The NFT market is still taking by storm investors, collectors, gamers and anyone else interested in obtaining unique items. DeFi is surrendering the role of the main hype-maker and volume-breaker as NFTs have shown a 2,500% increase in trading volumes in Q1 of 2021, and have reached an overall valuation of over $2 billion on some marketplaces dedicated to trading Non-Fungible Tokens.
The market is growing so popular that major stars and venues are starting to jump onboard the rolling NFT train as Miami is hosting an NFT BAZL this week along with a 2-day virtual NFT Summit related to the sector and its prospects.
With so much already happening and whipping up such a frenzy in both technological and financial terms, it is only logical to expect that the rise in NFT-related projects is heating up and is promising to offer numerous interesting ventures.
The following is a list of some of the more interesting NFT launches that everyone should look out for, salivating at the promises that the upcoming products have to offer both in terms of top-notch entertainment and value as potential investments.
The first NFT project in the lineup is memecoin YooShi – a DeFi-oriented currency running on the Binance Smart Chain. Apart from providing a colorful metaverse full of fun and non-stop challenges, YooShi gives its holders all the benefits of decentralized finances that gamers and token holders have grown accustomed to. NFT yield farming, play-to-earn, reward distributions – it is all in the YooShi metaverse, where players are thrust into countless sub-game universes built by community members. As part of the barrage of tasks and minigames, players can build their own businesses or get regular employment in the metaverse for a chance of earning some highly coveted YooShi, thus transforming the process of creation and exchange from an actual job into a pleasant gameplay experience.
Apart from enjoying all the boons of the Binance Smart Chain, YooShi utilizes token burns and an innovative auto-liquidity function for quickly raising the liquidity level inside the universe. By combining a variety of DeFi mechanisms and providing developers with a convenient toolset for building their own universes inside the game, YooShi is largely focused on catering to the community and bridging the gap between token issuers and holders for a wholesome, gamified earning experience for all involved.
Bit.Country is a fully developed DAO that allows all of its users to create and customize an entire metaverse in a 3D voxel world. The project is so ambitious and tightly connected with the real world, that it has already conducted a full-fledged experiment involving the migration of over 150 average internet users into its metaverse, rewarding them with MVPC tokens for engagement in the world through posting quality content, comments and engaging in interaction with other users.
Be it a business, an event, an expo or even a recreation of a simple walk in the park – Bit.Country allows users to do it or create it through a simple constructor that empowers participants with tools that blur the line between the virtual and the real worlds. Combined with its advanced decentralized and peripheral visualization technologies, Bit.Country has what it takes to attract a serious following, just as it attracted over $4 million in investments at its seed round from such giants as Animoca Brands – the mastermind behind such breakthrough titles as CryptoKitties, The Sandbox, F1 Delta Time and others.
Another contender for the attention of investors and NFT market watchers is Wilder World – an immersive 3D universe held together and run entirely by NFTs. The project is being launched in collaboration with Zero.Space – another decentralized metaverse that enables users to share, trade, and create with their community. With such a vast base to build on, Wilder Worlds gives players the chance to wander through multi-leveled, photorealistic and mixed reality universes and worlds as Wilders. The Wilders are the players who can freely roam through the endless virtual universe, collecting unique items, purchasing land plots and generally displaying themselves through avatars, decorative items, fashion statements and much more.
With a fully community-governed approach to traction, Wilder Worlds is based on the Ethereum blockchain and is set firmly on making it big in the world of NFTs. Considering that all items scattered throughout the many worlds of Wilder are unique and created by fans and players, the potential for selling some for pretty pennies is considerable and worth eyeing.
Last but not least is Trace Network – a fully decentralized finance protocol with advanced identification solutions incorporated to improve the quality of the merchandise inventory on offer and the mechanisms of ownership management – through NFTs, of course. As an enterprise-grade DeFi protocol focusing on the fashion, lifestyle, and luxury goods sectors, Trace Network has already announced that it is launching its own marketplace, appropriately called BLING, which will be acting as a Limited Edition Luxury and Lifestyle NFT Marketplace.
In its strive to act as a bridge between real-world goods and virtual Non-Fungible Tokens representing a unique luxury product, BLING will be using the Polygon network to streamline NFT purchases and make the process even simpler and more efficient for new and uninitiated users. Apart from BLING, Trace Network is also looking to issue a white label stablecoin backed by its native token, which can be used for settlements and accounts based on on-chain transactions.
Up And At Em’
NFTs are not going anywhere, even despite the recent digital currency market slump, proving yet again that nothing can beat the allure and application of blockchain-based assets if they are tethered to real-world items – especially if they are in the luxury or entertainment industries. With so much innovation literally brimming in each of the projects being fielded on the market, the mind boggles with the possibilities that decentralized technologies still have in store
Image Source: Marco Verch on Flickr (CC 2.0)