The price of Prom (PROM) has seen massive growth over the last day, surging 36.85% to $13.28 at the time of writing. This surge comes on the back of two large investments in the NFT gaming marketplace totaling $1.5 million.
Prom provides a decentralized platform for gaming NFTs and metaverse assets, allowing players, collectors, and game creators to connect. The recent investments signal strong confidence in Prom’s solutions for Web3 gaming.
According to on-chain data analytics firm Spotonchain, on February 14th, Andrei Grachev, the head of venture capital firm DWF Labs, purchased $500,000 worth of PROM tokens. Just yesterday, DWF Labs itself invested $1 million, buying 111,000 PROM at $9 per token.
DWF Labs’ Investments and Partnership Announcement
DWF Labs shared news of this “significant milestone” on X, explaining that the partnership marked a fusion of expertise between themselves and Prom. Besides bringing deep knowledge of digital assets, DWF Labs expects its investment will help “revolutionize the gaming world”.
Significantly, Prom’s token surged 75% previously following investment from Grachev. Hence, the market is now reacting positively to this latest vote of confidence.
Prom aims to establish standards for security, privacy, and usability in Web3 gaming. Additionally, features like NFT rentals and in-game incentives give game creators ways to monetize while keeping players happy.
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Show more +Consequently, Prom’s solutions address pressing needs for the continued growth of blockchain gaming. With powerful backing from investors like DWF Labs, Prom now looks set to deliver on its goal of spearheading innovation across this rapidly expanding sector.
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