- The increasing popularity of NEFT gaming and new project launches are the cause of the drive behind SOUL, and the prices are yet set to go higher.
- According to the information by Cointelegraph Market Pro, the price of SOUL hit the ground measuring $2.30 as measured on December 30th.
- Now the traders might have a question as to why they should lay their eyes on the Phantasma. Here are three reasons mentioned in detail.
The increasing popularity of NEFT gaming and new project launches are the cause of the drive behind SOUL, and the prices are yet set to go higher.
In the entire year of 2021, blockchain-based giving projects have been able to get much popularity. It has attracted the attention of crypto novices and people who are thoroughly experienced. This is a massive trend that helps in the adoption of blockchain technology, and this trend will be prevalent throughout 2022 as well.
One of the most amazing projects that have been making quite a fantastic move in 2022 is Phantasma, also called SOUL, and it focuses mainly on SmartNFTs and decentralized gaming applications. It is a single-layer blockchain system that will get a lot of hype and have an all-time high price.
According to the information by Cointelegraph Market Pro, the price of SOUL hit the ground measuring $2.30 as measured on December 30th. But now, it has reached up by 61.73%, with a price range of $3.72 as measured on January 3rd. The trading volume has increased from 3 million dollars to 12 million dollars on average within hours. Now the traders might have a question as to why they should lay their eyes on the Phantasma. Here are three reasons mentioned in detail.
New Project Launches May Be The Reason
Phantasma has developed itself in a ginormous manner because of its innovative ecosystem, which launched numerous projects on the network. For example, it has brought forward role-playing games like Blood Rune and Ghost Festival- not to forget the NFT Marketplace Ghostmarkets.
The GhostMarket NFT marketplace is currently conducting its initial decentralized exchange offering (IDO) on Flamingo Finance, and its GM token will be available for use on the six GhostMarket supported networks, which include Ethereum (ETH), Binance Smart Chain (BSC), Phantasma, Avalanche, Polygon, and NEO N3.
One of the biggest advantages of Phantasma over other networks is its dual token system, which allows SOUL token holders to stake their tokens in exchange for Phantasma Energy (KCAL). These can then be used to cover transaction costs. This essentially makes transactions free for SOUL holders.
Phantasma is also a registered Carbon negative blockchain that has been able to gain positive attraction. This is what makes it unique compared to other networks like Ethereum because ETH has a very high carbon footprint.
Cross Chain Interoperation Facility
This is the second reason why Phantasma has been gaining strength since the last phase of 2021. It induces interoperability with numerous blockchain networks like BSC, Ethereum, and NEO. Apart from the addition of other reputed networks, Phantasma is highly capable of reaching high-end levels. It can put up indefinite amounts of side chains, and the network can have advantages from the core of the design.
Interoperability is expected to be one of the primary themes in the bitcoin ecosystem in 2022. Thus projects which have already started focusing on it are likely to beat those that haven’t. Crypto users will be encouraged to become more comfortable transacting across numerous networks due to this.
NFT And Gaming Has Become Popular
Last but not least, Phantasma has been able to gain a lot of strength because NFT gaming has gained a lot of popularity in the last few years. In the data presented by Google Trends, NFTs have been on the rise since Jan of 2021 and hit their culmination point in mid-December. This has happened since Phantasma was inducing newer projects with low cost and high potential.
With the popularity of gaming and NFTs showing no signs of waning in the foreseeable future, projects aimed at enabling their growth and adoption may see their worth climb as NFTs become more mainstream.