The price of the Gods Unchained (GODS) token has been on the rise since yesterday.
Yesterday, it recorded a rise of more than 26% propelling its price above $ 7.26 in the afternoon (GMT + 3). It then returned to around $ 6.61 today at 2 a.m. before climbing again to a high of $ 7.37 around 4 a.m.
As of this writing, the price of GODS has retreated to around $ 6.85, although it is still in the green.
But why is the price of GOD increasing? Why the bullish race even as the rest of the crypto market is bleeding?
Here is a detailed look at why the token is on the rise.
What is Gods Unchained?
Before exploring why the price of Gods Unchained (GODS) tokens is on the rise, it’s important to first understand what it is.
In a nutshell, Gods Unchained is a free collectible card game that uses blockchain technology and implements non-fungible tokens (NFTs). The game uses the to win game model which allows users to sell their cards for real value.
Gods Unchained is the blockchain version of Hearthstone built on Ethereum, although it has more speculation as the necessary evolution of Blizzard’s flagship digital TCG and the Hearthstone clone.
GODS is the native token of the Gods Unchained game and is used as a utility token within the ecosystem.
Why is GOD’s price increasing?
The last Gods Unchained report was done last week and it sent GODS up over 66% in a single day. At that time, the news was about Coinbase supporting the GODS token.
The effect of the Coinbase news has waned, however, and the current Bull Run is attributed to the recent news of Gods Unchained hosting an AMA on December 14 with SushiSwap. WADA discussed the origin and history of Gods Unchained and mentioned some of the ongoing developments with the project.
A key point of Gods Unchained is the use of Immutable X, which was the first Layer 2 for NFTs built on Ethereum. This feature offers no gas fees, instant transactions, and provides the scalability required for hosting consumer DApps.
The other aspect that came to light was the team’s plans for the GODS token to be used to purchase in-game cards and chests. Currently, players use Ethereum (ETH) and the US dollar (USD ) to purchase items from the Gods Unchained Marketplace. The use of the GODS token will result in an autonomous economy.
Since the issues discussed in the AMA are long term, the effects of the AMA should dictate the movement of GODS prices for some time and the uptrend may continue for some time.
