Non-viable tokens and blockchain-based gaming projects have regained popularity in 2021. This is due to their widespread popularity, which has attracted the attention of both novice cryptographers and seasoned inventors. This trend has helped kick-start the massive adoption of blockchain technology and is likely to continue to spread in the long term after 2022.

A project that will take root in 2022 is Phantasma (SOUL), a blockchain protocol for one team that specializes in building SmartNFT and decentralized gaming applications. Prices reflect that they are about to skyrocket to historic highs.

Data from Cointelegraph Markets Pro and TradingView show that since hitting a low of $ 2.30 on December 30, SOUL has surged 61.73% to a daily high of $ 3.72 on January 3, with 24-hour trading volume above average. $ 3 to $ 12 million.

One-day SOUL / USDT chart. Source: TradingView
Three reasons for the high price of SOUL are the launch of several new protocols on the Phantasma network, the addition of cross-chain support for many networks, and the overall rise in popularity of NFT and blockchain-based games.

New projects launched on Phantasma
One of the biggest developments in the Phantasma ecosystem over the past two weeks has been the launch of several projects on the web. This includes the Blood Run card game, the Ghost Festival mobile game, and NFT Ghost Markets.

GhostMarket NFT Marketplace is currently offering its first decentralized exchange (IDO) offering on Flamingo Finance and its GM token will be available to operate on six different networks supported by GhostMarket but including Ethereum (ETH), Binance Smart Chain (BSC), Phantom , and avalanche, landfill and NEO N3.

One of the main features of using Phantasma on other chains is the dual token system, where SOUL token holders can place bets with their tokens to win Phantasma Power (KCAL). These, in turn, can be used to pay transaction fees. This essentially makes transactions free for SOUL holders.

Phantasma has also been certified as a carbon negative blockchain, which has helped garner positive attention. This sets it apart from other networks like Ethereum, which have a higher carbon footprint as they use mining.

Internetworking
Another reason Phantasma is becoming strong is the addition of interconnection with multiple blockchain networks including Ethereum, BSC, and NEO.

In addition to being able to interoperate with other networks, the Phantasma series itself is capable of achieving high levels of throughput. This is due to the ability to host an infinite number of side streams, while the network as a whole benefits from having a built-in oracle built right into the core of the design.

As interoperability becomes one of the main topics in the 2022 cryptocurrency ecosystem, projects that have already begun to focus on development are likely to outpace competitors that don’t. This will encourage crypto users to be more comfortable transacting across multiple networks.

RELATED: Samsung Announces NFT Platform for Smart TVs

NFT and popular game
The third reason Phantasma is gaining ground is the overall popularity of NFT games and projects as blockchain adoption grows.

Interest in NFT has been on the rise since early 2021 and peaked in mid-December, when Phantasma unveiled new designs and announced their low-cost features, according to Google Trends.

Interest in NFT research over time. Source: Google Trends.
In addition to the general rise in interest in NFT, popular blockchain games such as Axie Infinity have led to the emergence of monetization games in the crypto ecosystem. Phantasma’s high performance and low costs make it an attractive option for gamers looking to increase their income with the lowest transaction costs.

With interest in games and NFTs showing no signs of extinction in the near future, projects aimed at fostering their growth and adoption may continue to increase in value as NFTs become more prevalent.

Source: CoinTelegraph

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