On January 16, the performance of a relatively unknown altcoin is putting even established and booming assets like Solana and Bitcoin behind.
Rainicorn, a Proof-of-Stake NFT farming token, picked up over 100% of its value in the last 24 hours. RAINI went up from $0,012 to $0,024 in the time span of one day. To be exact the altcoin grew by 118% in that timeframe.
The most likely reason behind that steep growth is the fact that the team behind Rainicorn is working on a full revamp of the cryptocurrency.
As of today, the company behind Rainicorn changed its name to “Raini Studios”, and seems to be focusing primarily on the development of web3 gaming, building its own web3 gaming metaverse, which they named “Rainiverse”.
In addition, Raini Studios is behind the increasingly popular trading card game “The Lords of Light”, available on the Avalanche blockchain.
On Twitter, Raini Studios claimed that their goal is to develop “AAA-quality minigames with external points token systems,” while also leveraging gaming needs to be built by the company.
Is Rainicorn Trustworthy?
When it comes to altcoins, it is always a good idea to check out everything there is to know about the company behind it, before thinking of committing to an investment.
Fortunately, Rainicorn does not have many transparency issues. Their website contains a handful of detailed information about the token, the team behind it, contact forms, and social media pages.
Also, on Dextools, the token boasts a maximum score of 99 on the platform’s “DEXTscore”, a reliability measure that takes into consideration the cryptocurrency’s information, transaction history, and its holders.
What is the “Lords Of Light” Trading Card Game?
The TCG game is a play-to-earn Web3 game where users can collect and command armies, on theme with the game’s lore. By advancing in the game, players have the opportunity to earn $PHOTON, the in-game currency that can also be traded for fiat currency or other cryptos in the blockchain.
The State Of Play-To-Earn Games
Overall, the state of play-to-earn gaming is poor, to say the least. The nature of these types of games draws in a large audience, due to the financial opportunities that players can obtain by playing and buying the game’s token.
However, the vast majority of these types of games simply fail to provide a truly interactive and fun experience to their users. In fact, most of them resemble a lot more of a chore than an actual game.
For this reason, any time a new web3 gaming project with an actual team of developers focuses not only on the financial part of the game but also on proactively creating a fun experience for its users, the potentials for the growth of the company and the game in itself are immense.