Crypto Performance depends on US Economy Health, DigiToads the Next Big Thing in NFTs - Here's Why
Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.
Crypto investors have been frustrated as traditional equities roar back toward all-time highs while crypto fails to break out of its narrow trading band.
Veterans will remember the exact same pattern occurring in 2019. And cryptos went on to make outrageous gains dwarfing any returns in the stock market only six months later.
At this moment, crypto performance depends on the US economy's health, and bearish analysts state that when the S&P 500 starts retracing, it will smother crypto.
But in the same fashion that AI and tech stocks have driven the current rally, crypto has its aces that continue soaring regardless of market conditions.
This article outlines a blockchain ICO rapidly drawing attention that investors should be watching: DigiToads (TOADS), the next big thing in NFTs. Here’s why.
DigiToads (TOADS) Introduces NFT Staking
DigiToads has opted for a different approach to most new DeFi projects, and instead of introducing staking for the native token $TOADS, it has introduced NFT Staking.
Holders of the DigiToads NFT Collection receive rewards from a payout pool that accrues 2% of all ecosystem transactions.
These digital collectibles have become trending NFTs amongst enthusiasts. Their provision of passive income means these toad-themed twists on famous figures are some of the best NFTs to invest in currently on the market.
Cash flows mean optimistic valuations, and analysts expect the floor price to rocket when staking payouts begin on August 21.
Normal staking for ERC20 coins leads to high inflation levels and mercenary capital farming and dumping the token. Under the DigiToads NFT staking model, staking rewards go to users aligned with the protocol.
This reduces long-term sell pressure and rewards users that support the protocol. A heavily underappreciated piece of game theory, and this subtle genius is what makes the DigiToads protocol one of the best altcoins to invest in.
NFTs become the cornerstone of staking rewards, and investors holding three or more gain access to The School of Toads- DigiToads’ educational platform.
TOADS transitions the NFT space away from the PFP model towards cash-producing assets. And these NFTs could quickly become one of the space’s most sought-after collections.
The Native Token $TOADS & Deflation
All staking rewards come in the native token $TOADS. The protocol has designed the token to be hyper-deflationary, and token burns are one of crypto's most successful and battle-tested value accrual mechanisms.
Investors only need to look at the success of Ethereum’s (ETH) EIP-1559. The DigiToads burning campaign perfectly mirrors the Ether burn by linking the burn rate to ecosystem activity via the taxation system.
Every transaction entering and exiting The Swamp (the native ecosystem) is subject to the Toad Tax. The taxation system ensures overall protocol sustainability, and this continuous capital stream allows DigiToads to expand aggressively.
At a high level, all TOADS community members have to do is acquire an NFT, better if they acquire several, stake them, and wait for the payouts to roll in.
As the total supply of $TOADS steadily declines, they will control a more significant percentage. And this dual-tiered earning truly makes the protocol revolutionary, staking rewards and deflationary gains combined in one access point.
Closing Thoughts: A Future Blue Chip?
DigiToads has raised an incredible $6.7 million. While the protocol is changing the NFT game, the NFT Staking mechanic is only one constituent in the broader TOADS ecosystem, delivering an entire suite of DeFi earning opportunities.
Analysts' price predictions expect a 2,100% surge for $TOADS in the coming months, and the presale represents investors' final chance to board the train early. Do not miss the opportunity, and participate in the presale today.