Technology development is revolutionizing every sector in the world. And the finance sector is no exception. Over the past two decades, the financial sector has seen numerous changes that turned it upside down. One of those revolutionary changes is Non-Fungible Tokens (NFTs). Though the word NFT has always been used with cryptocurrency, they are not the same.
What Is an NFT?
Non-fungible tokens are a type of digital record of ownership. Its uniqueness and authenticity make it an intellectual property certificate. As every NFT has its specifications, it can not be exchanged.
NFTs are used in games, arts, music, sport, fashion, and other different markets for several purposes. Instead of buying a physical asset, you could buy a digital version of it. The buyer of the digital asset will be assigned an exclusive ownership right in the form of NFTs. Since NFT can be assigned to only one owner at a time, your digital assets will be safe. Moreover, whenever a person makes an NFT transaction, it is recorded on the blockchain. It helps to trace back the source of a particular digital asset.
NFTs can be any type of digital file. Initially, most marketplaces were using it for digital artwork. But as the popularity grew, marketplaces started to support videos, audio, games, memes, and GIFs. Adidas, patron and gap are a few examples that are incorporating physical NFTs in their brand.
Theta Network
Theta is a peer-to-peer video delivery network built on the blockchain. It focuses on facilitating seamless high-bandwidth content delivery. Theta features its cryptocurrency THETA which performs various governance tasks within the network. It enables video creators to create and stream the video and receive incentives in the form of THETA tokens from the users who view their videos. The consumers can earn rewards from Theta Network for sharing their storage or bandwidth on devices like PCs, mobile phones, and smart TVs. Users can also earn more rewards by sharing the videos through Edgecast and other DApps. These rewards can be withdrawn from the centralized wallet and sold for cash. Theta network also allows developers to build NFTs, DeFi, and DAO. It has attracted strong partners like Google, Samsung, and Sony.
THETA token has been trading in the green for the past three years. But it has been experiencing a heavy downfall since May 2022. At the time of writing, the coin was trading at $0.96, which is 93.96% lower than its all-time high value.
ImmutableX
ImmutableX is a layer-2 blockchain platform that simplifies the creation of NFTs and solves the scalability issues for NFTs on Ethereum. It offers near-zero gas fees for minting and trading NFTs. ImmutableX uses an engine called Zero-Knowledge Rollup to achieve scalability that can facilitate up to 9,000 transactions per second. IMX is the ERC-20 utility and governance token of ImmutableX. It is used to pay the transaction fee and incentivizes users and developers on the platform. Users can earn IMX by trading NFTs and building applications to contribute to the growth of the platform. The token has been witnessing a price fall since late 2021. But since the beginning of 2023, it has been reviving from the slump. Over the past 30 days, the token has witnessed a surge of 7.3%. But in the past year, it lost 37.5% in its price.
Dogetti Aims To Transform The NFT Market
Dogetti is the new meme coin in the market that promised to offer a new type of digital asset through its NFT project called DogettiNFT. It can be an Audio, Video, Meme, or any kind of digital collectible. The important feature of the DogettiNFT is they have the potential to breed in the future. This means the holders will be able to grow, breed and sell other DogettiNFTs in the market for fiat or crypto. It allows the holders to generate wealth through them. These non-fungible tokens also allow the users to adopt their Dogetti puppy, which can be used as a digital companion. Dogetti even announced it would include the most advanced metaverse and P2E project in the future.
The native token of the Dogetti is called DETI, which acts as a utility and governance token. In its 2nd stage of the presale, Dogetti aimed to raise 4 million dollars. The 2% reflection protocol introduced by the project team is getting attention from the investors as it can grow their wallets. And it also offers a 25% bonus to those who spend on DETI tokens using the code WISEGUY25.
According to the Verified Market Research report, the overall NFT market is expected to rise to $231 billion by 2030. With a vision for the future, Dogetti is aiming to top the NFT market before that.
Find out more about Dogetti (DETI):
Presale: https://dogetti.io/how-to-buy
Website: https://dogetti.io/
Telegram: https://t.me/Dogetti
Twitter: https://twitter.com/_Dogetti_