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Since WazirX is partly owned by Binance, users can freely transfer funds and cryptocurrencies between the two exchanges. WazirX money transfer is a straightforward procedure. Before doing anything further, they should make sure they have accounts on WazirX and Binance. Transferring funds between WazirX and Binance is simple once users have set up their accounts on both platforms.
How to Transfer Money from WazirX to Binance?
Visit Binance and click on 'Wallet.' The option 'Third Party Account' will be available under Wallet.
Select 'Third Party Account' from the drop-down menu. After you click it, a new page will appear, with the 'WazirX' option and a button to 'Activate' it. Select it by clicking on it.
You can now log in to your WazirX profile using your Binance account.
Go to the WazirX App once your Binance account is linked to your WazirX account.
Select any cryptocurrency you want to transfer to Binance from the money menu.
Select the coin and then select Withdraw.
You'll see a link to Binance where you may send your cryptocurrency.
Use the WazirX financing option to transfer cash and bitcoins. You can also watch the video above to have a better understanding of the procedure.
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Blockchain technology can disrupt a lot of industries in the future. Gaming is the prime example of how blockchain and cryptocurrencies can challenge existing notions and change the game on its head. Let us explore how NFT-based video games have trended this year and why Axie Infinity is currently amongst the top 25 cryptocurrencies.
Welcome to the world of NFT-based gaming
Games traditionally push players to buy digital assets or view advertising on their platform to earn revenues. Axie Infinity (main token AXS) brings a whole new meaning and value to this field. Axie, a blockchain-based battling and trading game, is inspired by popular games like Tamagotchi and Pokemon and allows players to collect, breed, raise, trade, and battle token-based creatures known as Axies. The difference is that it is partially operated and owned by its players. Players get to own assets on the platform and monetize as the ecosystem grows. With more than a million daily active users (DAUs), many players have started seeing the game as a way to earn their regular income.
Play-to-Earn Model is a hit in emerging nations
Axie Infinity has two cryptocurrencies associated with the ecosystem – AXS and SLP (small love potion). It is the first instance of a successful fusion of gaming, NFTs and cryptocurrencies. The growing buzz is attributed to the ability for normal gamers to accumulate and build wealth via gaming. This is particularly lucrative for developing economies such as the Philippines and Indonesia where average per capita income is significantly lower than the average earnings via this game. The ecosystem has added more than a million daily active users (DAUs) this year and has created a hype around presenting an alternative and a viable career for the pandemic stricken population of these countries.
For the gaming community, AXS represents much more than just a cryptocurrency and hence it remains valuable in that ecosystem. The real challenge that AXS will face would be in scaling the DAUs by ten-fold. One, there is currently a limitation on the Ethereum network in terms of transactions and associated costs and two, the AXS team has to build a solid tech to support such a growth. Competitors are also likely to sprout given this success story. This is usually good for the ecosystem but may be detrimental for a single game.
Axie Infinity is very likely to be the leader in the near future as a platform that provides a new and unique place for crypto enthusiasts and gamers to meet their ends and participate in their platform. Regardless of how it plays out, Axie will always be remembered for revolutionizing gaming from a time and money consuming activity to a money making initiative.
Axie Infinity Clone Development is a ready-to-go 100% source code that let's you to start your perfect Axie Infinity like NFT gaming platform on top of the Ethereum network. A tremendous measure and advanced steps are taken by our team of developers who deliver a good functionality gaming platform at an edge-cutting cost.
Indian gaming platform like Dream11, Mobile Premier League (MPL) and Nextwave Multimedia, a subsidiary of gaming company Nazara Technologies which owns the World Cricket Championship (WCC) franchise, are actively looking to launch their own non-fungible tokens (NFTs), said multiple people who are aware of the developments.
NFTs are currently a hot commodity as celebrities from different walks of life are jumping on the bandwagon to cash in on the boom. While many critics have dismissed the craze as the latest bubble, the rise of NFTs has baffled many.
While NFTs are being launched in various sectors, gaming NFTs have become a rage after online game Axie Infinity sold NFTs for over $3 billion and also popularized the play-to-earn model which others are actively looking to follow. With the gaming sector seeing a significant rise in user base, launching NFTs seems the next logical step, say the experts.
NFT startup Lysto raises $3 million in seed capital
Further, India has the world’s largest number of game downloads with 17.7 percent of total worldwide downloads, according to app intelligence firm Sensor Tower.
Experts tracking the space say NFTs have the potential to replace in-app purchases which are said to have grown 10-times in the last three years.
