According to the aggregate chart from Coin98 Analytics, it seems that in recent years, NFT projects have been gaining ground. In particular, the ATH ROI also increased by thousands of percent.
In recent years, #NFTs Projects have arisen strongly, the ATH ROI up to thousands of percent.
Will @MyNeighborAlice, a new NFT project on @Chromia do the same thing in 2021?$MEME $MANA $ENJ $AXS $TVK $SHROOM pic.twitter.com/ZUgeRtrsKm
— Coin98 Analytics (@Coin98Analytics) January 8, 2021
NFT projects have brought in significant profits in recent years, led by Meme and Decentraland
Non-fungible token (NFT) is a crypto token on the blockchain that represents a single asset. It can be purely a digital asset or a tokenized version of the real-world asset. Since NFTs are not interchangeable, they can act as proof of authenticity and ownership in the digital realm.
#1: Meme
According to Coin98 Analytics, the first NFT project to be significantly profitable was Meme. In particular, Meme’s ATH ROI is up to 24,900%. As you all know, Meme started to launch the market as an airdrop for Telegram users. At the time, the project had a market capitalization of $ 3 million and sought to create a niche for itself as a Non-fungible token (NFT).
Meme (MEME) is a non-fungible token (NFT) on the Ethereum blockchain which has become synonymous with the rise of DeFi. Launched in August 2020, MEME is a tongue-in-cheek reaction to the rise of the DeFi token trading phenomenon and the multiple boom-and-bust cycles that it has sparked in its short existence. The project ostensibly has no aim whatsoever other than to exist for its own sake. There is no associated company or business proposition, and MEME’s developers openly state that the token has no intrinsic value.
The indirect creator of MEME is Jordan Lyall, product lead for DeFi at Consensys. Lyall created what he called the Degeneration, a joke tool for launching new DeFi projects in minutes. After posting his work, which poked fun at the ease at which DeFi tokens accrue value based on often dubious premises, the Degenerator itself ended up with its own token from another developer.
Since its launch in mid-August, MEME has grown to hit highs of $1,700 per token. Lyall himself has publicly warned prospective investors via the media not to buy the coin, given that its status as a joke and there was no underlying value proposition. Perhaps MEME’s most recognizable unique feature is its lack of utility — it exists purely for investors to perform classic DeFi activities, and there is no project behind it to give it innate worth.
As with any meme, however, its popularity has become viral and interaction has therefore only increased. Intrinsic value, as such, is not a genuine consideration for investors. The appeal of such a satirical project is likely heightened for DeFi investors who have grown used to earning passive income from tokens via yield farming and liquidity mining, regardless of what the tokens themselves are used for.
As such, MEME does not exist to turn a profit for its creator based on anything other than its own existence and could disintegrate at any moment based purely on traders’ whims.
#2: Decentraland (MANA)
Although a lot lower than Meme, but Decentraland also deserves a second place with ATH ROI at 2.578%.
Decentraland (MANA) defines itself as a virtual reality platform powered by the Ethereum blockchain that allows users to create, experience, and monetize content and applications. In this virtual world, users purchase plots of land that they can later navigate, build upon, and monetize. Decentraland uses two tokens: MANA and LAND. MANA is an ERC20 token that must be burned to acquire non-fungible ERC721 LAND tokens.
#3: Enjin Coin (ENJ)
Enjin Coin is a project of Enjin, a company that provides an ecosystem of interconnected, blockchain-based gaming products. Enjin Coin was first announced in July 2017, and it launched on the Ethereum mainnet in June 2018. Enjin allows game developers to tokenize in-game items on the Ethereum blockchain. It uses Enjin Coin, an ERC-20 token, to back the digital assets issued using its platform, meaning that items can be bought, sold, and traded with real-world value.
At press time, ENJ is trading around $ 0.19, down more than 5% over the past 24 hours. However, the token is still ranked third in the ranking, with an ATH ROI at 1.779%. Referring to ENJ, many people will remember the story of Samsung confirming its partnership with Enjin Coin.
