• NFTs have come a long way, having achieved a lot and gained massive interest in different industries. 

• Cardano co-founder Charles Hoskinson believes that NFTs can represent experiences and achievements like diplomas.

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In his usual Twitter routine, Cardano co-founder Charles Hoskinson took his listeners through the list of possible use cases Non-Fungible Tokens (NFTs) could have as the sector grows. According to him, NFTs could be very useful to anything that can be collected or connected to something that is far beyond standardization. Per his observation, all of these should be tokenized at some level.

So, for example, a deed of land. Mineral rights. Water rights. Any notion of property rights. In the GameFi [gaming and decentralized finance]space, any notion of your character progressing throughout the game. Your activities within that game. The special powers that you accumulate, all the rewards that you accumulate.

NFTs have come a long way, having achieved a lot and gained massive interest in different industries. Hoskinson believes that NFTs can represent experiences and achievements like diplomas. He also explained the difference between specific and fungible. According to him, graduating from medical school for example is specific, not fungible. 

NFTs, as a format, I think in each of those areas, is useful. So it’s a larger space than the fungible world.

Hoskinson explains the involvement of Cardano 

In his submission, Hoskinson explained that anyone can pick anything that is NFT and convert it to something associated with the revenue stream. Speaking on his interest in the ecosystem and how his Cardano project could get involved, he mentioned that he is wary of things like governance, and interoperability.

What I want to do is just get involved with the high-level, you know, metaverse, GameFi, and something related to collectibles and then watch how those things evolve. 

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Hoskinson also sees NFTs playing a crucial role in connecting brands and influencers to their audiences. In this case, he believes TikTok could be the first platform to tokenize its brand. He also expressed his surprise at the growth and scale of the NFT industry from nothing within a very short time. Hoskinson further mentions the complex intellectual property negotiations in the NFT field. He believes that the conversation of how to represent a patent portfolio as NFT has already been discussed. Similarly, a discussion of how one can sell the rights to the portfolio and how that can be converted into interest-earning future profit on that has been held. 

We can securitize patents as a non-diluted way of guaranteeing capital for a business. If you’re a pharmaceutical company, for example, you have to sell stock. You can pre-sale part of your patent portfolio in anticipation of it generating money. There’s a lot of little stuff like that that can be done.

The involvement of Cardano in the industry could have a huge impact on its adoption which could also reflect in its price. Also, there is a huge possibility that this will drive the ADA price to $1 in the long run. 

 

The developers of a blockchain network play a critical role in the growth and expansion of the network.

From designing and maintaining the architecture to building smart contracts — developers do it all. And, in light of recent developments, Ethereum [ETH] has come out on top to have the maximum developer activity.

All hail ETH – the new king

According to a ranking compiled by analytic firm Santiment, the Ethereum ecosystem ranked first in terms of developer activity, thus, overtaking major projects.

Reportedly, Ethereum has given tough competition to the former champion, Cardano [ADA] that somewhat lost its place under the development activity metric.

Ethereum registered the highest 30-day rolling average of notable Github development activity as seen in the graph below.

To calculate the metric, the crypto analytics agency used the number of GitHub events that the project generated.

Accordingly, Ethereum, with 240.50 contributions, took the top spot. It was then closely followed by Cardano [ADA], the reigning champ, with a figure of 239 developer events. Following this, Polkadot [DOT] stood at the third position with 215.79 contributions.

Indeed, it was a significant jump from the previous month wherein ETH stood fourth in line, whereas Cardano took the first spot.

$ADA, $DOT, $KSM, $ETH, and $MIOTA lead in development activity here in July. Measuring #github activity goes beyond just quantity of submissions. We measure via code pushes, issue interactions, & more: https://t.co/vWQCE4r4pv

Full data screener here: https://t.co/DyfP9QJTCG pic.twitter.com/aCQ1PxIgmI

— Santiment (@santimentfeed) July 19, 2022

The buzz around ETH

Ethereum, being the most popular Layer-1 solution, recorded significant growth, be it in terms of institution adoption or retail craze. The credit for which goes to the hype around the Merge.

Firstly, the ETH 2.0 kept recording fresh all-time highs (ATHs) as stakers/investors kept betting for the said upgrade.

