Bancor Smart Tokens Provide Solution to The Issue of Liquidity 331

There are many facets to the notion of liquidity. Liquidity may be defined as the ability to convert an asset into cash readily on demand. If this definition seems myopic, you can see it as an asset that can be sold or bought at its fair price. Therefore, liquidity signifies that there are no premiums or discounts attached to an asset when selling or buying it. This makes it easy to enter and exit the asset at will.

For any tradable asset, liquidity is paramount. Liquid markets are smoother and deeper when compared to illiquid markets, which can put traders in a place from which it may be difficult to navigate out. For instance, Bitcoin has experienced significant growth within nine years of its existence. In 2009, there were only 50 Bitcoins but today, there are over 13,000,000 bitcoins in circulation. Virtual currencies or cryptocurrencies have witnessed waves of illiquidity. What are the factors that influence liquidity?

  • Exchanges: The increasing number of cryptocurrency exchanges has provided opportunities for more individuals to trade in cryptocurrency. The increase in volume and frequency of trading has contributed to enhancing liquidity.
  • Acceptance: The acceptance of cryptocurrencies at online shops, brick and mortar stores, bookings, etc. has contributed to its usability while reducing its volatility. Coins become more liquid when frequently used as a means of payment.
  • Regulations: Both direct and indirect regulations have played a crucial role. The position of cryptocurrency in each country is different – banned in certain areas, allowed in others, while in dispute elsewhere. Because of the increasing presence of cryptocurrency in the form of exchanges, ATMs, casinos, transactions in shops, financings, etc. these clarified regulations will continue to influence liquidity.
  • Awareness: Many people are practically unaware of what cryptocurrency is all about and how it works. In the midst of these are prospective investors, buyers, and traders of digital coins. Lack of clear guidelines by relevant authorities and limited knowledge has limited engagement to devotees to this moment, but as this changes, so will liquidity via increased volume and acceptance.

Then, How can one technically solve the issue of liquidity facing cryptocurrency? Below we will explore a solution provided by Bancor for addressing the challenges of liquidity faced by cryptocurrencies, conventional tokens, and community currencies. According to Bancor, the issue of liquidity can be addressed through the use of Smart Tokens, by programming tokens to be autonomously convertible for other tokens within the same network. This is achieved through the use of Connectors, which are modules in a token’s smart contract that hold balances of other tokens they are connected to.

What is the Bancor Protocol Smart Token all about?

Let’s begin with the Bancor Protocol which is the standard for what Bancor calls Smart Tokens. The method is as follows: A Smart Token is programmed with one or more connectors, which are modules in their smart contracts. Each connector holds a balance of another connected, the connected token, which can be deposited by the Smart Token creator. These balances are used by the Bancor Formula to calculate the exact price of a Smart Token in any of its connected tokens. The Smart Token can be bought and sold by depositing or withdrawing the calculated amount from its connector balances. For example, if a Smart Token has one connector which holds a balance of Ethereum, that Smart Token can be bought by sending Ethereum to the Smart Token’s contract, or sold by sending Smart Tokens back to the contract and receiving the corresponding amount of Ethereum in return.

If you haven’t heard of smart contracts, these are computer programs which run on the blockchain, meaning they are unchangeable as long as the underlying blockchain is operational. In the case of tokens, smart contracts allow for the programming of certain features, issuing policies and other attributes, directly into the token’s governing software. Bancor uses this ability to program Smart Tokens to buy and sell themselves from users, in exchange for any of their connected tokens, at an algorithmically calculated rate according to the open-source Bancor Formula. This allows Smart Tokens to be plugged into a network architecture, and continuously liquid to every other token in the network, according to a mathematical price which balances buy and sell volumes in the network (more on the formula below.)