Specifically, on the morning of March 8, 2019, the Korean media simultaneously reported on the cooperation agreement between the issuer of Enjin Coin and Samsung to bring this electronic currency into the Galaxy S10 smartphone. During the introduction of the Blockchain Keystore, the phone maker also displayed an illustration containing the Enjin Coin logo, leading to many speculations that this cryptocurrency will be one of the names that will be supported by Galaxy S10.
#4: Shroom.Finance
Witness the growth of DeFi, one of the successful coins thanks to NFT is Shroom Finance. Started as a fork of SushiSwap, but the coin quickly created its own product. Shroom.Finance was launched at the end of the FOMO fork SushiSwap, which meant its price dropped quite quickly. At the time, the strategy of effective farming was to cultivate the coins as quickly as possible, then dump them to switch to a safe bet like Ethereum or stablecoin.
Shortly after development, Shroom revealed that it has plans for a decentralized game that will involve the “ERC-20 token standards and NFTs (ERC-721, ERC-1155)”. The announcement is not yet clear where the project will go, but it has received interest from analysts like Josh Rager and reputable research firms like Delphi Digital.
And with ATH ROI at 732%, let’s wait and see what this token will do in the future.
#5: Axie Infinity
Axie Infinity is a game built on the Loom Network (a Layer 2 scaling solution for Ethereum, focusing on games). In Axie Infinity, players will collect and nurture fantasy creatures called Axie. Similar to playing Pokemon, you can do quests to collect Axie, team up to fight, buy & sell Axie with other players.
With a roadmap of growth and investment, Axie Infinity is honored to put its name on the chart with fifth place, 406% ATH ROI.
#6: Terra Virtua Kolect (TVK)
In sixth place is Terra Virtua Kolect (TVK) with ATH ROI at 104%, much lower than the three names above but also quite noticeable.
Terra Virtua is the world’s first fully interactive blockchain-based VR entertainment platform. As blockchain continues to evolve into 2020, the technology has gone beyond simply storing cryptocurrencies and finding its way into real estate, healthcare, manufacturing, and entertainment.
Terra Virtua was formed in 2017 by the hands of Gary Bracey and Jawad Ashraf. The two had an idea for a protocol that could promote social entertainment using Blockchain. Not too much information about this project. One of the exchanges with the highest TVK trading volume is BitMax.
#7: My Neighbor Alice
My Neighbor Alice is a blockchain game project where players can build houses, own land, collect, and meet friends. Inspired by many sources (games, stories, …), My Neighbor Alice is a game with gentle frames, suitable for those with entertainment goals and those who like the NFT collection.
Besides, the game is focused on the main player, so the team emphasizes that My Neighbor Alice will be suitable for everyone, regardless of whether they know blockchain technology or not. Therefore, this game is extremely suitable for women. Besides, My Neighbor Alice will use Chromia – a decentralized blockchain to improve user experience with low transaction fees, high speed. This blockchain has been proven to be a flexible blockchain, suitable for decentralized games.
The future of NFT
According to many analysts, the current cryptocurrency market is not ready to explode. In the early stages, the NFT marketplace needs to be interoperable or the ability to exploit and use information. Also, it needs better creators or developers, and then they can use the public platform.
Overall NFT may be good and new technology, but it’s still in its early days of adoption. Even after 10 years, Bitcoin was created, Bitcoin believers tried to convince everyone that digital assets were scarce. Consequently, convincing that the NFT is scarce can be quite a difficult task to complete.
Overall, NFTs should build their own facilities stronger than those who believe in technology and invest in them.
Read more:
- Why Is Ethereum Classic Forecast To Reach $ 7,100 In The Future?
- Bitcoin Cash, Bitcoin SV, DASH Recorded Increases Of Over 50% Over The Past 24 Hours, So Is The Altcoin Season Here?