What is MyNeighborAlice? MyNeighborAlice is a blockchain project focused on users and investors interested in NFTs. In this article, you can find answers to questions such as what is MyNeighborAlice, what the project offers, how and where to buy ALICE coin, what are its advantages and disadvantages. As Kriptokoin.com, we have researched and compiled the subject for you.
What is MyNeighborAlice?
MyNeighborAlice is a blockchain project that offers its players secured NFTs and allows them to earn interest income. The project has a game called My Neighbor Alice, developed based on the Animal Crossing game.
The platform allows ALICE coin holders to trade NFTs inside the My Neighbor Alice game. In addition, the project also offers products such as buy back, decentralized finance (DeFi) services, leasing and staking. Built on the Ethereum blockchain, the platform has an ERC20 token called ALICE coin. The token works as the native cryptocurrency of the platform.
What is ALICE coin? What is it used for?
ALICE coin is the native cryptocurrency of MyNeighborAlice platform and game. It uses the ERC20 smart contract. The token can be used to purchase in-game digital items, empowering the user’s avatar in the game. In addition, the coin is used as a trading tool in all commercial activities such as virtual land, fruits, vegetables in the game.
As mentioned earlier, the project makes it possible to trade NFTs in-game. This NFT trade is also carried out with ALICE coin. In addition, the cryptocurrency has a stakeable structure and purchases and repurchases of DeFi products are also made with ALICE.
What are the advantages?
- ALICE coin holders can buy important items in the game, rent these items to other players and earn interest income.
- ALICE has coin staking feature. Users can lock their assets with a certain maturity and get additional rewards at maturity. This provides players with passive income.
- MyNeighborAlice users pay a very low transaction fee for exchanges and transfers.
- Access to the project listed on major exchanges is quite easy. This ease of accessibility increases the adoption and popularity of the project.
What are the disadvantages?
NFTs acquired in-game can be leased to other players who need these items, but this is a matter of demand and inherently risky. This can cause you to incur a high loss when there is no demand for the NFT owned and the item in question remains in your possession. ALICE coin also has the high volatility inherent in cryptocurrencies. High volatility means that the value of an asset fluctuates over a wider range, both in the bullish and bearish directions. Therefore, it can be considered a risky investment.
What is MyNeighborAlice? How to get ALICE coin?
ALICE coin is supported by crypto exchanges like Binance, Bithumb, Gate.io, Uniswap. Investors interested in the asset must first become a member of one of these exchanges. After that, they can purchase MyNeighborAlice (ALICE) tokens by depositing funds into their wallets.