One of the main reasons NFTs have grown in popularity in the last year is that they bring ownership of art to the masses, which has traditionally been a privilege reserved for the wealthy. NFTs also appeal to millennials, Gen Z and older generations who value artistic property more, as they have more affinity for digital platforms. With over $2.5 billion in NFT sales in the first half of 2021, and a whopping $1.2 billion in July alone, it had never witnessed its profitability in the crypto sector. previously.
It’s no secret that the crypto market has already taken a few hits this year, with some investors worried that crypto can withstand the current difficult state of the world. However, the huge success of NFTs indicates that the crypto is going to stick around for a while – as NFTs must be purchased using the crypto, the two are intrinsically linked.
Either way, investors are growing increasingly frustrated with seemingly frequent bouts of flat trading, which have often hit the market. So, is investing in an NFT coin the solution? Let’s take a look at Flow (FLOW), Theta Network (THETA) and Parody piece (PARO)which is currently in presale, to assess whether they will benefit from epic gains.
Flow (FLOW) is a fast and decentralized blockchain specially designed to master the demand for NFTs. As NFTs become increasingly popular, a more efficient system is needed to combat the congestion that has plagued Ethereum (ETH) during NFT auctions. Flow (FLOW), like other blockchains, has its native currency called FLOW. FLOW is the reserve asset of the network, covering transaction costs and staking.
FLOW reached its most recent all-time high (ATH) of $42.40 on April 5, 2021. Although it started 2022 on a slow note, FLOW appears to be picking up. Its 24-hour trading volume is currently up almost 18%, which has boosted its market capitalization by almost 2%. With continued development and upgrades to the FLOW platform, it has a good chance of hitting its ATH soon. Based on its recent accomplishments, FLOW is generally considered a solid investment in 2022.
Theta Network (THETA)
Although February was a tough month for many blockchains, Theta Network (THETA) was one of the few to see massive increases in locked-in liquidity in its ecosystem. According to be[In]Crypto Research, the total value of the network had reached $212 million by the end of the month, an increase of 133% since January this year.
The main business concept of Theta (THETA) is to decentralize video streaming, data delivery and edge computing, enabling industry players to be more efficient, profitable and fair. The internal economy is powered by two native tokens, Theta (THETA) and Theta Fuel (TFUEL), which run on a native blockchain.
The appeal of Theta (THETA) is three-fold: viewers get a higher quality streaming service, content creators make more money, and intermediaries – video platforms – save money on infrastructure. while increasing advertising and subscription revenue. TFUEL tokens are rewarded for watching network content and sharing network resources, so users are incentivized to do both.
As with many proof-of-stake blockchain ecosystems, the platform is open source and token holders are given governance powers. Developers looking to launch dApps on Theta’s fully EVM-enabled smart contract platform and video, data and computing are supported.
Parody piece (PARO)
For those who want to experience the crypto’s first all-time high, Parody Coin (PARO) is the way to go. Parody Coin (PARO) makes it easy to mint, trade and use parodies of favorite NFTs on BNB Chain and other blockchains in its pre-sale phase.
Since NFTs can sell for thousands of dollars, many people could be left out of the more interesting aspects of the market. As market forces will continue to drive up the price of digital art, anyone can participate and share in the value created. Parody Coin gives the possibility to produce parodies of popular NFTs. It also makes it possible to trade these NFT parodies and earn money. If it is a functional NFT, users can derive utility value from it, just like the original NFT.
The Parody NFTs available on the Parody Coin market are not completely separate from the original NFTs from which they were cloned. By locking or burning the original NFT, owners of the real NFTs can take ownership of the parody NFT via a robust bridge.
This creates the possibility of some parody NFTs becoming original NFTs, but only if the owner of the original NFT decides to purchase the parody and burn the original NFT to implement the change. This could happen, especially if NFT owners see the Parody Coin ecosystem as offering features unavailable on other exchanges.
If NFTs weren’t enough, Parody Coin (PARO) is also creating its Metaverse. Designed to help develop NFTs that interact with the real world, the “Parovere” allows users to create and interact with virtual worlds that can be interfaced with the physical world.
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