- Beam crypto price has surged by more than 600% from its lowest point this year.
- Beam has partnered with Immmutable X and Polygon.
- It also partnered with Rogue Nation, a leading game developer.
Beam price has done well in the past few weeks as demand for the token rose. The coin jumped to a high of $0.026 on Thursday, its highest point since October. It has jumped by more than 680% from its all-time low, giving it a market cap of over $1.2 billion.
Beam is a relatively new cryptocurrency in the gaming industry. The token has come in the spotlight as the transition from Merit Circle (MC) continues. Merit Circle is migrating to Beam with a 1:100 conversion rate.
On Wednesday, members of the community voted against extending the token migration period from MC to BEAM from 12 months to 15 months. The proposer argued that the three-month delay will accommodate the concerns about the risks that the migration will bring. The proposal added that:
“A time-lock of the migration contract is proposed. That is, once these 15 months are over, the migration will close once and for all and won’t be able to be reopened. The time-lock will be implemented, if technically possible.”
Most members of the community voted against the proposal with a huge margin. 736 million BEAM votes rejected the proposal compared to over 266 million voters who agreed with the views.
Beam price has also jumped because of the recent partnerships. Earlier this month, Beam announced a major partnership with Immutable X and Polygon, one of the biggest layer-2 networks in the industry.
The partnership will see the three networks work more closely to enhance the gaming industry. For example, its Sphere platform will embrace Immutable’s zkEVM technology, which has superior speeds and low transaction costs. zkEVM is powered by Polygon. In a statement, the Robbie Ferguson of Immutable said:
“By embracing our technology, Merit Circle DAO, will help to further simplify game development and enhance the player experience. Gaming is bigger than music, movies, and TV combined. The potential is immense, and I can’t wait to see how our collaboration contributes to gaming for players”
By partnering with Polygon and Immutable X, Beam is in a good company. Immutable is set to become a key player in the GameFi industry since it powers some of the biggest games. Some of the games in the ecosystem are Illuvium Arena, Illuvium, Beyond, and Gods Unchained. It is used by companies like Ubisoft and GameStop.
The other important BEAM news was that Rogue Nation had embraced the technology. The developers are building their free-to-play mobile-first action game using its technology.
