Blockchain technology is developing at a rapid rate. In just a few short years the crypto space has gone from the relatively unknown to making dozens of millionaires. The 2021 bull run saw nearly every single crypto in the top 100 reach a new all-time high. One of the most popular fads over the past 18 months has been NFTs. Two projects that benefitted the most from the increase in NFT popularity were Solana (SOL) and Axie Infinity (AXS). As we move forward into Web 3.0 and the Metaverse, Caprice Finance (CFT) is hoping to become the next big token to explode in value.
What Is An NFT?
Non-fungible tokens (NFTs) are digital assets with unique identities stored in smart contracts on the blockchain. Each NFT has its very own personal contact address meaning that each item can not be copied. The technology of NFTs will be at the forefront of how the world operates over the coming years with gaming, music and film being some of the earliest adopters of the technology. Alongside this, the Metaverse will greatly enhance the adoption too.
Solana (SOL) is a smart contract platform that allows decentralised apps (dApps) to be built upon its blockchain. Ethereum is the number one smart contract blockchain but it faces many issues including its expensive gas fees and its slow transaction speeds. Whilst the upgrade of Ethereum 2.0 has promised to solve these issues, the upgrade has been delayed many times resulting in creators and developers moving to other networks.
Solana (SOL) can process up to 50,000 transactions per second on its network which is significantly quicker than Ethereum (ETH). With many of the early NFT projects being built on Ethereum (ETH), the newer projects have turned to Solana (SOL) as it allows them to mint (release) them for a far cheaper cost.
Axie Infinity (AXS)
The explosion of NFTs was quickly followed by the formal introduction to the Metaverse. After Facebook’s name changed to Meta, several crypto gaming coins saw an incredible rise in price. The metaverse and NFTs go hand in hand and now billions of gamers worldwide are being presented with an avenue to earn actual money whilst playing the games they love.
The ingame NFTs in the Axie Infinity (AXS) world are known as Axies. These Axies are individual monsters that you can train, battle and even breed. To get started you will need to purchase 3 Axies from an NFT marketplace. Once you’ve trained and battled your way to the top you can then sell your NFTs for a potential profit.
Caprice Finance (CFT)
Caprice Finance (CFT) is a multi-chain cryptocurrency that has plans to develop into the Metaverse with NFT integration. A multi-chain bridge allows the exchange of data and transactions between certain smart contract blockchains. On Caprice Finance, the three blockchains that users will be able to interact with, and bridge between, are Ethereum (ETH), Binance (BNB) and Polygon (MATIC).
There are plans set out in the official white paper to launch a fully integrated NFT Marketplace on the platform. The multi-chain bridge could then come in handy as creators, buyers and sellers alike will be able to find the cheapest and quickest blockchain for their transactions.
Caprice Finance will also reward its long-term holders. There will be a unique airdrop system that will populate existing Caprice Finance wallets with extra $CFT tokens every time a transaction takes place on the network. It is also stated that the project will be completely deflationary meaning that every time a transaction takes place, the blockchain will burn a certain amount of tokens reducing the supply. This in turn will increase the value of the $CFT.
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