Metaverse Token GMM is the native asset of Gamium, a project that tags itself as the centre of the Metaverse (the next iteration of the internet where people can learn, collaborate, socialize, and play through augmented and virtual reality).
The cryptocurrency spiked more than 1,300% during February due to positive market sentiment and partnerships with social media company Meta Platforms Inc. (owners of Facebook, WhatsApp, Instagram, Messenger, Quest, Horizon Worlds, Workplace, and Mapillary) and telecommunications firm Telefonica.
On Feb. 27, CoinDesk reported that Gamium will work with Telefonica and Meta Platforms Inc. on the Metaverse Activation Program.
Launched by Meta and Wayra in 2022, this programme will continue to empower and scale startups operating in the Web3 and metaverse industry.
A project like Gamium which aims to provide humans with a digital entity will explore developmental business opportunities with Telefonica and Meta.
In the cryptocurrency industry, there are primarily three drivers of a coin or token’s price, and they are staking, adoption, and listing by a major exchange.
The adoption of Gamium’s project into the Metaverse Activation Program by two mainstream companies reflected positively in the price patterns of the cryptocurrency.
GMM spiked by approximately 1,360% throughout February after opening and closing the month with trading prices of $0.0003859 and $0.002903 respectively. Within the period, GMM trading volume moved from a daily low of $261,447 and ascended to a daily high of around $80 million.
GMM market capitalization has increased seven (7) – fold
GMM commanded a market value of around $4.7 million on the opening day of February. By the close of the crypto market on Feb. 28, GMM’s market capitalization had soared to about $34 million.
This has taken the token from being ranked below the top 1,000 digital assets by market capitalization to obtaining a spot in the top 600 cryptocurrencies by market value.
Aside from that, GMM has broken into the top 50 metaverse tokens by capitalization. While the token trails popular assets such as ApeCoin (APE), Internet Computer (ICP), Stacks (STX), Decentraland (MANA), Theta Network (THETA), Axie Infinity (AXS), The Sandbox (SAND), Zilliqa (ZIL), and Enjin Coin (ENJ), it commands relatively higher market values than DeepBrain Chain (DBC), Boson Protocol (BOSON), Phantasma (SOUL), Decentral Games (DG), Aurory (AURY), and Monavale (MONA).
GMM playing an integral role in the rise of metaverse tokens
While cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Flow (FLOW) have rebounded strongly in 2023, their gains cannot be compared to the multiple percentage returns by metaverse tokens.
In an updated report by Research and Markets in January 2023, the global metaverse market was forecasted to generate an expected revenue of $700 billion by 2030.
In addition to Epic Games, Inc., Dapper Labs, Roblox Corporation, Tencent Holdings Ltd., Microsoft, and NVIDIA Corporation, Meta Platforms Inc., a current partner of Gamium was named among the companies that will help the sector reach such milestones.
Since the announcement of the partnership triggered a price spike, more metaverse partnerships and developments by Meta and Telefonica could take GMM past its all-time high and bring more gains to holders.
For traders interested in adding the token to their portfolio, GMM can be found on eight exchanges, and they are Bilaxy, Hotbit, MEXC Global, BKEX, BitMart, PancakeSwap Vault (V) 2, Kucoin, and Gate.io.
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