The non-fungible token (NFT) market slumped in 2022 after booming in the previous year. Projects such as Theta Network (THETA) and ApeCoin (APE) suffered, but investors will hope for a sales rebound. While the market awaits that trend, investors can jump on Uwerx which is seeking to disrupt the world of freelancing work with a new crypto platform.
Theta Network (THETA) was supported in 2021 as the project linked up with artists such as singer Katy Perry for NFT launches. Industry data from Cryptoslam.io found that NFT sales hit highs of around $4.9bn in sales worldwide in January 2022 but fell to around $565m in December. The figure was roughly 80% lower than in December 2021, where $2.8bn in NFT sales were logged.
Theta Network (THETA) started life with its video streaming platform but has moved to adopt NFT tokens. The project is expected to see the full launch of its ThetaDrop NFT marketplace in 2022 and that could improve traction for Theta Network (THETA). However, a full rebound in the coin's price will require an improvement in NFT sales. That may not be happening in 2023 and investors should be hedging their bets this year.
ApeCoin (APE) is another project that will rely on a rebound in the NFT market to see strong gains. ApeCoin (APE) is the native token of the Bored Ape Yacht Club ecosystem. The coin was launched at the tail-end of the bull market and slumped with the market. The coin was then hit by an investigation from the SEC into Yuga Labs founder of the Apes phenomenon.
ApeCoin (APE) saw a high of $7 billion in its market cap, but the project has since fallen to $1.8 billion. The floor price of the Ape collection has been stubborn over the last year and ApeCoin (APE) could move ahead once more. The move may be slow as there is less liquidity flowing around in the market for investments in the likes of NFTs. Although THETA and APE could see some positive price action in the future, we believe it would be advantageous to seek opportunities with higher growth potential.
Uwerx has the potential to catch up to the valuations of Theta Network (THETA) and ApeCoin (APE) if the NFT revival is slow. Uwerx is looking to disrupt the market for gig economy platforms and is a real threat to the likes of Upwork and PeoplePerHour. By bringing a blockchain based protocol into the freelance industry, Uwerx can muscle into a fast-growing market and give power back to freelancers.
Theta Network (THETA) is more at risk of being caught with a market valuation of $800 million. Upwork has a valuation of around $1.6 billion, highlighting the bar for Uwerx to grab market share and challenge the top levels of crypto projects. Uwerx can do that rapidly with fast development, as the project will improve on the current offerings with ledger technology. Uwerx is looking to cut fees and can increase payment speed, and that will create fundamental advantages over traditional freelancing platforms.
Analysts predict that Uwerx has the potential to reach blue-chip crypto status and has the likelihood of being used by millions of an ever-growing global workforce. By clicking on the links provided, you can participate in the most cutting-edge crypto presale of 2023.
The confidence of investors, analysts, and experts in the legitimacy and potential success of Uwerx has been further bolstered by the project's decision to lock its liquidity for 25 years after the presale. Additionally, the smart contracts of the project have undergone a rigorous audit by InterFi Network and Solidproof, and have been found to be fully compliant. Recently, the team made it clear that they would be renouncing all contract ownership of the project when it is ready to be listed on centralized exchanges. Investors who are interested can get in on the action by following the links below and be part of a 25% bonus on the all investments made.
Presale: invest.uwerx.network
Telegram: https://t.me/uwerx_network
Twitter: https://twitter.com/uwerx_network
Website: https://www.uwerx.network/
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