Three Altcoins to explore |RMRK Has Been 191% Up During The Last 7 Days, Why Are NFT Tokens So Magical?

2021/11/16 10:37:06

Bitcoin had an interesting week. 9th November, a $3 trillion market cap was reached, up $2 trillion from January. A day later, 10th November, Bitcoin reached a new all-time high with $69,000. Just to drop back to $63,000 the next day. The end of the week saw the highest weekly end ever recorded for Bitcoin. At the time of writing, Bitcoin is just under $66,000. Just remember that BTC started last year at $16,700.

Ethereum keeps rocking the place with a new ATH of $4,858 during last week. In the last 7 weeks, Ethereum’s closing weekly candle was in the green, with the highest weekly close ever last week. Everything is pointing at a breakout. New ATH’s may be in the making over the next few days or weeks. This bull market isn’t over yet!

Last week saw investors focusing on GameFi and NFT tokens. NFT tokens surged, once again continuing and cementing the popularity of NFTs this year. NFT tokens are trendy and for good reasons. The RMRK token was the leader of the pack with a 191% increase, peaking at $38.81. Altcoin season seems to have momentarily halted but is in the starting blocks for the coming bull run.

NFTs and NFT tokens are profiting from the increased interest in the metaverse during the last couple of weeks. That interest is anything but waning. August saw a whopping $5.2 billion in NFT trading volume. Since August, the trading volume has been slightly lower but steady. In the metaverse, especially the part where blockchain technology is used, everything is in the form of an NFT. Avatars, buildings, digital land plots, in-game items, and so on. No wonder the NFT tokens are faring well with this focus on them. There are many more use cases of NFTs in the pipeline, some of which we aren’t even aware of right now.

NFT investors see long-term value in them and believe they will appreciate over time. They have also become status symbols in the crypto world, just like a Lambo. Prices of over $1 million for an NFT don’t raise eyebrows anymore. GameFi is also taking a flight. 58% of all the gaming industry is already taking place with blockchain technology. The Play-to-Earn option is becoming more and more popular.

Today we put the spotlight on the best trending Metaverse tokens during last week in KuCoin, RMRK (RMRK), Wax (WAXP), and Phantasma (SOUL).

Notice: KuCoin does not provide financial advice. Please do your own risk assessment when deciding how to invest in cryptocurrency and blockchain technology.

RMRK (RMRK)

source：btcmanger

RMRK.app ( pronounced remark ) is a set of NFT legos that give NFTs infinite extensibility, hosted on the Kusama blockchain. Kusama in turn can be compared as the test blockchain for dApps for the Polkadot blockchain. In contrast to Solano, there is no need for parachains. RMRK supports users in creating their own NFTs by introducing the “system remark “ function.

The RMRK token is the governance token and can be used for staking and is the currency of the metaverse projects and NFTs can be turned into DAOs. RMRK will have a Token Generation Event. This will take place once the statemint chain becomes permissionless. The RMRK token saw a 191% increase during last week.

Trade RMRK and 500+ other altcoins on KuCoin

WAX (WAXP)

source: blockonomi

WAX stands for Worldwide Asset eXchange and seems to be made for the metaverse. Virtual items such as rare and collectible items in video games and virtual worlds can be traded. Players own their in-game assets in the form of NFTs, and these are probably rare. The players decide when to create in-game items and which ones, not the game owners. WAX is truly a blockchain designed to scale e-commerce transactions.

WAXP is the native token and the whole ecosystem thrives on WAXP. It is used for staking, rewarding, and voting. Token holders are expected to vote every week to maintain their position as a voter and earn rewards. The WAXP token is up 36.32% in the last 24 hours and 84% during last week.

Trade WAX and 500+ other altcoins on KuCoin

Phantasma (SOUL)

souce: medium

Phantasma is a fast, secure, and scalable blockchain solution. Developers can build dApps and facilitate interoperability with other blockchains while maintaining a decentralized governance system. It is the platform of choice for Gaming and NFTs. Their Smart NFTs unlock near limitless possibilities for creators and developers at a minimal cost. Smart NFTs have dynamic properties that can change based on certain conditions. Developers can make decentralized, dynamic in-game items.

The smart NFTs allow for time-based NFTs, multi-layered NFTs, infused NFTs and locked content within an NFT. The latter can only be accessed by the owner of the NFT. The NTFs can be minted at a fraction of the cost compared to other blockchains and they can be minted on-demand.

SOUL is the governance token that can also be used for staking. Staking SOUL generates the fuel token KCAL, the dual token at Phantasma. SOUL is up 41% over the last seven days and almost 400% over the last 30 days.

Trade SOUL and 500+ other altcoins on KuCoin

In conclusion

The price trend of NFT tokens can partly be measured by the popularity of the metaverse. There are plenty of new blockchain-based games released on a very regular basis. The attention span for the metaverse looks to be a long one! There appears to be no immediate end to the increasing interest for NFT tokens.

Since the metaverse is attracting a lot of attention, the near future looks good for NFT tokens.