Big Time, a blockchain-based multiplayer game, has seen its in-game currency, BIGTIME, surge by over 265% in its debut week of trading. The token was launched on major exchanges such as OKX and Coinbase last Wednesday and reached a high of $0.35 on Friday.
BIGTIME’s impressive performance contrasts with the sluggish growth of the broader cryptocurrency market, which declined by 2.7% in the last 24 hours. The token’s demand is driven by the game’s popularity and its innovative features. Since Its all-time high on its debut, the token has since traded hands at $0.2580, according to data from CoinMarketCap.
Big Time has Entered the Crypto Market with a Bang
Big Time is a game that allows players to explore different historical periods and create their own cosmetics and non-fungible tokens (NFTs). To craft these items, players need to acquire SPACE, a virtual land that contains essential utility NFTs such as Armory, Forge, and Time Warden.
The Time Wardens are unique workshops where players can create, enhance, and rejuvenate hourglasses, which are valuable NFTs that reward players with BIGTIME tokens. The tokens can also be earned through in-game drops, but only if players equip themselves with hourglass collectibles.
BIGTIME tokens have multiple uses within the game, such as crafting Forge and Armory, accessing prestige portals, and trading with other players. The token has a total supply of five billion, but only 5% of it has been distributed to players through airdrops and is currently in circulation.
Some analysts have expressed skepticism about the sustainability of the token’s price rally, citing the artificial scarcity created by the limited supply. They warn that this could lead to a significant sell-off early in the game’s lifecycle, which could damage the game’s reputation and user base.
Additionally, there is uncertainty about the exact market cap of the token, as the fully diluted valuation (FDV) stands at $1.2 billion, while the market cap is much lower at around $40 million. This discrepancy could indicate a high inflation rate or a low demand for the token in the future.