ALICE, the native token of My Neighbor Alice, rose to a high of $40.93, after opening at $16.26 within the past 24 hours
The ALICE token saw a massive boost after it was listed on Binance on March 15.
With this rise, the market cap of the coin crossed the $1 billion threshold. There are currently 17 million ALICE coins in circulating supply. The total supply cap is 100 million tokens.
In-Game ALICE Purchases
My Neighbor Alice is a multiplayer building game. The game takes heavy inspiration from Nintendo’s Animal Crossing series. The game has players living in a virtual community where they trade and interact with other members, while also developing the community.
Players can use the ALICE coins to make purchases of in-game assets or special skill sets. Assets purchased within the game will take the form of non-fungible tokens (NFTs). This will enable players to ensure ownership of these assets, which they can then trade outside the platform as well.
The tokens will also enable players to participate in local governance. Players can vote on improvement proposals and platform developments. Players can also stake ALICE tokens, with which they can earn a percentage of platform revenues. These revenues can come from sales of virtual land plots, assets, or transaction fees. Completing quests within the game can also earn players ALICE tokens.
Crypto gaming platform Axie Infinity pioneered this concept of “Play-to-Earn”. Last month, one player paid 888.25 Ethereum (ETH), roughly $1.5 million at the time, for several plots of virtual land within the game. At that point, this had been the largest NFT transaction to take place. That record has been broken multiple times since.
SHO Me the Money
On March 15, Twitter user Charlie tweeted: “People who got a SHO allocation for $ALICE on @TheDaoMaker turned $500 into over $170k.”
To those unfamiliar with the concept, an SHO is a Strong Holder Offering. It is an innovative means of public fundraising. Those looking to raise funds can set certain criteria for potential investors.
These criteria usually ensure that the applicants are optimal for the project. Such criteria include a provable interest in relevant products in the past, a track record of participation in project events, or showcasing strong holding habits, ergo an offering for ‘strong holders.’