The metaverse-focused Layer 1 blockchain Zilliqa’s native token ZIL once again rose sharply in price today, after new partnerships were announced and the progress in the roll-out of decentralized finance (DeFi) protocol was revealed.
At 12:04 UTC, the ZIL token was up by 19% for the day and close to 290% for the past 7 days, trading at a price of USD 0.1899, after reaching USD 0.21 earlier today. The gains made ZIL the day’s best performer among the top 100 cryptoassets by market capitalization.
Further, the recently strong performance for ZIL also means that the token has climbed rapidly higher in the market capitalization rankings. From ranking outside of the top 100 just one week ago, ZIL now ranks as the 56th most valuable cryptoasset, per CoinGecko’s ranking.
The gains come as Metapolis, a yet-to-be-launched virtual world built on Zilliqa, announced a new partnership with DeMons, a non-fungible token (NFT)-centered gaming experience in the metaverse.
According to the announcement from Metapolis, DeMons will build a new MMOG-oriented metaverse on Zilliqa, where “gamification of NFTs” will be a central part of the experience.
MMOG stands for ‘massively multiplayer online role-playing game’, a type of online game with large numbers of players playing together.
“In DeMons, players can get their hands on any number of over 666 exclusive, hand-drawn characters that can be levelled up in-game” the announcement said.
It added that players can buy DeMons NFTs via a dedicated sale on the DeMons website, or on the secondary market via various NFT marketplaces.
The new partnership today also comes after Metapolis on Monday said it had partnered with photo-sharing and awards app Agora, in addition to esports teams such as Sweden’s Ninjas in Pyjamas, Indonesian team RRQ, and Spain’s MAD Lions.
The ZIL token was already rallying at the time of that announcement, with the rally as of Thursday still going strong.
Metapolis is expected to be officially launched during an event in Miami, USA, on April 2.
DeFi protocol nearing launch
Meanwhile, Avely Finance, a staking protocol built on Zilliqa, said on Monday this week that its plan for DeFi development on the platform is moving forward with the launch of a website for the protocol.
“We are super excited to announce AvelyFinance website is live. It brings us one step closer to the launch of our liquid staking protocol built on zilliqa blockchain,” the team behind the protocol wrote on Twitter.
Source: Cryptonews
