After Lionel Messi’s partnership with RWA, volatility hit PLANET Talk
Crypto token PLANET is having a volatile week as traders flock to use the first tokenized product in collaboration with football legend Lionel Messi in the upcoming release.
According to data from crypto aggregator CoinCodex, the token's volatility was On February 21, it reached 6.82%, which is considered high in a method that expresses high volatility in the range of 5% to 10%.
Planet's price peaked at $0.00011 on February 19, garnering more than $23.5 million in trades within 24 hours of Argentina's Messi announcing the launch of a tokenized product in partnership with Planet, the local non-profit organization behind Planet Token.
At the time of this writing, PLANET is trading at $0.00009, a sudden uptick during the week. The token has gained 17.9% in the last seven days.
Tokenization of real-world assets (RWA) refers to the process of converting rights to physical or traditional financial assets into digital tokens on the blockchain. Although it is not yet clear which assets the initiative will tokenize with Macy's, joint assets being tokenized include real estate, art and commodities. RWA starts on March 1.
The Planet Project first announced its partnership with Messi in July 2023, with a video showcasing the athlete's commitment to environmental sustainability and pollution prevention using blockchain technology.
Lionel Messi has officially announced the launch of the much-awaited RWA on March 1, 2024. Be the first to pre-sale on the $PLANET website. #PLANET, a native of joining the planet's ecosystem, offers unparalleled benefits from this RWA launch. . Don't… pic.twitter.com/zpn4ryDOO9
— Planet (@PlanetReFi) February 19, 2024
Planet's strategy focuses on offering more products at lower prices to attract more customers with a business model inspired by Amazon's flywheel. According to the project website, it seeks to use RWA collections to fund Decentralized Autonomous Organizations (DAOs) working on social and sustainability challenges in line with the United Nations Sustainable Development Goals.
“Our goal is $100 million in annual revenue,” Planet's website says.
Messi has been involved in the Web3 space for some time. In the year In 2022, the player became the official ambassador in cooperation with the crypto exchange Bitget.
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