The Bancor Protocol recommends a new solution to the issue of liquidity for cryptocurrencies by using an asynchronous price-discovery model, which is enabled by these balances holding Smart Tokens. The most unique characteristic of this solution is the fact that you can buy or sell Smart Tokens anytime, directly through their smart contracts (Bancor also offers a simple Web App user interface) without the need for an exchange or even matching buyers and sellers, as has been the case for decades. Does this sound like crypto magic to you? Let’s explain how it works.

  • Firstly it’s important to understand that Smart Tokens are money that themselves hold money, in their connector balances. What this means is that the smart contract that operates the Smart Token owns a minimum of one other token balance. This is the Smart Token’s initial liquidity “plug in” to the network, and from where the Smart Token can withdraw other tokens to sellers, and collect other tokens from buyers.
  • Secondly, the supply of a Smart Token can be dynamic, and handled by its smart contract directly. When a Smart Token is purchased by sending one of its connected tokens to the smart contract, these tokens are added to the connector balance and new Smart Token units are created and sent to the buyer. This means that a Smart Token’s supply is growing as demand for it is growing. Thankfully, so is its connector balance, so as you’ll see below, its price is also increasing. This means that increased supply does not mean inflation or dilution for Smart Token holders, since price is a factor of demand, not constrained by a traditional fixed supply. Similarly, when a Smart Token is sold, it is simply sent back to its smart contract, which withdraws the corresponding amount of connected tokens from the connector balance and returns them to the seller, and the sold Smart Token units are destroyed and removed from circulation. Price however, is still decreasing, thanks to the Bancor Formula which takes this decreased connector balance into account. You can liken this mechanism to when tokens are issued by initial coin offering smart contracts in exchange for other tokens like Ether.
  • Thirdly, is the realization that Smart Tokens calculate their own prices vis-a-vis other tokens they are connected to. This is according to the Bancor Formula which holds the ratio constant between a Smart Token’s total market cap, and its connector balance. As buys and sells add and subtract tokens from the connector balances, the price of a Smart Token will fluctuate to keep this ratio, configured by a Smart Token’s creator (and called the weight), constant. This ensures that buy and sell volumes strive for equilibrium, as a Smart Token’s price is rising when it is being bought, and falling when it is beind sold. Just as you’d expect with supply and demand principles, only here the supply can adapt to the demand, and price is calculated as a mathematical function between the Smart Token and its real-time connector balances. .

One may be thinking if all of this functionality is required, given the fact that price discovery and liquidity is already obtained via trading activity in traditional exchanges. Is there a reason for a different solution? The answer to this question is yes. This is because exchanges can be seen as “matchmakers” between individuals or parties with different wants. A particular trade comprises of two opposing transactions, one where each party is selling what the other party wants to buy. The situation where a particular party needs to find another party with opposite wants is the sole reason why currencies and other assets face liquidity risk. With this constraint, it is impossible for smaller scale currencies, such as loyalty points, community currencies, and other relevant credits, as examples, to become consistently liquid.

Additionally, people who provide liquidity such as market makers and traders are logically looking for ways to take full advantage of profits. This connotes that liquidity comes at a price or cost with the current exchange solution, allocating value to middlemen. This is why BancorSmart Tokens are unique, allowing currencies to enjoy automated and continuous liquidity, and with no added fees. The contribution or partaking of market makers and traders in their convertability isn’t compulsory, but optional for both parties. In fact, Smart Tokens may be regarded as a token with a built-in not-for-profit automated market maker for itself, being operated by its open-source smart contract.

A Bit About the Bancor Token Generation

This decentralized liquidity network Blockchain project raised approximately $153 million in Ether within three hours. Bancor was one of the most successful token launches of 2017. The token generation event took place on June 12, 2017, attracting more than 390,000 contributions in Ether, a world record in the market at the time.

