Impossible Exchangeable Tokens (NFTs) continue to take over the world, as evidenced by the March 16 announcement that Sotheby’s will participate in the NFT game, facilitating the sale of symbolic art by an unknown artist known as “Buck.”
The latest cryptocurrency project to receive support from NFT-related activities is Everipedia (IQ), a blockchain encyclopedia that has a vision of creating a “world where all knowledge is available to all people.”
The Everipedia ecosystem also includes PredIQt, a decentralized knowledge base and DeFi platform that includes a prediction market where users can predict future market events and earn cryptocurrencies for successful predictions.
Data from Cointelegraph Markets and TradingView show that the IQ price has risen 400% over the last week, from a low of $ 0.00781 on March 8 to a high of $ 0.039 on March 16, the highest price of more than two years.
Everipedia itself is a next-generation encyclopedia that has been redesigned for modern times, and the project has already become the largest English-language encyclopedia in the world in terms of content in just a few years.
NFT’s work draws attention to Everipedia
Preparations for the price increase began on Tuesday, March 3, when the Associated Press announced that it would participate in an NFT auction, co-created with Everipedia, using data published by AP on Ethereum using Everipedia’s OraQle technology.
Following an initial increase in trading volume following the announcement, IQ’s actions retreated to the end of the March 10 auction, where a 100 Ether game was won, which was approximately $ 180,000 at the time of the bid.
As part of a tweet announcing the winning bid, the Associated Press said: “Stay tuned for further NFT collaboration between AP and Everipedia!” Shortly after this announcement, IQ trading volume increased from $ 3 million to start a new boom in trading volume, which rose from $ 3 million to $ 252 million.
It remains to be seen what the Everipedia team has prepared to capitalize on their new interest, but developments related to NFT and decentralized economics show that the project understands the value and client application of two of the key trends in the cryptocurrency sector.