VICTORIA, Seychelles, Oct. 11, 2020 (GLOBE NEWSWIRE) -- The hype in Decentralized Finance (DeFi) quickly dissipated as DeFi-related assets recorded sharp reversals in their price. DeFi users that were overleveraged observed their wealth evaporate as the value of their collateral diminished. As DeFi interest subsides, NFT interest has been piqued.
Non-fungible tokens (NFTs) are distinct token types that derive their utility from being diverse and unique from other tokens. Data is suggesting that we are approaching the next wave of NFT adoption.
NFTs can be considered to be digital collectables which are traded and secured on a blockchain infrastructure. They are commonly tied to non-fungible ERC721 tokens on the Ethereum blockchain. Google data shows record-high search volume for the term "NFT".
DigiCol will provide the infrastructure for the next wave of NFT adoption. NFT users have previously faced stiff technical barriers to creating and using NFTs. It typically requires advanced coding knowledge and a deep familiarity with third-party wallets like MetaMask.
DigiCol is the first platform to empower users with one-click NFT creation. Moreover, users will be able to trade NFTs in the DigiCol marketplace without the hassles of connecting to a third-party wallet.
The previous NFT hype cycle resulted in some tokens being traded for over $100,000. But as interest resurfaces, NFT users will demand more sophisticated infrastructure and more liquid markets.
NFTs have found huge markets in fields like art collectibles and online gaming. We have already observed decentralized marketplaces emerge to cater to these niches. But none have the one-click creation and seamless trading features of DigiCol.
After DigiCol users create NFTs, they can launch them into a liquid marketplace and earn rewards when their tokens are traded. Users that own NFTs can earn rewards in tokens native to the DigiCol platform by showcasing their holdings in the marketplace.
NFTs created on DigiCol can also be used to access highly-demanded digital assets like Ethereum and USDT. NFTs can be placed into secure smart contracts as collateral to borrow Ethereum and USDT.
DigiCol will drastically change how crypto enthusiasts interact with NFTs. Previous spikes in NFT activity have been predominantly driven by hardcore enthusiasts with the technical knowledge to create and trade. DigiCol will open the gates for a much wider user base.
Those that wish to experiment can easily create unique tokens. Those that wish to speculate on the future value of NFTs will find a vast marketplace on DigiCol. Creators who want to put their design skills to the test can launch their custom NFTs to the market and gauge demand. Those that create the most coveted NFTs will be highly rewarded.
DigiCol is changing the NFT landscape. It will provide a multi-functional infrastructure that makes NFT creation and trading seamless and secure. Built upon the Ethereum blockchain, DigiCol has immense amounts of globally-distributed computing power securing NFT ownership and transactions.
Social linksTwitter: https://twitter.com/DigiColofficialMedium: https://medium.com/@digicolSubstack: https://digicol.substack.com/Telegram: https://t.me/digicolofficialTelegram News Announcement: https://t.me/digicolnews
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3dc0e513-a48f-4087-a879-b276b071fd0f
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