Freewoly (FWO) powered by the Binance smart chain (BSC) combines the power of the meme with the real utility through both gaming and an NFT marketplace. Memecoins have become the industry standard for up-and-coming cryptocurrency gaming projects and can see very impressive gains in a short space of time. The token will act as the currency for transactions within its ecosystem, styled on the hugely successful game Farmville, which netted $2.78 billion in revenue in 2021.
Can Freewoly intrigue its intended audience?
Freewoly is intending to combine the interactivity of Pokemon Go with the strategy aspects of Farmville, as both games were extremely successful in the past. Everyone remembers the Pokemon Go craze, where children and adults took to the streets to interact with the game quickly becoming entranced. If this cryptocurrency gaming project is set to gain a similar level of attraction, it is not difficult to imagine the FWO token taking off in a similar fashion to its rival Ape coin (APE).
The game functions on a play-to-earn model. Every animal in the game is minted as an NFT; the rarer the animal or the more beneficial characteristics it features, the higher its worth in FWO tokens. Thus, the game becomes an NFT marketplace as players can buy and sell their NFTs (animals) and even their entire farm for FWO tokens.
How Ape coin swung to immediate success.
Ape coin (APE) epitomises the combination of meme coin and cryptocurrency gaming/metaverse projects. The aptly named project utilises the meme culture surrounding ‘apeing’ into certain cryptocurrencies, namely meme coins, that are currently pumping and uses this to its advantage in its marketing strategy.
The Ape coin token, however, has far more substance behind it than simply tapping into meme culture. The Bored Ape Yacht Club boasts 10,000 NFTs in its unique NFT marketplace and owning one acts as your pass to the club itself, bringing with it various profitable perks. Yuga Labs, the parent of the Bored Ape Yacht Club has just released its metaverse project ‘Otherside’ where individuals could mint NFTs to use in-game. What makes Ape coins so invaluable to the metaverse project is that land in their metaverse can only be bought and sold with APE, with the token acting as the only currency in the ‘Otherside’ economy.
Yuga Labs tweeted shortly after the event that this had ‘been the largest NFT mint in history by several multiples’ demonstrating the vast demand for the Ape project and popularity it has gathered in such a short space of time. The very same mint, however, highlighted a potential drawback of the project. Due to the popularity of the mint the foster network that the Ape project is built on, Ethereum went offline and ETH gas fees spiked several times over leaving some individuals with a $44,000 gas fee to mint NFTs.
Do the fundamentals behind Freewoly make it a stronger project than Ape coin?
There is a strong case to argue in favour of Freewoly. Being run through the Binance Smart Chain (BSC), there is a much smaller chance of the project experiencing technical difficulties as Ape coin did with Ethereum. Transactions on the BSC are much faster and much cheaper than on the Ethereum network. Second to this, the game itself is far more accessible than the Otherside metaverse, making the number of players likely to be much higher. In a crypto gaming project like this, the number of players is directly correlated to the value of the project. If Freewoly can achieve a revenue anywhere near the scale of Farmville, mentioned above, then this coin is destined to shoot for the moon.
Taking Ape coin as a comparison, which is currently trading at just over a $4 billion valuation, FWO offers a once-in-a-lifetime opportunity to get involved with a project while its market capitalization is still extremely low. If you’re interested in making life-changing returns off a small investment, then keep an eye out for the presale for Freewoly. Remember, always do your own research.
