Gods Unchained (GODS) token price has been on the rise since yesterday.
Yesterday, it registered a rise of over 26% propelling its price above $7.26 in the afternoon hours (GMT+3). It later pullback to about $6.61 by today 2 am before shooting up once again to a high of $7.37 at around 4 am.
At the time of writing, the GODS price had pullback to about $6.85 though still in the green.
But why is the GODS price rising? Why the bull-run even as the rest of the crypto market bleeds?
Here is a detailed outlook of the reason why the token is on the rise.
What is Gods Unchained?
Before delving into why Gods Unchained (GODS) token price is on the rise, it is important to first understand what it is.
In a nutshell, Gods Unchained is a free-to-play trading card game that uses blockchain technology and implements non-fungible tokens (NFTs). The game uses the play-to-earn model that allows users to sell their cards for real-world value.
Gods Unchained is the blockchain version of Hearthstone built on Ethereum, although it has more speculations like the necessary evolution of Blizzard’s flagship digital TCG and Hearthstone clone.
GODS is the native token of the Gods Unchained game and it is used as a utility token within the ecosystem.
Why is GODS Price Rising?
The last report about Gods Unchained was made last week and it caused GODS to spike by over 66% in a single day. At that time the news was about Coinbase supporting the GODS token.
The effect of the Coinbase news has however faded away and the current Bull Run is attributed to the recent news of Gods Unchained hosting an AMA on December 14th with SushiSwap. The AMA discussed the origin and history of Gods Unchained and mentioned some of the ongoing developments with the project.
One key point of Gods Unchained is the use of Immutable X, which was the first layer-2 for NFTs built on Ethereum. This feature offers zero gas fees, instant trades, and provides the required scalability for hosting mainstream DApps.
The other aspect that was brought to light was the team’s plans for the GODS token to be used in purchasing in-game cards and chests. Currently, players use Ethereum (ETH) and US dollar (USD) to purchase items in the Gods Unchained marketplace. Using the GODS token will result in a self-sustaining economy.
Since the issues discussed during the AMA are long-term, the effects of the AMA are expected to dictate GODS price movement for some time and the bullish trend could continue for quite some time.