Non-Fungible Tokens (NFTs), Decentralized Finance (DeFi), and the Metaverse are three of the hottest trending topics in the cryptocurrency ecosystem, and each is helping the world inch toward mass adoption of blockchain technology.
One project looking to capitalize on these trends is CEEK VR (CEEK), an entertainment and creator-focused platform that aims to use virtual worlds to connect music artists, athletes, and digital content creators with their fans.
Data of Markets Cointelegraph Pro Y TradingView shows that since trading at a low of $0.289 on March 15, CEEK price has gained 123% to reach a daily high of $0.646 on April 7 as its 24-hour trading volume increased by 178% at $90 million.
Three reasons for CEEK's price increase include its appearance in the giveaway hall at the Grammy Awards, deeper integration with BNB Smart Chain (BSC), and several new cryptocurrency exchange listings.
Great associations and a stand at the Grammys
CEEK hosted a booth in the giveaway hall at the 2022 Grammys and this may have brought a new level of exposure for the project as various influencers and music fans reportedly visited the pop-up.
Day 2 #Grammys Gift Lounge - Presenters, Artists and Nominees Experience #Virtual reality excited to bring more #music #Super stars in it #Metaverse #ceek #virtualconcerts pic.twitter.com/cQPU4YRMUh
- Ceek (@CEEK) April 1, 2022
The organization of the booth was made possible by CEEK VR's partnership with Universal Music, which gives the protocol the rights to live performances by many popular artists, including Lady Gaga, Bon Jovi, U2, Sting and Ziggy Marley.
The project is also associated with Meta Oculus, Apple, and Microsoft, which are three of the biggest names working on the development of virtual reality (VR) technology. In the future, this partnership could expand access to VR headsets beyond the protocol's native CEEK VR headset.
Integration with BNB Smart Chain
A second factor that helped bring more attention to CEEK has been its integration with the BNB Smart Chain ecosystem and the recent addition of cross-chain support in late 2021.
CEEK was originally launched on Ethereum (ETH) but the high cost of transacting on the network was hampering adoption, especially in terms of micropayments for use of streaming content, tracking, and artist payments.
Meet the 4th batch of projects that join the #MVBIV Incubation program!
Congratulations and welcome to @StarSharks_SSS @OfficialPearDAO @gat_network @subdao_network @Cosmic_Guild @hashflownetwork & @CEEK pic.twitter.com/UhSebUPP1W
โ BNB Chain (@BNBCHAIN) March 9, 2022
Since launching support for the BSC, CEEK has been selected for the BNB network's MBVIV Incubator Program, which provides the protocol with a series of incubation, mentoring and community support events.
New exchange listings
A third development supporting CEEK's rally is the new exchange listings on Huobi Global and KuCoin.
Huobi Global Will List $CEK on April 8, 2022@HuobiGlobal #CEEK #Metaverse
https://t.co/LI1YjTJftw pic.twitter.com/fsjs2Jt0ye- Ceek (@CEEK) April 6, 2022
While CEEK trading doesn't start until April 8 on both platforms, the announcements have caused a surge in demand for the token because users tend to hoard tokens ahead of any major exchange listings.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should do your own research when making a decision.
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