Although the crypto market is going through a tough time, some coins continue to challenge this downtrend. The most valuable Metaverse cryptocurrency today Monavale (MONA) became one of these coins. We, as KoinFinans, examined Monavale, which gained over 54 percent in the last 24 hours, and tried to understand why the price has risen so much today.
What is Monavale (MONA)?
Released in December 2020, Monavale (MONA) presents itself as CC0 (Creative Commons*) an effective Web3 It describes it as fashion and open Metaverse. The platform includes a fully decentralized, self-governing, forkable Metaverse protocol stack.
Monavale (MONA) is the primary token of the DIGITALAX platform and ecosystem. In addition, Digitalax has a diverse marketplace, including physical fashion, digital fashion and Metaverse boutique designs.
Fashion NFTs include DeFi staking functionality, a 3D source file, and a unique partial clothing ownership (FGO) system. Under the 998 variation standard, every 721 NFT has a balance of 1155 NFTs. This makes NFTs interoperable in the Metaverse.
The DIGITALAX community includes developers, modders, designers, gamers, etc. consists of crypto enthusiasts. The team maintains a regular program of active communication and is easily accessible through various social networks. The basic principle of the Community is decentralization. The official technical review contains the following sentence on the subject:
“The team received a 0% allocation of all tokens launched through the ecosystem to ensure the highest integrity.”
Users wishing to earn rewards as MONA tokens can browse the DIGITALAX staking board, which they can connect to via a Web3 wallet such as MetaMask. This way, MONA and W3F token holders can stake these tokens for substantial rewards while awaiting the next crypto bull run.
DIGITALAX is one of the best independent NFT fashion platforms. If you want to support independent artists and are a supporter of the COO movement, Monavale is a must watch platform for April 2022 and beyond.
Why is the price of the coin rising?
One of the possible reasons for this 50 percent price increase in the Metaverse cryptocurrency; There may be a blog post published today, April 12, announcing the platform’s CC0 DAO Membership NFTs. Users can join the CC0 DAO by purchasing a membership NFT from the DIGITALAX Patrons platform or by contributing to the DAO through the CC0 NFT auction or other sales events. The platform announced this development on YouTube with this video:
The team also recently published a FUD FAQ on April 11th where they examine the future of the Web3, NFT market and some current developments in the industry.
In addition, on March 31, DIGITALAX released its March transparency report highlighting the extremely low project expenses when it comes to managing and developing a DAO.
After all these developments, MONA price It reached the level of 477 dollars with an increase of 52.36% in the last 24 hours.
Given the fact that the DIGITALAX project has a full NFT market, a staking board, DAO management, and some excellent independent art, MONA’s current $4.6 million market cap is still significantly low for a metaverse coin.
MONA is currently available on Uniswap (V2) and Bancor Network platforms.
*Creative Commons (CC), is an internationally operating, non-profit organization that provides free licenses for content creators to use their work while making it public.
You can check the price movements here.
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.