HOOK Crypto

Rise of HOOK Crypto Following Binance launch

HOOK Crypto
Rise of HOOK Crypto Following Binance launch

The Rise of HOOK Crypto

The new cryptocurrency Hooked Protocol (HOOK Crypto) has begun its token sale on the Binance Launchpad (HOOK).

The initial price was around $0.1, but it has since risen to more than $2.8.

To put it another way, its value increased by +2,700% almost instantly.

Even though the price dropped all the way to $2 during the day, it rebounded during the night, suggesting that the launch price was significantly low.

It peaked this morning at over $2.9.

The HOOK crypto on Binance: Hooked Protocol

In development is the Web3 platform Hooked Protocol, a gamified social learning environment.

Its token, HOOK, is a BEP-20 token operating on the BNB Chain.

Hooked Gold Token (HGT) is another token on the platform, but it can only be used within the ecosystem.

Hooked Protocol’s current focus is on developing the ramp layer for widespread adoption of Web3, which includes Learn & Earn products and onboarding infrastructure for users and businesses.

Its pilot product is Wild Cash, which is a Quiz-to-Earn with gamified learning features that has already reached over 2 million monthly active users in Indonesia and Brazil.

When talking about the entire ecosystem, HOOK Crypto is the token used for governance, while HGT is the token used for practical purposes.

For access to special events and limited-release NFTs, as well as in-game items like special chests and other perks, HOOK is used as a token.

It will be burned over time to reduce the total supply, and then used as fuel for the rollup infrastructure of the app and the staking of rewards on the platform.

There will be a total of 500,000,000 tokens in circulation, with only 50% (50,000,000) available at the token sale.

The Hooked (HOOK) Project

About $6 million was raised earlier this year through two rounds of private token sales for Hooked Protocol, with 20% of the tokens already allocated.

As a result, it is hard at work developing Web3-specific product experiences to encourage widespread user adoption and facilitate continued community development.

In the meantime, they are putting together the infrastructure for companies that want to come to Web3, with the goal of creating an ecosystem of future community-owned economies that people will want to be a part of.

They hope to build a decentralized identity system, user-friendly wallets, and incentives-laden community gateway to Web3.

This is based on the gamified learning experience, which combines a streamlined educational system with an engaging and inquisitive environment. In this way, it will be possible to learn basic Web3 concepts while playing.

It is also working on Web3 emulation experiences so that users can take part in the most important crypto areas, like NFT and GameFi.

Wild Cash

Hooked’s first pilot product, Wild Cash, has been a huge success since its launch in Indonesia and Brazil, where it now has over 2 million monthly active users.

With its novel mechanisms for earning money by answering questions, the Quiz-to-Earn dApp has become the most popular of its kind on Google Play in Indonesia.

Exactly this is what you can expect from Hooked’s gamified learning experience, and the company plans to keep pushing for widespread adoption of its platform by means of its Academy.

Users can start an immersive Web3 learning experience with Wild Cash and earn token rewards at the same time. They could also make a lot of money, especially if they spread the word about the game through their social networks.

The accumulated tokens can be staked or traded after some time has passed.

Binance Launchpad: the Hooked Protocol (HOOK) roadmap

Funding through the private sale, launching the dApp in Indonesia and Brazil, and reaching 2 million monthly active users are the milestones already achieved.

In the following steps, actions up until the end of 2023 will be taken.

Quiz-to-earn will expand internationally in the fourth quarter of 2022, and the company will collaborate with tier 1 infrastructure to find scalability solutions that will allow for explosive future user growth.

A more robust gamified learning experience, partnerships with other Web3 projects to bring new applications to the Hooked protocol, and the release of the wallet for community users are all on the agenda for the first half of 2019.

They plan to set up a DAO as a governance structure, release a variety of applications, and make application middleware solutions for ecosystem developers by the end of 2023. This will make them a major player in the Web3 pioneer community.

Collaboration with Binance

Not only did Binance launch the HOOK crypto token with its Launchpad, but the partnership between Hooked Protocol and BNB Chain turns out to be a long-term and lasting commitment.

The goal is to motivate the Hooked community to explore other applications in the BNB Chain ecosystem as well

In fact, a week before the program was released to the public, Binance held a subscription program that only BNB holders could join. Subscribers received HOOK tokens in their Binance wallets in relation to the amount of BNB they had locked up upon the token’s release.

Binance has been involved in many token launches before, and Launchpad has seen its fair share of token releases over the years.

Binance’s Launchpad is where new tokens are announced just before they are made available on the exchange.

Many people place a high value on Launchpad because their products’ post-launch market value often exceeds their estimated value before they went on sale. However, even in the case of HOOK, users who bought it in advance and then sold it when it was listed would have made significant profits.

It’s important to note, however, that many of the tokens issued in this fashion have seen their value erode over time.

Tokens like HOOK Crypto

After its March debut, GMT (STEPN) quickly increased in value from $0.13 to $3.8. However, the price eventually dropped by more than 90% from its peak, to below $0.4 while still being above its introductory level.

SFP (SafePal) fared even worse, with a launch price of around $1.3 in February of last year and a subsequent decline to under $0.5 (from a high of $4.2 shortly after launch).

GIFTO was among the first to enter the market, launching in December 2017 at a price of about $0.3.

Following an initial peak of $0.96 just weeks after launch, the price has since collapsed to just above $0.01. It has fallen by more than 98% from its all-time high and is not showing any signs of turning around.

Launch of FET (Fetch.ai) in February 2019 was one of those that stood out as more significant.

In such a scenario, the price dropped the very next month before rising sharply during the previous year’s bull run, reaching an all-time high of $1.1 in December.

At its current price of $0.056, it is 94% cheaper than its all-time high of the previous year and much cheaper than its original launching price of $0.3.

Source: Cryptonomist




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