Place/Date: - May 13th, 2022 at 3:58 pm UTC · 3 min read
Source: FIREPIN Token
An NFT (Non-fungible token) is a smart contract based on blockchain integration. NFTs are representations of digital asset ownership such as art, music, and sport, and also have limitless applications.
The unique property that adds to the value of NFTs is that they are minted alongside individual contracts recorded on the blockchain. Hence, no two people can own one digital asset at once. Several cryptocurrencies are integrating NFTs into their blockchains. Solana (SOL), STEPN (GMT) and FIREPIN Token (FRPN) have individual approaches to the use of NFTs, but each provides great benefits.
Solana (SOL) is a famous blockchain known for its high performance. It uses a proof-of-history (PoH) consensus mechanism to process transactions very fast. The Solana (SOL) network can handle over 60,000 transactions per second (TPS).
The transaction fees on the SOL network are almost non-existent. Multiple NFT creators and collectors carry out their operations on Solana because of its scalability and low costs. Solana has a high level of freedom that allows them to create their ideas without being restricted. All of this has contributed to Solana’s increasing popularity.
NFTs minted on Solana’s blockchain are going through a BETA period on Open sea’s popular NFT marketplace. If the BETA period runs successfully, SOL will secure its place as the leading blockchain for non-fungible tokens and projects in the future.
Cryptocurrencies are being applied in all aspects of society, including health and lifestyle. STEPN (GMT) is a health and lifestyle centred application that uses Web 3.0 technology to provide services for its users. STEPN rewards its users for their daily activities, depending on how active they are throughout the day.
Once you begin using the app, you can buy NFT sneakers and choose an activity like walking or running. The more active you are in your steps, the more GMT tokens you are eligible to receive. These tokens can then be used to acquire more NFT sneakers or converted into another currency.
STEPN is based on a Game-Fi initiative that seeks to encourage more people to live healthier lives and contribute to the battle against climate change. STEPN also wants to bring Web 3.0 to the public. STEPN users can also communicate with each other through a social media platform where they can acquire more unique NFT sneakers.
FIREPIN Token (FRPN) is a new cryptocurrency currently available for presale on the company’s website. Since the presale began in February, the token has had an over 3000% increase, impressive by all standards.
The team behind the FIREPIN Token seeks to use the funds generated on the platform to create NFTs and Metaverse games that will be a foundation for the GameFi future. In addition, FRPN will work with other developers to create software that will make NFT projects a viable reality.
FIREPIN’s multi-chain network will allow funds to be raised on five leading blockchains – Ethereum (ETH), Polygon (MATIC), Binance Smart Chain (BNB), Avalanche (AVAX), and Solana (SOL). Gas fees will be applied per transaction, and then used for NFT projects on the platform.
Non-fungible tokens have several applications now and can be used in several spheres of life. If you have plans to benefit from the NFT ecosystem, then Solana (SOL), STEPN (GMT), and FIREPIN Token (FRPN) are good projects to consider.