Non-Fungible Tokens, or NFTs, are multimedia content converted to tokens that carry certain value, depending on where they were created and the purpose they will serve. Since their widespread adoption in 2021, NFTs have been an integral part of the cryptocurrency market, causing massive trends. Many coin projects support NFT creation on their platforms, as NFTs produce tremendous user traction and are helpful for many purposes. Little wonder, new entrant, Big Eyes (BIG), will be featuring a huge NFT club while looking to compete with established platforms like Ethereum (ETH) and ApeCoin (APE). Stay tuned as we briefly review these tokens and their standings in the NFT trade.
The Ethereum (ETH) network, as we have it today, was developed following a whitepaper announcement in 2013 and launched in 2015. It has since become a massive project in the cryptocurrency market, ranking second only to Bitcoin.
Ethereum (ETH) runs on a proof of stake protocol after its merger upgrade in mid-September. The transactions are authorized by smart contracts, consistent with the decentralization objective of the network. The platform experienced challenges with slow transaction processing and high network charges, which caused the development of several other projects like Polygon and Binance.
The blockchain features a wide range of applications, most created by users in-line with the Ethereum (ETH) protocol. DeFi solutions like DApps, DEXs, and games exist on the network, together with a well-developed NFT marketplace. The NFTs significantly contribute to Ethereum’s popularity among users all over the crypto space, as the various NFT marketplaces accept ETH as a primary payment option.
The crypto collapse has caused a massive bearish trend since February 2022, which has affected most coins, including Ethereum (ETH). It now sells for $1,337.05, according to CoinMarketCap.
ApeCoin (APE) was launched in 2022 by the Bored Ape Yacht Club as a token for their Metaverse space, where it serves several functions, from NFT trade to administrative positions. The Bored Ape Yacht Club is one of the largest NFT communities in the world, making ApeCoin (APE) a significant token in the NFT space.
ApeCoin (APE) is an Ethereum-based coin used in the APE platform by the holders to make decisions on the platform’s protocols. The platform is entirely DAO since the members have complete control over its affairs. ApeCoin (APE) is also used to enter the game modes, where users pay to play and pay for NFTs and other services and products available on the network.
ApeCoin (APE) has been declining since it was launched in March due to the heavy down trends the cryptocurrency market has been experiencing. CoinGecko lists it at about $5.31 at the time of writing.
Big Eyes (BIG), the latest memecoin project, has plans to create a highly competitive NFT club. The developers have scheduled the official launch for the third phase of the presale, while stage two will include a release of snippets for the community.
The NFT marketplace will boost the token’s cryptocurrency price considerably and increase its popularity among users. The anticipated NFT club will draw users from other networks to the Big Eyes (BIG) platform, as the club will enable NFT creation, sale, and exchange. The Big Eyes (BIG) development team also promises all transactions in the NFT club will be free, which will surely attract most users.
Already, Big Eyes (BIG) is gaining traction because of its latest social media stunt. Through the official Twitter handle, the developers announced a 250,000 token giveaway for ten winners by December. The contest is ongoing, but the draw will take place much later. To be eligible, you must buy some BIG tokens and hold them by the time they draw. The first place gets 100,000 tokens, while the other nine split 150,000 BIG among themselves.
Big Eyes (BIG) is yet another project in the cryptocurrency market. However, it’s pulling all the stops to create a presence for itself, not without proof.
Big Eyes Coin (BIG)
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