SCARY (SCY) outperformed the majority of cryptocurrencies over the weekend by rallying by more than 1000% while the majority of coins including bitcoin dropped.
Today, the coin was trading at $0.02642 at the time of writing, after a 24-hour surge of about 52%.
What Is SCARY (SCY)?
Before getting into what is causing the current Bull Run, it is important to first explain what SCARY is.
SCARY is a unique blockchain-based Gamefi integrated platform that combines an immersive NFT, Farm, and adventures quests to conquer $SCY inside the Monsters Metaverse.
It was launched in December 2021 and SCY is its native token.
In the SCARY game, players choose Scary Door as well as build empires using the SCY tokens to battle monsters by challenging them for a prize in SCY tokens.
It features two different classes of monsters: Newborn monsters that are born by hatching eggs and Genesis monsters that have unique abilities and skills that Newborn don’t have; only 1000 of them will ever be made.
The game has a fully functional NFT marketplace for the players to purchase Scary Monsters. At the time of writing each cost 0.2BNB which is roughly $80, which is a bit expensive.
A random system displays three doors for your monster to visit once you start the game. This is similar to Monster Inc movies where monsters visit different doors. Players can also decide to choose a specific door and win different rewards. Additionally, Doors in the game receive 10% of all rewards earned by visiting Monsters.
To keep playing the game without taxes or gas fees, the players must hold at least 1000 SCY tokens. However, the game is currently under development with the beta version anticipated to come in Q1 2022, stay updated.
Why is SCARY (SCY) price surging?
One of the reasons for the current price surge is the recent SCARY migration to a new contract address Scaryswa, a decentralized exchange.
Our contract migration is live on https://t.co/uqDel09YrK swap ratio is SCY 1:5 SCARY! Enjoy the farms and pools, Scary Doors Game is coming! @AutoSharkFin @autofarmnetwork @Guitar_swap @Farmaggedon_ @RoboWolf8 @CoinTigerEX #Staking #farming #Pools pic.twitter.com/xGQ1pyCrYN
— ScarySwap (@Scaary_Games) February 17, 2022
After SCY was released in December, the token nosedived with the rest of the cryptocurrencies following a continuous crypto bloodbath that has dominated the start of 2022, partly because of the US FED saying it shall increase interest rates in the coming months.
With the current game-changing move and the fully functional NFT marketplace, the price of the SCY token is definitely on a monster Bull Run.
Furthermore, if the team delivers on its beta version promise of the game in Q1 2022, then SCY can rise to over a $1 million valuation.
The post SCARY (SCY) price jumps by more than 1000% over the weekend: what is fuelling the Bull Run? appeared first on Coin Journal.