Institutional-grade cryptocurrency exchange AAX recently announced its support for Animoca Brands as it lists a range of blockchain gaming tokens with strong market demand, i.e., $REVV, $TOWER, and $GMEE.
The move is AAX’s first step towards building its own GameFi ecosystem.
Blockchain Gaming Tokens List on AAX
In an announcement made on December 30, 2021, one of the largest cryptocurrency exchanges by reported trading volume AAX stated it had listed three emerging blockchain gaming tokens, namely, $REVV, $TOWER, and $GMEE in a bid to establish its GameFi ecosystem.
Notably, AAX’s decision to list the three tokens hints toward its support for Animoca Brands, a global juggernaut in blockchain-based gaming and the author of some of the leading play-to-earn titles such as REVV Motorsport, REVV Racing, The Sandbox, Phantom Galaxies, and Tower Experiment.
What are the Tokens About?
For the uninitiated, $REVV is an ERC-20 utility token that functions as the main currency in both the REVV Motorsport and REVV Racing dApps. The $REVV tokens undergirds a sophisticated play-to-earn arrangement that rewards the most successful players with both crypto rare in-game assets that can be used across titles.
Another token listed on AAX is $TOWER, the native utility token of two famous mobile games, The Crazy Kings and Crazy Defense Heroes. Tower is built atop the Ethereum blockchain and the $TOWER tokens serves as a medium of exchange among players. The token can be used to purchase in-game items, pay tournament entry fees, and participate in the governance of both games.
Finally, the $GMEE token is another ERC-20 token that primarily functions as the utility coin for the GAMEE mobile game ecosystem. $GMEE enables players to participate in game tournaments hosted on the GAMEE Arc8 platform. In addition, the token can be used to buy and sell GAMEE NFTs.
Commenting on the development, Ben Caselin, AAX’s Head of Research & Strategy, said:
“Animoca Brands is among the most exciting and forward-thinking brands shaping culture and practice around the idea of Web 3.0.”
“What sets Animoca Brands apart is their proven commitment to build an environment where both established and new generations of gamers, entrepreneurs, content-creators and developers can be creative, build identity, secure ownership and participate in virtual micro-economies, with real-world applicability. We’re pleased to offer a rich and diversified exposure to their most promising projects and contribute to the development of a more sophisticated market around the emergent Metaverse.”
AAX has already opened deposits and withdrawals for the $REVV, $TOWER, and $GMEE tokens. Spot trading of $GMEE/$USDT, $REVV/$USDT, and $TOWER/$USDT pairs is live.