Coinbase Launches Full Retail Support for Ethereum-Based Altcoin Project, Igniting Unexpected Price Spike

Leading US crypto exchange platform Coinbase has launched full retail support for a new gaming altcoin after it met the exchange’s liquidity conditions.

In a recent tweet, the crypto exchange giant says that multiplayer game My Neighbor Alice (ALICE) is now live on Coinbase and that the asset can be fully bought, sold, or converted.

My Neighbor Alice is an Ethereum-based play-to-earn metaverse game where players can invest in virtual islands by staking coins. Much like marquee metaverse games such as Decentraland (MANA) and The Sandbox (SAND), users can explore and upgrade their plots of land, which are scarce in nature and represented in the form of non-fungible tokens (NFTs).

The game’s native currency, ALICE, serves many roles within the ecosystem. It grants holders the ability to participate in the protocol’s governance system via a decentralized autonomous organization (DAO) and provides the means to purchase in-game gear and collectibles, such as the islands themselves as well as houses, animals, plants, fences, and other decorative items.

In the future, the game intends to feature a reputation system that rewards players who are considered good landowners, according to the ALICE’s website.

News of the launch sent My Neighbor Alice skyrocketing. The token is exchanging hands at $7.30 at time of writing, a 12% increase during the last 24 hours. However, ALICE is trading down a staggering 73% from its all-time high of $26.97 set back in November of 2021.

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Featured Image: Shutterstock/studiostoks

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