Challenged the Market with an Increase of 670%! Is This Metaverse Coin A Good Investment?

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Despite the crypto markets going through tough times, metaverse cryptocurrencies continue to outperform other cryptocurrencies. However, a metaverse coin has challenged the market with an impressive rise. We, as KoinFinans, analyzed what SCARI is and why it is on the rise.

What is SCARY (SCY)?

Released in December 2021 SCARY, Inside the Scary Doors Metaverse SCY It is a blockchain-based GameFi integrated platform that combines immersive NFT, Farm and Adventure missions to earn tokens.

The game revolves around a scenario where users selectively open Scary Doors to search for SCARY tokens behind the doors. The game also features a battlefield where monsters can challenge opponents to receive SCY tokens as rewards. Players can also build their empire using SCY tokens.

Source: scarygames.io

Overall, the game is similar to the popular Monsters Inc movie where monsters visit various gates. A random system displays three doors at a time for your monster to visit when you start the game, and players can choose a specific door to win different rewards.

Users must have at least 1000 SCY tokens in their wallets to continue playing the game without gas fees or taxes. DOORS/Doors in the game (doors in this game represent the same thing as plots in other metaverses) receive 10% of all rewards earned by monsters that visit them.

Scary Games has two different classes of monsters: Genesis monsters and Newborn (newborn) monsters. According to the statements made by the team, only 1000 unique Genesis monsters will be created, and Genesis monsters have unique skills and abilities that Newborn monsters cannot. Newborn monsters hatch from eggs and come to life.

Besides these, Scary Games has a fully functional NFT marketplace where users can purchase Scary Monsters. While some Monsters are quite expensive, most of them cost 0.2 BNB, or around $80 at the time of writing.

While the game itself is currently in development, the beta version is expected to arrive in Q1 2022, so it’s worth paying attention to.

Why Is The Price Of SCY Increasing?

A fairly new cryptocurrency Scary (SCY)After a Twitter post yesterday, it started a big rise and experienced a 500 percent increase. The cryptocurrency, which continues to rise today, reached $ 0.01788 with an increase of 670 percent compared to the last 24 hours.

Although the SCY token has increased impressively for 2 days, it is still far from the all-time high it reached 2 months ago. The metaverse coin is trading down over 80 percent from its ATH of 0.111.

SCARY recently introduced ScarySwa, a decentralized exchange by switching to a new contract address. Users on the platform will now be able to mine liquidity and earn passive rewards.

This switch, which took place yesterday, is thought to be most likely the cause of the 2-day price increase of SCY.

SCY has been a victim of the crypto bear market since its launch in December. Unfortunately, SCY has performed poorly since its inception due to the gradual decline in its price.

However, with the recent contract transition and fully functional NFT market, the bad days may now be a thing of the past for SCY. If the Metaverse coin has bottomed out during this bearish period, now would be a great time to accumulate.

Also, with a current market cap of under $50,000, SCY may be undervalued significantly given that it has a DEX and a fully functional NFT market.

Also, when we look at the distribution of SCY holders, we see that 93 percent of the supply is locked in PinkSale. The tokens are locked until February 28, which means that most of the token’s supply will be out of the market.

Source: PinkSale

With a market cap of under $50,000, SCY is currently undeniably underrated. The 24-hour trading volume is also quite low at $51,000.

Apart from the low trading volume, experts have not been able to find any red flags with this token, as the distribution of holders and being locked in PinkSale are showing positive signs.

Also, according to analysts, if the project’s team fulfills its promise to release the beta version of the game in the first quarter of 2022, there seems to be no reason why SCY should not increase to $1 million in market cap.

But it’s worth remembering that such low-value coins are highly volatile, and before investing significant amounts of money in any digital currency, it’s worth spending time researching the technology. It is a fact that cannot be ignored that a coin that experiences a very rapid price increase can fall at the same rate.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.


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