UFO is the utility token based on the blockchain gaming platform UFO. This play-to-earn game (P2E) is set on the dark Metaverse. It hopes to integrate the fundamental features of traditional online multiplayer gaming with the power of the blockchain and give players the chance to earn assets in the form of cryptocurrencies and NFTs. Here are some of the features of the UFO utility token:
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As a utility token, UFO is used to make purchases and complete transactions within the UFO gaming universe
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The token is also used as the main currency to pay for earned rewards on the platform
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Holders of the UFO token also get voting rights on the platform’s DAO
Data Source: Trading View
UFO Token – Price Analysis and Prediction
At the time of writing this post, the UFO token was selling at around USD 0.00268. It was actually 7% down for the day. The price was however a bit higher than the support level of around USD 0.00256. But what is the upside here? Well, first it is important to note that UFO is not the best long-term token to hold.
Although we think the utility token will increase by at least 10% in a year or so, it is still prone to wild volatility. This is because the token still has a relatively low market cap, and as such, the price can be easily manipulated by whales. Nonetheless, our analysis sees the token hitting USD 0.00299 in the near term.
Should I Buy UFO Utility Token
Well, every person has their own risk appetite when it comes to investing in crypto. But gaming-related tokens are actually very promising right now.
As the shift towards blockchain gaming intensifies over the coming months, platforms like UFO and their native utility tokens will become quite valuable. And since the token is already selling at a reasonably low price, it could be worth your attention.