NAGA (NGC) the Cryptocurrency for Gaming and Financial Trading
NAGA Coin is the cryptocurrency behind the social trading platform for cryptocurrency, virtual goods and stocks.
It aims to make it easier for the mainstream adoption of blockchain and cryptocurrency.
The cryptocurrency was introduced by the NAGA Group AG is a German publicly listed FinTech company with a focus on financial markets, virtual goods, and cryptocurrencies
The NAGA ecosystem is divided into few sections and include Naga Wallet, Naga Trader, Switex, Naga Academy and also debit card.
How is it used?
The ecosystem include:
NAGA Trader which an app/website which allows users to invest intro differenct fiat currencies, cryptocurrencies and stocks. The platform includes other features like trade copying
NAGA Wallet which enables the safe and simple exchange of cryptocurrencies and digital money.
NAGA Card which is connected to the wallet and which allows to pay for goods and services in online & offline transactions.
Switex which aims to be the world’s first trading exchange for virtual goods powered by the blockchain.
NAGA Academy for community (crypto education, degrees and news)
57.6 million coins available with total supply of 77.9 million
40% of volume on OKEx and 29% on HitBTC, 22% on Bittrex, 9% on Upbit.
Bitcoin is the most popular pairing, also paired with ETH and USDT
Naga Coin (NGC) is the currency that will drive all internal transactions taking place within the parent ecosystem. There seem to be a lot of different use cases through different platforms within the ecosystem. Sometimes NGC will be needed to use some of the features while in other cases NAGA Coin users will benefit from special conditions and reduced fees.
Current price: around $0.44 for 1 NGC (7th of June)
Current market cap: around $25million
Market capitalization rank: 272
Team and community
Existing company based in Hamburg, Germany.
Funded in 2015, listedon German Stock Exchange, owns different financial licenses.
Over 100 employees in total with offices in 9 cities.
Backed by mainland China’s largest private multi-hundred-billion investment company, FOSUN Group, the German Stock Exchange (Deutsche Börse AG), as well as Germany’s second oldest bank, Hauck & Aufhaeuser
Where does it fit?
NAGA is very large in scope much bigger than many other projects in comparison.
Wallet wise and fiat gateaway the project will compete with Coinbase, Ethos (157M), Bread (38M), Eidoo (33M). Card wise with projects like Monaco (86M), TenX (76M), TokenCard (32M), Change (6M)
The project will also compete with trading platforms like Covesting (12M) (and many more), gaming cryptocurrency: WAX (93M), Enjin (65M), DMarket (12M).
NAGA is one of the few platforms that already have a working product and is bigger in scope than any of those.
The future developments include:
NAGA Academy launch
Alpha launch of NAGA Exchange and launch of NAGA Guard
Predictions for the future
The ATH is almost $4.33 and was achieved on 31st of December after pump that happened after listing. Since then the price decreased by a lot but has been stable for quite a while.
It is difficult to compare the project to anything since of how big in scope the project is. We can compare it to the likes of Ethos, Wax or Monaco for example which would mean the price going up around 4-5x long term.
NAGA is bigger in scope however and is supported by a large company. I do think because of that fact it’s one of the safer investments long term especially at the current price.
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