Gensokishi, the Japanese web3 MMORPG based on the Nintendo and Playstation 4 game Elemental Knights, was up 26% in September amid a rebrand. The project has repositioned itself as the GENSO metaverse, with the game now being a part of a larger metaverse. The native token, MV, hit a low of $0.20 on Sept. 19 before soaring to $0.26 on Oct. 2.
The project had a successful closed beta earlier in the year and is ramping after the second beta launch on Sept. 30. Players will be able to convert mROND earned during the open beta into ROND at the end of the event. mROND is the in-game token, an off-chain token created to optimize game performance. The maximum mROND that can be withdrawn will be 700,000 mROND.
Further, the ROND token has been listed on Bybit, the first major exchange to list the token. A source familiar with the matter stated that it is a “milestone for us.”
CryptoSlate spoke to the GENSO team, who stated that the listing laid the foundation for the next stage of GENSO’s evolution.,
“The time has finally come to introduce the worldview we had originally planned. Gensokishi is not just a game. The game is only a part of the bigger picture – The Genso Metaworld.”
The concept of the GENSO metaverse is to bring “together the world’s leading IPs, brands, and worldviews from Japan and around the world,” according to the GENSO team.
Elemental Knights, the game upon which Gensokishi is based, has been in development for 14 years. A person familiar with the matter told CryptoSlate,
“The development company has been in the sector for over 20 years and therefore has connections with Japanese IPs throughout!”
Anticipation over whether a new IP may be announced as a part of the GENSO metaverse may be creating buy pressure for the token. The GENSO Discord has received the rebrand well with positive feedback and increased activity. No information regarding future partnerships has been released.