Why is MMORPG Outer Ring (GQ) crypto gaining attention?

Image Source: © Iuriimotov | Megapixl.com

Highlights

  • Outer Ring project was launched three years ago as a “Massively Multiplayer Online Role-Playing Game” or “MMORPG”.  
  • It is based on a novel by the same name by Martin Wilsey. 
  • On Monday, the GQ token got listed on Gate.io, a digital asset trading platform.

The Outer Ring MMO (GQ) crypto was trending on Monday after being listed on the digital asset trading platform Gate.io. However, as opposed to Monday’s positive rally in the crypto market, the GQ token was trading 11.29% lower to US$0.00761 at 12:01 pm ET.

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What is the Outer Ring project?

Outer Ring project started three years ago as a “Massively Multiplayer Online Role-Playing Game” or “MMORPG”. It had also launched its tokenized assets. Last year, it launched a videogame called “Outer Ring Saga” based on a novel by Martin Wilsey. 

It is a fantasy cum science-fiction game in the Outer Ring universe. Players can interact, socialize, play, create and build things in a free-to-play mode in the universe. 

Every asset in the game is tokenized, meaning it could be transferred to the real world using its native tokens. The platform ascertains the ownership of the game items ranging from skins, guns, and ships to various other collectibles through NFT technology, says its whitepaper. 

Developed by Windex Technologies OÜ and Nexxyo Labs using the ManiacPanda Games brand of Windex, the platform allows players to choose different roles and play dynamics in various spaces, including planets, stars, spaceships, cities, lands, dungeons, etc. 

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It offers different experiences for players. While some players can enjoy the PVP shooter experience in the battle arenas and spacecraft war, others may craft items and buildings inside the game and collect materials. 

Outer Ring aims to be the game of the year in 2022. According to the project's roadmap, in June 2022, it plans to launch Lootbox, and in Q3 2022, it plans to launch an NFT marketplace, merchandise and governance system and complete the DEX listing process. The project aims to use all in-game items and resources as an NFT, which users could buy, collect, trade, etc. 

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Data Source: coinmarketcap.com

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GQ token:

The whitepaper says that Outer Ring has two native tokens, Exocredits (EXO) and Galactic Quadrants (GQ). It plans to use Exocredits (EXO) as in-game currency and Galactic Quadrants (GQ) as the governance token. More governance tokens would confer more power to the holders in creating in-game policies and other related decisions. 

The GQ token has a current market capitalization of US$7,97 million. Its 24-hour trading volume rose 9.22%; however, the price fell. 

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Its self-reported circulating supply is 1.05 billion GQs, while the maximum supply is 10 billion, and the total supply is 1.16 billion. Besides its recent listing on Gate.io, the token can be traded on Huobi Global, PancakeSwap (V2), Hotbit, and Bitrue crypto exchanges. 

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Bottom line:

The gaming segment of the crypto market rose to US$14.27 billion at 1:26 pm ET on Monday, with the top three performers as Apecoin (APE), Decentraland (MANA), and Sandbox (SAND). 

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