There’s been some slight maturation in the NFT space over the last year or so. The ecosystems of older NFT projects are starting to grow, which has resulted in the creation of a few NFT cryptos. The majority of these native cryptos are used as a form of payment within their respective communities. They may also include ownership rights and voting power.
The market cap of NFT cryptos presently stands at around $33 billion. The total market cap of all cryptos is approaching $2 trillion. That means NFT cryptos account for less than 2% of the total crypto market, meaning that the field is still in its infancy.
There are, however, three projects that are beginning to gain widespread traction. If you’re interested in the NFT space, you should keep an eye on them. With that in mind, let’s take a look at ApeCoin (APE), Decentraland (MANA) and Parody Coin (PARO) and why they’re worth watching.
The Bored Ape Yacht Club NFT collection is powered by ApeCoin (APE), a new digital currency. Since the buzz around NFTs last year, this collection is evolving into a digital ecosystem at a rapid pace.
The Bored Ape Yacht Club is the world’s largest blue-chip collection of NFTs. Celebrities such as Tom Brady, Madonna, and Steph Curry all claim ownership of these digital monkeys. The BAYC universe is now growing.
BAYC’s native currency is ApeCoin (APE). The ApeCoin (APE) DAO is the company that owns and runs it. This means that anyone who owns ApeCoin (APE) will be able to cast a vote on the community’s future. Keep in mind that the future is still somewhat hazy. It should, however, include a virtual community, a Metaverse, and a game of some kind.
ApeCoin (APE) is still considered a highly speculative investment. Aside from a high-quality promo video, they haven’t delivered much. However, with YugaLabs‘ resources and reputation, it’s easy to see this project exploding in popularity. ApeCoin (APE) could quickly become one of the top NFT cryptos to own if this happens. ApeCoin (APE) was also only released at the end of March, so this could be a great time to buy while it’s still fresh.
Another popular Metaverse project is Decentraland (MANA). It functions more like a digital world than a game. In Decentraland (MANA), users can hang out, attend virtual events, and buy things – in fact, the buying aspect is one of Decentraland’s (MANA) main selling points. The Metaverse even describes itself as “the virtual destination for digital assets”. Users can purchase and sell digital land, estates, and wearables for their avatars.
MANA is the Decentraland token that allows you to participate. You’ll be able to vote on important decisions about the community’s future if you own it.
The fact that many people consider Decentraland (MANA) to be one of the top Metaverse projects aids it massively. It will be one of the most obvious starting points as new consumers and investors enter the space. This is especially useful in completely new industries, such as the Metaverse.
MANA could become one of the top NFT cryptos to own if the DeFi space becomes more popular. MANA is currently valued at $4.4 billion.
Parody Coin (PARO)
The developers behind Parody Coin (PARO) grew frustrated by the ridiculously high prices popular NFTs were selling for, coupled with the fact that NFTs had turned into a status symbol for a select few to brandish.
Parody Coin (PARO) was thus born out of this frustration. The project allows users to create ‘parodies’ of popular NFTs, and then buy, sell and trade them on the platform’s marketplace dApp.
The Parody Coin (PARO) ecosystem works like a Super app, complete with its own dApp store. Their long-term goal, according to the White Paper, is to enable third-party developers to create and launch applications within the ecosystem. These dApps will offer a variety of services, including those that facilitate the minting, trading, and use of parody NFTs.
Parody Coin (PARO) still caters to those with no understanding of how to mint NFT parodies – holders can earn passive income through 3 other streams which include reflection, staking and through its rewards system.
Moreover, the Parody Coin (PARO) token appears to be a highly efficient crypto, as it has its own multichain swap and bridge, thereby tackling interoperability on the blockchain.
Parody Coin (PARO) has just entered its first stage of presale, allowing potential investors to buy the token at its lowest ever price. While PARO is currently selling for $0.002, the price is predicted to start inclining as it approaches its launch.
Automish Coin (ATI) is another token that has just entered presale and promises lucrative prospects to holders. It’s an action roleplay P2E game which provides multiple other opportunities to earn revenue, like through its NFT marketplace, whereby players can exchange NFTs and goods using the game’s native currency, ATI.
Learn more about Parody Coin (PARO) here:
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