Whilst individual non-fungible tokens (NFTs) come and go, the market is here to stay and CoinMarketCap reports that the market cap of the NFT sector exceeds $10 billion, based on data sourced from SolSea, Binance NFT, and Rarity Sniper. FIREPIN news…
To put it into perspective, the NFT sector as a whole has a higher market cap than many of the top 20 cryptocurrencies, including Avalanche (AVAX) and Shiba Inu (SHIB).
If you want to mitigate the potential volatility and risk associated with trading individual NFTs, an alternative way of getting involved with the sector is to invest directly in tokens and protocols that feature a successful NFT marketplace prominently in their ecosystem. In this article, we explore why Binance Smart Coin (BNB) is a fine example of a successful NFT marketplace, in addition to Cronos (CRO) and newcomer FIREPIN Token (FRPN) great potential.
Binance Smart Chain (BNB) And The World’s Largest Crypto Exchange
Binance Smart Chain (BNB) is the cryptocurrency of Binance Exchange, the largest cryptocurrency exchange in the world, and its blockchain Binance Smart Chain. The token was launched in 2017 to be a utility token that would grant access to discounted trading fees and has constantly evolved to serve more roles as the Binance ecosystem grows.
In 2021, Binance launched ‘Binance NFT’ which includes a marketplace and trading platform. On the marketplace, creators can list their original NFTs for other users to purchase. The trading platform is a secondary marketplace for NFTs, meaning that users can list NFTs that they have acquired for resale.
Binance charges a transaction fee to Binance NFT users on trades, sales, purchases, etc. These fees are paid in BNB, meaning that the more active the community on Binance NFT and the more transactions occurring will bolster the utility value of the token.
Community-Driven FIREPIN Token (FRPN) Pioneers ‘Child NFT’ Innovation
FIREPIN Token (FRPN) is the utility and governance token of FIREPIN, a “community-driven” protocol that features an ambitious ecosystem, that includes Metaverse game development – the FIREPIN Swap portal, and the FIREPIN NFT Platform. On the NFT platform, users can trade their NFTs, as well as subdivide them into child NFTs – a major innovation pioneered by the team.
Users can stake their FIREPIN Tokens (FRPN) to earn extra revenue on their holdings, and as the network uses a proof-of-stake consensus method, staking tokens also confers voting rights on major network decisions.
This crypto is currently in the final stage of its presale event and it launches on May 27th. During the presale, those looking to purchase FIREPIN Token (FRPN) can enjoy a relatively low price before launch.
Create NFTs and NFT Marketplaces on Cronos (CRO)
Cronos is the official token of Crypto.com and it’s currently listed among the top 20 cryptocurrencies ranked on CoinMarketCap. The token was previously called ‘Crypto.org Coin’ and changed its name to Cronos (CRO) in April 2022.
Crypto.com is a Singapore-based cryptocurrency exchange that has two blockchains: Crypto.org Chain and Cronos Chain. Cronos Chain is the first blockchain with interoperability between the Ethereum and Cosmos networks, it features an SDK for building and deploying smart contracts (including dApps and NFTs). Users can also import existing code from Ethereum.
NFTs created on Cronos can be bought, traded, and sold on platforms like CroSea, an NFT marketplace built on the Cronos Chain, and the Crypto.com NFT marketplace.
So there is a lot of potential when buying NFT cryptos, and pay particular attention to FIREPIN Token (FRPN) as buying into it, especially in its pre-sale stage could bring about big returns in the long term, because of its premium price right now.
Find Out More About FIREPIN Token (FRPN):
Join Presale: https://presale.firepin.io/register