Japanese Gaming Giant Chose This Altcoin on the Turks’ Radar!

The digital arm of Japanese gaming giant Konami Group announced that it will use Avalanche Blockchain to improve the services of its NFT platform Resella. Konami aims to build Resella to make it easier for developers to design and issue NFTs. The gaming giant also aims to offer users a better market experience with this move. Meanwhile, IntoTheBlock data points to a downward trend for the altcoin.

Konami chose Avalanche for Resella!

Konami Digital Entertainment, the digital arm of Japanese entertainment and gaming giant Konami Group, announced today that it has established a partnership with Avalanche. With this move, Konami aims to increase the efficiency of the Non-Fungible Token platform Resella and offer lower costs to users. In particular, Konami announced that Resella will be supported by Avalanche Subnet. He also stated that there will be a zero gas price for users. In this context, Konami noted that Resella will be supported by Ava Labs’ AvaCloud Web3 launchpad service.

Konami is known for its global series such as eFootballTM, Metal Gear and Silent Hill. The company announced the Resella platform last year, designed to meet the needs of both developers and users. Konami said Resella can empower developers to “seamlessly design, issue, and trade NFTs within their apps,” while providing users with a decent marketplace experience. Additionally, Konami underlined the following issues:

Resella paves the way for new social experiences in the Web3 ecosystem. It also envisions seamless integration between various services to increase user participation. For example, NFTs originating from gaming environments can transcend their virtual ends to serve as tickets to events or unlock exclusive in-game content, enriching the overall user experience.

on-chain given What does r show for altcoin?

cryptokoin.com As you follow from , AVAX, which is also on the radar of Turkish cryptocurrency investors, saw a strong increase this year. The token has increased by over 140% in the last year. However, it has lost this momentum recently. In this context, the altcoin has lost approximately 24% value in the last month. Currently, the token was changing hands at $27.06. The altcoin market value is approximately 10.70 billion dollars. The distribution among holders in the money at the current price is relatively stable, with 49% in the money. AVAX saw transactions worth $461 million worth over $110 thousand. According to data provided by IntoTheBlock, sentiment and trading signals are mostly bearish.

Source: IntoTheBlock

This sentiment is supported by several bearish on-chain and exchange signals, such as net negative growth in network processes and bearish bid-ask volume imbalance, meaning selling pressure is increasing. However, the general atmosphere remains mixed.

Source: TradingView

As seen in the chart above, the price of AVAX is moving below all averages. This indicates a strong downward trend in the near term, according to analysts. The RSI being at 40 means that the asset is neither overbought nor oversold, that is, neither bullish nor bearish. Bollinger Bands show that AVAX is trading mostly within the bands, indicating stable volatility. Periodic breaks below the lower band, balanced by the small declines observed, indicate that the bears are entirely responsible.