Gaming NFT Marketplace Altcoin Surges More Than 35% in 24 Hours, Defying Crypto Market Doldrums

The native altcoin for a gaming-focused non-fungible token (NFT) market surged greater than 35% in a 24-hour interval this week, defying the general crypto market doldrums.

Promenade (PROM) payments itself as a “decentralized, confidential, and safe” ecosystem for exchanging and renting NFTs.

The venture’s native token, PROM, is up 36.3% in the previous 24 hours and is buying and selling at $7.65 at time of writing.

It’s not instantly clear what drove the token’s value surge. The asset’s beneficial properties did materialize just a few hours after Promenade advertised a brand new sport itemizing. The venture now helps Poglin, a fantasy-world, blockchain-based battling sport.

By comparability, the general crypto market cap elevated by solely 0.2% in the previous 24 hours and is down almost 5% in the previous week, in response to CoinGecko.

Final month, Promenade announced a strategic partnership with the web3 funding agency DWF Labs.

Defined the venture,

“A key aspect of our collaboration is the mutual exchange of expertise: leveraging Prom’s innovative approach in the gaming sector with DWF Labs’ strategic insights into digital assets. This synergy of knowledge and skills is poised to drive innovation and establish new standards in the Web3 gaming space.”

Regardless of its latest value beneficial properties, PROM stays almost 93% down from its all-time excessive of $106, which it hit in April 2021.

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