Following the historic crypto collapse that opened in June, many platforms are struggling to stabilize their cryptocurrency prices. And for leading platforms like Decentraland (MANA), there’s more pressure to up their game. As it would appear, the pressure is becoming more real by the day as HachiFi (HACH), a new NFT-based token, enters the cryptocurrency market.
MANA is the native token of Decentraland, a 3D virtual reality network that lets artists and creators monetize their content. It is regarded as the leading NFT-based platform in the cryptoverse, primarily due to its uses in metaverses and virtual worlds. The platform was designed for persons seeking a veritable medium or a source of entertainment. Aside from this, MANA facilitates transactions such as real estate acquisitions (LAND), governance and community voting on real estate issues, and earning rewards on the Decentraland platform.
This explains why Decentraland (MANA) is regarded as one of the leading crypto gaming projects leveraging DAO mechanisms for governance and community development, stimulated by MANA holders who govern the platform, types of content allowed in the metaverse, LAND auctions, and voting.
Decentraland metaverse hosts a series of events, all of which have helped onboard gaming enthusiasts seeking the best ways to maximize the opportunity locked in virtual reality platforms. As the MANA use cases expand to accomplish a broader demographic of investors, market analysts have forecasted MANA to trade at around $8 by the end of the following year. However, these forecasts may no longer hold following the crypto collapse and the consequent dip in cryptocurrency prices. According to the time of writing, MANA trades at $1.01 with a 24-hour trading volume of $368795542, up 5.8% in the last 24 hours.
HachiFi is a decentralized, next-generation, digital Layer-III platform designed to unlock the vast opportunities in the world of Decentralized Finance (DeFi). It features DeFI, NFT, and metaverse spaces users can leverage to earn passive income. From investing to earning a passive income, the HachiFi ecosystem offers users a chance to harness developing opportunities in cryptocurrency, prioritizing accessibility and safety.
The HACH token is coined from two words, ‘Hachi, a wordplay on the hatch, a Japanese word meaning ‘eight,’ and ‘DeFi,’ an acronym for the words “Decentralized Finance.” The token is designed to be an egg-opening Tamagotchi-based platform. A Tamagotchi is a Japanese electronic toy displaying the image of an animal that has to be looked after and taken care of by the ‘owner’ as if it were a real pet. In this case, the animal being taken care of represents the HachiFi NFT creatures.
Despite its meme-like name, HachiFi is not a meme coin. Rather, it is a Utility token to be characterized by a token swap platform, a wallet, a staking, and a rewarding system. The token will help advance the adoption of decentralized finance by empowering people worldwide to allow equal financial opportunities.
The HachiFi NFT Platform is a collection of 2,000 unique, farmyard-reared creatures, including ducks, pigs, cows, dogs, cats, and sheep. These NFTs are one-of-a-kind blockchain-based digital tokens that signify specific digital or physical goods or assets.
Again, as part of efforts to leverage how fast the cryptocurrency market is evolving, the HachiFi team has managed to combine the notions of yield farming and NFTs to create “NFT farming/breeding.”
Yield farming enables end-users to earn cryptocurrency (through liquidity providers, lending, borrowing, and staking) by putting coins or tokens in decentralized apps. Yield farming, put simply, is the process in which token holders use DeFi to maximize returns. That is, end-users borrow cryptocurrency on a DeFi platform and gain cryptocurrency in return for their services.
Currently, the HACH token supports the Binance Smart Chain (BSC). However, the HachiFi team intends to include other blockchain networks such as Ethereum, Solana, Fantom, Tezos, and Tron.
As the HachiFi team warms up for the presale period, you should get ready to tap into its upward cryptocurrency prices and buy as many as possible. The cost price of each HACH token will be announced at the commencement of the presale period.