Why is RFOX (RFOX) crypto rising?

Many new products continue to join the crypto family. But the NFTs or non-fungible tokens are among the most popular, driven by their unique metaverse concepts.

These crypto projects cover many spheres of life today – from music, retail to gaming.

One such crypto project is RFOX (RFOX), making a big splash on the scene. The RFOX token surged over 6% on Wednesday morning, while its last 24-hour volume rose more than 29%.

Also Read: Why is Stellar (XLM) crypto rising?

Source: *Data provided by CoinMarketCap.com

What is RFOX (RFOX) crypto?

RFOX is a metaverse-focused project that aims to provide a complete metaverse experience targeting the retail, media, and gaming segments.

According to its website, its native RFOX digital token boosts its metaverse ecosystem, currently launched in a beta version. It allows users to create, organize, and sell NFTs effortlessly.

The Web 3 NFT marketplace allows artists, creators, and businesses to create NFTs without worrying about technical processes. It plans to be a one-stop shop for users who want to create, organize, and trade non-fungible tokens.

Also Read: Why is FTX Token (FTT) rising?

Why is it gaining attention?

The buzz around metaverse is attracting people in droves from diverse fields, including gaming, music, and content, and boosting gains in the NFT market.

To build a close rapport and educate the users, CEO and Co-founder Ben Fairbank had recently said he would answer 10 questions on NFTs from them.

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The RFOX ecosystem offers various innovative services like RFOX Valt, RFOX NFTs, RFOX Games, RFox Medias, and RFOX Finance.

The RFOX coin can be traded on Gate.io, Uniswap (V3), PancakeSwap (V2), etc.

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Bottom line:

The RFOX token was priced at US$0.04964 at 11:56 am ET, up 6.89%, while its one-day volume jumped 29.59% to US$1.15 million. Its total and max supply is 2 billion, and its current circulating supply is 1.31 billion.

RFOX’s market capitalization is US$65.13 million, and its fully-diluted market cap is US$99.28 million. The global crypto market was up 7.72% to US$1.85 trillion on Wednesday morning.  The market shrugged off concerns over a possible tighter law hinted by the Treasury Department.

Also Read: Why is Pawtocol (UPI) crypto gaining attention?

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