REVV Pick Of The Month Report: REVV Review and Evaluation
Disclaimer: The text below is a press release that was not written by Cryptonews.com.
|Current Price||USD 0.017477|
|Market capitalization||USD 4,219,826|
|Buy Up To Price||USD 0.033|
150M REVV was sold at a rate of USD 0.00666 (USD 999,000) to strategic partners and liquidity providers. 7.5M REVV was sold during the community sale on Uniswap with the starting price of USD 0.00666.
|Circulating Supply||127,531,555 REV|
|Total Supply||3,000,000,000 REVV|
|ATH Price||USD 0.033098 (October 1, 2020)|
|30-Day Average Price||USD 0.017684|
|24H Volume||USD 274,138|
|30-Day Average Volume||USD 676,527|
|30-Day Average Price||USD 0.017684|
Spotting trends can be valuable when it comes to crypto investing. Long before the DeFi hype, we issued BUY recommendations for several DeFi projects that produced excellent returns for subscribers.
DeFi still remains the biggest trend in cryptocurrency despite the current downtrend in the market. In our opinion, after a healthy correction the prices of DeFi projects will come back up.
However, decentralized finance is not the only exciting sector in crypto that can potentially produce great returns.
In September, we saw the rise of projects that deal with Non-Fungible Tokens (NFT). These are a special type of cryptographic token that represents something unique, meaning there will not be another token identical to it on the blockchain.
NFTs are likely to be the next big thing in crypto.
Many of you may remember the game CryptoKitties, whose popularity congested the Ethereum network in 2017. CryptoKitties operate as NFTs, and each digital cat is unique. Like regular ERC-20 tokens, the value of NFTs can appreciate or depreciate based on market demand.
Since 2017 the sector has been evolving, and in September, many NFT projects have generated significant returns. However, this is still the beginning of the rise of NFTs in the crypto space.
There are currently many types of NFT you can find on the market—crypto art, crypto-collectibles, and crypto-gaming are examples.
Of particular interest to us is crypto gaming, since selling in-game content has become a popular revenue model for game publishers.
Blockchain technology enables the pairing of in-game items with NFTs, which can potentially disrupt the entire gaming industry. Users will have the ability to freely trade their in-game items without relying on centralized parties or black markets. And, there are not that many projects working in this particular sector.
We think that we found an exciting project that is trying to combine blockchain gaming and NFTs. The name of the project is REVV, and it is unique in several ways.
It was developed by Animoca Brands, one of the strongest companies in blockchain gaming. The company was founded in 2014 by Yat Siu and is a spin-off of Animoca. Animoca is a traditional game developer with almost 15 million users.
REVV is the main utility token, as well as the in-game currency of the branded motorsports games produced by Animoca Brands.
Connecting Motorsports Games and NFTs
REVV allows gamers to purchase services, trade, and play blockchain games based on leading motorsports brands. REVV will connect multiple Animoca Brands blockchain game titles based on motorsport intellectual property. These games will feature two main play experiences—collecting and competitive racing.
The game has not been released yet, but the team plans to launch next month. Multiplayer mode would follow the launch.
The game teaser is already available here:
The project’s second game will be based on MotoGP™. Grand Prix motorcycle racing is the premier class of motorcycle road racing events and the oldest established motorsport world championship. The inaugural season took place in 1949.
Initial features of the MotoGP™ will be released in Q4 of this year.
The project is also planning to announce a third blockchain game soon, which is also based on a global racing franchise.
The project is actively selling in-game items (NFTs) for the F1® Delta Time game, which could be used for playing, or as a collectible.
According to the largest NFT marketplace, OpenSea, F1® Delta Time currently has 11,421 items and 566 holders.
With the launch of the game, these NFTs will represent an essential part of the game ecosystem. Players could use them to upgrade their cars, drivers, racetracks, and other in-game assets.
Moreover, these items are also valuable as collectibles, since Animoca Brands holds licenses to the Formula One and Motor GP brands.
These championships have a long history and a large number of fans around the world. If just a small number of these fans decide to own original NFTs from Formula One or MotoGP™, the cost of some of these items could spike.
These will directly benefit REVV token holders since the token is meant to be a single currency that connects the Animoca Brands motorsport games.
REVV Token Utility and Distribution
There are several ways in which REVV tokens can be used in Animoca Brands’ blockchain titles. Each additional title would support the broader REVV ecosystem and the token itself.
- NFT Purchases — as a means to purchase exclusive NFTs from F1® Delta Time and other games.
- Gameplay Entry Fees —as an entry fee for all of the gameplay modes.
