOL to be serviced on #WEMIX PLAY
• NFT trade will be supported on WEMIX PLAY Marketplace
• The platform to expand its global… pic.twitter.com/yGNhFr2WHG
— WEMIX (@WemixNetwork) September 18, 2023
WEMIX also leverages NFTs to distinguish its platform. All games on the platform share a similar gamification model. This means they can share collectibles and items from different games. So, this collective sharing results in a decentralized market within the ecosystem.
The WEMIX Ecosystem
Wemix has a complete ecosystem. This includes several games that are interconnected and cooperate. The ecosystem features:
- Wemix Play: is built to become one of the fastest and biggest play-and-earn gaming platforms.
- Wemix: a stablecoin with 100% collateralization of on-chain and off-chain assets
- Wemix Wallet: is the decentralized native wallet of Wemix.
- NILE: is a DAO-powered community platform. It helps to manage projects through programmable smart contracts.
Top #Web3 PJTs by #Certik Trust Score@Certik Trust Score is an index measuring a crypto project's relative security, market performance, and social sentiment.$WEMIX $LTO $FET $THETA $POND $YOOSHI $OCEAN $IMX pic.twitter.com/DqLtxB1RHK
— Cryptolaxy #StandWithUkraine (@Cryptolaxy) September 6, 2023
- WemixFi: is a DeFi platform that provides services such as swaps, bridges, staking, and pools.
- Papyrus: a communication tool that links users with similar interests based on the NFTs and tokens that they hold.
The project’s ecosystem is broad. This shows that the team is visionary and plans to build a detailed community.
The Recent Price Movement of WEMIX
As mentioned earlier, WEMIX has been in good form. The project’s token experienced a 104.37% price increase in the past 7 days. WEMIX recorded a 10.70% price increase in the last 24 hours alone.
The WEMIX token trades at $1.06 and has a circulating supply of 317.8 million WEMIX. In addition, it has a market cap of $326.9 million.
WEMIX performed pretty well during the last bull run. It recorded its all-time high of $24.71 on November 21, 2021. This shows that the project has huge potential to replicate similar performance once there are improved market conditions.