Your trusted WAX news hub releases a new report on WAX and the NFT market. We speculate on its financial future and offer many reasons why the token is a good investment.
Are you interested in the latest news in cryptocurrency and NFTs? There is one token in particular that is expected to be better than the rest.
As the DeFi industry becomes more mainstream, cryptocurrency investors can take stock in the multi-token design of the WAX platform, reveals a new report by WAX Piggy. Built primarily on EOS, the token is projected to vastly appreciate in the near future, with bullish speculations on its financial viability.
Our new report attributes the success of WAX to its dynamic ecosystem that allows you to trade between blockchains for NFTs. Non-fungible tokens, which represent real-world assets, are typically used among artists and gamers interested in trading and auctioning their work in a decentralized marketplace.
Despite initial trends to sell NFTs as one-off purchases, investors now suggest creating, collecting, and trading these digital collectibles for increased profit. With the multi-token design of WAX, you can trade in a variety of different blockchains – including investing in NFTs.
For example, users of WAXP, the main token of the WAX ecosystem built on EOS, can swap them for WAXE, another one of its tokens that is compatible with Ethereum. Because both of these tokens fall under the same ecosystem, transactions are faster, as there is no validation process.
This flexibility, our new report notes, provides higher revenue potential than other EOS-based projects. This is particularly important in the rapidly expanding DeFi industry, where users often look for tokens that offer the best convenience and speed.
Lastly, WAX is still a currently undervalued utility token. Despite its high market projections, many users have still not yet vastly mined the coin, which has made it more affordable than other cryptocurrencies.
We suggest that this will soon change, as gaming giants such as Microsoft and Marvel are expected to adopt WAX on a massive scale. Experts note that the innovative blockchain technology of the token makes it a prominent choice for NFT-focused platforms.
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Disclaimer: The information provided on this page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and it should not be treated as such. This content is the opinion of a third party and this site does not recommend that any specific cryptocurrency should be bought, sold, or held, or that any crypto investment should be made. The Crypto market is high risk, with high-risk and unproven projects. Readers should do their own research and consult a professional financial advisor before making any investment decisions.