Cryptocurrency fantasy gaming platform Rainmaker launched

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Cryptocurrency fantasy gaming platform Rainmaker was officially launched and is now available on Google Play Store and iTunes. Rainmaker offers the same stock trading function, copying the functions of the real stock exchange in India.

Linked to real-world stock exchanges, Rainmaker stock exchanges have been traded all over the world using live event data and benchmarks.

After its launch, according to a statement from parent company First Stock Contest Limited, this launch makes Rainmaker the world’s first cryptocurrency fantasy gaming platform.

Before its launch, Rainmaker provided similar functionality for stock trading, replicating the functionality of the current Indian stock exchange.

Founder and CEO Harsh Himmatsingka told the exchange: “Even in equity trading, India has seen greater participation from more individuals with young professionals quickly joining the fray. Many of them belonging to Tier 2 and Tier 3 cities, which is encouraging and a powerful indicator of a growing investment and profitability mindset”.

Rainmaker’s exchange, which is linked to a real-world worldwide cryptocurrency exchange, leverages data and references from live occurrences all across the world. In a fantasy game world, players can securely perform real-life exchanges. They can choose from over 20 different sorts of contest forms, both paid and free, on the platform. The company claims that the platform provides the flexibility to exit at any time, allowing them to have complete control in the game to stop profit and loss records.

“Although India’s love for cryptocurrency trading exceeds that of the United States and China, the knowledge on how to maximize investment in cryptocurrency trading is still limited,” Himmatsingka added.

From an investor and user perspective, India currently ranks second in the survey of countries that use the most cryptocurrencies, stating that 9% of respondents have used cryptocurrencies. Between June 2020 and June 2021, the number of cryptocurrency users in India has exceeded 15 million, and investment in the country has increased from US$923 million in April 2020 to nearly US$6.6 billion in May 2021. It increased by about 400% in one year.

During the pandemic, the cryptocurrency market has exploded. Globally, the market value of cryptocurrencies has increased tenfold, from more than $200 billion in March 2020 to $2 trillion in mid-May this year.

Although there are some concerns about the volatility of crypto assets, the impact of the cryptocurrency boom over the years is very obvious given the increase in trading volume on cryptocurrency exchanges globally and in India.

WazirX claims to have increased growth tenfold in just five months, with the platform registering $ 5. billion in transaction value in April of this year, up from $ 500 million in October 2020. CoinDCX recently hit $ 1.1 billion and is the first Indian cryptocurrency exchange to achieve unicorn status.