Since Beeple’s $69.3 million sale made headlines, there’s been an explosion of interest in NFTs. More people, including celebrities and artists, are joining the craze since it’s easier to grasp NFTs’ value proposition.
Some individuals believe that NFT is a bubble poised to pop, doubting its longevity. Others are certain it’s here to stay and will change investing forever.
What is an NFT?
A non-fungible token (NFT) is a collectible digital asset such as game items, memes, art, music, or liquidity provider (LP) positions in DeFi. You can buy and sell NFTs online using cryptocurrency. They’re usually encoded using the same software as many cryptos but stand out from other standard coins in the Bitcoin blockchain since they’re non-fungible (can’t be exchanged like-for-like).
NFTs act like any other physical collector’s item. Still, you get a digitized version of the article instead of the actual thing, for example, a JPG file in the place of a collectible oil canvas. Up to this point, NFTs have been used for digital items, most especially on the ETH platform. However, the NFT market is picking up with the rise of the Binance Smart Chain (BSC).
Best Places to Get NFTs Within the BSC Ecosystem
There are different variations of NFTs available, but they often take the form of any unique item that holds value and could be stored digitally. Therefore, whether you’re looking for vintage cars or oil paintings, there are a couple of DeFi that you can explore.
JuggerWorld
JuggerWorld is a dedicated NFT marketplace available on BSC that allows NFT trading outside of Ethereum. The DeFi team behind Juggernaut is responsible for bringing this platform.
The team is actively developing the platform to allow anyone to use its Marketplace and create a variety of BSC-based NFTs. Artists and creators can also use the platform’s Stores to showcase their artworks in the form of NFTs.
PancakeSwap
PankcakeSwap is a BSC DeFi liquidity pool platform that recently started using NFTs for its collectible tokens. The platform already uses the BEP-721 tokens, a BSC-based protocol, to sell their native token CAKE.
The platform has a thing for names, and you can easily fall in love with words like Drizzle, Churro, and Swappies. PancakeSwap set up a competition on their website that allowed users to get these collectible tokens.
Treasureland
A spinoff from DEGO’s developers, Treasureland is also a platform that allows you to buy and sell BSC NFT tokens. Treasureland is a traditional NFT marketplace, while DEGO incorporates DeFi and NFTs, further exploring different applications of NFT technology.
With DEGO, you can mine, auction, trade, and issue NFTs with its stand-alone NFT ecosystem. You can acquire BSC NFTs from DEGO and Treasureland through BSC NFT mining, BSC NFT token trades on Treasureland, and the BSC NFT airdrop held during the launch.
The Future of Collectibles
The ability to combine DeFi and collectibles is a real advancement in the path to adopting, storing, and trading NFTs on BSC. It’s also now possible to mine NFTs due to their advanced economies. BSC offers excellent benefits that can only open more opportunities for using crypto in the world of collectibles.