Bancor’s BNT is the Bancor Network Token. According to the company, in the next two years, there will be a host of new features available to Smart Tokens, including security upgrades such as delegated account recovery, the ability to purchase them with a credit card, enabling communities without a token to easily create one without technical knowledge, and moving to a fully decentralized backend and front-end architecture, as well as taking the liquidity network completely cross-blockchain. Finally, we will see the launch of Bancor Grants, helping local communities build capacity towards launching and maintaining a local Smart Token for their economy or network, and subsidizing the BNT needed for qualifying communities to connect to the Bancor Network (via their Smart Token’s connector balance, which will be held in BNT.) Since launch, Bancor has activated their token, launched and activated Relay Tokens for over 20 ERC20 tokens which are now convertible via the Bancor Network, launched their Web App on desktop and mobile, and deployed a portable widget to enable users to convert Smart Token’s from anywhere on the Internet. This attribute alone safeguards users and enables them to convert their tokens remotely and in a decentralized fashion.

BNT holds Ether (ETH) as its connected token, making it possible to convert any token within the Bancor Network into ETH, instantaneously and without the need for matching buyers and sellers. This is groundbreaking in the blockchain world, with Bancor pioneering an autonomous technology that a technical solution for instant liquidity and eventually also the instant creation of intrinsically liquid cryptocurrencies.

What are the Benefits of Bancor Smart Tokens?

Smart Tokens bring about several benefits when compared to the traditional token model, which include:

  • No Extra Fees: Unlike the traditional token and exchange models, the only compulsory fee that is paid for converting Smart Tokens is the blockchain platform fee, which in the case of Ethereum is known as gas.
  • Continuous Liquidity: Because selling and buying are carried out through smart contracts, you can always convert Smart Tokens from/to their connected tokens, regardless of the volume of trading done.
  • Foreseeable Price Changes: The Bancor Smart Token allows for the pre-calculation of price changes according to transaction size, since each transaction itself will result in a change to the current price by adding to or subtracting from connector balances. This price predictability leads to relatively more stable prices.
  • No Spread: The same price is calculated for buying and selling Smart Tokens since the calculation of these prices is done formulaically by the non-profit smart contract, not by other buyer and seller offers, traditionally known as an order book.

In Conclusion

Bancor has discovered a way out of the historic challenge of liquidity without needing a counterparty to buy or sell a token. This is attainable through a smart contract, currently on the Ethereum network, which keeps a balance in another connected token at all times, and uses a simple formula to continuously recalculate the exact rate at which a Smart Token is convertible for any of its connected tokens, and as such, for any other token in the network. This innovation replaces traditional labor-based solutions, in the form of market makers and exchanges, both for-profit actors, with a technical solution, in the form of a non-profit smart contract that will always buy and sell Smart Tokens thanks to their built-in liquidity mechanism. This autonomous solution could offer a step-function improvement in efficiency, decentralization, accessibility, transparency, and stability for the emerging cryptocurrency economy – if Bancor can pull it off

 

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Out of Space Brings the Best of Defi and NFT Under One Roof 1884

Spase

Today the crypto market is at its peak with three trillion valuation and the whole market making a new ATH one day after the other. However, with the growing popularity the use cases of crypto market has also surged drastically with several new ecosystems thriving within the cryptoverse. Two of the most prominents use cases in the current market includes Defi which has grown to become a multi-billion dollar ecosystem on its own and the NFTs which have become the breakout use case of the crypto world. The NFT craze has engulfed the whole of mainstream with every mainstream brand and celebrity getting involved with some form of the NFT project. With so many use cases and ecosystems, it’s increasingly becoming complex for users to get everything in one place and this is where Out of Space comes to the rescue.

Out Of Space is constructing a full ecosystem that includes a trading terminal, CEX (centralised exchanges), and decentralised exchanges. ed trading in a single location and offers all DEX and CEX opportunities It takes advantage of all the benefits of existing DEX and CEX technologies and offers a variety of trading tools. The platform plans to launch its seed round soon. A user account that includes statistics and a listing of all transactions. The ability to change the size and location of any block in the terminal’s working space is provided in an interactive workspace.

