Top cryptocurrencies, protocols and blockchains for NFTs in 2022 – CryptoMode
Non-fungible tokens (or NFTs) is a relatively new entry to cryptocurrency lexicon, they are a new type of token that became prominent, especially with the escalation in value and demand for relatively early collections such as Cryptopunks which was launched in 2017 on the Ethereum blockchain.
We take a look at the benefits of two popular blockchains for NFTs (Ethereum and Solana) as well as the early stage of crypto. Mehracki Token (MKI) which includes a unique approach to NFTs as part of its ecosystem.
NFT Collections Cryptopunks and Bored Apes built on Ethereum (ETH)
Ethereum (ETH) is the second largest cryptocurrency when it is ranked by market value according to CoinMarketCap, just behind the first ever crypto-Bitcoin (BTC). In the form of DeFiEthereum is the largest of all blockchains when ranked by total value locked in protocols built on it with a dominance of 63.92% at the time of writing according to DefiLlama.
Just like DeFi, Ethereum dominates NFT market in the form of share with a report by JP Morgan published in January 2022 which estimates the blockchain’s NFT dominance to 80% – however, this is a fall from about 95% at the beginning of 2021.
Popular NFT collections on Ethereum include Cryptopunks, which was the most valuable and coveted collection until the Bored Ape Yacht Club (BAYC) surpassed it in late 2021. BAYC is also built on the Ethereum blockchain, further contributing to the dominance of NFT- is and presence. to have the most recognizable collections built on its chain.
Solana (SOL) is becoming popular for NFTs and DeFi
CoinMarketCap lists Solana (SOL) as the ninth largest cryptocurrency when it is ranked by market value. It’s Solana’s original cryptocurrency blockchain which is a top competition against Ethereum for both DeFi and NFTs, and Solana is the fifth largest blockchain for DeFi in TVL according to DefiLlama.
Like Ethereum, Solana is a smart contract platform and NFTs can be embedded on the network. Meta recently announced that they would integrate NFTs on Facebook and Instagram social media platforms, and the first blockchains that had the NFTs integrated included Solana, Polygon, Flow and Ethereum.
Feel-good finances, rewards and NFTs with Mehracki Token (MKI)
Mehracki Token (MKI) used for utility and management as part of the Mehracki ecosystem and protocol. The ethos of Mehracki Token (MKI) is to create a feel-good cryptocurrency economy and community.
First and foremost, the cryptocurrency will be integrated into “feel-good” industries, starting in the tourism and hospitality sectors. Secondly, users are encouraged to keep the Mehracki Token (MKI) for the long term with passive income through efforts as well as high-yielding liquidity farming activities.
As another incentive, Mehracki Token (MKI) will be minting feel-good NFTs which will be distributed exclusively to token holders. Another use case for NFTs on the Mehracki ecosystem is for partners in the tourism and hospitality sectors, who can issue NFTs to represent goods and services such as hotel bookings.
Mehracki Token (MKI) is currently on pre-sale and will be launched on August 22, 2022.
Good long-term investments?
Many NFTs have gained their value from scarcity, exclusivity and speculation for the most part, but this is not always the case. In fact, use cases for NFTs are always growing, especially with the emergence of metaverse projects such as The Sandbox and Decentraland, which, for example, integrate support for NFTs as assets in the game.
Blockchains and protocols for NFT such as Mehracki Token (MKI), Ethereum (ETH)Even Solana (SOL) will probably emerge as one of the best long-term investments when the crypto market recovers.
Mehracki Token (MKI)
ADVANCE SALE: https://buy.mehracki.io/register
WEBSITE: https://mehracki.io/
TELEGRAM: https://t.me/Mehracki_Official
Always conduct proper research when dealing with the pre-sale of currencies and tokens. The information above does not constitute investment advice from CryptoMode or its team, nor does it reflect the views of the site or its employees.
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