In a remarkable display of defiance against the stagnant crypto market, the native altcoin for a gaming-centric non-fungible token (NFT) marketplace experienced a significant surge of over 35% within a 24-hour period this week.
Prom (PROM), which prides itself on being a decentralized, confidential, and secure ecosystem for the exchange and rental of NFTs, witnessed its native token, PROM, rise by an impressive 36.3% in the past day, currently trading at $7.65 as of the time of writing.
The exact catalyst behind this surge in token price remains somewhat unclear. However, it is worth noting that the asset’s gains coincided with the promotion of a new game listing by Prom. The project recently added support for Poglin, a blockchain-based fighting game set in a fantasy world.
Comparatively, the overall crypto market cap only experienced a modest increase of 0.2% in the past 24 hours and has faced a decline of almost 5% over the past week, as reported by CoinGecko.
Last month, Prom made headlines with the announcement of a strategic partnership with DWF Labs, a web3 investment firm. The project explained that the collaboration involves the exchange of expertise, combining Prom’s innovative approach to the gaming sector with DWF Labs’ strategic insights into digital assets. This collaboration aims to drive innovation and establish new standards in the Web3 gaming space.
Despite the recent surge in price, PROM remains significantly lower, approximately 93%, from its all-time high of $106, which it achieved in April 2021.
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