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What exactly is Floki Inu (FLOKI)? Everything You Should Know About the Popular Memecoin



Floki Inu (FLOKI) is another meme-themed coin, this one inspired by Shiba Inus, and more specifically, Elon Musk’s choice of the name Floki for his dog.

In 2021, dog-coins became one of the most strange yet fascinating trends in the crypto market. The spectacular rise of the meme-inspired cryptocurrency Dogecoin (DOGE) motivated other developers to build plenty of dog-themed coins in the hopes of following in the footsteps of its forefather.

While many of these projects fail to gain popularity, some, such as Shiba Inu (SHIB), have taken the market by storm and have even outperformed DOGE in the top ten cryptocurrencies by market cap.

However, approximately five months ago, Floki Inu (ticker: FLOKI), a dog-themed cryptocurrency, appeared, intending to dethrone both SHIB and DOGE and claim the title of most popular memecoin on the market.

Since its introduction, Floki Inu has been making waves as investors attempt to get in as soon as possible.

What exactly is the Floki Inu (FLOKI)?

In the crypto market, Floki Inu has become one of the most popular dog copycat coins. Elon Musk, the millionaire CEO of the electric car company Tesla, was the inspiration for it. The memecoin was established by an unnamed group of developers who were passionate Shiba Inu fans and members.

Both the Ethereum blockchain and the Binance Smart Chain (BSC) network are used in the project. It has goals that it plans to fulfill with the help of the “Floki Vikings,” a large community. As we mentioned in our piece about the reasons for the Shiba Inu’s dramatic rise, a strong community can be a valuable asset to a project’s success.

The Origins of FLOKI

The concept for FLOKI was born on June 25, 2021, when Elon Musk announced that he would be adopting a Shiba Inu puppy and that it would be named Floki.

No one expected Musk’s statement that day to lead to the creation of a new pupcoin with the same name as the Tesla CEO’s upcoming dog.

The company behind Floki Inu jumped into action right away, capitalizing on Musk’s power over memecoin price movements to launch a new dog-themed token. FLOKI was already trading in the market when Elon Musk revealed that his family had finally adopted the puppy on September 12th.

What sets FLOKI apart from DOGE and SHIB?

Despite being a new crypto project, Floki Inu claims to be a DOGE and SHIB killer, with the goal of becoming one of the top ten crypto projects in the market and kicking off the next crypto revolution.

It plans to move beyond the memecoin story and become something more, including a native marketplace called “FlokiPlace.” FLOKI wants to connect its quickly growing user base and the project’s utility.

FLOKI promises to be concentrating on increasing its utility and developing a useful platform while also forming a close-knit community of token holders who are rewarded for staking their tokens.

The project is currently working on three main utilities that it hopes will be of great interest to investors: an NFT gaming metaverse, an NFT and merchandise marketplace, and an education platform.

FLOKI’s Services

Let’s take a closer look at the three things that Floki Inu has to offer.

Valhalla the NFT Gaming Metaverse

Floki is creating Valhalla, a non-fungible token (NFT) gaming metaverse with a play-to-earn business model, on-chain game interactions, and upgradeable NFTs.

The product is still in development and is expected to hit the market in 2022. The FLOKI token will be used to power the metaverse.

Valhalla is already generating a lot of excitement among NFT players and Floki owners.

FlokiPlace, a marketplace for NFT and merchandise.

Floki Inu claims to be working on a fully functional crypto commerce platform that would allow users to trade various items, collectibles, and NFT utilizing FLOKI as the primary currency.

Before the end of 2021, the digital marketplace is planned to go live.

Floki Inuversity, a content education platform.

According to the Floki Inu team, they are focused on creating a de-facto platform for everyone interested in learning more about cryptocurrencies.

They want to turn the Floki Inuversity into a platform with the largest database of crypto content, which anyone on the internet may access by paying with FLOKI.

Floki’s crew is actively participating in the company’s worldwide marketing campaign, with multiple advertising strategically positioned in various countries across the world.

The project’s commercials, for example, are already running on the London Underground and 300 London buses, with the message “Missed DOGE?” “Get $FLOKI,” 

Where can I get FLOKI?

According to CoinGecko, the decentralized exchanges Unisawp and PancakeSwap, as well as the centralized exchanges and MEXC Global, are the main marketplaces for FLOKI by trading volume.

ATTENTION: There are other tokens with the same name and ticker as FLOKI, so be cautious. Make sure you’re getting the real thing. To be sure you’re investing in the legitimate cryptocurrency, visit trusted sources like CoinGecko and CoinMarketCap.

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What Exactly Is Arbitrum?



Ethereum is a well-known platform for creating decentralized applications (DApps). However, due to a rapid increase of its users in recent years, the network has been pushed to its ultimate limits, causing transaction costs to skyrocket and widespread congestion.
Some believe that on-chain changes and improvements are the best approach to expand Ethereum, however, others are opting for second layer alternatives.

Although they differ widely in terms of appearance and purpose, one such option, known as Arbitrum, has begun to gain attention.

What Is Arbitrum?

It is one of the layer 2 solutions that enhances the capabilities of Ethereum smart contracts by increasing their speed and scalability while also providing extra privacy features.
The platform is meant to make it simple for developers to run unmodified Ethereum Virtual Machine (EVM) contracts and Ethereum transactions on a second layer and at the same time taking use of Ethereum’s superior layer 1 security.

