Despite being a significantly small cryptocurrency network, Arweave (AR) is receiving much attention from investors and other crypto networks most in the previous weeks. Based on the data gathered by CoinMarketCap.com, Arweave went up high by over 50% in the previous week. It was able to receive 7% of its gain in one day. This noticeable rise in Arweave’s price for a single week could possibly be because of its connection with another popular cryptocurrency – Solana (SOL).
Solana (SOL) is built as a decentralized blockchain enabling user-friendly and scalable apps. It headlines because of an agreement that occurred with its network and with FTX. Traders for trading develops this cryptocurrency exchange for the use of other crypto traders. FTX provides an automated and clean transaction for users to gain leverage. Aside from FTX, Solana deals with Lightspeed Venture Partners. It is a venture capital firm engaging with cleantech markets, enterprises, consumers, and technology. Altogether, Solana, FTX, and Lightspeed Venture Partners are going to invest $100 million into networks or companies. These pursue to develop video games on the Solana blockchain.
As of the moment, a gaming studio known as Faraway uses $21 million. Fortunately, they receive a part of the $100 million funds from the three networks. People cannot deny how the video game developers rapidly consumes the fund.
Network deals and advancements
Because of these, Solana chose Arweave to take good care and manage their data storage needs. As Arweave provides decentralized data storage. Its purpose is different from Solana. However, it improves the services and products Solana provides to its users. Arweave’s service importance to Solana increases whenever Solana’s adoption also increases. And because of the $100 million funds allocated spent on video game development, people expects for more games built on Solana’s blockchain which is favorable for Arweave.
Crypto-gaming becomes more and more popular nowadays. It is good news for Arweave and for Solana that they adopt such a trend into their system network. Incorporating crypto games will encourage other users to invest in crypto markets as the cryptocurrency space is vast. There will be a lot of investment opportunities that users can choose from. It is best, however, that crypto users especially the new users be vigilant and learn more about the network they are interested in, study its price trend, and see its possible outcome in the next coming years.