Why Tezos Stock Skyrocketed on Tuesday Afternoon
Tezos (CRYPTO: XTZ) tokens were having a fairly quiet afternoon on Tuesday, rising no more than 7% on a day when many of the most popular cryptocurrencies were soaring. That picture of relative serenity changed dramatically a few minutes after noon, Eastern Time, when the smart-contract platform's token skyrocketed 16% higher in just 15 minutes on massively higher trading volume. By 3 p.m. ET today, the token showed a 24-hour price gain of 37.4%.
French video game developer Ubisoft Entertainment (OTC: UBSFY) powered this massive jump. The company behind popular franchises such as Assassin's Creed, Just Dance, and Rayman will soon launch a platform for collecting non-fungible tokens (NFTs) tied to unique in-game items. And Ubisoft selected the Tezos blockchain as the backbone of this service over the leading smart-contracts platform Ethereum, citing Tezos' energy-efficient proof-of-stake architecture.
"We chose Tezos because of its original proof-of-stake network and its leadership on clean NFTs," says Ubisoft's blockchain chief, Didier Genevois. "One transaction on their network uses the same amount of energy as streaming 30 seconds of video, while the previous generation of blockchain networks can consume the same energy required for one year of nonstop streaming."
Source Fool.com
