Over the last year or so, there has been some slight maturation in the NFT space. Older NFT projects' ecosystems are starting to grow, resulting in the creation of the NFT coin. Within their respective communities, the majority of these native cryptos are used as a form of payment. They also occasionally feature ownership and voting rights.
The market capitalization of NFT cryptos is currently around $33 billion. The total market cap of all cryptos has surpassed $2 trillion. As a result, NFT cryptos account for less than 2% of the total crypto market, indicating that the industry is still in its early stages.
There are three projects, however, that have been gaining momentum. You should keep an eye on them if you're interested in profiting from anything NFT-related. Let's take a look at ApeCoin (APE), Decentraland (MANA), and Parody Coin (PARO) and see why they might be the best investments in the sphere.
ApeCoin (APE) powers the Bored Ape Yacht Club NFT collection. Since last year's buzz about NFTs, this collection has rapidly evolved into a digital ecosystem, and it's the world's largest blue-chip NFT collection.
ApeCoin (APE) is BAYC's native currency. The ApeCoin (APE) DAO is the entity in charge of it. This means that anyone who owns ApeCoin (APE) can vote on the future of the community. Remember that its plans are still mostly unknown, however, it should comprise a virtual community, metaverse, and possibly P2E gaming.
Despite the hype, ApeCoin (APE) is still regarded as a high-risk investment. They haven't delivered much other than a high-quality promo video. With YugaLabs' resources and reputation, however, it's easy to see this project taking off. If this happens, ApeCoin (APE) could quickly become one of the top NFT cryptos to own.
ApeCoin (APE) was also only released at the end of March, and in light of how it propelled itself into the CoinMarketCap rankings within a matter of weeks, it could be a worthwhile investment.
Decentraland (MANA) is another popular Metaverse project. It more closely resembles a digital world than it does a game. Users can hang out in Decentraland (MANA), attend virtual events, and buy things. The purchasing of digital assets is accredited to the platform's widespread appeal. For their avatars, users can buy and sell digital land, estates, and wearables.
Decentraland (MANA) benefits greatly from the fact that many people consider it to be one of the top Metaverse projects. As more people enter the market, it will be considered a natural place to start. This is particularly useful in brand-new industries like the Metaverse.
If the DeFi space becomes more popular, MANA could become one of the top NFT cryptos to own. MANA has a market capitalization of $4.4 billion.
The creators of Parody Coin (PARO) were frustrated by the absurdly high prices that popular NFTs were fetching, as well as the fact that NFTs had become a status symbol for a select few to flaunt.
As a result of this frustration, Parody Coin (PARO) was created. Users can mint 'parodies' of popular NFTs, which they can then buy, sell, and trade on the platform's marketplace dApp.
Parody Coin (PARO) ecosystem has its own dApp store. According to the White Paper, the team's long-term goal is to allow third-party developers to create and launch applications within the ecosystem. These dApps will provide a variety of services, including those that help with parody NFT minting, trading, and use.
Nevertheless, Parody Coin (PARO) appeals to those who have no idea how to mint NFT parodies – holders can still earn passive income through three other streams: reflection, staking, and via the ParoRewards system.
Furthermore, the Parody Coin (PARO) token appears to be very efficient crypto, as it has its own multichain swap and bridge. Interoperability is pretty hard to come by on the blockchain.
The first stage of the Parody Coin (PARO) presale has just begun, allowing potential investors to purchase the token at its lowest price ever. While PARO is currently trading at $0.002, if demand increases, the price will surge, granting presale investors huge returns.
If you're looking to invest in a different presale, the Caprice Finance Token (CFT) is a multichain token that will run on the Ethereum (ETH), Binance (BSC), and Polygon (MATIC) blockchains. The platform plans to devise Metaverse and NFT solutions by optimising blockchain technology.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.