The Out of Space project began recently and already has a beta product on offering. The creators released a fully functional product prototype which is constantly improving based on user feedback and market trends. The Out of Space community has been expanding by the hour and expects to become one of the most notable decentralized communities very soon.

What Makes Out of Space So Special

The Out of Space ecosystem is as different as the name suggests, it combines the best of Defi, P2P, P2E and NFT together, becoming a gateway to the crypto ecosystem for new entrants. What makes it even more special is the fact that it is building the whole ecosystem from scratch starting with developing its own blockchain, rather than depending on any other platform. This ensures safety, privacy and more decentralization as they won’t have to depend on a third party. Smart contracts will be supported by the multi-layered blockchain, allowing developers to deploy independent dApps that can interact with one another. Payments between different dApps on the blockchain are possible, as are the use of common ecosystem tools making for a seamless ecosystem.

The company has also created an internal P2P cryptocurrency exchange service for ecosystem participants. Any platform user can discuss the best conditions for exchanging digital assets. Furthermore, the escrow service will ensure transaction security and user trust.

The NFT marketplace would be centred on artists, where their creativity and potential would be assessed first, and then the best conditions for the creation of NFT would be offered. Only the lowest commissions and a detailed description of all NFTs are available. But that is not all we have to offer. Some people are always in need of something, while others are always willing to provide it. The marketplace has been developed for traders, investors, developers, job seekers, and IT/blockchain professionals, meaning created keeping every profession in mind.

There are hundreds of new NFT projects claiming to launch some ultra rare digital collectibles, however, there are very few selected and trusted number of marketplaces in the crypto market today due to lack of quality projects and review process. And a few which are great to use have a very high cost of transactions. Out of Space aims to end that with its platform that will host, list and trade only selected and rare NFTs with minimal trading and minting fees.

Out of Space is Building a Multi-Purpose Blockchain Ecosystem

Imagine a crypto platform where you can buy, sell and trade along with NFT auctions and trading and also a staking service for passive income. Out of Space has all these and its building even more functionality into its ecosystem. The platform offers the best of CEX and DEX functionalities as well which are integrated into the system, thus one can choose between the two as per their convenience. The seamless functionality is something that makes Out of Space so attractive.

Building a multi-utility crypto ecosystem could be a tough task, but Out of Space is taking each step with utmost care and aims to deliver a finished benchmark kind of platform. Investing in an ecosystem with such multiple uses and services would only multiply once the network becomes more mature overtime. The platform would also develop a decentralized NFT social network with a personal NFT page for each participant, and a messenger inside the ecosystem, that would allow traders to interact as well as earn from the social network platform.

To learn more about Out of Space visit Outspace.io

Twitter: https://twitter.com/outspaceio
Telegram: https://t.me/outofspaceann
Out of Space Chat: https://t.me/outspace_chat

Innovative Digital Identity Solutions will Redefine Security and Identity Recognition by 2030, Finds Frost & Sullivan 1784

Frost & Sullivan’s recent analysis on digital identity solutions finds that progressive advancements in blockchain technology, artificial intelligence and biometric systems have led to the creation of unique and sophisticated digital ID global solutions. Driven by identity theft, security threats and digital transformation initiatives by governments and private sectors, areas that will greatly benefit include e-banking, e-government, digital transactions, mobile transactions, behavioral biometrics, and airport security.

“National identification programs are gaining prominence as countries are striving to establish a unified database of robust, unique identity documents of citizens for ease of governance,” said Aravind Srimoolanathan, Senior Research Analyst, ICT at Frost & Sullivan. “By 2030, advancements in blockchain technology will lead to its integration with biometrics, resulting in the establishment of a single-token digital identity for individuals.”

Srimoolanathan added: “In addition, as hackers adopt refined technologies to disrupt and bypass security systems, as a result of their flexibility and high security, multi-modal biometrics-powered identity systems are expected to become crucial means to enhance security across industries.”

