WATCoin pumped over 40% following Animoca brands’ investment plans

The Telegram mini app Watbird’s coin, WATcoin price increased by over 40% to 0.000398 USD in the last 24 hours. It got a boost from Animoca Brands with a market cap currently at about $17M and a traded volume of $1M

Previously the rates for WATCoin had been descending over 85% in the last 24 days. But the situation changed just as Animoca Brands made an announcement today regarding the token. The blockchain company shared its plan to invest in more WAT tokens from the open market in order to support the project.

It is also worth noting that it was Animoca Brands’ subsidiary company GAMEE which developed the WatBird Telegram Mini app. As Animoca is the big investor in Telegram-backed Toncoin, the investment in $WAT  is aligned with the company’s support for the TON ecosystem.

“Through the token purchase, Animoca Brands reinforces its commitment to WatBird’s role in supporting the broader TON ecosystem” – Animoca Brands

However, the company did not go into specifics regarding the purchase of WAT tokens in its announcement.

 WATCoin and WatBird have become prominent in the Toncoin Ecosystem

The holders of the WAT token can use it in many ways within the app, Watbird. The top of these use cases is that WAT tokens work proportionally with the rank in the app. As a result, higher ranks mean more perks, airdrops, and overall premium access.

Furthermore, holders can also use $WAT to buy limited collectibles enabling their customization. Therefore, WAT holder can obtain game perks with higher levels as well as increase their status.

https://twitter.com/WatBird/status/1846822514132930704

Recently many users have joined the WatBird X account which is nearly hitting 1 million followers. On the other hand, the Telegram account of WatBird carries more than 4.4 million subscribers.

WatBird protocol is backed by influential Web 3 investors. Simultaneously it is led by Binance Labs, Ton Foundation, The Sandbox, Mocaverse, and Animoca Brands. The mini-app has shown rapid growth recently.

It also consists of community members invested in NFT mining, and token staking which has set the WatBird platform standout among its competitors.