For the past several years, investors’ interest in NFTs has grown at an exponential rate. These unique assets have no physical existence and can only be traded in the cryptocurrency market.
The NFT marketplace has more than stunned the public with its ability to make investors loads of money. Artwork is being sold for millions of dollars, an autographed tweet by billionaire Jack Dorsey sold for 2.5 million, and memes have been getting bids to the tune of millions. This billion dollar industry has turned individuals into overnight successes.
NFTs are part of the Ethereum blockchain and could be anything from virtual artwork, to music, photographs and memes. The buzz around NFTs is majorly centered around using technology to sell artwork that is non-fungible. This blockchain innovation has the potential to transform more individuals into overnight sensations. Here are two promising NFT tokens to consider accumulating in May 2022: Decentraland (MANA) and Sanzooz Finance Token (SZFT).
Esteban Ordano and Ariel Meilich established Decentraland in 2015. The platform is a 3D virtual environment with the Ethereum blockchain as the foundation of this browser-based metaverse. The platform’s goal is to encourage a worldwide community of virtual world operators to have fun and work together.
In the metaverse enabled by Decentraland, users can buy and sell virtual real estate, explore, interact, and play games. Interactive apps, in-world payments, and peer-to-peer communication are just some of the features available to the platform’s users.
Many Metaverse and Play-to-Earn (P2E) platforms include more than one type of token to control their operations, and this platform is no exception. The LAND and MANA tokens are the ones used by Decentraland.
Non-fungible (NFT) tokens such as LAND and MANA are used on the platform to facilitate the purchase of land and other virtual goods and services. LAND is used to represent ownership of land parcels that represent digital real estate.
Many institutional investors have turned to Decentraland as their go-to place. JPMorgan, one of Wall Street’s and America’s top banks, has become the first major banking company to establish itself in the Metaverse by constructing a lounge in Decentraland.
Decentraland’s (MANA) token has the highest market capitalisation in the metaverse. The company’s current market value is $2.2 billion. The price of Decentraland has fallen by 13.29% in the past 7 days. At the time of this writing, it’s trading for $1.213 which is 79.44% below the all time high of $5.90.
Parody Coin (PARO)
Popular NFT parodies CryptoPunks and Bored Apes, as well as access to their functionality, are all made possible using Parody Coin (PARO). The Binance Smart Chain is the platform on which the deflationary utility coin PARO operates (BEP-20). Parody Coin will provide investors with an easy-to-navigate interface.
One of the unique features of the Parody Coin ecosystem is the dApp store. The project’s long-term goal is to allow third-party developers to create and deploy apps inside the ecosystem. A wide range of services will be offered by these decentralised applications in order to aid in the expansion of the platform. This includes support for the minting, trading, and use of spoof NFTs. The Parody Ecosystem is governed by Parody Coin (PARO) tokens.
Many ways for passive income are well-known in the Parody Coin community.
The Parody Swap, for example, is a site where investors may trade any cryptocurrency for PARO tokens; the Parody Bridge facilitates the transfer of PARO tokens to other blockchains.
Paroflection is a system that allows users to receive rewards in the native PARO coin.
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