The pioneering and cutting-edge technologies that are expected to change the digital identity market will enable several growth opportunities, including:

  • Leveraging advanced cybersecurity for digital identity: Cybersecurity providers should offer first-class security solutions to help end-users effectively manage digital identity databases.
  • Utilizing blockchain-powered digital identity solutions: Partnering with blockchain technology companies can enhance digital identity solution offerings as well as overall security and efficiency.
  • Relying on portable biometric readers/kiosks for digital identity management: Portable digital identity verification solution providers should include multi-factor authentication in their offerings to ensure security while allowing for a seamless user experience.

Global Digital Identity Solutions Growth Opportunities is the latest addition to Frost & Sullivan’s Security research and analyses available through the Frost & Sullivan leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.

About Frost & Sullivan

For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success.

ICON Partners with RFOX to Enter the Metaverse and Explore Further Opportunities to Push Technological Boundaries 1744

RFOX

Blockchain Interoperability Giant ICON to enter the Metaverse and Showcase its Ecosystem in Virtual Reality.

November 15, 2021 18:00 Vietnam, Ho Chi Minh—Metaverse builder RFOX (RedFOX Labs) (RFOX) will be welcoming ICON (ICX) as one of its first full-time residents within RFOX VALT, a virtual world focused on retail and entertainment. At RFOX VALT, ICON will incorporate a designated gallery and office space open to the community, where people can learn more about the project and create new social connections in a Virtual Reality environment, hot on the heels of the release of its new mainnet, ICON 2.0.

“ICON community, users and customers, will soon be able to interact in virtual reality – in real time, regardless of where they are in the world thanks to RFOX and the RFOX VALT” Said Bank Fairbank, Co-Founder & CEO of Redfox Labs

ICON 2.0 is a monumental shift for ICON and its broader ecosystem. ICON 2.0 is a complete redesign of the core engine of the ICON blockchain, making it faster, more powerful, and interoperable with other blockchains. Using Nexus, the interface of ICON’s interchain communication protocol–BTP (Blockchain Transmission Protocol)–ICON users will be able to move assets between ICON and partner blockchains, including Moonriver, NEAR, Binance Smart Chain, Polkadot, Acala and more.

“ICON is a truly progressive blockchain and has proven itself over a long period of time,” said Ben Fairbank, CEO and co-founder of RedFOX Labs.

“The financial offerings and ecosystem they have built for their users is world-class. To know they are committed to providing ongoing value for their user base and to ensure they remain connected through VR and the Metaverse is a sign of a company who is looking to the future and not just focused on the now. We are extremely excited about the opportunities they also bring to RFOX holders and look forward to exploring many more facets of our partnership. The two parties were introduced by VOID Cyber who are onboarding a number of big name brand partners into the RFOX ecosystem and the Metaverse through RFOX VALT” continued Ben.

“We are honored that members at RedFOX Labs have chosen us as one of their strategic partners at an early stage in their venture and we very much look forward to the creative possibilities that a fully dedicated VR space will bring–not only in terms of how we communicate all that’s happening in the ICON ecosystem but also in terms of how the broader community will interact with each other in virtual reality,” says Min Kim, CEO and founder of the ICON project.

With the recent announcement by Facebook stating they would spend upwards of 10 Billion USD to develop a Metaverse, the topic has become hot news globally. For companies like RedFOX Labs who have been building their Metaverse since 2019, this is welcome exposure and more importantly awareness for new users on what a Metaverse is and does.

About RFOX

Based in Southeast Asia and established in 2018, RFOX is a blockchain metaverse builder. Building in the fastest growing sectors of the internet economy, RFOX builds interoperable companies and applications that are showcased in a virtual world called the RFOX VALT. RFOX has established ventures in RFOX Games (a play to earn NFT Gaming platform), RFOX Finance (DeFi Protocol), RFOX TV, RFOX Media (which acquired MYMEDIA MYANMAR with 13 million active users) and RFOX NFT Whitelabel Platform. The RFOX ecosystem is powered by its currency token RFOX, and rewards users through its VFOX rewards token.

