Token Gamium Corp (GMM) surged more than 600% in the past 24 hours to hit an all-time high of $0.00437. At the time of writing, the value of the coin has dropped to $0.00299.
The price spike was due to a collaborative scoring protocol with Meta and a misunderstanding of the Binance tweet by community members.
Gamium Token $GMM Soared more than 600% after the announcement of the cooperation #Yuan and Telefónica @azcoinnews https://t.co/bQ5DgllrsT
— Kyptos (@azcoinnews) February 28, 2023
On February 27, Gamium announced a partnership with Meta and Telefonica through the tech giant’s Metaverse activation program.
The partnership will give it access to Meta’s technical and expert support sessions, Web3 Protocol said.
The program’s website adds that selected startups can “explore business development opportunities with Meta and Telefónica, as well as access an open innovation ecosystem and potential investment from Telefónica.”
Gamium Co-CEO ALberto Rosas said:
“Working with Meta’s AI team has been a great experience as we’ve built technologies that make the Web3 and Metaverse more accessible.”
Binance tweets GMM
Meanwhile, Gamium’s partnership announcement coincided with Binance tweeting “gmm” on Feb. 27.
Although Binance’s tweet meant “Good Monday morning,” some speculators interpreted it as the exchange’s interest in Gamium’s GMM token.
The Gamium Protocol states that its vision is to humanize the Internet by providing digital identities to users across multiple chains and the Metaverse across the Web2 and Web3 spaces.
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according to Kyptos