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Red Coin

Everything You Need To Know About RED Coin

RED Coin is a coin that came out in January 2018, right before the crash of ICOs. After a pretty successful initial coin offering (ICO), many people have forgotten about this cryptocurrency, but it still exists. This includes the Coin’s purpose, present price, market capitalization, and whether or not it’s a good investment.

Reddcoin Price

Is Red Coin a good Investment?

AVFX Trading HUB technical analysis reveals that RED Coin is literally a good investment opportunity at the moment based on the direction it is moving. However, this information is for informational purposes only, and not financial advice. Traders need to do their own thorough analysis before attempting to invest.

RDD to USDT Chart

Reddcoin Price Chart (RDD)
Source: Coin Gecko (RDD to USD Price Chart)

Reddcoin

What is a RED Coin?

In the RED community, RED Coin is a type of useful Coin that can be used as a tipping tool. A RED coin could be given as a tip to a worker who helped with an open-source project. Or, someone could get a tip if they add a file to the blockchain. Sadly, these big plans to build a strong community around RED Coin never worked out. For those who don’t know, a utility coin isn’t very useful if the group it’s used for isn’t well-known.

 

 

How does it all work?

Features of Communication

  • Club House: Creators make their places for clubhouses, and fans can join by buying admission NFTs. It will be a private place for the community to talk, hold exclusive events, sell goods, and do other things. This isn’t just a one-way way for creators and fans to talk to each other like in the past. It’s also an engaging community service that uses the metaverse and lets creators and fans work together to build and run a clubhouse, meet an unknown number of fans, etc.
  • XR: In the metaverse, XR events like to happen at RED SKY STADIUM.
  • NFT Gallery: XR events where people can show records of their work and other activities.
    Games: XR events with play-to-earn games that allow users to stay longer and have fun.

 

Market Attributes

  • Ticket: A booking system that uses blockchain/NFT technology to stop fake tickets from being sold again and to make it easy for anyone to give out digital tickets for events.
  • EC: Live commerce: Besides the normal features of EC, live commerce that uses the metaverse will give artists new ways to sell their work.
  • NFT Marketplace: An online marketplace where creators may sell their works. NFTs like memberships and things for your character can be shown and sold.
  • NFT Auction: NFT sales can also be linked to deals in the real world.
 

Supporting Factors?

  • Quest Marketing: Use quest marketing that gives out coins to get more fans.
  • TOKEN GRAPH Marketing: Use the TOKEN GRAPH to find people who like the same things and have similar tastes.
  • Fan Rank: Back loyalty marketing based on the TOKEN GRAPH, which shows the ranks of fans.
  • NFT AI Reaction Tool: This AI tool makes it easy for anyone to make NFT collections. Change the frequency by setting the times each shape and color will appear.
  • Balance Management: A screen for business intelligence that automatically adds up income and expenses, making it easier to plan ways to boost sales and do budgeting.
  • Investor Matching: Putting together makers who need money and investors who want to make money makes a win-win situation for both sides.
  • Sponsored: Provides a way to make money by putting ads in places that only exist in the metaverse.

 

The RED Coin Ecosystem

RED Squad

It is a brand-new transmedia product that brings to life on the RED platform the fun spirit of Japan. Ryoichi Wada makes RED SQUAD. He also made the cartoon show NINJAMASX and wrote the original story for One Cut of the Dead.

 

RED SQUAD is based on the Japanese fairy tale Princess Kaguya. It is about a war on the moon between the people living there and an army of giants trying to take over. Five heroes on the RED SQUAD must go to Earth to get the power they require to end the war and preserve their planet.

 

RED Metaverse

The RED Metaverse will be one of the most important parts of the RED platform in the future. Tokyo eSports Gateway is working with JP Games, a company that has a lot of experience making virtual worlds, to make a metaverse place for the RED project that has never been seen before.

 

RED Tokyo Tower

The real-world heart of the project is the RED TOKYO TOWER, made by Tokyo eSports Gateway and opened on April 20, 2022. It is the biggest gaming park in Japan. It takes up about 5,660 m2 of the Foot Town building and is right below Tokyo Tower. About 800,000 people a year are expected to come to the site.

 

The idea behind RED TOKYO TOWER is to “provide entertainment experiences that are out of this world.” It’s fun in every way, from playing the newest games to watching events and matches in a stadium with the most powerful XR technology in the world.
TEG additionally opened the RED E-SAUNA in Ueno. They hope to take the project to airports and other big places in Japan.

 

Tokenomics

In the RED Economy, RED coins are the main assets. With RED coins, people from all over the world can take part in events on the RED website. Users can also use RED coins to buy certain NFTs to get into events. As gifts, RED Tokens are also given out. Sponsors and platform income pay for the gifts.

 

Players can use their RED coins to do things in the real world and the metaverse, in addition to participating in events. For example, they can take professional lessons to improve their skills, buy NFTs with special features in events, or save up RED coins to unlock limited features that give them better game terms.

 

The worth of the NFTs goes up because the content is interesting, which lets people enjoy the content. Also, the information of these NFTs will be kept for a very long time using services like IPFS and Arweave, allowing them to be used for a long time. The RED coins used to buy these NFTs will be saved as platform reserves. It shall be the main way awards and events are paid for.

Reddcoin Price

Recent Red Coin (RED) Price and Performance

At the moment, each unit costs $0.0008326 on the market. They are worth $5,337,998 on the market and $82,112,507 when all their shares are sold. It also trades $1,767,945 worth of shares every 24 hours.

 

How to buy (RED) Red Coins

Follow these steps to buy Red Coin (RED) on MEXC:

  • Sign in to your MEXC account and then click [Trade]. Just click [Spot].
  • Use the search bar for “RED” to find the trade pairs. Take the case of RED/USDT.
  • Go to the [Spot] box by scrolling down. Type in how much RED you want to buy. You can make either a Stop-limit order, a Limit order, or a Market order. Take the case of a Market order. To finish your order, click [Buy RED]. The RED you bought will be in the Spot Wallet.

Conclusion

In conclusion, Reddcoin (RDD) is an open-source project, and it does not have a single owner or central authority. The development and maintenance of Reddcoin are carried out by a community of contributors and volunteers. This decentralized approach ensures that Reddcoin remains transparent and independent, driven by the collective efforts of its community members rather than being controlled by a specific individual or organization.

 

A utility coin for contributions in the RED community is a pretty simple idea for a cryptocurrency. The trouble, of course, is that the RED community never caught on, making the Coin almost useless for anything other than investing.

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Written By: Allen Matshalaga

 

Allen is a professional forex trader, blogger, and online enthusiast who spends most of his time testing and reviewing legit ways of making money online and is determined to help others succeed.