- Gameplay Rewards —a portion of the gameplay fees collected in each race will be used as player rewards based on their race performance. A portion of the gameplay fee will also be paid as dividends to the track’s owners (NFT purchasers).
- Staking — Owners of race car NFTs can “stake” them to earn REVV
The total supply of tokens is limited to 3B REVV. 500M will be allocated to F1® Delta Time and 1.3B will be held in reserves and later allocated to other games.
Tokens allocated to F1® Delta Time will be used to promote the game and increase the number of gamers on the platform.
In order to increase engagement, the project is planning to provide gameplay incentives as new features are rolled out. The team is also planning various marketing incentives, including promotional airdrops, staking rewards, and others.
For example, on Sept. 15, the project launched staking rewards on F1® Delta Time car NFTs. By staking their NFT, users can earn REVV rewards. The reward is determined by the rarity of the NFT, with rarer items generating larger returns.
Currently, the circulating supply of tokens is equal to 127,531,555 REVV tokens. It will increase by the end of the year as the team releases more Initial DEX offering tokens.
Many of the initial investors are also long-term partners and investors in Animoca Brands.
After the release of the Initial DEX offering tokens, the circulating supply will increase at a snailspace pace for the next several years.
Overall, given the price per token and the market cap of the project of just around USD 2M, it presents a very interesting opportunity.
Right now, under 10% of the current token supply is in circulation. On a fully diluted basis — which calculates when all tokens are put into circulation—the project’s market capitalization is around USD 50M, compared to its real market capitalization of USD 2M.
Despite the high fully diluted market capitalization and small percentage of tokens currently in circulation, the emission rate of the REVV token will remain low over the next year.
About Animoca Brands
REVV has one of the strongest teams in the NFT and blockchain gaming space. Animoca Brands was founded in January 2014 by Yat Siu and is a spin-off of Animoca, a well-established game developer with 15 million users.
Siu received several awards, including the DHL SCMP Business Awards and the Talent Unleashed Awards, and has been named a Global Leader of Tomorrow as well as a Young Global Leader by the World Economic Forum.
Overall, the company has a well-established team with long-time gaming, blockchain, marketing, and development experience.
Recently, the company also hired Matt Solomon, the former Formula 3® (F3®), Formula Masters China Series (FMCS), and GT3 racer, as an in-house racing specialist. Matt will contribute his knowledge and experience in professional racing and assist in the development of motorsport projects.
Animoca Brands is currently a leading player in digital entertainment, specializing in blockchain, gamification, and artificial intelligence technologies.
Project’s gaming portfolio includes Sandbox, Crazy Kings, and Crazy Defense Heroes.
Sandbox is a virtual world built on the Ethereum blockchain and its native token SAND was recently listed on Binance.
REVV could potentially follow SAND with a Binance listing, as well as other listings.
The company also owns a variety of intellectual properties, such as Formula 1®, Marvel, Garfield, Snoopy, Thomas & Friends™, Power Rangers, MotoGP, and Doraemon.
Moreover, Animoca is actively investing and acquiring many projects that are building products in the NFT and blockchain gaming space.
In September, Animoca Brands acquired NinjaStickers. NinjaStickers provides NFT cards, or collectible stickers, of intellectual properties based on MotoGP, Moto2, and Moto3.
In July, the company acquired Gamee, which owns a portfolio of over 80 casual games and boasts a gaming community of 13 million registered users and 1.3 million monthly active users.
Animoca Brands' portfolio of blockchain investments and partnerships includes Lucid Sight, Dapper Labs (creators of CryptoKitties), WAX, Harmony, and Decentraland. Animoca Brands is also one of the Open Sea investors, the largest NFT marketplace.
Having such a large ecosystem of projects could help the company create synergies between them. This should be beneficial for the REVV ecosystem as the project develops.
Buy-to-to price: USD 0.033000 – REVV is close to breaking out from a bullish falling price channel following an extended period of price consolidation.
Technical analysis indicates that an explosive upwards move towards the USD 0.033000 level is highly probable once prices break above the channel.
We believe that REVV has the key ingredients to be a wildly successful project. It has all of the prerequisites to grow in value and attract a vibrant community. REVV is backed by one of the strongest teams in blockchain gaming. And, they have an unbeatable ecosystem to create synergies between their gaming products.
At press time, REVV's market cap is still relatively low and indicates strong upside potential. In our opinion, this pick easily has the potential to 5x over the next year.
Blockchain gaming and NFTs is a trend that could become the next DeFi — gaining fuel not only from the crypto-community but also from a large community of active gamers around the world.
Things are just revving up for REVV, making it our Pick of the Month for October.
Disclaimer: The author of this report owns BTC, ETH.