Coin Spotlight
24 Mar 2022

My Neighbor Alice (ALICE) in Spotlight

Deepan Datta

As far as first impressions go, My Neighbor Alice probably sounds like a fairy tale or anime series based on the pop song “Who the f*** is Alice?” But, no, it’s neither of those things. In fact, it’s a blockchain-based online multiplayer farm builder game that has attracted huge user interest recently.

So much is the craze for the game, its token ALICE has jumped over 50x in valuation since its Initial Coin Offering (ICO), which ended on 4th Feb 2021. The token’s ICO price was $0.125, but by November 2021, it touched the all-time high of $28.44 (₹2,184). Although the coin has dropped in value, in line with the other major coins, it is one of the actively traded coins in the market with a volume/market cap ratio standing at 1.01, which is higher than most leading coins in the market.

Key Metrics

  • Coin Rank: #251
  • Coin Market Capitalization (as of 23rd March 2022): $202 million
  • Coin Economy: Fixed supply
  • Coin Total Supply: 100 million ALICE
  • Coin Circulating Supply: 30.6 million ALICE

Technical Analysis: ALICE Price Analysis

Outlook: Improving

MyNeighborAlice
source: tradingview.com

On the daily chart, it seems the coin is trying to break above the highly resistive 50 EMA* slope; if it does and stays there for the next three days, it will be a confirmation of a trend reversal.

The next major resistance is at the $9.60 (₹ 768) level, which will be difficult to break above unless the broader market is positive. Alternatively, if it fails to break above the 50 EMA slope, we might see the price going below its new low, $5.50 (₹ 427.58), which was made a few days back.

*Exponential Moving Average

A Brief About My Neighbor Alice

My Neighbor Alice is a farming-themed online multiplayer play-to-earn game built on the Chromia platform. The game is developed by Antler Interactive, a Swedish gaming studio.

It is a free-to-play game, wherein users can enter and witness the gameplay before making their first in-game asset purchase to join in. Once in, in-game purchases are offered as Non-Fungible Tokens (NFTs). These NFTs can be traded as collectibles with other players within the game.

The gameplay requires players to own land in the virtual world, collect and trade various in-game items like houses, fences, plants, animals, and livestock at the in-game marketplace, perform various daily activities, interact with neighbors, and so on.

The virtual world also has its own economic system, where players borrow and lend virtual properties and earn a fixed return. Alice has developed its own reputation system, which rewards players who are marked as good landowners. Together with other players in the game, you can work on shared goals, enable community-created events where players can participate in activities and competitions, and earn rewards in ALICE tokens.

It has a player-driven storyline, and players use their digital avatars, which are in the form of NFTs, to navigate Alice. All blockchain-powered features like DeFi are included.

ALICE Tokenomics

ALICE is an ERC-20 token and works as a utility token—meaning, the token used within the Alice ecosystem powers all in-game purchases and rewards to players.

ALICE Tokenomics

ALICE has a fixed supply of 100 million tokens, of which only 31% is in circulation. The remaining will be released slowly as the game gains popularity and more users start transacting with ALICE.

Out of 100 million token supply, 21 million was offered in the initial token sale, 20 million held in reserve, 15 million allocated to the development team, 16 million reserved for the game’s ecosystem, and the remaining 5 million for user incentives/rewards.

My Neighbor Alice’s Growth Potential

With the growth of metaverse and NFTs, blockchain gaming is going through a dominant trend and the platforms associated with it have witnessed a huge surge in value. They are now being considered crucial for the mass adoption of cryptos.

Compared to other blockchain gaming platforms, which have their own storylines, in My Neighbor Alice, there are endless possibilities to engage in fun-driven activities and create your own virtual kingdom.

The full version of the game is yet to be released and the plan is to release it around Spring 2022, but it has already attracted the attention of players and crypto enthusiasts alike.

In short, My Neighbor Alice is the perfect game, designed to entertain and offer rewards; let’s hope for a higher token value over the long term.

Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.

writer

Deepan Datta

Content Writer

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