The metaverse coin in question has experienced an impressive surge of over 669% today, reaching a trading value of $0.01809 at the time of writing
Despite the challenges faced by the broader cryptocurrency markets, metaverse coins are showcasing remarkable resilience and outperforming other digital assets. In this article, we at Metaverseplanet.net are closely examining a metaverse coin that has achieved nearly a 700% gain today: SCARY (SCY).
“What is SCARY (SCY)?” This question will be the focal point of our article as we delve into the specifics of this metaverse coin and explore the factors contributing to its substantial price increase. Stay tuned for a detailed analysis of SCARY (SCY) and its noteworthy performance in the current crypto market landscape.
What is SCARY (SCY)?
Launched in December 2021, SCARY is a blockchain-based GameFi-integrated platform that seamlessly combines immersive elements such as NFTs, Farming, and Adventure missions to allow users to earn SCY tokens within the Scary Doors Metaverse. The gameplay centers around users selecting a Scary Door to embark on a hunt for SCARY tokens. Additionally, players have the opportunity to use SCY tokens to construct their virtual empire within the game.
The concept of the game draws inspiration from the popular Monsters Inc. movie, where monsters explore different gates. In SCARY, a random system presents three doors at a time, giving players the chance to send their monsters through a chosen door to potentially win SCARY tokens and other prizes. This dynamic and engaging gameplay creates a unique and entertaining experience for participants in the Scary Doors Metaverse.
To continue playing the Scary Games without incurring gas fees or taxes, users are required to hold a minimum of 1000 SCY tokens in their wallets. The game introduces two distinct classes of monsters: Genesis monsters and Newborn monsters, with only 1000 unique Genesis monsters planned for creation. A fully functional NFT marketplace associated with Scary Games allows users to purchase Scary Monsters. As of now, the game is in development, with the beta version expected to be released in Q1 2022.
The recent surge in the SCY price can be attributed to the migration to a new contract address, promoting its decentralized exchange, ScarySwa. Users now have the opportunity to mine liquidity on the platform, earning passive rewards. This migration likely plays a key role in the significant price increase observed today.
Since its launch in December, SCY has experienced fluctuations in its price due to the broader crypto market conditions. Despite facing challenges and underperforming at times, the recent developments, including the launch of ScarySwa and a fully functional NFT market, contribute positively to the project’s potential.
While SCY’s market cap is currently at $46,000, a relatively modest figure considering its decentralized exchange and NFT market, the distribution of SCY holders appears sound. Notably, 93% of the token supply is locked in PinkSale, providing a positive indication. Although there are low trading volumes, there don’t seem to be significant red flags with the token, and the distribution of holders and PinkSale lock seem favorable.
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