It also saw deposits surge from about eight million in mid-May 2022 to a press time value of over 13 million.

Talking about the recent development, a client of Ethereum 2.0, Teku released version v22.8.1.

A necessary update, including the Bellatrix network upgrade and merged transition configuration. As per the release, all mainnet users must upgrade by 6 September.

In addition to this, token circulation too played an important role for ETH.

Not to forget, token circulation doesn’t show the most vital signs especially when it comes to circulation rates in a bear market.

As we’ve seen since late June, some coins have actually shown great recovery signs (like ETH), while others are really lagging behind (like ADA).

Furthermore, Santiment used the NVT token circulation divergence to highlight the same.

Herein, ETH saw a major up and down circulation throughout its past two years. According to Santiment’s insight,

“May, 2020 through May, 2021 was clearly the #2 market cap asset’s time to grow. And even once it hit some volatility from June 2021 to November, 2021, its shaky circulation was still enough to allow it to hit an all-time high.”

However, apart from the said timeline, ‘there has been some pretty shaky circulation on the network and a lot of concerning red bars throughout 2022.’

This could imply that ETH was starting to get a bit oversold.

The great thing about cryptocurrency is that everyone can become a champion.

It’s not only the hedge fund manager or the investment banker that succeeds in crypto, it’s the student or the regular 9-5 employee that can too.

The decentralisation of the industry grants its users the freedom and space to get involved and invest as little or as much as they please.

Control is undoubtedly an important aspect of society and the lack of it within the digital asset space makes it even more accessible to those who may not have that same opportunity in traditional finance institutions.

People have the opportunity to invest in the likes of Cardano (ADA), NEAR Protocol (NEAR) and FIREPIN Token (FRPN), the latter of which remains in presale.

The surging presale of FIREPIN TOKEN (FRPN)

It’s been the presale on everybody’s lips and its venture into phase 2 will begin in just over seven days.

FIREPIN Token (FRPN) has achieved a rise of over 350% since the beginning of its presale in January.

When you look at FRPN’s mission statement, it’s clear to see why they’ve garnered the support they’ve received which in turn has led to investment into the project.

As a DAO (decentralised autonomous organisation) and metaverse company, FIREPIN holds long-term visions on the metaverse, play-to-earn (P2E) games and NFTs, three spaces they intend to invest in through their treasury fund.

Along with their usage of the Algorithmic Reserve Currency algorithm that will help prevent price volatility, FIREPIN recently locked $1 million in liquidity which will massively stabilise the FRPN price when being bought and sold at rapid rates.

With its launch scheduled for May 27th, FIREPIN is near the long-awaited launch and with 30 billion tokens (100 in total) to be available for purchase throughout the presale stage, make sure they haven’t sold out by the time you decide to invest.

The reason why Cardano (ADA) is down

As one of the top cryptocurrencies in the world, with a market cap of almost $37 billion, highs and lows are usually not looked at with much fearfulness.

However, sometimes extenuating circumstances mean that more attention must be paid to finding out the root behind a decline in value.

Looking at Cardano’s (ADA) latest dip of 8.3% in the past seven days, the main reason for this dip is the rise in interest rates globally.

The ten-year treasury rates of the United States, Brazil, and Mexico all rose which led to the sell-off of cryptocurrencies to invest in assets that are traditionally ‘safer’.

It’s not just ADA that’s been affected, the likes of Solana (SOL), Avalanche (AVAX), and Polkadot (DOT) have all suffered slumps in the market.

NEAR Protocol (NEAR) is the last crypto standing

Among all the chaos of the market with Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP (XRP) and many more suffering dips, only one crypto is projecting a rise of over 2%… that’s NEAR Protocol (NEAR).

Recording growth of over 10.3% in the last seven days, NEAR Protocol, is the last crypto standing.

Trading at $15.47, at this time of writing, NEAR has grown 59.4% in the past 30 days and continues to record growth during a cryptocurrency sell-off period.

Join Presale: https://presale.firepin.io/login

Website: https://firepin.io/

Twitter: https://twitter.com/FIREPIN_io

TikTok: https://www.tiktok.com/@firepin.io

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