•KLAY is the native token of Klaytn, a hybrid blockchain network developed by GroundX.
•Klaytn recently announced a partnership with Animal Concerts that has pumped its token’s price.
•The partnership is part of Klaytn’s global expansion plan to enter the Korean industry and increase the number of NFTs traded on its platform.
What is KLAY?
KLAY is the native token of Klaytn, a hybrid blockchain network developed by GroundX. Klaytn brings together the benefits of public and private blockchains, offering a tailored user-friendly blockchain infrastructure for corporate use cases. It can process over 4,000 transactions per second at lower gas fees than Ethereum, as well as offer high interoperability. The KLAY token can be used to create and run applications on the platform, as well as to reward developers who report bugs or help in its growth.
Klaytn’s Partnership with Animal Concerts
Klaytn recently announced a partnership with Animal Concerts, a US-based Metaverse concert organizer, to set up a K-pop universe in the Metaverse. This move is part of Klaytn’s global expansion plan to increase its exposure to the Korean industry and boost its number of NFTs traded on its platform. As a result of this news, KLAY’s price has surged by more than 50% in just one week and continues to show more optimism.
Advantages Of KLAY
KLAY offers various advantages such as faster transaction speed compared to other popular blockchains like Ethereum; lower gas fees; high interoperability that helps developers host their custom blockchain applications easily; and rewards for developers when they report bugs or help in its growth.
Impact Of The Partnership
The partnership between Klaytn and Animal Concerts has already had an impact on KLAY’s price, which surged by over 50% within just one week after it was announced. This shows investors‘ optimism towards this project and signals that there may be further appreciation in value if there are more partnerships or developments made in relation to this cryptocurrency.
In conclusion, KLAY is an exciting cryptocurrency that offers numerous advantages due to its hybrid blockchain network developed by GroundX. Its recent partnership with Animal Concerts has had immediate impacts on its price appreciation over the week which signals good prospects for investors looking into investing in this cryptocurrency going forward..