Given the enormous market values of Bitcoin and other altcoins, there still needs to be a significant gap in the uptake of the cutting-edge solutions offered by blockchain technology. Furthermore, the general public needs to gain awareness of the intrinsic worth of a web-3 economic model and isn’t motivated to learn about its potential advantages. The Hooked Protocol (Hook) token, though, may alter that.
By utilizing GameFi, where users can earn money for studying different crypto ideas, Hooked intends to draw more people into the cryptocurrency field and assist them in adopting web3 solutions.
How? Let’s investigate!
What Exactly Is The Hooked Protocol (Hook) token?
In order to onboard new users into the web3 movement, Hooked Protocol is a cryptocurrency project that is developing an on-ramp layer. It creates a simplified and gamified learning experience that offers the essential incentives to spur crypto adoption.
Hooked, modeled after the Learn and Earn idea that has gained traction in the crypto community, promises to draw new users to web3 through interactive and experience-based learning. Hooked’s cutting-edge web3 teaching platform. Similar to Web3Camp’s, combines traditional web3 dynamics to connect developers and contributors with a largely untapped audience.
Hooked is developing a number of onboarding solutions in addition to learning incentives to assist organizations and the community in making the switch to web3. A user-friendly decentralized apps (DApps) architecture is included in the web3 onboarding package to help create and safeguard web3 digital assets.
The Hooked Protocol (Hook) token, supported by a dual-token mechanism made up of HOOK and HGT (Hooked Gold Token), has a sophisticated tokenomics structure created to make it easier for its users to carry out typical use case activities.
How Does the Hooked Protocol Work?
The Hooked Protocol (Hook) token uses a dynamic decentralized social network, an incentive-based educational system, and gamified learning elements to motivate individuals to use web3. It is organized in a healthy manner as follows:
In order to promote web3 learning, The Hooked Protocol (Hook) token has established a cutting-edge educational approach that is both immersive and inquisitive. Through its games and tutorials, The Hooked Academy enables consumers to quickly interact with crypto ideas like non-fungible tokens (NFTs) and GameFi.
In order to shorten the learning curve for new users and improve the overall learning experience, the learning site also makes use of the idea of community-formed, entertaining decentralized autonomous organizations (DAOs).
conventional web3 mechanics
Rewards are a straightforward yet powerful technique to promote adoption. Wild Cash, a Learn and Earn DApp by The Hooked Protocol (Hook) token, has the following features:
Quiz-to-Earn – New users may learn web3 principles in a fun way by taking quizzes and earning tokens for doing so, just like Play-to-Earn.
Proof of Work and Time (PoWT) Mining Game – Encourages players to invest their time and effort by using the well-known Mine to Earn proof of work (PoW) technique.
Social Referral – Users receive compensation for introducing people to their web3 social network.
Stake and Swap – Users may practice ideas like staking, trading, and transferring crypto tokens with the Hooked Wallet.
Onboarding Web3 Solutions
In order to provide a seamless transfer into web3, Hooked offers a variety of onboarding options as a gateway to web3. New users receive a unique digital identity through the platform’s Hooked Soulbound Token (Hooked SBT). Members also have access to the Hooked Wallet, which offers a simple user interface for navigating and orienting themselves with web3 transactions.
The Hooked Protocol (Hook) token Token Uses
Two tokens—HOOK and HGT—make up the token structure of The Hooked Protocol (Hook) token. The platform’s primary token is HOOK, supported by the internal utility token HGT.
The dual-token structure is intended to improve liquidity, boost usefulness, and guarantee the long-term viability of the Hooked ecosystem.
With a 500 million token fixed supply, HOOK is a deflationary coin. The HOOK token serves the following purposes for Hooked as its utility and governance token:
- Governance – When choosing ecological suggestions, one’s stakes and votes are reflected.
- Gas – Used as gas to support on-chain transactions and power all DApp economic activity.
- Access – Community members will access special NFTs and events using the token.
On the other hand, the utility token HGT is distributed according to the volume of jobs completed. It is exclusively utilized within the Hooked environment and has a limitless supply. It is used in the following ways:
- Let customers practice for tests in the Quiz-to-Earn training facility.
- Reward participants in the Quiz-to-Earn boot camp
- Motivate individuals to participate in the social referral program.
- Encourage the game experience on the platform
Future Price Prediction for HOOK
Launched on December 1, 2022, at $2.13, HOOK has had a positive outlook ever since. Over 114,000 investors had committed to purchase HOOK during the subscription period prior to its release.
A few weeks following its release, the price of The Hooked Protocol (Hook) token significantly decreased. Reaching a low of $1.09 on December 28, 2022. On the other hand, the HOOK price has rebounded amazingly well, increasing by around 250% in a single month to reach a high of $3.81 on January 28, 2023. The hook is valued at $3.17 at the time of writing (February 1, 2023) and has a $114,891,541 24-hour trading volume.
Although the token HOOK may be new to the market, its current market value and circulating quantity are unknown. Analysts who anticipate cryptocurrency prices are optimistic about it. DigitalCoinPrice estimates that HOOK will surpass $10 in 2025 and reach $32.95 by 2030. Price technical experts make similar optimistic predictions at BitNation, who believe that the price of HOOK might get a high of $12.03 in 2025 and a low of $27.85 in 2030.
The success of The Hooked Protocol (Hook) token has led it to concentrate on bringing the general public into the web3 world. Its Wild Cash DApp had more than two million monthly active users by the end of 2022.
However, the information presented above is not financial advice, and we urge you to learn more about Hooked Protocol before investing.
Where To Buy HOOK
Tokens for the Hooked Protocol may be purchased on platforms including Bybit, Gate.io, and Binance. To trade Hook as a HOOK/USDT Spot Trading pair, register for a Bybit account. Bybit’s Spot Grid Bots also let you trade HOOK.
Hooked Protocol’s strategy has effectively increased web3 and cryptocurrency acceptance through gamified learning. The platform wants to expand its SocialFi system, offer more diverse goods to the cryptocurrency community in 2023, and use all available resources to create an ecosystem that can support itself.
The hooked Protocol (Hook) token is poised to make a name for itself in the vast web3 community. Thanks to an aggressive worldwide expansion plan and a focus on developing an enhanced content-learning platform.