“NFTs are exciting because they fulfil a number of demands. For instance, people play WCC for years, some also find it as part of their childhood. Over the period, these users have accumulated a lot of assets and now for it to be used, they share their login and password with other users. NFTs can streamline this along with other use cases,” said P.R. Rajendran, founder and CEO of Nextwave Multimedia which runs WCC.
Kamal Haasan to debut in NFT space
Observers say that currently the major growth drivers are the increase in crypto users, tech-savvy youngsters and the intrigued investor keenly looking at the space.
“This play-to-earn model will be a game changer for the Indian companies as it will give a reason especially to the new users, a reason to play. Both the real-money and the non-real-money segments will be benefited but the key is how these companies will integrate these NFTs into the game,” said Manish Aggarwal, CEO of Nazara Technologies.
In the six months to a year, a slew of gaming NFTs will be launched in India, he added.
More Indians join NFT gold rush
But, experts caution that these game NFTs are unregulated and risky assets. While a lot of projects are raising money to become the next big game, many abandon the project midway and take years to develop even in the traditional gaming space.
While Dream11 declined to comment, MPL did not respond to emailed queries.
Gurgaon-based Totality Corp. is also building a playable NFT gaming metaverse called ZionVerse, based on Indian mythology which will cost $101-150 and is set to be launched next month.
“We are seeing more opportunities for real-world applications which focus on decentralisation. With the same thought we launched RageFan that will integrate real-world applications with the crypto world. The gaming industry has already proven its user base, business model and monetisation models, and valuable NFTs will only add more value for the existing user base,” said Satheesh Ananthasubramanian, founder of blockchain-based platform RageFan which offers sports NFTs and fan tokens on its marketplace.
Amitabh Bachchan's exclusive NFT collection auctioned for over Rs 7 crore
He added that price points will be a crucial factor for the success of gaming NFTs in India.
“While gaming is on the rise, monetisation remains the biggest hurdle for gaming companies. But we see a slow shift from freemium to premium,” said Prabhu Ram, head, industry intelligence group (IIG), CyberMedia Research.
“As serious gamer engagement increases over time, NFTs present another potential secret sauce for gaming companies to power their growth, by getting serious gamers to play-to-earn through NFTs. But, it remains to be seen how well it is received by the serious gamers,” added Ram.
According to the latest report by market research and consulting firm RedSeer, India's paid gamer base is set to touch about 235 million in 2025, from 80 million in 2020. An average gamer spends an average of about $16 a year on gaming. Real-money games attract the highest spend on a monthly basis, with users spending an average of about $3.50 per month.
Dheeraj Shah, a crypto educator who also moonlights as a gamer, said, “Thousands of Indian gamers are playing NFT games like Axie Infinity and making more than minimum wages and enjoying at the same time. Gaming has always been thought to be a waste of time by parents, but some of the players are making more than their parents these days. Players are using this money to pay for their college, rent, food and live a better life.”
He added that the current games make revenue by selling games and in-app purchases and a take of the total revenue, which is not the case with NFT gaming.
NFTs - Nonfungible tokens in gaming hits its popularity because there is an ever-green interest shown by people in this gaming field. People of all ages are fond of playing games and it has become great addictive from ever since video games are introduced to our world.
As games are fun, a huge crowd of people likes to make a change in this fun-loving gaming world, and thus NFT collectibles create a huge base for developing a gaming platform. The goal of NFTs is to deliver a realistic NFT gaming experience for users across the world. One who wishes to increase your business revenue in this blockchain era, can make utilize this open-source computerized resources like nft game development.
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Sellbitbuy offers exclusive NFT gaming platform development services, by aiming to create an individual's NFT gaming marketplace at the fastest approach. We leading cryptocurrency exchange development company, tend to work on recreating the gaming world in this virtual network by offering solutions for NFT games for action and adventures, board games, sporting games, arcade games, casino games, & more.
Polygon was originally known as Matic but underwent a rebranding process earlier this year. Polygon is a framework and protocol for creating Ethereum-compatible blockchain networks. The protocol aims to build a multi-chain Ethereum ecosystem composed of Ethereum-based blockchains.
Sellbitbuy a leading cryptocurrency exchange development company offers the best polygon dapp development services for reducing the escalating cost of gas fee on Ethereum. We help enthusiasts who are seeking scaling solutions to help with both transaction speed and gas cost reduction for users. One such approach is Polygon (previously Matic).
Benefits Of Polygon Decentralized Applications
No government or institution has the authority to prevent users from using a DApp. There is no single person with the power to govern the network, restrict users from making transactions, implementing applications, or accessing data from the blockchain. Nobody could block your post or prevent you from posting if Instagram or Twitter were run on Ethereum.
