- Aurory was among the performing metaverse tokens in the last seven days after advancing by nearly 55%.
- Origin Protocol’s ecosystem token also spiked nearly 95% earlier in the week.
- Overall, the metaverse and NFTs and Collectibles tokens closed lower than they opened the week.
In this edition of the weekly token boom report, the metaverse NFTs and collectibles tokens fell for the second consecutive week. However, the industry overall received a major boost with more venture funding flowing in.
Binance launched a $500 million fund to invest in blockchain gaming and Web3 related products, hot o the heels of Andreessen Horowitz’s gigantic bet of $4.5 billion last month.
Elsewhere, OKX Blockdream invested more than $10 million in WAX Blockchain’s blockchain gaming and NFT push, while Fabric Ventures launched a $140 million growth fund.
Over the last seven days, metaverse tokens extended the previous week’s declines falling to a total market cap of $13.22 billion, down from $14.3 billion. However, there were some positives to pick out from a general industry perspective after investors continued to poor financing in gaming-related ventures.
While Binance dominated headlines with its $500 million fundraising to invest in Web3 startups across all stages, Kryptomon raised $10 million in a private round to build its blockchain game, while US Web3 startup acquired Jordanian Streetwear fashion brand Jobedu to expand its metaverse product offering.
From a trading perspective, Aurory, Lukso and Dotmoovs made significant headlines during the week, after posting decent gains.
Aurory token (AURY/USD)
The $AURY is the native token of the Japanese role-playing game Aurory built on Solana. The game is set in a retro-futuristic universe where players get to choose different game modes.
The battling game converts losers of various competitions to be converted into NFTs, which can be earned by their winning counterparts.
The $AURY token rallied more than 54% between May 30 and June 1, before pulling back for the following two days. It recovered at the end of the week.
Technically, traders could target potential upward profits at about $2.53, or higher at $2.63. On the other hand, if the pullback continues, the $AURY token could find support at about $2.30, or lower at $2.16.
LUKSO token (LYXE/USDT)
LUKSO is a metaverse world featuring several virtual experiences including blockchain gaming, social media, fashion and design. Its smart contract blockchain is created to onboard masses to Web3.
The platform also acts as an infrastructure for building decentralised applications. Its ecosystem token LYXE is used to facilitate transactions between different products in its universe.
The $LYXE token gained more than 24% between Monday and Friday last week. It pulled back slightly before extending gains into the weekend.
Technically, traders could target potential rebound profits at about $5.16, or higher at $5.37, following Monday’s pullback. On the other hand, $4.83 and $4.65 are crucial support levels.
Dotmoovs token (MOOV/USDT)
Dotmoovs is a leading peer-to-peer sports competition platform that allows users to upload short videos of sports tricks. The platform utilises a unique algorithm allowing users to monetise their skills for $MOOV token.
The platform is also creating an NFT collection of the users’ favourite athletes, expanding the ecosystem engagement.
The $MOOV token spiked nearly 48% on Monday and Tuesday last week before pulling back for the following three days. However, it spiked again over the weekend before falling sharply on Monday.
Technically, traders could target potential rebound profits at about $0.020, or higher at $0.023. On the other hand, $0.015 and $0.014 are crucial support levels.
NFTs and Collectibles tokens
In the past seven days, NFTs and collectibles tokens fell to a market cap of $22.1 billion down from $24.4 billion in the previous week.
However, there were still some positives to pick for avid traders with some tokens posting significant gains during the week.
Origin Protocol, Syscoin and COVAL, all presented exciting opportunities for short-term traders.
Origin Protocol (OGN/USD)
Origin Protocol is a blockchain infrastructure platform focusing on decentralised finance and non-fungible tokens. The platform wants to onboard masses to the blockchain by enabling credit card payments and mobile wallets in addition to crypto-native options.
The ecosystem token of Origin Protocol is $OGN and is used to facilitate transactions within the platform.
The $OGN token spiked more than 94% on Monday and Tuesday last week before easing gains for the remainder of the week.
Therefore, traders will be targeting potential rebound profits at about $0.27, or higher at $0.29. On the other hand, if the pullback continues, the $OGN token could fund support at about $0.22 or lower at $0.19.
Syscoin token (SYS/USD)
Syscoin is a smart contract platform that leverages the security protocols of a layer 1 blockchain and the scalability of a Layer 2 solution to facilitate transitions at ultra-low fees and fast speeds.
Syscoin is developed with the future of smart contracts in mind, including use-cases in the metaverse, smart cities, and IoT, among others.
Its ecosystem token $SYS is used to facilitate transactions and for governance voting.
The token price rallied more than 33% between Monday and Thursday before pulling back slightly over the weekend.
Technically, traders could target potential rebound profits at about $0.23, or higher at $0.25. On the other hand, $0.21 and $0.19 are crucial support levels.
Circuits of Value token (COVAL/USD)
Circuits of Value is a blockchain platform behind the Emblem of Vault token, which allows users to put their entire crypto wallet in a single token. Emblem of Vault lets users band multiple token types including NFTs together by storing them in a unique Emblem Vault.
The ecosystem token of Emblem Vault is $COVAL, which can be used to buy fuel within the platform and for rewards.
The $COVAL token price experienced choppy trading sessions between Tuesday and Saturday, eventually registering a gain of more than 31%.
However, after pulling back on Monday, traders could target potential rebound profits at about $0.016, or higher at $0.017. On the other hand, $0.0155 and $0.0150 are crucial support zones.
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