Memecoins
Galaxy Fox memecoin soars as it prepares for web3 game launch
Disclosure: This article does not constitute investment advice. The contents and materials on this page are for educational purposes only.
Galaxy Fox (GFOX), a newly launched meme coin, has raised over $6 million in pre-sales and is seeing a 22% price increase ahead of the web3 game launch.
The new memecoin Galaxy Fox (GFOX) launched on Uniswap and DEX Tools last month after a cryptocurrency presale where they raised over $6 million. Now, the team behind the project is preparing for the next steps, mainly the launch of the highly anticipated web3 game Endless Runner.
While memecoins have often been criticized as lacking real utility, Galaxy Fox aims to break this mold by incorporating an immersive gaming experience based on blockchain technology. This approach could potentially breathe new life into the meme coin space and pave the way for future meme tokens to offer authentic use cases beyond mere speculation.
How does the Galaxy Fox web3 runner game work?
Basically, Galaxy Fox features an Endless Runner web3 game that elevates traditional gaming experiences. In this game, players can earn money GFOX tokens based on their gaming performance.
The top 20% of players each season will receive rewards that they can exchange for GFOX tokens, creating a compelling incentive structure that rewards the most qualified and engaged participants.
The game also incorporates unique NFT assets that players can purchase. These NFTs provide temporary attribute boosts, adding a strategic element to the gaming experience and creating a tangible avenue for potential financial rewards.
Based on the game’s trailer released last month by the Galaxy Fox team, players will operate warplanes, collecting points and fighting enemies. The goal is to accumulate enough points to secure a position on the leaderboard, which will then provide rewards based on the player’s rank. The long-awaited game is scheduled to launch on May 11th.
Staking features and incentives
To further incentivize participation and foster a robust ecosystem, Galaxy Fox offers a staking feature with attractive rewards.
For the first 30 days after launch, the project will provide a special offer with the following Annual Percentage Yields (APY):
30 Day Lock Up / 15% APY / (0 Min) / 15% Early Withdrawal Penalty
60 Days Lockup / 20% APY / (25,000 Min) / 15% Early Withdrawal Penalty
120 Day Lockup / 35% APY / (50,000 Min) / 15% Early Withdrawal Penalty
360 Day Lockup / 60% APY / (100,000 Min) / 15% Early Withdrawal Penalty
After the initial 30 day period, staking APYs will be adjusted at the following rates:
30 Day Lock Up / APY 7.5% / (0 Min) / Early Withdrawal Penalty 15%
60 Day Lockup / 10% APY / (25,000 Min) / 15% Early Withdrawal Penalty
120 Day Lockup / APY 17.5% / (50,000 min) / Early Withdrawal Penalty 15%
360 Day Lockup / 30% APY / (100,000 Min) / 15% Early Withdrawal Penalty
These staking rewards provide an attractive proposition for long-term holders, potentially driving sustained demand and fostering a more stable token ecosystem.
Galaxy Fox memecoin price prediction
The price of GFOX has increased by 22% in the last 24 hours, making it one of the best-performing meme coins on the market. According to data from Dextools, the current market capitalization stands at $1.45 million, with the price of GFOX hovering around $0.0013. Total liquidity in the pool is just under $600,000, a decent figure for a small-cap gem like this.
It is worth noting that the listing price of GFOX was $0.004, significantly higher than current levels. However, this discrepancy can be attributed to the selling pressure exerted by early presale investors who chose to lock in profits at the time of the coin toss.
Although the initial token distribution event (TGE) allocated 25% of the supply to these investors, this was still enough to put significant downward pressure on the price in the first few weeks.
After this initial volatility, the price of GFOX has consolidated and has now started pumping again, as mentioned, up 22% in the last 24 hours. If the launch of the web3 game proves to be as successful as the coin’s initial release, the GFOX token could potentially revisit its launch price level of $0.004, representing a potential upside of more than 2.5x from current levels.
Conversely, the $0.001 level should now act as a support zone, as this is where new buyers started accumulating the coin during the consolidation phase.
Conclusion
The Galaxy Fox project has garnered significant attention within the crypto community, thanks to its unique approach to combining meme coin culture with an authentic web3 gaming experience. The launch of the highly anticipated Endless Runner game on May 11 could serve as a catalyst for further price appreciation, especially considering the attractive staking rewards on offer.
All in all, Galaxy Fox’s value proposition represents an intriguing opportunity for those seeking exposure to the burgeoning intersection of meme coins and web3 games.
To learn more about GFOX, visit the Galaxy Fox presaleOR join the community.
Disclosure: This content is provided by a third party. crypto.news does not endorse any products mentioned on this page. Users should do their own research before taking any action related to the company.