Big Eyes Coin takes a dynamic approach to the NFT market, like ApeCoin and Ethereum
The NFT market has seen its share of ups and downs over the years. While NFT adoption is growing, NFT prices are plummeting. Big Eyes Coin (BIG) looks to change this by introducing utility to its future NFT collection, allowing holders to use their Big Eyes NFTs as invitations to exclusive events and parties on the Big Eyes Coin platform.
ApeCoin (APE) and Ethereum (ETH) are two NFT heavyweights in the crypto market, with Ethereum hosting the most recognized NFT marketplace in the crypto space, OpenSea. ApeCoin also hosts one of the most lucrative NFT collections on the market, the 10,000 strong Bored Ape Yacht Club (BAYC) collection which sold out within twelve hours of release. Let’s find out more about these three crypto platforms!
Big Eyes Coin – Introducing utility for NFTs
Big Eyes Coin is a new meme token shaking up the DeFi sector of the crypto market. The platform aims to contribute significant wealth to the DeFi ecosystem while donating a significant amount of the funds to ocean conservation efforts. The funds will come from the charity wallet which contains 5% of the tokens.
Additionally, Big Eyes Coin will implement a 10% fee on every NFT transaction. While 5% of the fee goes to BIG holders and 4% to the original seller, 1% will go directly to the charity wallet so that the charity wallet can consistently contribute to ocean conservation efforts.
When examining Big Eyes Coin’s relationship with NFTs, it is important to remember the introduction of utility. The Big Eyes Sushi Crew is an exclusive club on the platform, and Big Eyes Coin will host exclusive NFT events with the seasons, with ambitious plans to host an NFT gathering among the top ten projects.
ApeCoin’s contribution to the NFT market
The Bored Ape Yacht Club collection undoubtedly increased NFT adoption worldwide. The platform single-handedly took NFTs to the mainstream, with high-profile figures such as Eminem and Snoop Dogg buying the NFTs for large sums of money.
The ApeCoin platform has implemented a DAO to allow its token holders to contribute to the growth of the platform with crucial decisions regarding ApeCoin’s future upgrades. The number of APE tokens a user has determines their voting weight in the DAO.
Another advantage of the ApeCoin platform is that it has recorded an impressive trading volume throughout its history. The NFT giant has more than $1.2 billion in market capitalization at the time of writing, which shows the support behind this innovative project.
Ethereum’s dominant NFT marketplace
As mentioned above, Ethereum hosts the most recognized NFT marketplace in the crypto space. The platform hosts most of the NFT collections in the top 100 by trading volume, including the famous BAYC collection and CryptoPunks.
The Ethereum blockchain recently swapped its outdated Proof-of-Work (PoW) consensus mechanism for the modern Proof-of-Stake (PoS) consensus algorithm. The switch brought several benefits to the platform, including reduced fees, processing times and carbon emissions, benefiting the OpenSea market.
While the crypto market is in a state of decline, Ethereum has been seen as a safe bet through the bear market. Its use cases and importance help the platform remain relevant through difficult times.
Final thoughts
Although the NFT market has seen a steady decline in value since its peak in 2021, so has the rest of the crypto market. Ethereum and ApeCoin have set a strong precedent for how to create solid platforms that are heavily involved in the NFT market. Big Eyes Coin looks to replicate the success of these platforms and take it a step further by introducing utility to its NFTs.
Any new user on the Big Eyes Coin platform can get 5% bonus tokens with their purchase if they use promo code ‘BIGsave255’ at checkout!
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