Non-fungible tokens (NFTs), decentralized finance (DeFi), and the metaverse are three of the hottest trending topics in the cryptocurrency ecosystem, and each is helping the world slowly move towards mass adoption of blockchain technology.
One project looking to capitalize on these trends is CEEK VR (CEEK), an entertainment and creator-focused platform that aims to use virtual worlds to connect music artists, athletes, and digital content creators with their fans.
Data from Cointelegraph Markets Pro and TradingView shows that CEEK’s price is up 123% from its low of $0.289 on March 15, hitting an intraday high of $0.646 on April 7, when its 24-hour trading volume fell 178% % rose to $90 million.
Three reasons for CEEK’s rising price are its presentation in the Gift Lounge at the Grammy Awards, deeper integration with the BNB Smart Chain (BSC), and several new cryptocurrency exchange listings.
Important partnerships and a booth at the Grammys
CEEK hosted a booth in the gift lounge at Grammy 2022 and this might have given the project new exposure as a number of influencers and music fans attended the pop-up.
day 2 #Grammy’s Gift Lounge – experience of presenters, artists and nominees #Virtual reality Excited to bring more #Music #superstars in the #metaverse #ceek #virtualconcerts pic.twitter.com/cQPU4YRMUh
— Ceek (@CEEK) April 1, 2022
Hosting the booth was made possible by CEEK VR’s partnership with Universal Music, which grants the protocol the rights to live performances for many popular artists, including Lady Gaga, Bon Jovi, U2, Sting and Ziggy Marley.
The project is also collaborating with Meta Oculus, Apple and Microsoft, three of the biggest names working on the development of virtual reality (VR) technology. In the future, this partnership could expand access to VR headsets beyond the protocol’s native CEEK VR headset.
Integration with BNB Smart Chain
A second factor that helped draw more attention to CEEK was its integration into the BNB Smart Chain ecosystem and the recent addition of cross-chain support in late 2021.
CEEK was originally launched on the Ethereum (ETH) network, but the high cost of conducting transactions on the network hampered adoption, particularly with regard to micropayments for streaming content usage, tracking, and artist payments.
Meet the 4th set of projects that follow this #MVBIV incubation program!
— BNB Chain (@BNBCHAIN) March 9, 2022
Since the start of support for the BSC, CEEK has been selected for the BNB chain’s MBVIV incubation programme, which provides the protocol with a range of incubation events, mentoring and community support.
A third development supporting CEEK’s rally is new listings on Huobi Global and KuCoin.
— Ceek (@CEEK) April 6, 2022
While trading in CEEK on both platforms does not start until April 8, the announcements have led to a surge in demand for the token as users tend to accumulate tokens ahead of a significant exchange listing.
The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should do your own research when making a decision.
https://cointelegraph.com/news/ceek-vr-gains-100-as-push-toward-virtual-reality-and-metaverse-development-intensifies CEEK VR gains 100%+ as push into Virtual Reality and Metaverse development intensifies