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Despite only launching on PancakeSwap on December 6th, HUH Token has already experienced quite a frenzy. From an exciting pre-sale strategy to scam allegations that were quickly rebutted, the HUH token's price jumped to 6000% within a few weeks and now has over 15,000 wallet holders. Needless to say, HUH is definitely one of the most innovative altcoins that just come onto the market.
Coining the term 'uti-meme', HUH's success can be credited to combining the hype of meme coins with the practicality of utility tokens. Perhaps this is why they've allegedly partnered with hundreds of social media influencers, who will start promoting HUH on January 19th and probably send its price skyrocketing again. No wonder NAGA, boasting a $310 million market cap and is publicly listed on the Frankfurt Stock Exchange, recently made public the upcoming launch of their social trading platform, NAGAX, which bears striking resemble HUH Token.
Just take a look for yourself:
Through the establishment of a social network dubbed the MetHUH, HUH will create a whole ecosystem around the HUH token to give it true usability and utility. Social influencers will be able to communicate with each other and companies that want to cooperate with them without the need for an intermediary in the MetHUH. In addition, the MetHUH will host an NFT social media marketplace where users may bid, auction, and buy NFTs from their favorite social influencers. Social influencers will be able to make NFTs from their own content or media, establish their own price, and then auction these NFTs on the MetHUH. Users can buy, collect, and resell these NFTs within the MetHUH.
Social influencers have their own communities and followings, and the content they provide on social media platforms receives likes and comments from their followers. These figures will be used by HUH to generate "Influence Points." This is a number that will be assigned to each social influencer on the MetHUH and used to calculate their NFT value. Their NFT will gain a higher value if their Influence Points are higher. When interacting within the MetHUH, this allows users to quickly understand the significance of a social influencer's NFT.
Blockchain technology, which creates property rights on digital properties, is used to mint the NFTs. When a user chooses to buy an influencer's NFT, their HUH Tokens are used to mint the NFT. HUH, Tokens are used to facilitate each buy and sell of these NFTs in the marketplace. This increases the volume and number of HUH Tokens reflected in the community.
Sentiment tokens can be generated separately within the MetHUH based on content and engagement by influencers and individuals. These tokens will be exchanged for HUH, with a higher reward for Sentiment, resulting in a more active community, as well as making the social media universe a safer and friendlier place for all.
Although little information has been released yet, the platform is supposed to launch this year and a crypto wallet, an NFT platform, a staking platform, a spot exchange with about 700 traded assets, and a futures and derivatives exchange will all be included.
AGAX intends to provide a 'unique Web3 social trading experience', in which user-generated content on the platform is converted into NFTS which are monetizable. Any user with an Ethereum-based wallet can immediately access the content. Each piece of material is thus tokenized and may be traded as an NFT, according to NAGA CEO, Benjamin Bilski. NAGAX aims to provide traders with content that is derived from a range of sources and incorporates a revenue stream for crypto influencers.
NAGA appears confident and aspirational following their announcement of NAGAX. It's time to see whether NAGAX can attain the same figures as HUH, the first uti-meme.
Website: https://huh.social
HUH Official Swap- https://swap.huh.social/
Telegram: https://t.me/HUHTOKEN
Twitter: https://twitter.com/HuhToken
Instagram: https://www.instagram.com/huhToken/
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
