2022 will be the year of crypto and blockchain regardless of how long the bear market will stay, and there are some good reasons for that. What we are witnessing at the moment is a rise in cross-chain DeFi DApps and the application of NFTs, where the former is finally becoming more accessible for the general folks while the latter is being used in blockchain gaming.
NFTs or non-fungible tokens are blockchain-based tokens representing a unique asset like a piece of art, digital content or media. Although, until recently, these were used only for the reasons mentioned above, with blockchain gaming, they became in-game items that can be earned, traded or sold. Such a development will again put NFTs under a spotlight and make blockchain gaming one of the most lucrative industries in crypto.
New Generation of DeFi
CashFi (CFI) is a next-generation DeFi protocol that plans to revolutionise the industry through collaboration and interconnection. The platform would provide a secured liquid staking infrastructure, which would allow its users to move the stakes funds at any moment. Subsequently, users would be able to unlock liquidity for a higher yield through the native token (CFI) compared to other cryptocurrencies.
Another core feature of CashFi (CFI) is that it will create its own NFT marketplace, offering a quality cross-chain minting crypto NFTs that can be done quickly and at low fees.
CashFi (CFI) has plans to solve the current problems with NFTs by providing a UX infrastructure that allows users to create their own NFT marketplaces. In doing so, CashFi will supply all the tools for users and offer cross-chain and cross-platform interoperability.
Users would be able to use the platform’s adaptable CFI NFT marketplace infrastructure to design unique marketplaces for specific NFT and crypto artists. CashFi (CFI) has plans to overtake NFT marketplaces like OpenSea or LooksRare with this unique feature.
Start Second Come First
Ethereum, a project launched in the summer of 2015 after the inception of Bitcoin, was envisioned as a “global supercomputer”, allowing its developers to publish and execute DAapps powered by smart contracts — programmable scripts that control the flow of digital assets.
Ethereum’s native cryptocurrency, Ether (ETH), provides an incentive in securing and maintaining the network and is used as “gas” to run transactions through smart contracts. Currently, more than 70% of all NFTs are made on the Ethereum blockchain, making it the most popular choice for NFTs by a long shot.
There is an upcoming game called Illivium, which is an open-world fantasy battle game also built on the Ethereum blockchain, where players would be able to earn (ETH) while playing the game. Apart from providing a first-class source of entertainment, Illivium players would be able to even engage in DeFi activities, like staking, through a range of collecting and trading in-game features. The synergy behind Ethereum, gaming and NFTs is undeniable and should be enough to persuade everyone to HODL (ETH) for as long as possible.
Solana Rising in Ranks
Solana (SOL) is a Layer 1 Blockchain project aimed to produce a platform enhanced for scalability, which would also enable developers to create DApps on a mass scale. Although Ethereum has rightly claimed the crypto NFT throne, Solana (SOL) has the capacity to change this status quo.
The most significant factors contributing to it are that Solana NFT marketplaces are the fastest chains and can operate at a low gas fee. These features have made transacting NFTs on this chain cheaper and more convenient than on other blockchains.
However, the cherry on top is the upcoming Star Atlas game, the first AAA* game created using the Solana blockchain. Star Atlas is developing a unique gaming experience by combining blockchain mechanics with traditional game experience, where users can fully embrace the potential of decentralised self-sovereign ownership of assets permitted through the implementation of blockchain into asset ownership and NFT marketplaces.
Food For Thought
Each project that we have considered today has the potential to explode in the near future, precisely because of its direct connection to NFTs and DeFi. Both crypto sectors are on the rise, and with the help of the blockchain gaming industry, for CashFi (CFI), Solana (SOL) and Ethereum (ETH), the sky’s the limit.
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