Nonfungible tokens (NFTs) represent an exciting development in the ecosystem of cryptocurrencies. These representative assets often take the form of artworks or creative pieces, the ownership of which is digitally confirmed by a representative token.
By this method, they serve as unique assets to their owners, granting them exclusive ownership over a specific piece of art, be it an image, a concept, or even a song. The value of each NFT, then, varies greatly depending on the perceived rarity or individuality of the work as well as the blockchain their digital identity is encoded upon.
The potential use cases for this technology are almost endless. Near enough anything you can think of could be turned into an NFT – a process that some proponents call ‘Minting.’ The most common application of the theory is in the release of digital artworks that boost the offer of a cryptocurrency or blockchain project.
Continue reading to learn about three cryptocurrencies that have embraced NFTs and the benefits they can bring to crypto projects. The three coins we’ll analyse are Big Eyes Coin (BIG), TRON (TRX), and Shiba Inu (SHIB).
Big Eyes Coin (BIG) is an up-and-coming meme coin that’s had an immediate impact in the cryptocurrency marketplace: the presale phase of the coin has secured more than $8M in funding already.
One of the big plans of the team behind Big Eyes is the integration of NFT artworks specific to the coin. Holders of these NFTs will have exclusive access to bonus features and exclusive spaces, helping foster a thriving community and a self-propagating economy with NFTs as a key component.
For example, owners of Big Eyes NFTs will be able to access the Sushi Club, a hangout for investors to meet and greet like-minded NFT enthusiasts. In the future, the developers of the coin plan to release snippets of upcoming NFTs on social media to generate hype, and eventually host live events celebrating the coin’s NFTs.
The team’s aspirations go further: it wishes for the Big Eyes collection to crack into the Top 10 rankings of NFTs worldwide. This lofty goal might be more plausible than it seems, as the coin’s furry mascot, Big Eyes the cat, is a picture-perfect specimen for NFT art.
Quirky, funny, and oh-so-adorable, this coin’s poster kitty is exactly the kind of character that captures the hearts and minds of the internet. So too may he peak the interests of NFT enthusiasts.
Fellow meme coin Shiba Inu (SHIB) recently debuted their collection of NFTs on the token’s associated exchange, ShibaSwap. The launch was a success: within 24 hours, the collection was sold out, and the team developing Shiba Inu have promised that more will come in the future.
Shiba Inu’s (SHIB) NFTs took the form of the coin’s symbol, the Shiba Inu dog, with randomised costumes, props, and alterations to make each artwork unique. These portraits of the coin’s mascot are called ‘Shiboshis.’
Buyers could also rename their NFTs by burning SHIB tokens – when more of the currency’s token supply is burned, the value of the remaining tokens is expected to increase. In this way, the Shiba Inu (SHIB) team cleverly allowed NFT users to further personalise their digital assets while supporting the financial evolution of the project.
The plans for these inked Inus go further than simple ownership, however. In the future, Shiba Inu (SHIB) plans to launch a digital gaming space, where these NFTs will serve as avatars and characters. Specific Shiboshis will even have individualised skills and abilities, integrating NFT ownership into the proposed gaming universe.
If the development team behind Shiba Inu (SHIB) can live up to the promised gaming universe they envision their NFTs fuelling, this coin will undoubtedly benefit from NFT integration.
Another coin making promising strides in the developing world of NFTs is TRON (TRX). Currently ranked 16th globally for cryptocurrencies, TRON (TRX) prides itself as a project reliable enough to be listed on over 100 exchanges worldwide.
The platform expanded recently, seeking a breakthrough in the evolving market of NFTs. The launch of its proprietary platform, NFTONE, saw untold amounts of NFT artworks offered for purchase, with the TRON (TRX) token serving as the basis for commerce.
The variety of art for sale on this futuristic marketplace boggles the mind. Everything from fine art reproductions to abstract images of lobsters devouring fish is available for unique purchase as an NFT. Buyers certainly won’t lack choice when shopping on NFTONE.
The unique selling point of NFTONE, however, is its enticing low fees. Due to the one-of-a-kind software architecture that the TRON (TRX) team has built their platform on, they can guarantee that transactions through NFTONE have among the lowest fees of all current NFT markets.
The fact that TRON (TRX) and its developers have so confidently entered the NFT universe should encourage prospective investors – and the scope of NFT content listed on the slick NFTONE platform only helps to bolster these good omens.
Through the examination of these three cryptocurrencies, we can see that among the most promising currencies at the moment, there is a strong move toward NFT integration and even reliance on NFTs as major parts of coins’ ecosystems.
As the future looms over the crypto world, one thing seems certain: NFTs have only just begun to show their true potential. Those coins brave enough to invest their time and effort into this technology as a long-term prospect are those that savvy speculators should keep a close eye on.
If you’re excited enough to want in on the action right away, the aforementioned Big Eyes Coin (BIG) is offering bonus tokens for a limited time. You can claim these at checkout by using the code: BEYES945
Big Eyes Coin (BIG)
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