Terra LUNA Introduces NFT Minting on Blockchain
The Terra Luna ecosystem has introduced a new feature aimed at NFT coining on the blockchain. According to a detailed step-by-step YouTube tutorial, digital art enthusiasts can now create NFTs on the Terra Luna network with minimal technical knowledge.
After the Luna-UST crash earlier this year, the Terra ecosystem is working hard to regain its lost glory. Also, the Terra network had grown into a top ten coin by market capitalization, over $40 billion, before crashing in May.
Through its strong online communities, the Terra network has risen from the ashes in recent months. Notably, the Terra Twitter account has over 1 million followers.
The NFT market has shown tremendous potential, especially in the metaverse and play-to-earn industries. In addition, the NFT market is largely unregulated, and thus a weak point for speculative trading.
Terra Luna market outlook
The Terra Luna ecosystem has attracted significant investment from developers and angel funders looking to tap into the vibrant community called #Lunatics. Furthermore, blockchains have shown a high correlation between online communities and long-term prosperity.
The Terra Luna ecosystem recorded high onchain activity in September, with several protocols being launched on the blockchain. The Luna Name Service (LNS) network launched its chain profile tool, where users can register a .luna domain, last month.
In addition, Soil Protocol completed Phase 2 of its roadmap by launching new Terra NFT tools. The Zodiac protocol was published last month on Terra’s testnet in preparation for the mainnet release.
Other notable on-chain activities on the Terra blockchain during September included the Coinhall release of the DEX aggregator, Hallswap v3. Meanwhile, TerRarity also launched its NFT aggregator in September, while Harbor Protocol announced an airdrop to LUNA players.
Consequently, Luna’s price has risen about 55 percent in the past two months to trade around $2.39 at the time of reporting. Nevertheless, the asset has lost about 87 percent from its ATH of around $18.87, which was set on May 27.
According to market data provided by Coingecko, Terra Luna has a market capitalization of approximately $378,949,521. In addition, the Terra Luna network reported a daily traded volume of $127,000,112. Notably, the Luna tokens have a circulating supply of 160 million coins and a total supply of 1.04 billion.
By tapping into the NFT market, the Terra Luna network expects to add more to its chain activity. Also, decentralized application developers seek a relatively reliable and affordable blockchain to build.
As such, the Terra Luna ecosystem is determined to provide the most secure smart contract in the tier two industry.