Website: https://www.redfoxlabs.io/rfox
Facebook: https://www.facebook.com/redfoxlabs.io
Twitter: https://twitter.com/redfoxlabs_io

About ICON

Founded in 2017 by the ICON Foundation, ICON is a next generation blockchain protocol with smart contract functionality and interoperability. ICX is the native cryptocurrency of the ICON network. As an aggregator chain, ICON achieves interoperability – a web of interconnected networks aggregating all blockchain data into one layer. ICON’s “Blockchain Transmission Protocol” (BTP) is its novel interoperability solution, allowing all integrated blockchains to be interconnected to each other. Current BTP partners include Binance Smart Chain, Polkadot, NEAR Protocol, and Harmony. ICON also has a growing DeFi ecosystem that includes projects such as Balanced DAO, Omm Finance, Optimus Protocol, and Equality Exchange.

Submit Your News to 40 Crypto-related Websites 1549

Coin PR Kit

Coin PR Kit will publish your press release, news, guest post, article, interview, review on up to 40 Crypto and Bitcoin related websites, selected by you prior to publication. Your news will remain available in websites database as long as you wish. Let us describe the way we work. We are ready to offer you surprising options for cooperation!

We deal with 40 Crypto and Bitcoin related websites worldwide and we have possibility to publish on those websites the news, press releases, guest post, articles, interviews, reviews and etc. After receiving the text from you, we publish it within 2-8 hours, and then we send you the links to all publications (see an example of report).

Simple & Clean Work Process

The process of ordering and publishing of text on selected websites is very simple and consists of the several steps:

1. Go to our Store
2. Select websites to publish
3. Add websites to Cart
4. Attach an article on the Checkout page
5. Pay and receive invoice
6. Websites promote it in 2 – 8 hours
7. We will send you links after publications

Our Store

All 40 Crypto and Bitcoin related websites are available in our store, see the list of websites at the following link. You can choose any website at the very moment of purchasing of publication. Our standard price is €25 per one website, but when you select more than 10 websites the discount system will be activated automatically in the store.

The price for one publication may be €20 if you add at least 10 websites to your cart. When you add 20 websites to your cart, the publication on one website will cost €15. And if you add 30 or 40+ websites you will get the price of €10 for each.

What if you need a lot of publications and you want to do it during several months?

Then we are ready to give you even more discounts! If you add to your cart at least 100 websites (each website can be added many times), you will get the price of €8 per one publication. This option is designed especially for big advertising companies of for dealing with advertising agencies.

We have no time limits for publications. You can make a stock purchase in advance and add 100 or more websites to your cart at one time to get a price of €8 and then publish articles when the time is right. You can send us different texts for different time of publications or for different websites. The length of the text should not exceed 8000 words. Show up on the homepage and NO advertising labels. In the text you can use 5 links (dofollow or nofollow), 5 images and 2 videos from YouTube.

All your purchases in our store will be accumulated and when the total amount of your purchases gets up to €2000 you automatically receive your personal coupon for one discount of 10%. Thus the price for one website will be much more reduced. For example, you add to the cart 100 websites, the total price for publication is €800 (discount: €8 per website), then you use your 10% discount coupon and the total price becomes €720 (€7.20 per website).

But that is not all yet! If the total amount of all your purchases in our store exceeds €4000, you automatically receive the VIP status (lifetime) and get an additional lifetime 20% discount on any purchase in our store. For example, you add 100 websites to your cart, the cost of posting is €800 (discount: €8 per website), but since you are the VIP status, you automatically get additional a 20% discount and the total cost of your order becomes €640 (€6.40 per website).

At the same time, if you would like to sum up all your purchases you should register your account in our store in order to keep your buying story. The process of registration takes less than a minute – you just need to put your email and password. Please register at the following link. Your buying records will be available in your account as well as the invoice for each purchase. Also your invoice will be sent to your email automatically after payment.

