Though the market doesn’t look substantial in the past few days Ethereum Classic (ETC) has performed well as compared to the rest of the market. The digital asset is well prepared to transform itself into much rational crypto, as the main will be based on decentralization.
So, as Ethereum Classic moves on with different developments and ETC Labs have recently collaborated with VREX Labs. VREX attraction towards Ethereum Classic was due to its potential and the measures that ETCDEV and ETC Labs core teams took.
The main reason is the immutability and decentralization of ETC and that is why VREX Labs have turned to ETC for its support. The VREX team expressed that how they met Ethereum Classic team member Liz Kukka in the Silicon Valley during a conference. The co-founder of VREX Labs, Rudy presented the concept of Dyverse to Kukka. This meeting turned into a potential partnership. The VREX Labs are pleased with the way ETC Labs have assisted them in strategic and marketing expertise.
The concept of Dyverse is that it is a marketplace for virtual beings known as Kydys. The Dyverse platform connects non-fungible tokens to the AR assets. The basic aim of VREX Labs is to utilize AR and VR for users to communicate with the assets. This network would provide a uniform and transparent service to its users. This idea of VREX has been admired by the Ethereum Classic team and it is there to help the team of VREX Labs.
The VREX team came up with this idea of planning to develop Dyverse as their interest in blockchain technology increased. So, they wanted to insert augmented reality into the blockchain. The members of VREX explained that as they released the Dyverse market in the middle of January 2019, they were positioned at number 2 NFT Dapp in the world.
So, in overall regard, this is a good partnership for the VREX Labs and Ethereum Classic (ETC). Both the firms will work together to improve this technology and if it attracts user’s attention than it would be a great success for VREX but on the other hand it would also help ETC Labs to get back on track.
At the time of press, Ethereum Classic (ETC) was trading in a downward trend, despite its decent show last week it is having the effects of the bear market. Recently, a former business devolvement manager at the ETCDEV, Donald McIntyre in an interview said that ETC is not a valuable network, except for experimenting. Well, we would have to wait and see what has Ethereum Classic to offer in the future, but it for sure has some potential.
Currently, it was trading at 18th spot with a market cap of $445 million. If we look at the volume stats which shows that ETC is being used for trading in huge numbers when compared with most altcoins, it’s trading volume is $204 million. So, if Ethereum Classic (ETC) develops a good shape and the ETC Labs grow up rapidly then its volume could go further up and ultimately, it would improve its market position, and if this happens the McIntyre’s thoughts would be rejected.