Five interesting NFT projects bringing the future of Web 3.0
It is no longer surprising that the blockchain industry is a multibillion-dollar sector with equal access and earning opportunities for everybody with even a slight interest or understanding. People’s interest in blockchain is increasing these days as it receives widespread adoption. Furthermore, most countries are warming to it, increasing the likelihood of its long-term viability. It is drawing in talent from across the globe at a rapid rate.
“Everyday the blockchain industry emits over $10M+ USD worth of new currency, the majority of which goes to corporations.
— drshepard (@drshepard_) July 12, 2019
While the crypto industry has experienced tremendous growth in recent months, a relatively new concept has emerged as the new center of interest. NFTs have changed the globe more than anything else in recent months, and they are one of the most lucrative revenue streams in crypto. Entrepreneurs and artists have discovered a new way to generate ongoing revenue and sustained community engagement in exchange for their digital material, which has sparked a new debate over blockchain technology’s possibilities. As a result, there are a number of highly innovative use cases emerging from the industry backed by the utility of NFTs.
Also, read – How NFT is bringing Metaverse to life
Here are the Top 5 NFT Projects
This is one blockchain project using NFTs to create and manage identities. Photochromic battles the security flaws of the organizations and governments that strive to handle personal data corrupt the integrity of people’s identities.
This project uses a programmable, verifiable, universally addressable, and digitally secure NFT to tokenize people’s identities.
PhotoChromic combines biometric evidence of life, government-backed identity verification, social media proof, and distinct individual qualities into an on-chain asset enabling blockchain-based identity verification and Web3 apps.
The creation of non-fungible tokens in recent months has unlocked several possibilities within the blockchain space. NFTs guarantee immutable ownership of virtual property is largely responsible for the virtual real estate boom.
Some believe that as the world gets more digital, the virtual real estate market will one day surpass the physical one. Decentraland is the current market leader in this space, and it’s become one of the busiest exchanges for virtual land and other non-fungible tokens in recent months. Decentraland uses “MANA,” which is an ERC20 token – meaning it’s based on Ethereum’s blockchain. Mana has been booming in recent days and recently hit an all-time high of $4.69. As the world continues to embrace the digital future, Mana is in pole position to be one of the leading projects.
The Decentraland Foundation is committed to transparency and to upholding the security of Decentraland.
Read our latest security update to learn more about what we’ve been doing to keep the community safe.https://t.co/9JHaXGbgOh
— Decentraland (@decentraland) May 3, 2022
Flow is a proof of stake blockchain created by NBA Top Shot creator Dapper Labs for NFT collectibles and crypto games. Flow is a blockchain built for large-scale scalability without the use of sharding techniques, allowing for rapid and low-cost transactions in dapps like NFT markets and crypto-infused video games. Flow’s in-built capabilities allow developers to develop their dapps and extend their creativity.
With its play-to-earn incentive structure, Axie Infinity has become a force in the crypto gaming market that cannot be ignored. Furthermore, the platform has demonstrated the limitless possibilities that exist when cryptocurrency and gaming are combined.
Axie Infinity is a blockchain-based gaming metaverse in which users acquire and nurture digital pets known as Axies, which can then be employed in a turn-based card game. Axies are non-fungible tokens (NFTs) based on the ERC-721 standard, which implies that each pet is a one-of-a-kind digital asset with distinct characteristics. Axie’s earning opportunity makes it one of the most popular NFT projects in crypto.
We’ve put together a post detailing the progress we’ve made on Land Staking.
— Axie Infinity🦇🔊 (@AxieInfinity) May 3, 2022
Another exciting NFT project is the fantasy battle game, Illuvium, which is entirely based on the Ethereum Blockchain. Illuvium offers gamers several perks and features high-quality 3D imagery. This game is both playable and rewarding. The fun part of the project is that each Illuvial is also an NFT.
While there are other NFT-based projects, these 5 have shown great potential and one can only expect more heights and groundbreaking features from these projects as NFTs continue to lead the scene.