Ultra (UOS) hits a new all-time high as blockchain gaming and NFTs boom

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Video video games and on-line gaming have grow to be among the largest industries on the planet over the previous thirty years as digital know-how and the web have interconnected folks from world wide and reworked us into a world society. 

Decentralization and blockchain know-how are gathering steam as a transformative new approach to function and construct an ecosystem, and Extremely (UOS) is one gaming-focused undertaking that has been gaining momentum in current months.

Extremely, a blockchain-based PC recreation distribution platform, is created for avid gamers and recreation builders and it permits customers to develop a number of income streams, together with the power to resell video games and in-game gadgets.

Builders for the undertaking have created a custom-made model of the EOSIO blockchain designed to supply free consumer account creation and better transaction throughput by way of higher useful resource allocation.

Information from Cointelegraph Markets and TradingView reveals that UOS surged 225% over the previous month as the value rallied from $0.132 on Feb. 1 to an all-time excessive of $0.42 on Feb. 22.

UOS/USDT 4-hour chart. Supply: TradingView

As seen on the chart above, UOS buying and selling quantity hit a document $31 million on Feb. 21 and Feb. 22 following its listing on Bithumb.

NFT reputation supplies a lift to Extremely

Non-fungible tokens are one of many fastest-growing tendencies in cryptocurrency presently and UOS has benefited from their development. The builders at Extremely have been centered on the know-how underlying NFTs as they’ll allow distinctive in-game gadgets to be resold in a number of marketplaces and ultimately on decentralized exchanges. 

Interoperability between blockchain platforms can also be a serious subject within the crypto ecosystem, and the crew at Extremely is growing and beta testing a brand new mainnet that may retain the power to function on Ethereum.

Whereas UOS is interoperable with the EOSIO blockchain, Extremely builders are additionally exploring NFT interoperability with a number of different blockchains together with The Sandbox (SAND) and Elrond (EGLD). The undertaking additionally has an evolving partnership withTheta that may allow reside streaming gameplay and cross-chain NFT transfers.

Other than its most important affiliation with the gaming big Ubisoft, current partnerships with globally acknowledged firms like semiconductor producer AMD and Atari have additionally helped propel UOS value increased in 2021.

Massive-name partnerships, cross-chain interoperability and the expansion of the NFT sector have Extremely well-positioned to profit from the bullish momentum within the cryptocurrency market.

The video games sector is anticipated to proceed its exponential development for the foreseeable future and as blockchain gaming turns into extra in style, UOS may benefit from having the first-mover benefit. 

The views and opinions expressed listed below are solely these of the writer and don’t essentially mirror the views of Cointelegraph.com. Each funding and buying and selling transfer entails threat, it is best to conduct your personal analysis when making a call.