The DApp will continue to function even if sections of the network architecture fall down due to its reliance on a peer-to-peer approach. Once it's up and running, it'll only go down if the blockchain platform on which it's built crashes.
Just three months after reaching the $1 billion mark, NFT platform OpenSea has today officially traded over $10 billion in volume.
The crypto market’s largest NFT marketplace, OpenSea, has officially facilitated more than $10 billion in volume for the first time since opening its doors four years ago.
The first NFT marketplace to be established on the Ethereum blockchain, OpenSea’s trading volume has shot up in the past year alongside the boom in non-fungible tokens (NFTs). In August, for example, the platform’s total volume was just $1 billion.
NFTs are cryptographically unique tokens that can be linked to digital or physical assets such as artwork, music, or videos. Many of the most famous NFT series, such as Bored Ape Yacht Club, frequently trade hands on OpenSea, while the platform has also hosted multi-million-dollar sales.
In comparison with other major platforms, OpenSea is streets ahead in terms of trading volume.
Ethereum-based platforms Rarible and SuperRare.co have volumes of just $263.97 million and $177.95 million, respectively. The average price per sale, however, on Rarible and SuperRare is much higher than on OpenSea, suggesting the latter two platforms are more popular for higher-ticket sale items.
The second-highest ranking platform by volume is the crypto game Axie Infinity, with $3 billion in total volume and over one million traders on its platform. By comparison, OpenSea has 635,698 traders on its platform, and Rarible 83,810.
NFTs Take Flight Beyond Ethereum
The NFT boom isn’t just taking place on Ethereum, either, with many projects launching on rival blockchains such as Solana.
Last week, film director Quentin Tarantino announced a series of NFTs on the privacy-centric blockchain Secret Network, with the tokens’ encrypted metadata ensuring that only the seven lucky fans will have access to never-before-seen behind the scenes and notes of Tarantino’s movie Pulp Fiction.
As more celebrities and artists look to cash in on the NFT boom, the future of nonfungible tokens is surely a bright one.
The phenomenon of play-to-earn and earn through NFT or token is tipped to be the growth engine. Gaming firms in India have begun exploring ways to incorporate non-fungible tokens (NFTs) in electronics sports (eSports) and games and also develop new games that will run on blockchains, to cash in on the massive interest in crypto and NFTs.
Blockchain gaming allows gamers to be rewarded with cryptocurrencies for playing, while NFTs are used to purchase digital items and real estate. An example of a successful blockchain game is Axie Infinity, which has millions of players worldwide.
Mainstream gaming firms such as JetSynthesys have started experimenting on how to leverage NFTs in games. Bengaluru-based Avisa Ventures’ gaming division, too, is working with game developers to create 2-3 blockchain-based games. It has launched an NFT Gaming Guild for NFT and blockchain-based games. The guild has initiated a play-to-earn competition on Axie Infinity to give gamers the chance to earn tokens that they can sell to other players.
In the eSports industry, NODWIN Gaming partnered with RageFan to offer chess NFTs in the Chess Super League (CSL) tournament held in October. RageFan is a blockchain-based platform that offers sports NFTs and fan tokens. NFTs were released by RageFan and will be available for purchase from their NFT marketplace shortly.
“India is possibly the largest gaming market in the world, because of the deep penetration of mobile phones and cheap data rates. With the Web3 paradigm of play-to-earn, where gamers can monetize their time and in-game achievements, this market is set to grow multifold in the coming years," said Arjun Kalsy, vice-president of growth at Polygon.
Kalsy has a point. Real money gaming and eSports have seen huge growth in India, especially after the pandemic. India’s online gaming industry is expected to grow at a compound annual growth rate (CAGR) of 40% to $2.8 billion by 2022, up from $1.1 billion in 2019, according to a 2021 report by Deloitte.
The phenomenon of play-to-earn and earn through NFT or token is going to be the next growth for the gaming industry. India’s crypto user base is the highest in the world. This is an opportunity for India to take leadership in the crypto space. People now value experience more. Web3 is the perfect combination of intrinsic rewards and experience. If your games can become more valuable economically it will make you spend more.
Though most companies are positive that NFT and blockchain-based games will see huge traction in India, many don’t want to rush things due to a lack of regulatory clarity on cryptos.
NFT gaming platform development is exceptionally developed with the intent of attracting gamers who are new into the blockchain platforms. Reason behind starting this NFT gaming platform is quite common. NFT has become a popular business in recent times and so it creates a huge hype in starting NFT gaming environment across numerous horizons.