Payment and Publication

After adding the websites to your cart you will be forwarding to Checkout page. At the Checkout page you can choose the way of payment. We accept for payment: BTC, ETH, LTC, XRP, TRX, USDC, USDT (ERC-20 and TRC-20). Choose a cryptocurrency for payment, push the confirmation button and you will see the total sum of payment in the browser (it will be also sent to your email) and the address of wallet for transaction.

At this moment the status of your order will be “Hold”. After transaction of cryptocurrency to our wallet it takes 12 confirmations. After 12 confirmations your order status will be updated to “Completed”. Then you will receive an email confirming that we start working with your order. We need 2-8 hours to fulfil it. If your order comes at night (Helsinki UTC +2), we shall start work at 9 am. Please be attentive at planning.

80 Crypto and Bitcoin Related Websites

At present there are 40 Crypto websites worldwide cooperating with us. We are growing and enlarging our partnership network of publishers. Today we negotiate with 10 more crypto websites and we hope they will join our store within the nearest months. Then the total quantity of our partners will be 50. We are planning to conclude contracts with at least 100 crypto websites worldwide in half a year.

We choose our publishers very carefully and work only with well-established websites. Therefore, we offer a selection of websites in our store. You choose the websites for your publication yourself. Our cooperation with you will always be transparent and every time you will receive a report with a link to the publication of the text on the website chosen by you.

Top 10 Upcoming NFT Drops From The Survey Of 500 NFT Experts 1972

Concept image of nft nonfungible tokens background background backgrounds bank banking banknote bill t20 JJLZbk

The NFT market has seen tremendous growth in recent times and we are only seeing the beginning of it. In May 2021, Beeple sold a non-fungible token (NFT) for a whopping $69 million. A report on Forbes revealed that a set of 101 non-fungible tokens (NFTs) were sold for a staggering $24 million. At this point, it is safe to say that the NFT market has come to stay, and people ignoring the market might be doing themselves a disservice.

Non-fungible tokens (NFTs) are programmatically generated unique digital tokens that can be used to represent real-world assets like real estate, artworks, music, and so on. With this revolutionary invention, there is now a possibility of bringing art ownership to the masses. With the growing demand for NFTs, there is currently a long list of collections to choose from.

According to a survey of 500 NFT experts who were asked to rank 100 upcoming NFT drops. The top 10 were selected based on parameters like:

  • Uniqueness
  • Virality
  • Media Presence
  • Possible increase in value
  • Execution

Overview Of The Top 5 Upcoming NFT Drops Based On This Ranking

From the overview, you can see that BitColors is leading the chart with a near-perfect score of 48. It is followed closely by CrypToadz with a 47 score, while CyberKongz is following closely after scoring 45 in the survey.

A look At The Top 5 Upcoming NFT Collections

BitColors

Although most NFT collections pay more attention to digital arts, BitColors brings a completely new dimension to the NFT fuzz. It is a collection of 1000 handcrafted NFT colors that you can own and trade. We can all see the reason BitColors scored a 10 in its potential upside and uniqueness.

CrypToadz

CryptToadz was created by Gremplin, an artist who is believed to be the visual historian of the non-fungible token market. This collection is made up of 6969 pixelated amphibious creatures that are trying to escape from the tyrannical rule of the evil king Gremplin. When the project was first launched in early September, it sold more than $17.5 million worth of non-fungible tokens within the first week.

CyberKongz

The CyberKongz NFT collection became popular because they served as suitable profile pictures on Discord. Artist Myoo launched the NFTt collection in early March 2021 with 1000 unique and randomly created 2D and 3D NFT social avatars. The popularity of the collection grew when NFT lovers found the minting process on the OpenSea NFT marketplace.

