Animoca Brands Corporation Ltd's REVV token is listed on the Gemini crypto exchange for trading paired with the US Dollar (USD), Canadian Dollar (CAD), Euro (EUR), Sterling Pound (GBP), Australian Dollar (AUD), Singapore Dollar (SGD) and the Hong Kong Dollar (HKD).
REVV is an ERC-20 governance token compliant with the Ethereum network.
The primary use case for REVV tokens is as buy-in funds for play-to-earn racing games developed by Animoca Brands.
Gemini crypto exchange
Gemini is a New York trust company regulated by the New York State Department of Financial Services (NYSDFS) and is the first crypto exchange and custodian complaint of SOC 1 Type 2 and SOC 2 Type 2 reporting.
A SOC 1 report is for service organisations that impact or may impact their clients' financial reporting. A SOC 2 report is for service organisations that hold, store or process information of their clients, but is not significant to financial reporting.
The Gemini platform, founded in 2014 by Cameron and Tyler Winklevoss, allows users to buy, sell, store and earn cryptocurrencies such as bitcoin, ether and DeFi tokens.
Gemini is the first regulated US exchange to offer support for tokens like METIS, QRDO, REVV, JAM and ZBC.
These tokens aim to provide value to users as the exchange supports the growth of the decentralised finance ecosystem.
Gemini's innovative and secure products are designed to unlock the next era of financial, creative and personal freedom.
In April 2022, Gemini released the '2022 Global State of Crypto Report', which explored attitudes, drivers and adoption of crypto across the globe.
The report noted that 2021 was cryptocurrency's breakout year, especially in Australia, with inflation being a critical factor in adoption.
REVV token
REVV is employed as currency for Animoca Brands’ suite of play-to-earn racing games. These include MotoGP Ignition, Formula E: High Voltage and REVV Racing.
In an attempt to kickstart its REVV Motorsport franchise, Animoca Brands recently acquired French video game developer Eden Games to zoom towards building a blockchain-powered metaverse.
Animoca Brands has been advancing digital property rights for gaming and the metaverse.
REVV serves as the primary currency of utility, purchase and action across all REVV Motorsport blockchain games by Animoca Brands.
It is designed to enable true digital ownership of game assets, giving players control over their non-fungible tokens (NFT) in-game items across a growing metaverse of racing games.
Players can purchase a REVV racing car NFT using Matic tokens and then enter races on REVV’s website using REVV tokens.
Each race has a token buy-in, with the pool of tokens then allocated to the top-performing players.
Animoca Brands first listed REVV on Uniswap on September 4, 2020, and subsequently on various other exchanges including Hotbit, SushiSwap, Latoken, Hoo, KuCoin, Bithumb Global, Mexc, Bittrex, Bitmart, PancakeSwap, Quickswap, Okx, Aax and Huobi Global. It has now added Gemini to the list.
This January, Animoca Brands raised a new round of funding, the fourth since May 2021, raising US$358.88 million at a US$5 billion valuation, another endorsement of the pull of blockchain gaming.
With the new capital, the company will continue to invest in strategic acquisitions, product development and licences for popular intellectual properties.
Market researcher Newzoo reported the global video game market has generated US$180.3 billion in 2021.
Research firm Emergen Research has said the metaverse market is expected to reach around US$829 billion by 2028.
Through the use of blockchain and NFTs, Animoca Brands is working on building the open metaverse. The company is also an active investor in more than 150 global NFT and metaverse companies.
- Amrita Ghaswalla