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Since their introduction, Non-Fungible Tokens (NFTs) have proven time and time again that they have the ability to transform the gaming industry. The advent of NFTs heralds a new and exciting era in which gamers take on increasingly more important roles in the gaming economy and get rewarded accordingly.
Today, as game creators progressively use blockchain technology to make their games even more immersive, this gaming paradigm is beginning to take shape.
We'll go through some of the best NFT games available right now in this blog. But, before we get into our list of the greatest NFT games, let's go through the basics of an NFT-based game.
What Are NFT Games?
An NFT game blends traditional gaming features with novel gameplay mechanisms to provide players more influence over in-game assets such as skins, characters, weapons, virtual territories, and more.
Launching games on blockchains and anchoring them with digital asset-powered economies makes this viable. NFTs are commonly used for these digital assets since they are distinctive and tamper-proof.
The implementation of NFT token standards also allows developers to keep certain of these in-game goods rare and distinctive. As a result, some blockchain gaming assets are seen as more valuable than others.
NFT's Best Games
Certain platforms have positioned themselves as the major feature of the NFT gaming industry, as they have in other developing and established industries.
Because they have effectively merged NFTs with popular gaming themes, these games are at the forefront of the current NFT craze. As a result, gamers may enjoy some of their favorite game genres while also participating in a lucrative NFT market.
1. Axie Infinity
Axie Infinity takes inspiration from the Pokemon game franchise and adds a blockchain twist to make the final product even more interesting. Players breed and gather NFT-based digital creatures called Axies in this Ethereum-based game with the primary goal of combating other players. Each Axie has its own unique genetic fingerprint. As a result, Axies' shortcomings and strengths are handed down to their descendants.
2. Gods Unchained
Gods Unchained is a free-to-play game that incorporates NFT components with a traditional card trading game.
Players get cards by purchasing them from other players or by winning PVP matches, in which the quality of the cards and the players' gaming ability often decide the winner.
More emphasis is being placed on skills and tactics, for example. This is due to the game's ranked game mode, which matches players with similar ratings.
Splinterlands, like Gods Unchained, is a tradable card game that allows players to earn as they play. When you win card matches, you get rewarded. To begin playing Splinterlands, you must first purchase a starting pack of cards, create a Steem account, and then reveal the purchased cards in the game.
Sorare is a fantasy sports game that isn't just about playing football. You may play everything from traditional fantasy football games to Sorare, a game in which you earn rewards by defeating other managers. You'll be able to manage and construct your own virtual squad of digital playing card NFTs.
Zed Run is australian-based virtual gaming platform built on top of the blockchain. It is a Ethereum-based digital horse racing gaming platform where you can purchase a horse and race it to earn money.
NFTs in this gaming platform, are unique from each other, and it has a distinct bloodline and genotype. Horse owners are ranked from top to bottom based on the popularity of the horse's genotype.
NFT games combine popular gaming genres with blockchain aspects, making them particularly useful for establishing rarity and uniqueness. As a result, NFT games aren't too tough to master.
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Below we explain a few things you need to know about Decentraland, including the risks to be aware of and where the price might wind up in the future.
1. It just hit an all-time high
The wild trading run sent the price of Decentraland to a new record of $4.69 on Saturday.
Up until recent days, Decentraland had mostly traded under $1 since late May.
It hit an all-time high of $1.63 in April – but then crashed a month later.
2. Why it’s been going up lately
Some have been wondering why Decentraland has started a big rally to begin with.
The truth is Decentraland, which is a metaverse token, has Facebook to thank.
This is because Facebook changed its name to Meta – aiming to “bring the metaverse to life.”
A metaverse is a virtual reality experience where users can interact with others.
Decentraland uses “MANA,” which is an ERC20 token – meaning it's based on Ethereum’s blockchain. Another metaverse cryptocurrency that has been gaining is Sandbox, which is up 33% in the past 24 hours.
3. Why Decentraland is so unique
When compared with other cryptocurrencies, Decentraland stands out with its unique trading experience.
Specifically, Decentraland operates as a blockchain-based cryptocurrency that models itself as a “world owned by users.”
Users can create scenes, graphics, challenges as well as trade digital assets including LAND, estates, and avatar apparel.
"Even with how nascent this industry is, the serious Decentraland players have managed to create a significant income from buying and selling Nft items," Patrick Moore, founder and creator of Bitcoin and cryptocurrency information website CryptoWhat, told The Sun.
4. The meme coin effect
It remains to be seen if Decentraland turns into the next meme coin of choice for retail investors.
