A new NFT protocol has captured the interest of crypto holders, specifically Fantom (FTM) and Chiliz (CHZ). These two cryptocurrencies are unique and they stand out in the market which is why they’ve attracted lots of investors. But owners of these two digital assets appear curious to what the social media company Meta, formerly known as Facebook, has recently launched.
On July 1, 2022, Meta’s product manager, Navdeep Singh, announced the launch of the company’s new feature – the option to display the user’s NFT on the dashboard of its website. By integrating NFTs into the platform, it would create a connection between digital wallets and Facebook profiles. The social media giant Facebook currently has 1.93 billion daily users, and this would entice all its users to engage with NFT posts – very much like how they already post photos and videos, comment, like, react and share.
Meta’s announcement was made alongside the presale launch of the new protocol – Degrain (DGRN). Degrain is the newest innovation in digital protocols and is a highly anticipated revolutionary token. It will be the world’s first cross-chain decentralized NFT platform enabling users to trade their NFTs between different blockchain networks. Investors have not been shy to show their enthusiasm as 11 million tokens were sold within the first 60 seconds of opening to the market.
Degrain has many attractive features that users will enjoy, such as offering rewards to buyers and traders of their NFTs, paying royalties for future resales, and charging less trading fees as compared to other NFT platforms. Another exciting feature is the creation of NFT communities, thus an effective marketing tool for real-world companies that see the potential of such an innovation.
Parties that are definitely showing signs of interest in Degrain are the owners of Chiliz and Fantom. Chiliz is the leading blockchain-based digital currency in the sports industry. Owners of Chiliz can purchase fan tokens of their favorite teams and gain access to special privileges, like meet and greets with players or winning unique apparel such as a signed jersey/kit. Chiliz, through the fan tokens, gives customers a unique experience that wasn’t possible prior to the development of these digital assets.
Investors that own Chiliz understand the value it brings to its owners, as well as how it can increase engagement between fans and teams. For the same reason, the owners of Chiliz are interested in Degrain as it also has potential to increase engagement between billions of people on different blockchain networks.
Fantom is one of the most popular smart contract based blockchains on the market. It offers a way to set up smart contracts and can process them extremely efficiently – thousands of transactions per second. While Fantom’s goal is to provide compatibility for all global transactions, Degrain already claims to enable users to trade their NFTs between different blockchain networks. Perhaps this is the reason owners of Fantom are now looking towards Degrain.
The crypto market is an ever-evolving industry with new innovations that keep investors on their toes. With the new protocol currently out on the market, Degrain, investors are keeping their eyes on it and are expected to dive in, especially those who are already invested in Fantom and Chiliz.