KARRAT, the governance token of the KARRAT protocol, has surged over 40%, reaching an all-time high since its launch.
At the time of writing, the token was trading at $1.10, marking a 41% increase in the last 24 hours. The crypto assets trading volume also saw a significant rise, climbing by 600% to $32 million.
Launched on April 22 by the KARRAT Foundation in Camana Bay, Cayman Islands, the KARRAT Protocol is funded by KARRAT tokens, focusing on the gaming and AI sectors.
AMGI Studios, an independent animation and gaming company at the intersection of AI and gaming, is a key supporter of KARRAT and collaborates with major entities like Polygon and Delphi Digital.
KARRAT’s latest surge in value followed a June 4 announcement of a partnership between AMGI Studios and AI & Big Data powerhouse Palantir.
The partnership will see AMGI Studios utilize Palantir’s foundry architecture in its products and applications, marking a significant step forward for the KARRAT ecosystem.
— Karrat (@karratcoin) June 3, 2024First NVIDIA, now AMGI x Palantir
Founded by Peter Thiel, co founder of Paypal, Palantir is an AI & Big Data powerhouse. AMGI Studios is employing the Foundry architecture in products and applications.
AI, Gaming & Entertainment $KARRAT pic.twitter.com/JIBV77CdVz
In another notable development, AMGI Studios announced a collaboration with AI leader Nvidia on May 23. The partnership is expected to further enhance the integration of advanced AI technologies within the KARRAT ecosystem.
In a May 3 X post, an X user @CryptoGodJohn suggested that KARRAT has the potential to become as influential as SAND and MANA in the gaming coin market, potentially reaching a fully diluted valuation of over $10 billion.
KARRAT has already secured listings on major crypto exchanges, including Coinbase, Gate, and KuCoin, enhancing its accessibility and trading potential.
Earlier in February, KARRAT Protocol revealed the launch of its first web3 game, ‘My Pet Hooligan,’ a social-action game available in early access on the EPIC Games platform.
The AAA game, the flagship IP of AMGI Studios, features advanced motion capture technology, AI-driven characters, and real-time face-driven animation. It allows players to embody NFTs in-game using the KARRAT protocol.
The web3 game has already gained recognition, winning the Best Action Game award at the GAM3S.GG Awards in December 2023.