Crypto project Floki is targeting China in its latest push towards attracting more users while shunning its earlier meme coin image, developers told CoinDesk today.
Floki will release a Chinese version of Valhalla, a testnet metaverse game that utilizes FLOKI tokens, in the coming months alongside running a three-month airdrop campaign for users of Btok, a Chinese social media platform, developers said.
The game’s content and technical documents will be available in both traditional Chinese and simplified Chinese and is specifically targeted towards the Chinese gaming market, developers added.
The first major release of Valhalla with Open World went live in the fourth quarter of 2022. It is currently playable on the Optimism Goerli testnet. Once launched, users on the mainnet version would have to hold a certain amount of FLOKI in their wallet to make a character playable. Users will also be able to earn FLOKI tokens for battling.
Floki, fashioned after the popular Shiba Inu dog breed which has spurred popular tokens including dogecoin and shiba inu, has a market capitalization of $300 million as of Tuesday morning. The tokens are up over 150% in the past two weeks following a move to burn a significant part of FLOKI supply, as CoinDesk reported.
B, a pseudonymous Floki developer, told CoinDesk that there are an estimated 700 million gamers in China, a market that made an estimated $45 billion in video game revenue last year, two key statistics that favored a launch in China.
“The data strongly favors a Valhalla launch in China, especially looking at the massive number of gamers and the projected strength of this Chinese economy,” B explained.”This fact, combined with Valhalla’s novel gaming mechanics and PlayToEarn economy as well as key changes in positioning Floki and Valhalla to appeal to a Chinese audience.”
Gaming and metaverse tokens such as Gala, Decentraland and The Sandbox have posted gains of as much as 300% in the past month as crypto traders have increasingly shifted investments to tokens with actual users and utility.
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