KARRAT

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Discover KARRAT's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is KARRAT?

KARRAT (KARRAT) is a governance token supporting the KARRAT Protocol, a decentralized gaming infrastructure layer. It empowers community decision-making and is used to integrate the protocol into games and products, fostering inclusivity, transparency, and active participation. The token is part of a broader ecosystem that combines gaming, entertainment, and AI innovations, aiming to reshape the gaming and entertainment industries.

How is KARRAT used?

KARRAT (KARRAT) is the native cryptocurrency of the KARRAT protocol, a decentralized gaming infrastructure layer. The token is used for various purposes within the ecosystem:

  1. Governance: KARRAT tokens are used for making governance decisions on the platform, allowing holders to participate in the decision-making process.

  2. In-Game Purchases: The token can be used for in-game purchases, enhancing the gaming experience for users.

  3. Reward Distribution: KARRAT tokens are used to grant rewards to promoters of the coin, incentivizing community engagement and adoption.

  1. Partner Network Utility: The token facilitates utility within the partner network, ensuring seamless interactions between different stakeholders.

  2. Infrastructure Utility: KARRAT tokens are used to support the infrastructure of the platform, ensuring the smooth operation of the decentralized gaming ecosystem.

These uses highlight the multifaceted role of the KARRAT token in the KARRAT protocol, making it a crucial component of the platform's functionality.

How do I store KARRAT?

To store KARRAT (KARRAT) tokens securely, it is recommended to use a cryptocurrency wallet rather than storing them on an exchange. There are two types of wallets: software wallets (hot wallets) and hardware wallets (cold wallets). Hardware wallets, such as Ledger, are considered more secure as they store your crypto keys offline. Each hardware wallet comes with a seed phrase that acts as a key to unlock the wallet. It is advised to store the seed phrase in a physical form, using metal seed phrase storage solutions, to protect it from loss or destruction.

How to buy KARRAT?

To buy KARRAT tokens, follow these steps:

  1. Choose an Exchange: Select a reputable cryptocurrency exchange that supports KARRAT, such as KuCoin, CoinEx, gate.io, or MEXC. Ensure the exchange accepts customers from your country and offers the necessary trading features for your needs.

  2. Create an Account: Register a free account on the chosen exchange by providing personal information, including your name and email address. Some exchanges require KYC verification to increase withdrawal limits and unlock additional features.

  3. Fund Your Account: Deposit funds into your exchange account using various methods such as credit/debit cards, bank transfers, or other cryptocurrencies. Be aware of any fees associated with deposits and withdrawals.

  1. Place a Buy Order: Navigate to the KARRAT trading page and place a buy order at the desired price. You can set a market order or a limit order based on your trading strategy.

  2. Store Your Tokens: Once you have purchased KARRAT tokens, decide how to store them securely. Options include keeping them on the exchange, using a self-custodial wallet like Metamask or Trustwallet, or a cold storage wallet like Trezor or Ledger.

  3. Monitor Your Investment: Keep track of your KARRAT investment by using tools like CoinScan, which provides real-time price and market cap updates, as well as additional features for analyzing the token's performance.

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History of KARRAT

The history of KARRAT (KARRAT) is marked by significant milestones that have shaped its development and growth.

Launch and Governance

The KARRAT Protocol was launched on April 22, 2024, by the KARRAT Foundation, which introduced $KARRAT as the governance token. This token enables community involvement in decision-making processes for the integration of the KARRAT Protocol into various gaming and entertainment products.

Gaming Integration

The first gaming title to integrate the KARRAT Protocol is "My Pet Hooligan," developed by AMGI Studios. This game features cutting-edge motion capture technology, AI-driven conversational non-playing characters, and real-time face-driven animation. The integration of the KARRAT Protocol allows players to embody an NFT in-game.

Partnerships and Support

AMGI Studios, a key supporter of the KARRAT Protocol, has signed strategic partnerships with AI giants like Nvidia and Palantir. These partnerships aim to incorporate advanced technologies into gaming and entertainment products, further enhancing the capabilities of the KARRAT Protocol.

Market Performance and Predictions

As of June 7, 2024, there were 87.7 million KARRAT in circulation, out of a total supply of 1 billion. Price predictions for KARRAT vary, with some expecting it to reach $2.17 in 2024 and $4.70 in 2025. Other predictions see it reaching double figures by 2030.

Community Engagement

The KARRAT Protocol emphasizes community decision-making through on-chain governance, allowing holders of $KARRAT to participate actively in shaping the future of gaming and entertainment products. This decentralized approach aims to empower the community and foster inclusivity and transparency.

