There are dozens of new cryptocurrencies getting listed on decentralized exchanges every day. Some end up making people millionaires, while others cause massive losses to anyone who’s not the developer. In this article, we will go over 3 recently released Metaverse coins on PancakeSwap, whose fully diluted market cap increased to over $100 million in under 24 hours.
The list below is ordered by market cap, lowest to highest.
#3 War of Tribes (WOTG) – $227 million
War of Tribes is a Play-to-Earn NFT based MMORPG Game planned to launch in Q1 2022. The upcoming game will feature PvP arenas, allowing players to challenge their enemies and win NFT prizes after each battle.
According to their official website, the NFTs are planned to be released in December, followed by a CEX listing in January.
The hype is definitely real with War of Tribes, as achieving a quarter million dollar fully diluted valuation without even an alpha release is something that only happens in crypto markets.
Blockchain based GameFi / Metaverse projects are all the hype these days, and it’s great to see War of Tribes receive such a positive response from the market.
At the time of writing, WOTG is trading at $0.22, up 290% in the past 24 hours. War of Tribes’ fully diluted market cap is at $227 million, with a 24 hour trading volume of $2.5 million.
#2 Doconchain (DOK) – $374 million
Doconchain describes itself as a decentralized talent network that looks to use web3 technology to reinvent the Gig economy. The Doconchain suite of tools include a myriad of document and NFT solutions that help developers and creators manage them.
The DOK Token is their utility token that’s built on the Binance Smart Chain. It’s meant to be used in their upcoming Gig marketplace.
After launching on PancakeSwap last night, DOK token traded around the $0.3 level for 16 hours, until the price jumped to a high of $0.48 within the span of an hour. Since then, DOK token has been looking for support at $0.3, currently trading at $0.37 at the time of writing.
At the time of writing, DOK is trading at $0.37, up 11% in the past 24 hours. Dokonchain’s fully diluted market cap is at $374 million, with a 24 hour trading volume of $406 thousand.
#1 Elpis Battle (EBA) – $388 million
Elpis Battle is a tactical turn-based game hosted on the Binance smart chain. It’s designed to bring a variety of experiences to its players. EBA is the native BEP20 token that’s used as the currency on the Elpis Battle platform.
As a blockchain-based game, Elpis Battle creates a real economy allowing players to earn via Battles, Mining, Staking, Renting, Training, and more.
According to its roadmap, the open beta release for Elpis Battle is scheduled for December 2021, followed by PVP modes and a mobile release in Q1 2022.
After getting listed on PancakeSwap on November 19th, EBA’s price increased from $0.3 to $0.6 within hours. Since then, the token has been trading sideways around the $0.40 level as traders eagerly await the open beta release of the game in December.
At the time of writing, EBA is trading at $0.38, down 27% in the past 24 hours. Elpis Battle’s fully diluted market cap is at $388 million, with a 24 hour trading volume of $7.1 million.
Conclusion
While a fully diluted market cap doesn’t represent a project’s true valuation, it’s still an impressive metric to achieve for token that has only been publicly traded on an exchange for less than 24 hours.
It seems that blockchain based NFT games are crypto’s favorite projects, as they receive the most hype. Assuming the teams deliver, all of the projects listed above have a great outlook for 2022.
Disclosure: This is not trading or investment advice. Always do your own research before buying any cryptocurrency.
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