By now, seemingly everyone knows about cryptocurrency. NFTs, or Non-Fungible Tokens, are intrinsically linked to crypto. For better or for worse, NFTs have gained a lot of attention from both inside and outside the crypto-sphere.
Many people on social media, from Twitter to Reddit to YouTube, have poured scorn on the very idea of NFTs. These often ill-informed criticisms do almost nothing except show the ignorance of those talking. It would, of course, be wrong to state that there are no unscrupulous characters in the world of crypto and NFTs. However, the overwhelmingly vast majority of those in the space are legitimate parts of the community.
Some cryptocurrencies are specifically bent to cater to those interested in NFTs, notably Ethereum (ETH), Axie Infinity (AXS), and Parody Coin (PARO). PARO is a highly promising new cryptocurrency and is one of several upcoming releases such as Logarithmic Finance (LOG).
Logarithmic Finance stands out from the crowd and is less than tangentially related to NFTs. It will promote a multichain and cross-chain environment with opportunities to raise funds between any blockchain network, such as Ethereum (ETH), Polygon (MATIC), Binance Smart Chain (BNB), Tezos (XTZ), Solana (SOL) and Avalanche (AVAX).
Ethereum (ETH) Rules the Roost in NFT Transactions
Ethereum (ETH) is the second-largest cryptocurrency in the world; Bitcoin (BTC) is the only asset that sits above it. Its market cap is more than $400 billion at the time of writing. On OpenSea, the largest NFT trading platform, most NFTs are bought and sold with ETH.
The Ethereum Network has received criticism from NFT users for its occasionally slow speeds and frequently exorbitant gas fees. Other leading blockchains such as Polygon (MATIC) and Solana (SOL), currently offer viable alternatives to Ethereum.
The long-awaited upgrade to Ethereum, ETH 2.0, is finally due to be released in 2022. This should cement the Ethereum Network’s position as *the* currency with which to buy and sell NFTs.
Axie Infinity (AXS) – Battle Your Own NFTs
Axie Infinity (AXS) is a blockchain-based metaverse game that allows players to earn real money. In-game NFTs in the form of “Axies” can be purchased. These digital creatures can be used to fight other players as well as computer opponents.
Smooth Love Potion (SLP) is earned through winning battles and challenges, and it can then be sold on a variety of cryptocurrency exchanges and converted to cash. Users can also breed axes, which can sell for up to and even over $600,000.
Throughout the year 2021, Axie Infinity (AXS) was one of the top-performing tokens. Before the announcement of Meta, the game was already gaining popularity. According to sources, the coin rose by 17000% in total, implying that if you had invested at the correct time, you could have gained a lot of money.
Parody Coin (PARO) – Accessible NFTs for Everyone
Despite the fact that it is only in its pre-sale phase, Parody Coin (PARO) has attracted a lot of interest. Parody Coin (PARO) incentivises holders to engage by giving different revenue streams, thanks to its innovative White Paper, which aims to make the best features of the NFT market more accessible.
Parody Coin (PARO) owners can generate passive revenue in four distinct ways. The first is to develop and sell parodies of popular NFTs on an open market; the second is to sit back and let the reflection system handle everything; the third is to stake on the BNB Chain; and the fourth is to earn from a range of ParoRewards.
ParoRewards is a platform that gives BEP-20 tokens to Parody Coin (PARO) holders. On the BNB Chain network, money is lent in exchange for a return. As a result of this scheme, holders of specific BEP-20 tokens can earn up to 30% APY.
Users can exchange any crypto for PARO with ParodySwap, a Parody Coin (PARO) swap. It’s a multi-chain swap that consolidates liquidity. There is also a Parody Bridge, which allows PARO to be transferred to other blockchains for a nominal charge.
Finally, the Paroverse is the name of Parody Coin’s Metaverse platform (PARO). The Paroverse allows users to construct and participate in virtual worlds that can be accessed via NFT parodies and other decentralised applications.
Find out more about Parody Coin:
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