Currently, the crypto NFT sector is a heady cocktail of optimism and inevitability surrounding the innovation of NFT technology. Many still consider it to be in its infant stage, thus despite the recent market crash, people are willing to build, experiment, and innovate. The NFT community has demonstrated little to no evidence of being shaken by market difficulties. Steadfast in its resolve.
Retail investors are not the only ones sharing optimism about crypto NFT. Regardless of the current market situation, venture capitalists continue to purchase NFT and Web 3.0 companies.
Crypto NFT News
Despite the decline in cryptocurrency prices and a drop in NFT sales, Meta is on track to continue expanding the usage of digital collectibles on its platform. They see great possibilities for all users to be able to collect digital collectibles, as well as for the millions of innovators who might potentially create virtual and digital items and sell them through Meta platforms.
According to reports, Meta intends to monetise NFTs in the future through fees or adverts. In the long run, Meta anticipates that NFTs will assist in powering its ambition for the metaverse, which it estimates will produce its own impressive $3 trillion economy within the next decade.
Solana (SOL) On A Path To Give Credence To Its Nickname “Ethereum-Killer”
Solana (SOL) stole Ethereum’s spotlight in the NFT sphere by surpassing Ethereum in NFT volume. According to DappRadar data, Solana’s Magic Eden NFT marketplace logged 360,734 transactions in the last seven days, and the total volume of transactions on Magic Eden has topped $1.6 billion.
The newly-launched Magic Eden NFT marketplace, which aspired to be a direct rival to OpenSea, is the key cause for the significant increase in NFT transactions. The marketplace’s excitement, along with Solana‘s decreased transaction costs, played a critical role in the transaction rise. Especially notable in a market demanding cost-efficiency across every transaction.
Can Xchange Monster (MXCH) Grow Bigger Than Axie Infinity (AXS)?
With the incorporation of more in-game assets and coins into gaming, a bridge to link gaming incentives is requisite for asset fungibility. These incentives can take the form of NFTs or native tokens in certain situations, and Xchange Monster (MXCH) will enable users to transfer and trade these assets between games and platforms.
The project’s Monster Wallet connects users to NFT marketplaces and in-game tokens and merges them into one location. Users may transfer these digital assets across networks and even trade them for other in-game material after they have been secured.
As described in this article detailing the project’s goals, Xchange Monster aims to disrupt the crypto GameFi scene and become a strong competitor to platforms like Axie Infinity (AXS). This well-known blockchain NFT-based video game is inspired by the massively successful Pokemon series.
Axie Infinity was designed to make learning about blockchain technology enjoyable, simple, and instructive. The platform is now an important on-ramp to the blockchain sector in many developing countries.
Despite Axie Infinity’s strong position at the top of the cryptocurrency league table for NFTs and gaming, Xchange Monster (MXCH) aims to outperform this blockchain and improve upon its shortcomings.
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Xchange Monster (MXCH)
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