But it has lately picked up some traction from Reddit users via threads lately – which is the same crowd that has pumped up the prices this year for Shiba Inu and Dogecoin.
Typically, meme coins gain off a social media or an internet-based joke.
Billionaire Elon Musk hasn’t gotten involved yet like he has with Dogecoin and Shiba, but there’s always that possibility.
5. A riskier bet
All cryptocurrencies come with high risks – but it’s taken a step further with Decentraland.
Cryptocurrencies are particularly risky because of the complexity and heavy volatility in the industry.
The fact that Decentraland is a recent gainer and a meme target puts the risk of serious possible losses.
That could happen at any time if Reddit users lose interest or find a different meme coin.
6. Price prediction
Some are wondering where the price of Decentraland is heading in the future.
Mr Moore thinks Decentraland can surge above its recent all-time high.
"While the overall market sentiment is hot for crypto, it's possible for MANA to reach $4 - $6 during this next bull run," he said.
Despite the unpredictability that lies ahead, many forecasters are currently bullish on MANA.
For example, Wallet Investor thinks it will rise to $3.611 in 12 months and $7.101 in five years.
Meanwhile, Coin Price Forecast sees the price more than tripling to $11.85 by the end of the year, $22.74 by the end of 2022 and $82.27 at the conclusion of 2025.
But keep in mind, price predictions could change if bearish trends occur.
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"Meta", the new company name of the social media giant Facebook. Meta will be the overall parent company for other individual apps and services like Facebook, Instagram, as well as WhatsApp. They will maintain their branding under the “Meta” umbrella. Facebook made this announcement after figuring out that growing metaverse is going to be its future business.
Mark Zuckerburg, the CEO Facebook announced this news on 29th of October during the keynote of the annual Facebook Connect event. The meet was mainly focused on the Metaverse. Following the keynote, Zuckerberg told "The Verge" that “I think we’re basically moving from being Facebook first as a company to being metaverse first,”.
So let me first explain about the Metaverse.
What Is Metaverse?
Metaverse is a speculative future iteration of the Internet part of shared virtual reality, often as a form of social media. The metaverse in a broader sense may not only refer to virtual worlds operated by social media companies but the entire spectrum of augmented reality. In simple words, the flat apps and websites that we are using today are going to be steadily replaced by 3D environments and shared spaces.
The term Metaverse arose in the early 1990s. But later popularised by Snow Crash, a sci-fi novel written by Neal Stephenson in 1992.
The metaverse specifies the collection of shared online worlds where the physical, augmented, and virtual reality converge. Here the people can buy things and services, hangout with friends, attend meetings, etc. But the users cannot switch between many virtual worlds that exist online. Because they cannot retain their identities and assets. This problem can be solved by the Metaverse as it turns the distinct online worlds into a single, seamless entity.
It is not a new idea of creating an alternative digital universe. It was a thing that has always existed in games. The digital goods economy and platforms that offer augmented and virtual reality is boosted by the NFTs, the mania of digital assets. This helps in making virtual experiences more realistic.
Metaverse NFT Marketplace Development
Metaverse NFT Marketplace Development is a process of developing a platform that lets the user create a virtual place or land with their imagination. In the metaverse, anyone can interact with their avatars and thus it is a second world that is full of avatars. The NFT Marketplace is nothing but a platform operating on the blockchain network. The users can buy, sell, bid metaverses.
If you are one among those who are looking for Metaverse NFT Marketplace, then Sellbitbuy is the apt place for developing your imaginary ideas into a Metaverse.
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NFTs are worth making millions of dollars in today’s world, as a spiking result individuals are one step ahead as they started to sow the seeds on creating a customized NFT Whitelabel Marketplace.
Whitelabel NFT Marketplace aims to offer high customizability by comprising API integrations, wallet integration, metamask integration, for creating an advanced easy-to-handle NFT marketplace. Grabbing this customized Whitelabel NFT Marketplace, let’s you to deploy your unique NFT Marketplace into our market within a short span. It delivers advanced features that make your NFT Marketplace so special by offering a unique visibility to your NFT Marketplace.
On a bigger perspective, White Label NFT Marketplace saves your development time, money by reducing the risk in building your own Whitelabel NFT Marketplace.
Features Of Whitelabel NFT Marketplace
Whitelabel NFT Marketplace offers cross-chain compatibility for interacting with multiple NFT platforms built on different blockchains.
Customizations and modifications to your NFT Marketplace adds uniqueness to your NFT Marketplace, as it is built by gathering user’s requirements.
