The crypto market has been engulfed by a general market slump over the past few weeks. This has given a perfect opportunity for new tokens to thrive as well as for the investors to ‘buy the dip’ of big cryptocurrencies. Here are a few opportunities in the crypto market that could spell profits for your portfolio.
Ride the NFT wave with an investment in Parody Coin (PARO)
Parody Coin (PARO) tokens will be used to drive the adoption of the Parody Coin platform. The Parody Coin site will include a swap protocol for exchanging tokens on different networks. It will serve as a liquidity aggregator and will provide users the ability to exchange any token for an equivalent amount of PARO Tokens. In addition, an NFT marketplace will also be provided along with a cross-chain bridge for the instant transfer of tokens between different networks.
The primary utility of the Parody Coin network is the ability to mint parody versions of popular NFTs. Holders will be able to even trade fractionalized versions (smaller units) of these NFTs. The original NFT holder can always choose to burn the original NFT and stake claim to the parody version. It will help in driving an alternate futuristic marketplace for NFTs.
The PARO Token is currently available in its presale phase. The PARO Token has an attractive reward mechanism and will be used to drive transactions on the network. Users will be encouraged to hold the PARO Token for the long term since it provides an easy way of earning a passive source of income.
2% of the transaction tax is automatically redistributed to holders of the PARO Token. NFTs have become hugely popular in the past year and the NFT mania is set to get bigger during 2022. Investors can earn potentially huge returns by participating in the PARO token’s presale as it could change the way NFTs are traded forever.
Digicard Key uses VeChain’s (VET) Toolchain to ensure verification services
Digicard Key has utilised the Toolchain program provided by VeChain (VET) to launch a verification and authentication service. Since it’s NFC enabled, users can simply touch and find out if the item is authentic or not. VeChain’s toolchain provides an easy solution for the deployment of its network in diverse industries. The VET Token is used as the primary coin of the VeChain empire which was launched as a supply chain solution but has transformed into a full-fledged blockchain capable of running smart contracts. The VeChain network has had a strong history of providing blockchain services without being hacked ever. It has processed 12,245,449 blocks since 2016 with zero downtime. It is one of the most efficient, affordable, and eco-friendly smart contracts that enabled public blockchain.
Elrond (EGLD) gets listed on BitOasis
The EGLD Token that powers the Elrond network has been listed on BitOasis, a leading cryptocurrency exchange based out of Dubai. BitOasis will soon become one of the first licensed exchanges in the Middle East as it has received approvals from Abu Dhabi Global Market (ADGM) and Dubai’s Virtual Asset Regulatory Authority (VARA). BitOasis provides support in vernacular languages and also supports the local currency AED. This partnership might boost the price prospects of EGLD Token in the short term. Elrond is a sharding-enabled blockchain network that can handle thousands of transactions at high speeds.
Given the above-listed developments, these could be some ideal investment opportunities for crypto enthusiasts and novices alike.
Learn more about the Parody Token (PARO):