New Dogetti’s NFT based protocol to move Avalanche and Enjin Coin from top NFT ranks
The battle for the best NFT project is on, and new memecoin Dogetti (DETI) will join the race as soon as it launches. The memecoin plans to leverage its NFT-based protocol and launch on Ethereum to overtake top NFT marketplaces like Avalanche (AVAX) and Enjin Coin (ENJ), whose NFT marketplaces have been fan favorites since launch. Below is a review of the three tokens and how Dogetti (DETI) would take over the established NFT marketplaces.
Avalanche
Avalanche (AVAX) is a homologue of Ethereum where users have access to similar DApps that they would find on the Ethereum network. Avalanche offers a more suitable alternative trading venue for users than Ethereum due to its improved gas fee rates and scalability.
Avalanche (AVAX) runs on a proof-of-stake protocol that encourages users to stake their assets for the platform’s security. Users who stake their assets receive rewards for the locked tokens while getting a vote on the platform’s protocol upgrades. Avalanche also exists on an independent blockchain that allows the network to build DApps that will benefit users.
Avalanche (AVAX) contributes to Ethereum’s scalability by encouraging Ethereum developers to deploy public domain blockchains to the Avalanche network. These chains, called subnets, operate on Avalanche’s protocol but connect to the Ethereum network.
Avalanche (AVAX) operates three blockchains that coordinate different parts of the platform’s operations. There is the P-chain that oversees Ethereum’s subnet, the C-chain, which oversees smart contract creation and integration, and the X-chain, which manages user account balances. The three chains work with the protocol to ensure improved speed and security on the platform.
Avalanche’s NFT spike in late 2022 caused a resurgence of the platform. With the ongoing bull run, AVAX tokens are selling for $20.07 on CoinMarketCap.
Enjin coin
Enjin Coin (ENJ) is a top blockchain platform that encourages the use of NFTs on the network. Enjin has software such as software development kits, plugins, wallets and gateway systems that enhance the creation of NFTs and their integration into games.
Enjin Coin (ENJ) is linked to the Ethereum blockchain and as a result uses ERC standards to bind user assets. The Enjin platform runs on a proof of stake protocol that allows users to stake their tokens and earn passively.
Enjin Coin (ENJ) has an NFT marketplace to create NFTs from digital content. The NFTs created are often defined under the ERC-1155 standards, hybrid standards that can define both fungible and non-fungible assets. When NFTs are created, they are tied together with an ENJ token to preserve their value. If the NFT depreciates, it will always retain its original value due to the ENJ tied to it. This is why ERC-1155 is best used for Enjin NFTs.
Enjin Coin (ENJ) allows its players to convert their gaming resources from one gaming platform to another. This allows users to expand their digital assets as assets from simpler games can be used to boost more complex games.
Enjin Coin (ENJ) is currently trading at around $0.504 on CoinMarketCap.
Dogetti
As mentioned above, Dogetti’s (DETI) launch on Ethereum and its NFT market will be instrumental in the success of the cryptocurrency market. The token’s presale event is still in the works as the developers round out the final stages.
The Dogetti (DETI) NFT marketplace plans to enable users and developers to create their NFT collections for sale on the platform. The NFTs generated from the platform may be mainly pet-themed, but users can create NFTs from any multimedia content they choose. NFTs on any platform encourage future expansions, especially into a Metaverse ecosystem and blockchain games.
DogettiSwap is the anticipated exchange platform from Dogetti (DETI) and it plans to facilitate coin swapping on the Ethereum blockchain, making trading on the Dogetti (DETI) network easier for users. The exchange will only allow ERC-20 asset exchange, which is a measure to help users transact more conveniently on the Dogetti (DETI) platform without using third-party coin exchange platforms.
The Dogetti (DETI) pre-sale is still in development, as developers work on the final preparatory stages. Stay tuned as we bring you updates on the pre-sale information.
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