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Power Protocol, a crypto project building at the centre of Web3 gaming, has emerged among the top gainers in the crypto market today. According to on-chain data from CoinGecko, the project’s native token, POWER, saw a 33% price pump. Its value at the time of writing was $0.34.
The price pump came after the non-fungible token (NFT) marketplace OpenSea announced the incorporation of the POWER token into its ecosystem. The cryptocurrency also surged due to its new role in a popular game, dubbed Fableborne.
In June 2024, Power Protocol disclosed that it had partnered with Pixion Games, the game developer behind the popular action role-playing game (ARPG) Fableborne.
Following the partnership, the POWER token has played its role in enhancing the Fableborne gameplay. The cryptocurrency is natively launched on the Ethereum network. It serves functions like purchasing in-game items and upgrades. The token will also be incorporated into future titles that Pixion Games unveils.
Earlier this month, Fableborne Season 4 launched. This paved the way for players to participate in a gaming experience that allows them to earn from a prize pool of 1.66 million POWER tokens.
Gamers must belong to an existing guild or create one within the Fableborne ecosystem to have a share of the prize pool. Each guild can have up to 50 players. Being in a guild prepares gamers for the Guild War. The Guild gameplay began on December 8th and will end on December 24th.
Kam Punia, the founder of Pixion Games, revealed days ago the Fableborne flywheel, a mechanism that allows users to earn NFTs from their gameplay experience. These NFTs can be sold on the Ronin marketplace. Users can also use proceeds from the flywheel to participate in premium events where they can win POWER tokens.
Comments from Fableborne gamers show that they are heavily interested in accumulating POWER tokens to upscale their gaming experience.
In its announcement, OpenSea explained that the POWER token has been plugged into its ecosystem. This means that POWER token holders can now purchase NFTs on OpenSea without needing to convert to a separate token first.
Aside from OpenSea, other crypto projects have integrated Power Protocol’s flagship token into their ecosystems since its debut earlier this month. For instance, crypto exchanges like Binance, Bitget, MEXC, Gate, LBank, and BingX have listed the cryptocurrency in either their spot or futures markets.
Some of these exchanges also opened the doors for users to participate in marketing campaigns that enabled them to earn portions of the POWER token. While at it, Power Protocol has continuously partnered with various firms to grow its ecosystem.
These moves have fueled POWER’s growth to its current market stats. At the time of writing, its market capitalization sat at $71.3 million while its 24-hour traded volume was over $26.59 million.
Interestingly, POWER saw its peak value of $0.3658 earlier today. Although it is currently down over 8% from its all-time high (ATH), its value remains significantly high enough to rank among the top gainers for the day.
The post Here’s Why Power Protocol (POWER) is Up 33% Today appeared first on CoinTab News.
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