3 NFT Cryptocurrencies You Should Consider Investing: PARODY COIN (PARO), SOLANA (SOL), AND DECENTRALAND (MANA)
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The world of cryptocurrencies has received a lot of positive attention lately. The Metaverse and NFTs are becoming increasingly popular, and this has helped with their rapid growth. It's as if NFTs came out of nowhere, gathered a lot of hype, and exploded when they became a hot topic all over the world. Even more intriguing was the fact that they were being sold at prices that many could not even imagine. NFT is a non-fungible crypto token that works on a particular blockchain. It can be used for almost everything, from images to videos to memes. When you invest in an NFT, you take ownership of the asset in a digital format.
Last year, there were many high points in the NFT project. Many thought that the NFT hype would be gone in a year. Fortunately for us, NFTs have grown in popularity, price, and value over time. People have now learned to trust this incredible NFT market, as preached by many influential people like Elon Musk and David Beckham. The NFT market generated more than $20 billion in revenue in 2021 alone. It can be beneficial to many investors and help them to make a fortune. Getting a worthwhile NFT-based project is an opportunity you shouldn't miss. Let's take a look at some NFT-based cryptocurrencies, that you should consider investing in very soon.
Parody Coin (PARO):
Parody Coin (PARO) is a new coin that seems to disrupt the crypto market, thanks to its unique dApp running on the Binance chain. With a simple interface, users can now create imitations of Binance Chain, Ethereum, and other favourite NFTs.
Parody Coin's (PARO) native tokens can be used on the Binance Smart Chain (BEP-20) and exchanged for other assets, through the liquidity pool on the decentralized exchange. These liquidity pools rely on PARO users to volunteer to fund special wallets that facilitate conversion between different tokens. The robustness of the system always depends on whether these liquidity pool providers consider the returns from the BEP-20 chain to be sufficient.
Parody Coin (PARO) allows users to pay for transfers within the ecosystem. The tokens are designed to be cross-chain compatible, so users can also transfer assets through the PARO bridge. PARO-Swap is deployed in the ecosystem as a dApp (Decentralized Application), facilitating the quick and easy transfer of assets on the Parody Coin (PARO) chain. Transactions are subject to a 10% commission, of which 5% is taxed as a reward to parody coin holders.
Solana (SOL) is one of the most unique cryptocurrency networks ever created. It was able to enter the OpenSeas marketplace after being recognised by them. With a market capitalisation of over $17 billion, Solana (SOL) is the second-largest NFT in sales after Ethereum (ETH). Solana’s (SOL) success in the NFT marketplace is due to its speed and low-cost fees. Currently, it ranks among the top 10 cryptocurrencies globally, with a live daily price of $54.17 according to CoinMarketCap.
Decentraland (MANA) allows users to create and earn money using content from virtual reality platforms. The company has demonstrated a competitive advantage due to its uniqueness. Investors' interest in Decentraland (MANA) is skyrocketing, which could continue for people and businesses to get a good start in the Metaverse. Payments for goods and services in Decentraland are made using the native token MANA. It can be used to purchase avatars and land parts in the virtual world. With a market capitalisation of more than $2 billion, Decentraland (MANA) is ready to splash the crypto market.
There is no doubt about the significance of NFTs in the cryptocurrency world. Many experts predict that NFTs are the absolute dominating power in the next coming years, alongside GameFi, DeFi, and the Metaverse. The stated cryptocurrencies above have efficiently utilised NFTs on their platforms, and investing in any of these should return substantial gains.
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