In the past few days, the scene is still unstable, NFT Chikn from AVAX has received FOMO back from the community with 1 NFT Chikn sold for AVAX for 2500 (equivalent to about 32.5 ETH), NFT Roostr with AVAX 1000 ( ~ 13 ETH) this is also given the collection's average price higher than ever.In the past few days, the scene is still unstable, NFT Chikn from AVAX has received FOMO back from the community with 1 NFT Chikn sold for AVAX for 2500 (equivalent to about 32.5 ETH), NFT Roostr with AVAX 1000 ( ~ 13 ETH) this is also given the collection's average price higher than ever.
Project Chikn- a cross between NFT, GameFi and Metaverse on Avalanche
Chikn is an NFT and Gaming project expanding continuously. With the stability of the Tri-token infrastructure (3 tokens operating the ecosystem), Chikn is built to create an economic triangle and increase liquidity.
The Fundamental Of Chikn Economic:
NFT Chikn: is an NFT that can be upgraded, spawning EGG tokensNFT Chikn : is an NFT that can be upgraded, spawning EGG tokens
EGG Token: Ecosystem utility and governance token, used as fees and trading in Chikn's market
FEED Token: offering at Chikn Farm, FEED is used by Chikn as food, helping to upgrade this NFT.
Farming: stake EGG tokens, get FEED tokens.
Upgrade NFT : use FEED tokens to let NFT Chikn consume to help upgrade this NFT, generating more EGG.
Let's take a look at some of Chikn's recent data:
NFT Chikn : Chikn price from the end of August was about 750 USD, now the floor price has been raised to 1500 USD/ 1 NFT Chikn. The chart above also shows a substantial increase in trading volume from mid-August until now, despite fluctuations in the market.
Nearly 75% of people hold NFT Chikn for 3 months or more, proving much of the collection's appeal and the community's confidence in Chikn's growth potential.
Similar to Chikn, there are two other NFTs in the Chikn ecosystem, Roostr and Farmland, which are also being noticed.
Based on the above data, it is clear that Chikn has been getting more and more attention lately. But why?
Some explanation for the FOMO
1. Launching the Foraging feature
This is a newly updated mechanism intended to work in the near future. This functionality will soon be one of the essential additions to the Chikn gameplay and ecosystem.
Foraging introduces a new asset class, FarmLands, which acts as NFT Lands on Metaverse and allows players to 'raise' their NFT Chikn and Roostr.
Players deposit Chikn and Roostr into the FarmLand they own, collecting off-chain resources that can generate collectible and upgradeable resource NFTs.Players deposit Chikn and Roostr into the FarmLand they own, collecting off-chain resources that can generate collectible and upgradeable resource NFTs.
These resources can be used to craft various items; some are more about power, some are related to magic, and others are simply helpful tools.
Each trait of Chikn and Roostr will interact with a specific resource the player finds.
If these traits are strategically combined on the respective FarmLand, this NFT Chikn or Roostr will gain a stat advantage.
In particular, each FarmLand can expand to create rich lands rich in resources. Therefore, the development potential of this feature for players is huge.
2. Create a new usecase for the EGG token
Another reason why Holdstation governance is in Chikn in the future is that the EGG token has a new feature. In the near future, the project will use its governance EGG token as a Launchpad for other AVAX NFT projects.
This will be a win-win situation for the new project itself and for Chikn:
- New projects can leverage Chikn and Avalanche communities and reach.
- Chikn leverages the system to burn its tokens.
3. Collaborate with well-known projects.
Trader Joe - Avalanche's No. 1 AMM platform
Chikn collaborated with Trader Joe - the number one AMM exchange on Avalance system to conduct AMA to explain more about the future of the project.
Chad Doge NFT Collection
Chikn and Chad Doge - the most sought-after NFT set on Joepegs have come together to organize the Chikn Beauty Pageant program, allow users to mint NFT on Joepegs on October 5, 32 participants slots, 10 people enter the ring. The finalists chose 1 Miss Chiknverse.
Immediately after the above move, the price of the NFT Chad Doge set also witnessed a strong growth of up to 40% since the lowest price on September 28.
4. Continuous innovation through updates4. Continuous innovation through updates
Chikn always knows how to refresh itself with the release of updates at specific times, helping to attract new users and retain old users with special offers.
Users can be constantly updated with information from the Project Media page here.
Chikn has created a novel concept that demonstrates the growth potential of NFT, combining NFT, Gamefi and Metaverse. This is not only found through the work growth of user tracking on the background platform, which is the following variable of the price boost.
In my personal opinion, the projects that survive during the downtrend of the market will be the best community-built projects, with fresh changes and long-term thinking to continue to deliver. value to their community. Up to this point, Chikn has and can perform very well.
The above are analysts about the Chikn project, not a financial advice.