Over the last two years, non-fungible tokens (NFTs) have taken the digital space by storm, growing to become an asset class of their own. Unlike fungible cryptocurrencies, an NFT is a digital asset that stores value but is unique from all other NFTs. The tokenization technology behind NFTs has been crucial to bringing high-value real-world assets into the decentralized finance (DeFi) sphere. Cryptocurrency projects such as Uniglo.io (GLO), Decentraland (MANA), and ApeCoin (APE) know all about this and are making head waves into NFTs.
Uniglo.io is an Ethereum-based crypto project that introduces an asset-backed social currency. This project is designed to hedge against market volatility and generate long-term wealth for longstanding investors.
To achieve investment growth, the Uniglo.io protocol has a Vault to hold digital currencies and digital assets, including NFTs representing valuable real-world items with strong potential for appreciation. By carefully selecting which investments to purchase, the Uniglo.io community can collectively own an enviable asset portfolio that underpins the price of the native token GLO.
The project also implements a special Ultra-Burn feature, which is a highly aggressive burn strategy. The feature removes from circulation a portion of every buy-and-sell transaction. It also buys back and burns tokens from the secondary market. Therefore, the total supply of GLO constantly declines, ensuring a rising value for investments.
Decentraland is a virtual reality platform powered by the Ethereum blockchain. It includes a decentralized app store, a payment system, a marketplace for developers and users to meet, an interactive multiplayer 3D game world, and support for high-level interactions between its users through Blockchain Smart Contracts. This project is gaining traction for its access to NFTs, which can be LAND, digital estates, avatar wearables, or other collectibles that buyers can use within the ecosystem.
Apecoin is a digital asset and the native token of the Bored Ape Yacht Club, which is a unique set of 10,000 ape images. APE has a maximum supply of 10 billion tokens. During its launch in March 2022, 30.25% of these tokens were introduced into circulation. This decentralized platform allows users to participate in crypto exchanges while giving them access to exclusive NFTs, games, and services.
NFTs are a solid addition to investment portfolios. As they increase in value and become a legitimate asset class, crypto entrepreneurs will do well to buy into projects that are incorporating NFTs into protocols.
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Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.