Overall, the history of KARRAT is characterized by its innovative approach to gaming and entertainment, strategic partnerships, and a strong focus on community engagement.

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How KARRAT works

The KARRAT (KARRAT) cryptocurrency is a governance token designed to empower community decision-making in the gaming and entertainment sectors. Here's how it works:

Governance and Community Involvement

KARRAT is the governance token of the KARRAT Protocol, which supports transformative AI and innovations in gaming and entertainment. The token allows the community to participate in on-chain governance, giving them a voice in how the protocol is integrated into games and products. This decentralized approach fosters inclusivity, transparency, and active participation in the development of the ecosystem.

Token Overview

KARRAT is an ERC-20 utility and governance token built on the Ethereum blockchain. It has a fixed supply of 1 billion tokens, with allocations divided among the community, early contributors, development, and the team and advisors. The token is available on several major exchanges, including Coinbase, Gate, KuCoin, and Crypto.com.

Gaming Integration

The KARRAT Protocol is integrated into games, enabling the use of digital collectibles and their metadata within gaming engines. This allows for the creation of unique gaming experiences. For example, the game "My Pet Hooligan" is the first title to incorporate the KARRAT Protocol, featuring cutting-edge motion capture technology, AI-driven conversational non-playing characters, and real-time face-driven animation.

Token Utility

The KARRAT token is used for various purposes within the ecosystem, including in-game transactions and rewards. Holders of My Pet Hooligan NFTs are also eligible for a KARRAT airdrop claim. The token's utility extends beyond gaming, as it supports the development of AI products and innovations in the entertainment sector.

Decentralized Infrastructure

The KARRAT Protocol operates as a decentralized gaming infrastructure layer, supported by the KARRAT token. This decentralized approach empowers the community to drive the direction of the protocol and its applications, creating a shared vision for the future of gaming, entertainment, and AI.

Overall, KARRAT is designed to revolutionize the gaming and entertainment industries by leveraging blockchain technology, AI innovations, and community-driven governance.

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KARRAT's strengths

The token KARRAT, the governance token of the KARRAT Protocol, has several strengths that make it an attractive investment opportunity:

  1. Community Governance: KARRAT empowers community decision-making through its on-chain governance model, fostering inclusivity, transparency, and active participation. This decentralized approach allows the community to have a significant say in the development and integration of the protocol into games and products.

  2. Gaming and AI Innovation: The KARRAT Protocol supports transformative AI and innovations in the gaming and entertainment industries. It is integrated into games like My Pet Hooligan, which features cutting-edge motion capture technology, AI-driven conversational non-playing characters, and real-time face-driven animation.

  3. Strong Partnerships: KARRAT has strategic partnerships with major exchanges like Coinbase, Gate.io, and KuCoin, ensuring its availability and accessibility to a broad user base.

  1. Rewarding Community: The protocol rewards its community by allowing My Pet Hooligan NFT holders to claim KARRAT tokens, promoting engagement and loyalty.

  2. Decentralized Infrastructure: The KARRAT Protocol operates as a decentralized gaming infrastructure layer, supported by a truly decentralized community with a shared vision for gaming, entertainment, and AI products.

  3. Utility and Governance: The KARRAT token serves as both a utility token for in-game purchases and a governance token for decision-making, providing a dual-purpose functionality.

  1. Predicted Growth: Price predictions for KARRAT suggest significant growth potential, with expected yearly highs and lows indicating a promising future for the token.

These strengths position KARRAT as a promising token in the cryptocurrency market, particularly in the gaming and AI sectors.

KARRAT's risks

Karat, a cryptocurrency project, carries several financial risks. One significant risk is its high risk assessment given by InvestorsObserver, which indicates that the token may be easily manipulated by limited trading activity due to low values in its proprietary scoring system. This suggests that the token's price may be volatile and susceptible to significant changes based on market capitalization and trading volume.

Additionally, Karat's financial products, such as its fee-free and interest-free merchant advance cards, rely on a unique underwriting process that considers creators' stats and social status. This approach may introduce risks related to accurately assessing income levels and managing credit limits, particularly for content creators with variable earnings.

Furthermore, Karat's operational demands, including managing data on Salesforce and tracking physical card shipments, may lead to challenges in scaling and maintaining efficient operations. This could result in increased costs and potential losses if not managed effectively.

Lastly, the project's reliance on external services, such as Delegate for Salesforce administration, may also introduce risks related to trust and the potential for technical debt if not managed properly.

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Did KARRAT raise funds?

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KARRAT’s team

  • KARRAT Foundation Team: The KARRAT Foundation is led by Director Matt Shaw, who oversees the development and implementation of the KARRAT Protocol.

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