Advanced auction systems are offered in Whitelabel NFT Marketplace as auction price are still considered as the best while exchanging NFTs.
Extra added security makes the Whitelabel NFT Marketplace more stable and secured from bugs & errors.
It offers whitelabel smart contracts to ensure proper authenticity is delivered to make the NFT Marketplace legitimate.
Whitelabel solutions in your NFT Marketplace considers a futuristic approach for creating a strong NFT Marketplace. There will be space for making frequent upgrades and changes to make it more advanced.
Multiple Payment Options
Supports multiple payment gateways so that NFTs can be exchanged via credit card transfers, debit card transfers, bank transfer & via many more ways.
Wide Range NFT support
Supports a huge range of NFT token standards like ERC 721, TRC 721 token standards and so on.
Paxful is the leading peer-to-peer bitcoin exchange platform that allows traders to buy and sell cryptocurrencies. The unique feature in Paxful is that there are "300 payment options" are available for users to buy and sell bitcoins with anyone.
The huge payment options that can be classified into Bank transfers, Online wallets, Gift cards, Debit/credit cards, Digital currencies, etc.,
In the paxful, there are lots of features for the users, Buy/sell bitcoin online, trade with secure escrow, free wallet, reputation system, earn extra income, etc.,
Headquarters: New York, United States
Founders: Ray Yussef, Artur Schabacker
Features of Our Paxful Clone Script
The user has to submit any one of the documents for the verifications like government-issued id, etc.,
Based on any matches of the user, the user can pick and trade with anyone for a secure trading.
If any issues occur, between the traders disputes taken by the admin.
The feedback mechanism is to ensure the trustworthiness of the traders over the exchange platforms.
The traders can privately chat with each other in an encrypted chat system.
When the buyer and seller start a trading process, escrow admins take full control of the user’s Bitcoins. They will deliver Bitcoins to buyers if only the trade is matched with the sellers.
You can easily start a cryptocurrency exchange website like Paxful. We, Sellbitbuy - one of the foremost Cryptocurrency Exchange Development Company, affords the prominent Paxful clone script to begin your own cryptocurrency exchange website like paxful. We make your reliable website with technologically high-level features.
NFT (Non-Fungible Token) is an asset that you can’t hold in your hand, but you have complete ownership of that asset.
NFTs sell for millions of dollars and, as such, they have attracted the attention of investors, art lovers, gamers and tech enthusiasts from all over the world. Now everyone wants to own an NFT. However, not all NFTs fetch a high value.
The price that your NFT gets depends on your marketing strategy, which is created by NFT experts who build a community of users, reap numerous influencers, leverage content marketing, and use social media to encourage more bids. Higher bids lead to a better NFT selling price.
Create an NFT Marketplace Development – Build it on your own
The NFT platform is gradually increasing in recent years worldwide. Millions of users prefer this blockchain-based platform as it is more reliable and efficient since the value is soaring in the marketplace.
Many companies worldwide are stepping forward to tokenize their own NFTs with the latest features initiated along with it. The NFT marketplace’s creation is challenging and lures many users & developers as the NFT recorded more differences in the trade rate.
What is an NFT Marketplace?
The non-fungible tokens (NFTs) are considered digital assets that hold unique characteristics. However, the NFTs are different from other crypto-tokens since they belong to fungible. It conveys that BTC value to be similar to that of another BTC.
The fungible tokens are interchangeable and transferable since it holds similar details like other crypto-tokens in the blockchain platform.
Fungible tokens can be divided into small units, whereas NFT cannot since it is unique. The information present in NFTs possess unique functions that are transparent and verifies the scarcity of NFTs. Digital assets like art and games are used in NFT.
The NFT offers powerful ownership rights, high-level security, and immutability.
Why is the NFT Marketplace solution efficient for future growth?
The NFT has stormed the internet in recent times, and many users worldwide have been hyped after certain collectibles like art and music went viral after the launch made by celebrities like Elon Musk.
NFT market cap has increased tenfold in two years and topped the table with high value. The NFT marketplace allows digital assets to be sold by sellers on customers’ requirements.
The exchange of transactions made in the NFT platform is charged at significantly less fee and maintains transparency. The smart contract initialization in NFT based blockchain platform has raised active users of 200 in 2020 and more than 500 in 2021. The transaction volume measured weekly in the marketplace found that NFTs value is high when compared to Ethereum. The value of NFT has dropped at times but is primarily stable all the time in the marketplace.
How to start your own NFT Marketplace Explained?
