One of the main reasons why NFTs gained so much traction last year is because they bring art ownership to the masses, which has traditionally been a privilege exclusive to the rich. NFTs also appeal to millennials, Gen Z, and older generations that value art ownership more, as they have more affinity for digital platforms. With over $2.5 billion in NFT sales within the first half of 2021, & an immense $1.2 billion in July alone, it had never been witnessed its profitability in the crypto sector before.
It’s no secret that the crypto market has suffered a few blows this year already, with some investors fearing whether crypto can withstand the rugged state of the world at present. However, the huge success of NFTs indicates that crypto is going to stick around for a while – as NFTs must be purchased using crypto, the two are inherently connected.
Regardless, investors are growing frustrated with seemingly frequent periods of flat trading, which have often hit the market. So, is the solution to invest in an NFT coin? Let’s take a look at Flow (FLOW), Theta Network (THETA), and Parody Coin (PARO), which is currently in presale, to assess whether they’ll be reeling in epic gains.
Flow (FLOW) is a fast and decentralized blockchain built specifically to master the demand for NFTs. As NFTs are growing increasingly popular, a more efficient system is needed to tackle the congestion that has hit Ethereum (ETH) during NFT auctions. Flow (FLOW), like other blockchains, has its native currency called FLOW. FLOW is the network’s reserve asset, covering transaction costs and staking.
FLOW hit its most recent all-time high (ATH) of $42.40 on April 5th, 2021. Despite starting 2022 on a sluggish note, FLOW appears to be picking back up. Its 24-hour trading volume is currently up by almost 18%, which boosted its market cap by nearly 2%. With the FLOW platform’s ongoing development and upgrades, it has a good chance of reaching its ATH soon. Based on its recent accomplishments, FLOW is generally regarded as a solid investment in 2022.
Theta Network (THETA)
Although February was a difficult month for many blockchains, Theta Network (THETA) was one of the few that saw massive increases in liquidity locked into its ecosystem. According to Be[In]Crypto Research, the network’s total value had reached $212 million by the end of the month, and that’s a 133% increase since January of this year.
Theta’s (THETA) main business concept is to decentralize video streaming, data delivery, and edge computing, allowing industry participants to be more efficient, cost-effective, and fair. The internal economy is powered by two native tokens, Theta (THETA) and Theta Fuel (TFUEL), which run on a native blockchain.
Theta’s (THETA) appeal is threefold: viewers benefit from a higher-quality streaming service, content creators earn more money, and middlemen — video platforms — save money on infrastructure while increasing advertising and subscription revenue. TFUEL tokens are rewarded for watching network content and sharing network resources, so users have an incentive to do both.
As with many proof-of-stake-based blockchain ecosystems, the platform is open source, and token holders receive governance powers. Developers looking to launch dApps on Theta’s fully featured EVM-compatible Smart contract platform and video, data, and computing are catered to.
Parody Coin (PARO)
For those who want to experience the first all-time high of crypto, Parody Coin (PARO) is the way to go. Parody Coin (PARO) facilitates the minting, trading, and use of parodies of favorite NFTs on the BNB Chain and other blockchains in its presale stage.
As NFTs can sell for thousands of dollars, many people could be left out of the market’s most interesting aspects. While market forces will continue to drive the price of digital art, anyone can participate and share in the value created. Parody Coin gives the potential to produce parodies of the popular NFTs. It also make to trade these NFT parodies & earn money. If it is a functional NFT, users can derive utility value from it, just like from the original NFT.
The Parody NFT is available on the Parody Coin marketplace are not completely separate from the original NFTs from which they were cloned. By locking up or burning the original NFT, the owners of the real NFTs can gain ownership of the Parody NFT via a robust bridge.
This creates the possibility that some parody NFTs will become original NFTs, but only if the owner of the original NFT decides to buy the Parody and burn the original NFT to implement the changeover. This could happen, particularly if NFT owners see the Parody Coin ecosystem as offering unavailable features on other exchanges.
If NFTs weren’t enough, Parody Coin (PARO) are also creating their Metaverse. Designed to aid in developing NFTs that interact with the real world, the ‘Paroverse’ allows users to create and interact with virtual worlds that are interfaceable with the physical world.