DogeMiyagi, Bitcoin and Cardano: The top cryptos exploring the NFT hype – Economic Times

The introduction of non-fungible tokens (NFTs) to the crypto world has been one of the most exciting developments for the market. This year, Bitcoin (BTC) came out with its own version of NFTs called Ordinals, while Cardano (ADA) has been making waves in the NFT market. The new meme coin DogeMiyagi (MIYAGI) will include NFTs as part of its plan for growth, and this highly anticipated project is expected to explode when it launches.Bitcoin Ordinals declineAs the original cryptocurrency, Bitcoin is known for innovating the financial market. In January this year, Bitcoin debuted its own version of NFTs known as Ordinals. Due to its reputation in the market, this was highly anticipated, and investors had high expectations. However, they have not performed as well as they were expected to.Bitcoin Ordinals have faced scrutiny from die-hard NFT fans, in particular, those who have criticised its sluggish transaction speeds and high fees. Recent data also shows a decline in its popularity, steadily dripping from a high of $18.13 million in trading volume on May 8. While their fate remains uncertain, loyal Bitcoin supporters are hopeful that major improvements could be on the horizon.Cardano captures the NFT marketCardano has recently been capturing a significant share of the NFT market, holding onto its position as sixth in terms of all-time NFT volume. In the first week of May, it amassed a staggering $8.9 million in NFT volume.

Cardanos users applaud its low transaction costs, sustainability, and speed, which also makes it an ideal match for the NFT market. Although its first project faced hurdles due to a lack of functional smart contracts, the developers found a solution allowing numerous successful projects to launch on the network. Its Vasil upgrade has played a pivotal role in enhancing speed and efficiency and igniting a surge in Unique Active Wallets. Additionally, Cardano's unique feature of creating NFTs without smart contracts minimises errors, making it a safer and more accessible choice compared to other chains.

DogeMiyagi also takes a community approach to crypto and has a fully-fledged DAO to give all users a say in the direction of the project. The platform will also feature daily rewards to keep the community engaged. Investors who refer new users will also receive a 10% reward, which will be added straight to their wallets.

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DogeMiyagi, Bitcoin and Cardano: The top cryptos exploring the NFT hype - Economic Times