It’s designed to address some of the current Ethereum-based smart contract’s problems, such as inefficiency and high execution costs, which have harmed the Ethereum experience for users and frequently make transactions costly.

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NFT Gas Prices: What Are They? Getting To Know Ethereum, Gas, And Gwei



What exactly is ETH Gas?

The Ethereum network uses the Gwei as a unit of gas. Miners need gas to process transactions, which is one of the main differences that seperates Ethereum from other cryptocurrencies such as Bitcoin.

“How much gas you’ll need depends on the size of the contract you’re aiming to complete and how quickly you want to complete it.” The price usually reduces if you’re patient enough to wait for a transaction to finish. Both NFT art makers and collectors benefit from understanding this idea.

If we want to have a look at the technical side, Ethereum’s native currency, ether (ETH), is used to pay gas fees. Gas costs are expressed in Gwei, which is an ETH denomination — one Gwei equals 0.000000001 ETH (10-9 ETH). Instead of claiming that your gas costs 0.000000001 Ether, you may say that it costs 1 Gwei.

Why is there Gas?

The gas in Ethereum is a crucial regulator that prohibits spamming the network. All Ethereum computations push the security measure to its limit. Gas limits, which are paid for with each computational execution, have the mission to ensure that bad individuals do not exploit unsorted amounts of processing power to become de-facto coders on the Ethereum network and corrupt the future they worked hard for creating.

Why Gas is so important for NFT arts and artists?

Gas has two sides to it. When gas costs are rising, it is difficult for uprising artists to generate, mint, and even purchase other works. Some artists try to include the cost of gas into their paintings (which indicates that they are ready to lower the cost of their art, to make their art easier to buy.) This creates a catch-22 because the art’s perceived “worth” is reduced when collectors are deciding whether or not to spend 25-57 percent of the overall purchase price on gas. Artists aiming to build a reputation for themselves face a difficult situation in this regard. On the other hand, artists might overcharge while selling their work (paying higher marketplace and gas costs) in order to get their work published before they have built a reputation for themselves to be able to charge that much.

Overwhelming and Absurd NFT Gas Cases

We’ve seen gas costs exceed the cost of a piece of art being created in some cases, leaving artist in a very difficult situation to put their work online. Actually, making it impossible for the artist.

Solutions for NFT Gas

Allow the NFT Artists to have more power when their work is minted. Many marketplaces only let artists to create something at the very moment they click mint. Artists should be able to choose how long they want to wait for network congestion to clear before publishing. This is already implemented in NFTGateway (As far as I know). The painting isn’t minted until it has been bought during a drop. The art might not appear in wallets instantly, the transaction might take 24 hours. While we haven’t experienced such a long wait, we have seen up to two-hour waits for costly drops expectations.

The User receives back any unused gas

Finally, it’s essential to emphasize that not all transactions use the total gas supply. This should be better stated, and we’ll need to undertake further studies to find out what proportion of gas is returned on average. However, you’re essentially accepting to a maximum amount of gas fees that you’ll pay to complete the deal.


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What is Play-To-Earn (Play2Earn) All About? Begginer’s Guide



The play-to-earn business model promotes the idea of an open economy by rewarding players who contribute to the metaverse’s value.

Play-To-Earn (Play2Earn) games are a type of gaming in which a platform allows players to earn any type of in-game property that can be transferred to the real world assets that has value like money.

Play-to-Earn Crypto Gaming: Begginer’s Guide

Video game business models have evolved to a whole new level as technology has become more widely accessible to the public. Before, people were able to play games only in certain gaming areas on arcade machines. With a bag full of quarters, gamers would compete for the highest score. But, as technology advanced, games were introduced to our smartphones, PCs, and gaming consoles such as the PS5, Xbox, and others.

What Is Play-to-Earn Gaming?

In the blockchain ecosystem, a new game paradigm known as play2earn is currently being seen around the world. It effectively allows participants to profit from their participation in games. By participating in the in-game ecosystem and earning assets for their contributions, players create value for other gamers and developers. Coins and accessories that have been tokenized on the blockchain are examples of digital assets. As a result, blockchain games and the play-to-earn business model support each other effectively.

Play to Earn Games

Axie Infinity is an excellent example of a play2earn game. Axies are charming animals that players buy, breed, and combat for rewards in this game. Each Axie is a non-fungible token (NFT), which means it’s a unique digital collectible. There is an entire economy within the game (There is a world known as Lunacia).

Users can use their in-game tokens, Smooth Love Potion (SLP), and Axie Infinity Shards (AXS) to buy land and breed Axies in Lunacia. In addition, these tokens are not just useful in the game, they are also useful in real life.

Play-to-earn games, such as Axie Infinity (AXS), are already assisting people all over the world (particularly those who live in countries affected by the current pandemic severely) earning a significant amount of money. People in the Philippines are making $1,500 to $2,000 per month playing Axie Infinity as a hobby, according to estimates. A good number of  people in Vietnam have also given up their full-time jobs as a result of these games, which pay well.

Lost Relics, Splinterlands, CryptoBlades, DogemonGo, and Sorare are some of the other NFT games.

In 2021, the NFT market will have topped $2.5 billion in revenues, and this figure is expected to rise rapidly as new NFT games hit the market. The rise of NFT is leading to a new era of revenue streams in the blockchain world, and it won’t be long before it overtakes every other major business.

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Disclaimer: ATHCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.