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Highlights
- The WOOL token's trading volume was up over 135% on Feb 24.
- It reached an all-time high of US$0.5405 in January 2022.
- The global crypto market tumbled over 6% on Thursday afternoon.
The play-to-earn cryptos are catching the attention of many young users lately. The buzzwords of these crypto games are becoming part of young people’s cultural lexicon.
Here comes another big entry, the Wolf Game Wool. This crypto game has been gaining strong traction of late. Its trading volume surged over 135% in the last 24 hours to Thursday afternoon.
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What is Wolf Game Wool?
Wolf Game is a new name in the crypto world. It combines the non-fungible token (NFT) mechanics and decentralized finance (DeFi) mechanism to deliver passive revenue to players.
Wolf Game is a unique tokenomics based on an NFT reward system. It is the interplay between the ERC-20 and ERC-721 protocols and the possible achievements. The project's founder remains anonymous, adding to its lure. The formal communication related to the game is done by someone known as "the Shepherd".
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Source: *Data provided by CoinMarketCap.com
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What makes it unique?
There are many play-to-earn or play-to-win games in the market, but the risk-rewards make the Wolf game unique from others. The players must be aware of certain risks and prepare themselves accordingly to acquire the rewards.
So, what's in the game? The game comprises Sheep, which accounts for 90% of the NFT collection, and Wolves. The sheep could be at stake in the "Barn" for earning WOOL tokens, which is the game’s utility and governance token and the platform's most precious resource. The players can harvest the token any time after paying a 20% tax to the wolf stakers.
The players can choose if they want all their tokens by unstaking their sheep. But there is a 50% chance that wolves could steal tokens and share among the wolf stakers.
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Pricing of WOOL token:
The WOOL token was priced at US$0.1017 at 1:15 pm ET on February 24, down 28.31%. Its fully-diluted market cap is US$508.72 million, while its volume rose 135.22% to US$502,952.
The WOOL token price tumbled 31.91% YTD. Its all-time high is US$0.5405, recorded on January 20, 2022.
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Bottomline
On Thursday afternoon, the global crypto market was down over 6% to US$1.62 trillion.
Investors, however, should carefully evaluate digital assets before considering an investment, given the high volatility in the crypto market.
