About Prom (PROM)
Previously named Prometeus Labs, PROM is an NFT marketplace focused on the blockchain gaming space, reportedly offering the trading and rental of gaming NFTs. Prometeus Labs was founded in 2018 and rebranded to PROM in July 2022 as a result of the emerging blockchain NFT market. PROM utilizes the utility token $PROM on its platform. The current price of PROM can be live-tracked on Binance.
PROM promotes itself as a single-access point to the NFT/blockchain gaming space, seeking to meet the needs of players, metaverse enthusiasts, NFT owners, guilds, and games. As the blockchain gaming space has evolved into incorporating features like NFT rentals and land tokens symbolizing virtual property, PROM reports offering virtual mortgage and rental solutions included in its marketplace.
Plans for the project include a decentralized exchange (DEX) for the specific purpose of swapping metaverse-related tokens, like land and access tokens. Additionally, PROM is setting itself up to be a launchpad, supporting promising game projects.
$PROM is the primary utility token powering the platform. PROM advertises the token to be cost-effective, convenient, and used in governance. Currently, platform perks of holding the Prom token include discounted fees for users who set PROM as the fee coverage method. Regarding convenience, the marketplace will enable users to use the PROM token to make purchases across the board without swapping for a game's token to acquire assets.
PROM holders can participate in governance. Any token holder in the community can submit proposals regarding topics such as charge fees, game inclusion and exclusion, and which games to reward with incentives. Voting is cast on-chain, making the process transparent.