Why is metaverse-focused Meta Ruffy (MR) crypto rising?

Highlights:

• Meta Ruffy is a metaverse-focused crypto technology that combines web3, blockchain, virtual reality, and augmented reality.
• The token is currently available on exchanges like BitMart, XT.com, etc.
• It returned gains of over 171% since February 2022.

The metaverse-focused Meta Ruffy (MR) crypto saw strong traction in the cryptocurrency market on Wednesday. The MR token surged was up over 8%, while the trading volume rocketed 282% in the trailing 24 hours to Wednesday morning.

Also Read: Why is GMX crypto gaining attention? 

What is Meta Ruffy (MR) crypto and why it is rising?

Meta Ruffy is a metaverse-focused crypto technology that combines web3, blockchain, virtual reality (VR), and augmented reality (AR).

It aims to establish itself as a major brand in the metaverse-entertainment space. It is building its flagship open-world project, Ruffy World, to achieve that goal.

The Ruffy World has virtual spas, resorts, pubs, gaming venues, a stadium, and other zones for relaxation. It also has a non-fungible token (NFT) marketplace called Ruffy Mall, where users can buy or create a shop to sell their NFTs.

Also Read: Why is Polygon (MATIC) rising? Does it have a Robinhood connection?

The company claims to host concerts, comedy, and theater in its virtual stadiums, where tickets are sold through its booking agency. After building Ruffy World, it plans to organize a grand event where celebrities like Eminem, Billie Ellish, and Drake would be invited.

The MR token is the native utility token of the protocol. It is used to pay NFT creators, entertainment facilities, shop rentals, etc. Users can also use the token to land in the Meta Ruffy metaverse, a decentralized application (DApp).

Also Read: Why is Celer Network (CELR) crypto rising?

The token caught investors' radar after it was awarded the Most Innovative Company 2022 at the Dubai Crypto Expo in March 2022.

In addition, on April 3, the company said that it would select winners from its landowners who have the highest entries, which is the number of plots/lands they bought or owned. Each purchase is counted as one entry. They will get a chance to win a cash prize of US$50,000 or a Tesla vehicle. It also announced its plans to get listed on BigONE Exchange.

Also Read: Why is Sphere Finance (SPHERE) crypto gaining attention?

Data source: CoinMarketCap.com

Bottom line:

The MR token was priced at US$0.0001384 at 8:06 am ET on April 13, up 8.75%, while its volume for the trailing 24 hours skyrocketed 282.63% to US$8.98 million. Having a total and maximum supply of 100 billion, its fully diluted market cap is US$13.84 million.

It returned gains of 171.57% since February 7, 2022. The token is currently available on exchanges like BitMart, XT.com, PancakeSwap (V2), etc.

Also Read: Ampere Computing files for IPO, here's all you need to know

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 instruments 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.