NFTs? No. NFT Coins? Yes! Here are 3 Cryptos to Watch Out For
Non-fungible tokens, or NFTs, have taken everyone aback when they rose to global popularity throughout 2021.
NFTs are fantastic in that they allow creators and artists to secure their pieces of work digitally and give them the ability to easily generate income from them. Many people have indeed made fortunes out of NFTs already. But analysing NFTs, just like analysing art, is complex and not accessible to everyone. How do you find the next collection that will blow up?
If you are willing to gain exposure to NFTs but do not commit then you can invest in NFT-focused cryptocurrencies instead, providing you with indirect exposure to them. Following are three of such coins, one of which, Pac-Man Frog (PAC), is still in its presale!
ApeCoin (APE).
It’s now been almost a month and a half following the explosive market launch of ApeCoin (APE), the new Ethereum-native cryptocurrency of the APE ecosystem, which also includes the now-famous Bored Ape Yacht Club (BAYC) NFT collection.
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For those unaware of Bored Apes, they are an NFT collection consisting of 10,000 algorithmically-created profile pictures featuring a single monkey with different characteristics for each NFT. Each of these characteristics has a different rarity level, making some of these Bored Apes more coveted and expensive than others.
This collection attracted great attention and saw numerous celebrities being seduced by the collection’s aesthetics, exclusivity, and perks. Indeed, owners of Bored Apes NFTs can be invited to special events taking place in luxurious settings such as private mansions or yachts.
Consequently, ApeCoin quickly rose to the top of the most traded and purchased tokens within the 1,000 biggest Ethereum (ETH) wallets following its market debut. Indeed, since its inception a month and a half ago, APE is up nearly 200%, now being exchanged for around $20.80.
Leading cryptocurrency exchanges like Coinbase and Binance have now listed the coin on their platforms, setting high hopes regarding the future of ApeCoin, the underlying BAYC NFT collection, and the overall APE ecosystem.
Enjin Coin (ENJ)
Enjin Coin (ENJ) is an NFT and gaming-focused ERC-20 token that is worth checking out.
The Enjin platform is a pioneering blockchain-based game technology launched all the way back in 2009 that enabled users to easily create virtual communities, digital marketplaces, and other social activities.
Enjin has come a long way from there, launching its own cryptocurrency in 2018, now featuring the top 80 largest cryptocurrencies.
Now, Enjin’s blockchain-based ecosystem allows users to create NFTs and other gaming items by locking a certain amount of ENJ tokens. Basically, ENJ tokens are locked inside these NFTs when created, and the number of ENJ required varies based on the NFT’s rarity and popularity. This in turn reduces the number of ENJ tokens in circulation, making them scarcer and more valuable as Enjin’s ecosystem grows and more users create ENJ-based NFTs.
Because ENJ-backed assets "contain" a certain amount of tokens, this mechanism ensures that they have actual value. Users can also decide to “melt” their NFTs, and subsequently get the underlying ENJ tokens back.
The total supply of ENJ is limited to 1 billion tokens, with 88% already in circulation. One ENJ currently costs $1.29, lower than its historical average, indicating a potentially attractive price for investors seeking indirect exposure to NFTs and blockchain-based gaming.
Pac-Man Frog (PAC)
Pac-Man Frog (PAC) is an exciting GameFi (gaming finance) and NFT-focused token currently in its presale.
While currently in presale, Pac-Man Frog appears as a promising project in the still-emerging fields of GameFi and NFT thanks to its ambitious ideas and innovative ecosystem.
As a platform dedicated to gamers and NFT developers, Pac-Man Frog is aimed at providing an end-to-end solution that would streamline the creation of digital assets and decentralised applications (dApps), as well as create an attractive environment for the creator economy.
Presales are interesting windows of opportunity as they provide investors with the possibility to quickly multiply their initial investment, something that is hardly possible with more established cryptocurrencies. Naturally, as with any investment providing higher return prospects, the level of risk increases substantially, which is why it is crucial to conduct in-depth research before any investment.
Based on the general trend experienced by emerging tokens when they launch on the market, it remains very plausible that PAC experiences a surge in price in its initial phase.
For anyone interested in learning more about this upcoming project, its whitepaper is available publicly on Pac-Man Frog’s website linked at the end of the article!
Learn more about Pac-Man Frog:
Website: https://pacmanfrog.io/
Presale: https://presale.pacmanfrog.io/register
Telegram: https://t.me/PACMANFROGOFFICIAL
Twitter: https://twitter.com/PacmanfrogToken
Instagram: https://www.instagram.com/pacmanfrogsocial/
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Source: Legit.ng
