2022 has been an interesting year for non-fungible tokens (NFTs). A report has shown that NFT marketplaces have received NFTs worth more than $37 billion in the first half of the year. For comparison, collectors sent $40 billion of non-fungible tokens to NFT marketplaces and other collectors in the whole of 2021.
NFT transaction volume has shown some growth since the beginning of the year despite the overall cryptocurrency market experiencing price declines. There have been several exciting NFT projects and ApeCoin (APE) has been one of them. Axie Infinity (AXS) is a well-known play-to-earn game that utilizes NFTs. Mushe (XMU) is a new but one of the best projects that investors can look at.
Apecoin (APE) is a utility and governance token of the APE ecosystem. The project wants to empower Web3 development and community building. As a governance token, ApeCoin token holders govern themselves through ApeCoin DAO, a decentralized autonomous organization. APE token holders can propose new ideas and vote on them.
ApeCoin is a project closely linked to the Bored Ape Yacht Club NFT collection. This successful NFT project was created by Yuga Labs and has attracted the attention of celebrities such as Kevin Hart.
The launch of the ApeCoin was imminent as the project has solid ground to start from. ApeCoin has a strong community and most importantly, has introduced high-profile people to the world of cryptocurrencies. Its association with big names makes it a trusted project, and ApeCoin stands to benefit from this.
APE is one of the best NFT projects to buy in 2022 because it will continue to draw its success from the Bored Ape Yacht Club NFT collection.
Mushe is a cryptocurrency focusing on peer-to-peer transactions. The native token XMU powers the Mushe ecosystem.
Mushe has also found a creative and sustainable way to make NFTs a big part of its system. XMU token holders can buy Mushe NFTs that represent fractional ownership of the services offered in the Mushe ecosystem. The Mushe wallet will be used to store the NFTs minted on the platform. Investors can buy their XMU token during the ongoing Mushe presale.
Mushe will reward early adopters as the token will appreciate in time. Mushe will be creating a metaverse where users can use their Mushe NFTs to socialize and create content that earns them income. Mushe will also be developing play-to-earn blockchain games that incentivize players with cryptocurrency.
Mushe will also integrate decentralized finance (DeFi) into its ecosystem. This is to allow people to have access to state-of-the-art decentralized financial services. The Mushe ecosystem currently runs on the Ethereum blockchain but there are plans to support several other blockchains down the line. This helps to bring more people to the Mushe ecosystem and to benefit XMU token holders.
Axie Infinity (AXS)
Axie Infinity is a blockchain-based battling game that gives part ownership to the players. The players can collect, trade, breed, and battle digital creatures known as Axies. Each Axis is an NFT.
Axie Infinity has enjoyed its growth as more people are interested in earning from gaming. Gaming is a major industry that has benefited game creators at the expense of the players. With blockchain’s play-to-earn model, the future of gaming looks bright, and Axie Infinity is at the heart of it.
NFTs and the Future
NFTs are following a trajectory similar to cryptocurrencies. Digital assets took long before many people understood them, let alone use them. However, new cryptocurrencies have shown that they deserve to be a big part of the crypto ecosystem.
This is the same with NFTs. Mushe might be in presale but it could be a big hit in the future as it intends to expand into the metaverse and blockchain gaming.