Why is HyperVerse (HVT) crypto gaining attention?

Highlights

• HyperVerse has launched a new membership drive called HyperVerse Membership 2.0, under which users will get a 5% direct reward by referring others to join the platform.
• The membership drive will last from March 11 to March 26, 2022.
• HyperVerse offerings include space expedition, tokenized items, decentralized capital, galaxy Pioneer, and V-Dao.

The HyperVerse token is making news again. On Friday, the metaverse-focused token announced the launch of a new membership drive dubbed HyperVerse Membership 2.0, offering users a 5% direct reward for referrals to join the platform.

HyperVerse said it would reward users if anyone joined the platform from their referrals during its March 11-26 promotional drive. 

Following the announcement of its partnership with Genaro Network (GNX) on February 22, HyperVerse (HVT) has been launching a series of online public events.

HyperVerse (HVT) is collaborating with Genaro Network (GNX) on a metaverse project. The HVT token has been trending on the Internet over the last few days following these developments. 

Also Read: Why is NFT game Alien Worlds’ (TLM) offer catching attention?

What is HyperVerse?

HyperVerse has millions of planets in its metaverse, where players can socialize, experience different cultures, play to earn, start a business, create NFTs, etc.

Its offerings include a virtual experience, space expedition, tokenized items, decentralized capital, galaxy pioneer, and V-Dao. 

VerseDAO or V-Dao is the decentralized autonomous organization of HyperVerse. 

The decentralized capital features HyperVerse DeFi, a smart money management platform launched on February 26. It aims to remove the complexity in the cryptosystem and gives users access to a simple crypto-asset management system. The company seeks to provide a simple-to-operate platform with low barriers to entry and the opportunity to earn stable rewards. 

Also Read: Why is Immutable X (IMX) crypto rising?

The company claims to build a DeFi system as accessible as the traditional savings accounts to earn tokens. 

In its DeFi platform, users only need to deposit funds, choose a reward plan, and wait for the rewards to be credited. HyperVerse said in a blog post that it is committed to creating a decentralized ecosystem governed by its users and not by any centralized authority.

The company said its first-quarter roadmap is to upgrade the website and complete the HyperVerse smart contract infrastructure, space stations, and GameFi functions.

 Also Read: Why is sUSD (SUSD) gaining attention?

Data Source: coinmarketcap.com

Also Read: Is Dovu (DOV) crypto migrating to HTS after US$100 mln boost?

How does the HyperVerse (HVT) token work?
The HyperVerse (HVT) token is a multifunctional governance token based on the BNB Smart Chain (BEP-20). It is used for community governance, trading, mining, creating NFTs, depositing, upgrading, and space expeditions.

HyperVerse (HVT) token was trading down by 6.80% to US$1.71 at 9:13 am ET on Friday.  

HVT has a current market capitalization of US$31.03 million. Its volume soared 17.80% to US$239,494 in the last 24 hours to Friday morning. The token has a self-reported circulating supply of 18 million HVT and a total supply of 10 billion HVTs.

The token is currently available for purchase on PancakeSwap (V2).

Also Read: Why is Elrond (EGLD) crypto gaining attention?

Bottomline

According to its whitepaper, HyperVerse (HVT) mines all its tokens through the “contribute to earn” method, the only mining system open to the community. Users can earn more mining rewards by contributing more. When the traditional markets are buckling under geopolitical and economic pressure, the crypto market is abuzz with new entrants and products. However, the crypto market is also not free from risks, including volatility. Hence, investors should exercise due diligence before investing in digital assets.

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.