Place/Date: - February 23rd, 2022 at 3:41 pm UTC · 3 min read
Source: HUH Token
NFTs were all the craze in 2021 and why many are still sceptical of what an NFT actually is, there are many projects out there taking the infrastructure to a new level. Two such projects are Chiliz (CHZ) and HUH Token (HUH). Chiliz (CHZ) is already established as the market leader in sports and entertainment NFTs whilst HUH Token is branching out into the social media universe, allowing influencers to create and sell collections to their masses of followers.
A Non Fungible Token (NFT) is a blockchain-based smart contract that represents ownership of specific digital assets. This covers art, video, music, gaming, and many other forms of expression. What sets it apart is that when an NFT is generated, an individual contract is formed and then saved on the blockchain, ensuring that no two objects are identical and that each item may only have one owner at a time.
Chiliz (CHZ) is taking the NFT game to the next level by allowing fans to buy limited edition collectables in the form of snapshots from live games. Chiliz (CHZ) is behind the fan token craze and has well over 100 sports organisations linked to its ecosystem. Lucky holders of AC Milan’s fan token ACM were airdropped 100 limited editions NFTs of the game against AS Roma. After the success of this initial drop, Chiliz (CHZ) announced that they would be doing similar launches with other clubs and partners. As global adoption of cryptocurrency and a wider understanding of what an actual NFT increases, Chiliz looks like a fantastic medium to long term investment. At just $0.17 at the time of writing, many analysts believe that the project could easily become a top 20 market cap coin in the very near future. Putting this into perspective, if Chiliz (CHZ) were to reach the same market capo as the 20th ranked coin right now, Litecoin (LTC), the coin would sit at $1.39, a near 8x on your investment if you were to buy in today.
HUH Token (HUH) takes a slightly different approach to their dive into the NFT World. According to their whitepaper, a brand new social media platform called the MetHUH will launch sometime in 2022. This platform will allow social media influencers to interact and network with each other and potential companies they wish to work for without the nagging hassle of a middleman. Alongside this, an NFT marketplace will be created where the social media influencers can mint and sell NFTs to their followers. A unique concept about this project is that Rach influencers will be given “influencer points” based on how many likes, shares and comments their posts receive. The points will then determine the overall value of the NFT allowing potential buyers to calculate the true value of a collection and whether it’s something they may be interested in buying.
The future is now for NFTs. More and more industries are adapting to the benefits of the technology. As global adoption continues to expand an investment in the projects providing users with the tools to create such projects could be very beneficial for investors alike. Chiliz (CHZ) and HUH Token (HUH) are providing connectivity between product and fan, bringing them closer than ever before.