Cryptocurrency Investors Are Very Interested in These Innovative NFT Projects

by 99Crypto

There is no question that we are just at the beginning of a new economic paradigm started by cryptocurrencies and augmented by decentralized finance, but the arrival of non-fungible tokens has been more of a game-changing event. In the early days of blockchain development, technologists were excited by the idea of using distributed ledgers to manage real estate registrar systems, but NFTs take things to a different level by actually tying tangible property to a digital asset.

NFTs are all the rage in 2021, and they should be. This technology has a lot of promise and can have a positive impact on society, with applications in so many areas.

What are Non-Fungible Tokens?

In the early days of blockchain technology, there were a lot of interesting ideas, but nothing that was really applicable. However, now that we are seeing the rise of decentralized finance, we are starting to see applications of this technology in real estate, art, and other areas of tangibles. These applications are the first of their kind, and NFTs are going to change the way we view our personal property.

The beauty of NFTs is that they are digital assets that have a unique identification and are tied to real assets. They are the first type of asset that can be used to trade or give away ownership of digital objects without requiring any third parties. They are like artworks or rare collectibles in that they are limited editions that have value.

Best of all, NFTs can be traded on cryptocurrency exchange platforms, and the ones below have been lighting up the trading volume charts in recent weeks:

  • Axie Infinity: This NFT is a virtual world currency that you can earn by playing an online game similar to Pokemon.

  • Synthetix: This is the native token of a DeFi platform on which investors can trade derivative instruments without actually holding crypto.

  • GHST: With this interesting digital currency, players of the Aavegotchi online game can acquire coveted digital avatars that are in very short supply.

All the aforementioned tokens can be traded on major exchange platforms that support ERC20 formats, which means that they can be easily converted to Ethereum and exchanged for fiat money.