The native altcoin for the gaming-focused non-fungible token (NFT) market surged more than 35% in 24 hours this week, defying the slump in the overall cryptocurrency market.
PROM describes itself as a “decentralized, confidential, and secure” ecosystem for exchanging and leasing NFTs.
The project’s native token, PROM, is up 36.3% in the last 24 hours and is trading at $7.65 at the time of this writing.
It was not immediately clear what caused the token price surge. The gains on the asset were realized a few hours after the Prom. advertised New games list. The project now supports Poglin, a blockchain-based fighting game set in a fantasy world.
Dance Party New Game Notification: @Poglin_Official ??
Discover a world where knowledge, animation, and games merge. Uncover the mysteries of the Haven tribe and prepare for stories of prophecy and power.
Immerse yourself in a new multimedia adventure!
Explore the world of Foglins. https://t.co/EXFkXsMD7Y pic.twitter.com/tZ2L5tbSHt
— From (@prom_io) January 24, 2024
By comparison, the overall cryptocurrency market cap increased just 0.2% in the past 24 hours and fell nearly 5% over the past week, according to CoinGecko.
Last month, Prom announced a strategic partnership with web3 investment firm DWF Labs.
explained the project,
“A key aspect of our collaboration is the mutual exchange of expertise. It leverages Prom’s innovative approach in gaming and DWF Labs’ strategic insight into digital assets. This synergy of knowledge and technology is poised to drive innovation and establish new standards in the Web3 gaming space.”
Despite recent price gains, PROM remains nearly 93% below its all-time high of $106 hit in April 2021.
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