Crypto flow
An NFT project still underrated
NFTs are undoubtedly one of the most fashionable subjects at the moment. With some of the most astounding stories ever told, some people are literally making millions by selling images of monkeys. As a result, many have embarked on the NFT craze, hoping to find the nugget that will make them rich. Others have even decided to create their own collection of NFTs in the hope of reselling them for top dollar. Reading this article surely means that you too want to ride the wave. So let’s find out together what an NFT is and how crypto flow will benefit you in view of its NFT-based project.
What’s an NFT?
The acronym NFT stands for Non Fungible Token. As its name suggests, an NFT is not fungible. In other words, it represents a unique digital asset with its own specific characteristics. This is made possible by blockchain technology. An NFT can take the form of a digital work, virtual land, a domain name or even video game equipment. To find out more, this guide focusing on NFTs will certainly satisfy any curiosity you may have: https://coinaute.com/guide-nft/ .
Introducing crypto flow
The birth of an innovative project
Dapper Labs is a company known for specialising in NFT and creating Blockchain-based entertainment. For example, their Crypto Kitties game, created in 2017 on the Ethereum Blockchain, was a great success. It was so successful that it further popularised NFTs. But not everything was rosy. Indeed, the transactions carried out were so large that countless bugs and latencies appeared on the network.
Faced with these limitations, Dapper Labs created its own blockchain called flow. Unlike the Ethereum blockchain, flow is highly scalable. In other words, it is capable of maintaining its functionality and performance in the event of high demand. And it does this with a higher-than-average transaction yield.
A technology appreciated by giants
Specially designed for future decentralised applications based on NFTs, flow is proving to be a real opportunity for developers worldwide. Indeed, flow’s technical attributes have very quickly attracted the interest of well-known players. Companies such as Warner Music Group, Samsung and Ubisoft have already partnered with flow. As a result, they act as renowned contributors and lend credibility to the Dapper Labs initiative.
A major partnership
Flow made a name for itself when it launched a series of NFTs in partnership with the NBA. Entitled « NBA Top Shot« , this collection of virtual cards featuring the American league’s basketball players currently ranks 6th in terms of total sales for all NFT collections combined. With a total sales volume of over 950 million dollars.
These virtual cards, known as « Moments », are short video clips of NBA stars in action during games. The cards can be purchased in packs. A bit like physical trading cards. Each one is an NFT and can then be kept or sold to another collector.
Crypto flow
Stacking
Crypto holders (people who keep cryptocurrencies for the long term) have the option of stacking with flow, to help maintain its blockchain. In exchange for their participation, stackers receive rewards in the form of interest. This interest can range from 8% to 20% per year, depending on the platform.
Paying transaction fees
Beyond this aspect, flow’s function is to pay for the transactions carried out on its network. These fees are very low compared with other blockchains. While this may seem insignificant at first glance, think again. It means that people will be much more inclined to use flow to buy NFTs, rather than Ethereum. In case you didn’t know, most of the main NFT marketplaces are based on the Ethereum blockchain. And Ethereum is notorious for having incredibly high transaction fees. So by using flow, you can buy or sell your NFTs at a lower cost.
A deflationary model
Used to pay transaction fees and having a limited money supply, crypto flow follows a deflationary model aimed at guaranteeing an increase in capital. If you didn’t know, the money we use every day, the euro, can be created ad infinitum by the European Central Bank. This ability to create unlimited amounts of money explains the loss of value of money and therefore the current general rise in prices.
At the same time, deflation increases the value of money through a scarcity effect. During this period, very little money is created. This reduces the circulation of money in the economy.
Flow therefore seeks to reproduce this same phenomenon with a limited money supply of 1,410,644,320. Thus, simply owning the Flow crypto guarantees a long-term increase in capital. Ranked 55th in terms of capitalisation, Flow is currently worth €5.51. Flow is available on the following platforms: Binance, Kraken, Crypto.com and Gate.io.
Is it wise to invest in crypto flow?
As Warren Buffett, one of the world’s greatest investors, once said: « Most people start getting interested in stocks when everyone else is. The right time to get interested is precisely when no one else is. You can’t buy what’s popular and get good results« . Given the price of flow, it is clear that its value is still undervalued by the market in relation to its project. So, if you subscribe to Warren Buffett’s advice, it is indeed wise to invest your money in a high-potential cryptocurrency that is still unknown to the public. Especially since Flow has several major partners to lend credibility to its project.
Invest wisely
Nevertheless, even though crypto flow may seem very promising because of its innovative concept, be careful all the same. On the cryptocurrency market, many people have invested large sums in a project, thinking they had found a business that would make them millions. But unfortunately, they ended up losing a lot of money. The mistake would then be to gamble all your capital in the hope that the flow would explode and make you win the jackpot. Hence the need to invest with caution and moderation, to limit the risks as much as possible.