Lately, the Hoo exchange has once again caught the community’s attention, particularly in the GameFi space, where multiple tokens have hit the market and high rallies have made Hoo a nugget place for more and more investors.

On October 15th, Hoo launched RadioCaca (RACA), a popular project on the GameFi track. RACA’s opening price on the Hoo Exchange was $ 0.0008. At 11:30 a.m. (UTC + 8) on November 11, the price was $ 0.00785, an increase of 981.25%.

On October 27, GameFi’s flagship project, MANA, rose from $ 0.724 to $ 4.668, a 644% increase in just three days. MANA is a decentralized token in the GameFi sector and was launched on Hoo on March 16.

On November 9th, Hoo HE and DMLG started in the GameFi area. HE opened at $ 0.183 and peaked at $ 0.4132, an increase of 225.79%. The opening price of DMLG was $ 0.205 and the highest price was $ 0.464, an increase of 226.34%.

On November 10, the price of AXS (Axie Infinity), a project at the top of the GameFi board, rose to $ 152, an increase of 2763%. AXS was launched on March 16 on Hoo. Axie is a metaverse concept blockchain game. It belongs to the NFT games sector and is the top project in the GameFi sector.

The Hoo GameFi section shows that other high-quality projects were started in advance. Hoo is committed to selecting high quality blockchain projects, and its ability to discover high quality projects has also made Hoo a leader in the new generation of exchanges.

GameFi refers to the presentation of financial products in the form of games. The name most widely interpreted by the market is now the collective name of the most popular blockchain games in the encryption circle. It combines decentralized funding (DeFi) and non-fungible tokens (NFT) with online games based on blockchain technology.

GameFi’s structure allows players to make money through the game and the opportunity to make money is at the heart of external advertising. While it doesn’t mean that definitely everyone will make money from it, this game model offers the player an opportunity to make money. In this model, players can sell their in-game items on the trading platform in the Crypto Market exchange for real money. Developers are inventing new ways to use cryptocurrencies to buy and trade in-game goods, cosmetics, character unlocks, and more. It can be said that GameFi is the ultimate combination of gaming and finance.

Blockchain games allow players to own their in-game items instead of the developer. This means that no server infrastructure is required, eliminating any possibility of hacking or cheating on games, which is why GameFi is so popular right now.

The person in charge of Hoo said that Hoo has its screening logic for projects in the Metaverse sector and they are paying more attention to whether the project can continue to add value to users. Take AXS as an example. The Axie Infinity game was invented and developed by Vietnamese people, and most of the current Axie Infinity users are concentrated in Southeast Asian countries such as the Philippines, Indonesia, and Vietnam. Since users in Southeast Asian countries spend a month playing this game and exchanging the token for the local currency, which is higher than the local average monthly income, it is popular in Southeast Asia. “The Hoo Exchange will continue to pay attention to the GameFi sector.”

According to the token terminal, Axie Infinity’s revenue on November 11 for the past 90 days was second only to Ethereum. The ranking achieved a breathtaking second place with total sales of $ 682.3 million.

(Picture from token terminal)

In response to this phenomenon, industry experts say that “Play to Earn” is still in its relatively early stages, but once a good project develops, its tokens will increase accordingly. Hoo is still the leader on this track at the moment. By tracking the new projects that Hoo has launched, investors can also benefit from following the industry’s hotspots in the first place.

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