Habbo Avatars

Habbo Avatars is the first official NFT collection for Habbo created by Sulake. It is made up of 11,600 unique, handcrafted, and automatically generated pixilated avatars. There are currently about 2,500 collectors who have purchased over 10,000 Habbo avatars. This NFT collection marked the entrance of an existing video game IP into the NFT market.

Sneaky Vampires

The Sneaky Vampire NFT collection started as an idea by a group of friends. Since its debut in the NFT space, Sneaky Vampires have transitioned to become quite a sensation in the NFT space. It is made up of 8,888 Vampires that offer some elements of utility to its collectors.

Conclusion

The NFT buzz is only getting started. According to a report on Reuters, the NFT sales volume surged $10.7 billion in the third quarter of 2021. This momentum is very much expected to continue. As digital artists churn out new NFTs by the day, collectors, on the other hand, are looking out for the next CryptoPunks.

Dunxin Financial Holding Limited (NYSE MKT: DXF) Announces Transformation of Business into Metaverse and Block Chain Industry 1779

Dunxin Financial Holdings Limited (NYSE MKT: DXF) (“Dunxin Financial” or the “Company”) has announced that it will officially transition its business into the Metaverse Industry after research and development of over two years. The Company is planning to recruit professionals and is evaluating multiple projects at this stage.

The artwork of digital artist Beeple (Mike Winkelmann), “Evertdays: The First 5000 Days”, was auctioned for US$69 million at Christie’s. With the number of NFT users growing exponentially, “Play to Earn(P2E)” game “Axie Infinity”, which was driven by Block Chain technology, arrived on the scene, and surpassed “Honor of Kings” in terms of revenue, and marked its spot on list of top 3 mobile games within 30 days.

The Company devotes to become a digital culture and entertainment technology platform that possess core intellectual properties and key technologies. Dunxin Financial enters into the Metaverse related industries (including Block Chain, NFT, Artificial Intelligence, hard and software of AR&VR, games, etc) by ways of independent research and development, investment and cooperation, etc. The Company wishes to cooperate with parties in the industry.

CEO of Dunxin Financial, Mr. Ricky Wei commented, “we conducted intensive researching and studying of massive practitioners in block chain, coin and mining industry and communicated with international and domestic institute experts and professionals in last two years. Benefiting from Block Chain technology, 5G6G technologies and upgrade of internet technology, Metaverse is believed to be the largest technology revolution after the waves of the internet technology, whose aim is to break the physical limitation and realization of virtual space-sharing. I believe that the ultimate Metaverse is in connection with both physical world and mathematics world. It will become a part of people’s lifestyle and will rebuild the digital economy system. Metaverse innovatively creates new species by integration of discrete single point and brings potentials and opportunities in long term.

The next 3-5 years will be an early-stage exploration period of Metaverse. Massive technology breakthrough and business model innovation in VR/AR, NFT, AI, Cloud, PUGC game platform, digital human and Digital Twin City will emerge. In the mid to long term, the investment opportunities includes GPU, 3D Graphic Engine, Cloud Computing and IDC, High-speed Wireless Communication, internet and game platform, Digital Twin City, etc. The Metaverse is likely to create great investment opportunities in the next ten years.

About Dunxin Financial

Dunxin Financial, established in March 2013 with headquarter in Wuhan, China, is an innovative fintech company originally engaged in business of providing loan facilities to micro sized enterprise and individuals. After its business transition, the Company will develop block chain, NFT digitalization and be in volved in the Metaverse business.

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “to be,” “expects,” “anticipates,” “believes,” “estimates,” or similar expressions, involve known and unknown risks and uncertainties. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Dunxin Financial’s control, which may cause Dunxin Financial’s actual results, performance or achievements to differ materially from those in the forward-looking statements. Actual results or events may differ from those anticipated or predicted in this press release, and the differences may be material. Further information regarding these and other risks, uncertainties or factors is included in Dunxin Financial ‘s filings with the U.S. Securities and Exchange Commission. Dunxin Financial does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.