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These are people who are true believers in NFTs, blockchain, and play-to-earn, and I know that many of them have been immersed in these ideas for many years. They’re not fly-by-night people. NFTs use the transparent and secure digital ledger of blockchain to authenticate unique digital items. By enabling game developers to find a new source of revenue — auctioning off rare items for high values and reselling them as well — they hope to bring a new business model to gaming that is as revolutionary as free-to-play was for Facebook games, massively multiplayer online games, mobile games, and eventually all games.
Anything with collectibles — art, trading cards, card games, and just about any video games — can use NFT technology to create items that are scarce instead of digital items that can be ripped off with abandon. An NFT is no different from money. If you believe in it, then it’s real. And it’s something that gamers themselves can profit from. At the party I attended, everybody believed.
The Benefits Of NFTs
They also believe — perhaps in ways that are more easily challenged by skeptics — that NFTs will usher in the metaverse, another buzzword the skeptics don’t like that signifies the universe of virtual worlds that are all interconnected, like in novels such as Snow Crash and Ready Player One. Since NFTs can establish true ownership, players are no longer serfs on the lands owned by the lord of the manor — the game publishers. They can take their NFT items from games and one day use them in interoperable games in the metaverse. If a game shuts down, that’s no big deal as players will be able to take their avatars and other NFT items to another world. Their investment won’t be wasted.
That’s a lofty ambition that could prove extremely difficult given the delicate balances of game economies. It’s more easily done with games that have been designed by one company to work together, like the worlds inside Manticore’s Core — a collection of games where it’s easy to take your avatar from one world to another.
But NFTs have already changed the world with simpler benefits — the simple ability for players to view the time that they put into a game as an investment and the opportunity to get paid for that investment.
Play To Earn
Axie Infinity now, you can make money by first leveling up your cute NFT characters (Axies) and making them more valuable. Each one is unique. You can fight with other players and win. You can also think of them as collectible pets and keep going back for more. Sky Mavis, based in Vietnam, was started by a team of missionaries with a view that NFT games could build transformative economic power for communities, particularly in developing countries where jobs are in short supply. It could even be a model for more developed nations as the coming of AI will likely wipe out a lot of jobs, Sky Mavis‘ Jeff Zirlin said.
You can sell them for a profit, and all of a sudden the time you invested in that game will pay off. You can make money from the game, and that’s exactly what happened with players in Yield Guild Games, which is guild of players gathered on Discord. This guild not only makes it easy for players to join NFT games. It also teaches them how to invest in titles where playing is an investment, like buying virtual land.
NFT Gaming Platform Development
NFT gaming platform development is exceptionally developed with the intent of attracting gamers who are new into the blockchain platforms. Reason behind starting this NFT gaming platform is quite common...NFT has become a popular business in recent times and so it creates a huge hype in starting NFT gaming environment across numerous horizons.
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Zed Run – an online game based on digital horse ownership, racing, trading, and breeding – is the latest surprisingly lucrative crypto trend to emerge off the back of NFT (Non-Fungible Token) hype. And it’s from an Australian studio, Virtually Human, who launched Zed in early 2019.
Two years later and humble beginnings – selling 4,450 digital horses for $30 each – has turned into a wildly profitable Second Life-style rally. As of right now, Zed Run has reported up to 11,000 horses sold, with another 8,000 bred across 3,600 digital stables. Rare horses like the golden polygon textured ‘Floyd Mayweather Jr’ are now selling for US$15,000 (AU$19,335). One horse has even sold for US$125,000 (AU$161,125).
Zed Run works on NFT technology, relying on the ridiculously high-paying concept to establish proof of ownership and allow for secondary transactions on online art and collectible peer-to-peer marketplaces like OpenSea.
Zed Run is also messing with augmented reality to allow owners to view their horses as if the animals were in the room with them. Ebeling, who obviously reads a lot of sci-fi novels, describes this as “teleporting them from a parallel timeline.”
“In my world, Zed is real… it exists on a parallel timeline to ours; its quantum physics. It’s 2150 on a planet called Novus Earth. On this Earth, digital horse racing reigns supreme. It’s been put in place to balance out wealth.”
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LocalBitcoins is one of the largest and safest peer-to-peer crypto exchange services based in Finland. It helps match Bitcoin buyers with suitable sellers who live in the same region enabling face-to-face and online transactions. Buyers and sellers can post their advertisements stating their payment methods and exchange rates for buying or selling Bitcoins. Others can respond to the advertisements based on their requirements and initiate the trading process. LocalBitcoins also functions as an escrow that ensures secure and fair transactions made by its users.
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Non-fungible tokens marketplaces are linked with a Polkadot network to make it easier for digital content providers to get their work done by providing a platform on Polkadot. It provides a decentralized platform for digital creators to display their rare treasures.
