With several crypto’s competing for top NFT positions, who will come out on top for Web3? NFT’s and their place in the future that is the Metaverse, will this overshadow the “classic” crytpocurrencies such as Bitcon and Ethereum? When Loopring’s partnership with Gamestop was announced LRC jumped 57% over the next 2 days. Pologon (MATIC) is also proving popular amongst prospectors with it’s own solution to high ETH gas fees.
Use Cases, Integration and Consolidation
Amidst the volatility of the crypto markets since the recent exodus, partly fuelled by the breakdown of the UST (LUNA) project, there has been a call for greater diligence surrounding consumer investments.
This article will cover how NFTs could be the safest bet for success within the Web 3.0 and Cryptocurrency ecosystem and why investing now could see strong returns in the coming years. As use cases continue to rise, so does cross-chain integration, with protocols such as Firepin, Loopring, and others pioneering the consolidation of digitalised assets on NFT marketplaces which opens up new opportunities to fuel sustained investor growth.
The Safe Bet
So why are NFTs potentially the safest bet for Cryptocurrency? Simply put, everything is becoming digitised. Whether it is trading cards, loyalty points, or the somewhat polarising artwork of Apes and other community-driven projects, we are now seeing a new way to own assets. Therefore, new ways of trading these assets are required, and low and behold, the rise of NFT marketplaces has commenced.
This is why many see NFTs and, by extension, NFT Marketplaces as one the safest bet within crypto. Integrating these new assets and consolidating them onto a platform is key to the continued expansion of Web 3.0.
Firepin (FRPN) A positive Disruptor Leading The Way For The Metaverse
One early-stage protocol worth looking at is FIREPIN Token (FRPN). FIREPIN Token has been touted by many as a potential high growth opportunity and recently received liquidity funding in the millions as it positions itself to be the leading player within the Metaverse NFT space.
While still in Presale, what gets us excited about Firepin Token is that their project is cross-network compatible (Ethereum ERC-20, BEP-20 or Polygon ERC-20) and allows users to participate in the development of the platform through the acquisition of their native token. Moreover, not only will the project look to bring VR gaming into the Metaverse, but they will also develop their NFT marketplace to allow trading of new-age gaming NFTs. This will occur in Q3 and Q4 of 2022 as part of Stage 3 in their roadmap, per their whitepaper.
As the bull market has come to a close, projects such as FIREPIN offer investors a good chance to maintain those high returns on their assets and a hedge against your larger market cap coins. You can win with Firepin, although cheesy, it is a real possibility given the good work the developers are doing, and we wouldn’t be surprised to see the project have a very strong second half of 2022.
Is Loopring (LRC) poised to become the leading NFT marketplace?
If you have followed meme stocks such as Gamestop (GME) over the past 2 years, you will be well aware of the partnership they struck with the layer 2 protocol Loopring (LRC) to fuel the development and launch of their NFT Marketplace. This is major news and great for those in the crypto space as it is yet another indicator that a paradigm shift is occurring, with those holding the token set to benefit.
When the news broke that integration of the marketplace with GME had occurred, the LRC token soared 57% in the 2 days following and led the way as one of the top performers amongst the top 100 coins (by market cap). Whilst this project is still in Beta, it is clear that NFTs are here to stay, and marketplaces such as the LRC could be poised to front-run.
Polygon (MATIC) Living Up To Its Name
Like LRC, Polygon (Matic) is a layer 2 protocol that builds off the Ethereum Network using a Proof-of-stake model (POS). Matic was introduced to address the problems associated with high gas fees on the ETH network and be the leading Cryptocurrency in cross-chain integration.
While LRC looks to integrate more traditional technology into Web 3.0 through their own marketplace, Matic is focused on growing the already existing ecosystem and allows trading across multiple marketplaces, such as OpenSea, NFTrade, and Refinable, with more set to come. Many are bullish on Matic’s progression, and it’s not hard to see why.
With the integration and everyday use cases of NFTs soaring, alongside the continued growth of Web 3.0 as a whole, NFTs are one of the best bets for investors moving forward. Therefore, looking into projects and marketplaces that offer cross-chain integration seems wise. Given the potential to have more consolidated trading, that’s why new projects such as FIREPIN Token, have particularly high potential.