NFT projects drive innovation forward
In recent years, the world of cryptocurrency and blockchain technology has seen a surge of innovation and progress. Leading this charge are top projects like Yuga Labs, Azuki, and RFTKT, who have the budgets and resources to push the boundaries of what is possible in the industry.
One of the most notable examples of this is the BAYC project, which brought the concept of an airdrop mainstream with BAKC and then subverted it with the airdrop + additional supply with MAYC. This innovative approach to token distribution has had a major impact on the market and has been widely adopted by other projects.
Another project that has had a major impact on the industry is Azuki, which innovated with ERC-721a. This new standard for non-fungible tokens (NFTs) has completely changed the industry and permanently lowered gas fees for all future projects. This innovation has allowed many L2 or Alt projects to come back to Ethereum, as it has reduced the cost of creating and managing NFTs.
Moonbirds is another project that has made a significant contribution to the industry. They have augmented staking with nesting, which is a unique approach to token holding that has been well received by the community. Once these contracts are released, they are reviewed and absorbed by future projects, which helps to further drive innovation in the industry.
Manifold is a project that is doing particularly well in the art-focused market. They are focused on creating new and innovative ways to use blockchain technology in the art world, and are doing so in a way that sets them apart from other projects.
“We are standing on the shoulders of giants,” said Malachi of NFTCulture, an industry expert. “These projects are trailblazing new frontiers in the world of cryptocurrency and blockchain technology, and we should appreciate their work and learn from their examples as we continue to push the boundaries of what is possible.”
It is clear that the top projects like Yuga Labs, Azuki, RFTKT, BAYC, Moonbirds, and Manifold are driving the market forward and pushing the boundaries of what is possible in the world of cryptocurrency and blockchain technology. We can expect to see more innovation and progress in the future as these projects continue to lead the way.
What are NFT airdrops?
NFT airdrops are a popular way for projects to distribute their tokens to holders and community members. There are several reasons why an NFT airdrop may be initiated, such as for holding a certain NFT in a wallet, promoting a brand, participating in a giveaway, or even as a gift for marketing purposes.
It’s worth noting that NFT airdrops can be extremely valuable. A prime example of this is the Bored Ape Mutant Serum. Holders of Bored Ape Yacht Club NFTs were airdropped variations of the Mutant Serum NFT, which quickly began selling for thousands of dollars on secondary NFT marketplaces. In fact, on January 2, 2022, a Mega Mutant Serum sold for an astounding 1,542.069 ETH, equivalent to $5,907,542.97.
What is NFT Staking?
NFT staking is a way for holders to park their assets on eligible platforms in exchange for rewards. These tokenized assets can also support proof-of-work blockchain networks. One of the main benefits of staking NFTs is the ability to earn passive income and increase scarcity for the specific NFTs being staked, as they are taken off the open market and not available for resale.
To stake NFTs, holders will need a crypto wallet and to connect it to an NFT staking platform. Similar to cryptocurrency staking, these platforms operate on specific blockchain networks. The process of staking is confirmed and authenticated through the use of a smart contract, which is a digital agreement that exists on the blockchain.
