2022 was a groundbreaking year for several crypto projects. Crypto projects like FTX and TerraUSD fumbled, many crypto projects emerged to solve problems in the crypto space. Projects like Shiba Inu (SHIB), ImmutableX (IMX), and Orbeon Protocol (ORBN) took giant strides and made significant upgrades, especially regarding maximizing the utility features of NFTs.
Here, we will discuss ImmutableX (IMX) and Orbeon Protocol (ORBN) and how they bring new utility levels to NFTs in 2023.
What Are NFTs?
Non-fungible tokens, or NFTs, are a unique digital representation of a physical and tangible real asset. NFTs can neither be replicated nor interchanged for another like a fungible currency, making them unique.
Although they became prominent as a digital art collectible and digital in-game item, as in the case of Decentraland (MANA) and Sandbox (SAND), this class of asset has evolved to other use cases in various industries. Some of the use cases include; tokenizing medical data and certificates on the blockchain and issuing tickets. Their increasing utilities mean they have the potential to be deployed in more industries.
ImmutableX (IMX)
ImmutableX (IMX) is a decentralized exchange (DEX) and the first layer-2 protocol for NFTs built on the Ethereum blockchain. It is designed to provide fast, secure, and private trading of crypto assets, including ERC-20 tokens and NFTS. Unlike centralized exchanges, ImmutableX (IMX) is trustless, meaning users have full control over their funds and private keys, eliminating the risk of centralized points of failure and fraud. This provides an additional layer of security. The platform uses zero knowledge-rollups technology to scale its transactions, allowing it to process trades with lower fees and faster confirmation times compared to traditional DEXs.
ImmutableX (IMX) is one of the projects that will bring new levels of utility to NFTs in 2023. The X engine processes 600x more transactions than other NFT-based platforms, meaning no interference with the user experience of functionality. Besides increasing the overall liquidity and accessibility of NFTs to ease trading, buying, and selling, IMX aims to encourage massive adoption through its carbon-neutral NFT scaling solution. This means that no excess energy will be expended when creating and transacting NFTs. This, coupled with no gas fees and the fact that users don’t need to transfer their assets to an entirely different network, makes IMX one of the best scaling solutions for NFTs.
Orbeon Protocol (ORBN)
Orbeon Protocol (ORBN) is another project that brings a new level of utility to NFTs. It is an investment platform that enables startups to raise funds by fractionalizing NFTs to everyday investors. Lyubomyr Koval, a software development engineer who has been in the crypto space for over a year, founded the platform. The Orbeon Protocol (ORBN) platform mints an NFT for the company and then fractionalizes it for investors to come on board.
Orbeon Protocol (ORBN) solves the problem of raising capital quickly by connecting companies with communities of investors and helps everyday investors invest in genuine startups directly with as little as $1 through fractionalized NFTs. One of the unique features of the Orbeon Protocol (ORBN) is the “Fill or Kill” mechanism. If a company fails to reach its funding goals, the NFTs will be automatically returned to investors.
Orbeon Protocol (ORBN) is disrupting the venture capital industry through NFTs, pointing to the infallible fact that NFTs have more to offer than being collectibles. Investors can only access the platform by owning the Orbeon Protocol (ORBN) token. Owning $ORBN has perks, such as discounts on trading fees, cashback rewards, access to up-and-coming funding rounds, earning passive income on staking, etc.
Find Out More About The Orbeon Protocol Presale
Website: https://orbeonprotocol.com/
Presale: https://presale.orbeonprotocol.com/register
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