What Polkadot Blockchain Network Aspires To Provide?
The main objective of Polkadot is to bridge the different gaps that exist in the blockchain industry as a whole. Presently, each blockchain operates as its own network with its own set of features and applications. Polkadot is designed to make it easier to trade-off these capabilities across numerous chains, allowing multiple coins to work together as a single network capable of a wider range of applications. The Polkadot network is meant to help you reach your goal by allowing you to perform the following:
User-driven network governance
Forkless and future proof
Sellbitbuy, a leading NFT marketplace development company on Polkadot for multiple businesses in the blockchain platform. Our innovative and professional development team will ensure that your NFT meets the Polkadot platform’s criteria by creating a stable and reliable paratoken. The product development team guarantees that you are a pioneer in the NFT market and stay competitive with the other marketplace.
The blockchain game, Axie Infinity, allows consumers to battle with, collect, raise, and build land-based kingdoms for “Axies.”
Since its launch in 2018, Axie Infinity has gathered over 2 million players, with over 18.4 million NFT sales.
Sky Mavis, the gaming studio behind the Axie Infinity game, recently completed a $152 million funding round, featuring Andreessen Horowitz.
The fund will be used for the development of the Axie Infinity ecosystem.
The development team behind Axie Infinity, Sky Mavis, has announced plans to launch a decentralized exchange on the Ethereum-linked Ronin Sidechain for the blockchain game. When the DEX is launched, it will be the first such release for a game.
According to Jeff Zirlin, co-founder of Axie Infinity, the decentralized exchange will allow users to buy and sell AXS and SLP tokens on-chain. In addition, the DEX will help reduce friction in the game caused by cross-chain token trading.
While there is no set timeline for the launch of the DEX, the Axie Infinity community can remain pumped about Q4 as Axie Infinity will be looking to gain mainstream adoption with the official launch of Axie Infinity for iOS and Android devices.
In Q4, Axie Infinity will also be testing the Alpha release of the Land Gameplay Community. Lunacia will bring 90,601 plots of land (represented as NFTs), though the land gameplay is still being developed, a full launch can be expected in the first half of 2022.
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ZED RUN has integrated a native bridge with Biconomy to transfer assets between Polygon and Ethereum.
ZED RUN Integrated Biconomy Bridge
Virtually Human Studio, the creators of the popular NFT-based racing game ZED RUN, announced today that it has deployed a cross-chain bridge solution provided by Biconomy.
Known as Hyphen, the solution allows for instant asset transfers between various Ethereum Virtual Machine (EVM)-compatible chains. The integration will enable ZED RUN gamers to instantly transfer funds from Ethereum to Polygon and vice versa.
According to Virtually Human Studio, the previous bridging process created a bad experience for users switching between the Polygon bridge and the dApp.
ZED RUN lets gamers breed, purchase, and race digital NFT horses. Players can participate in various NFT-based activities in the game and become stable owners, race track owners, horse breeders, and more.
To get started, users need to send ETH from Ethereum mainnet to Polygon via the sidechain bridge to pay for in-game NFTs. However, using the Polygon network bridge was a complex and time-consuming process for many users.
The deployment of Biconomy’s Hyphen means that ZED RUN users will be able to stay on the gaming dApp and directly bridge their funds from Ethereum at a higher speed.
Biconomy, a project backed by Coinbase Ventures, has been working on various bridging solutions with Polygon’s core team. Polygon, which is often described as an Ethereum commit chain, has recently seen parabolic growth in daily active addresses thanks to its booming NFT-based gaming space.
Discussing the new integration, chief technology officer and co-founder of Virtually Human Studio Geoff Wellman said that the team was “thrilled to be one of the first to implement a native cross-chain bridge into a gaming dApp.” Ahmed Al-Balaghi, CEO at Biconomy added that Hyphen would fix the issues with “complicated onboarding processes” on blockchain games via in-game bridging.
Biconomy has worked closely with ZED RUN in the past; it powered the game’s gasless transactions and has processed 24 million to date.
As an increasing number of projects aim for a more user-friendly experience, direct native bridges like those ZED RUN is integrating may become more commonplace across DeFi, gaming, and NFTs in the future. Besides Biconomy, a growing number of bridging solutions in the Ethereum ecosystem, such as Hop Protocol, Celer, and AnySwap, are already helping users transfer assets across blockchains and scaling networks.
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A craze for building blockchain-powered NFT gaming is increased abundantly, as a huge population of people is currently entertained by playing games in blockchain era.
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