KARRAT, the governing token of the KARRAT protocol, has experienced a remarkable surge of over 40%, reaching an all-time high since its inception.
As of the time of writing, the token was being traded at $1.10, representing a 41% increase in the last 24 hours. The trading volume of this crypto asset also witnessed a substantial uptick, soaring by 600% to $32 million.
The KARRAT Protocol was launched on April 22 by the KARRAT Foundation in Camana Bay, Cayman Islands. This innovative protocol is financed by KARRAT tokens and is primarily focused on the gaming and AI sectors.
AMGI Studios, an independent animation and gaming company positioned at the intersection of AI and gaming, is a major supporter of KARRAT. They have established collaborations with prominent entities such as Polygon and Delphi Digital.
The recent surge in the value of KARRAT followed an announcement on June 4 about a partnership between AMGI Studios and the AI & Big Data giant Palantir. This partnership will involve the utilization of Palantir’s foundry architecture in the products and applications of AMGI Studios, representing a significant advancement for the KARRAT ecosystem.
Furthermore, AMGI Studios also disclosed a collaboration with the AI leader Nvidia on May 23. This partnership is anticipated to further enhance the integration of advanced AI technologies within the KARRAT ecosystem.
In a notable post on May 3, a user @CryptoGodJohn suggested that KARRAT has the potential to rival coins like SAND and MANA in the gaming market, with a projected fully diluted valuation exceeding $10 billion.
KARRAT has already secured listings on major cryptocurrency exchanges, including Coinbase, Gate, and KuCoin, which has expanded its accessibility and trading opportunities.
In an earlier development in February, KARRAT Protocol unveiled the launch of its first web3 game, ‘My Pet Hooligan,’ a social-action game that is currently available in early access on the EPIC Games platform.
This AAA game, the flagship IP of AMGI Studios, boasts advanced motion capture technology, AI-driven characters, and real-time face-driven animation. Players can embody NFTs in-game using the KARRAT protocol.
The web3 game has already garnered recognition, winning the Best Action Game award at the GAM3S.GG Awards in December 2023.