The DeFi (decentralized finance) market has become an exciting sector within blockchain technology. The sector enjoys continued growth and could be on the way to the next upside wave.
Most decentralized finance projects are adopting NFTs (non-fungible tokens), which can prove ownership and store value. DappRadar report shows NFT trading volume recorded a 533% Y/Y growth amidst Q2 2022.
Consequently, established names within the crypto, such as Solana, Fantom, and Polkadot, carve their spots in the NFT and DeFi spaces. However, the new player Uniglo (GLO), might be shaking the spectrum for them.
Uniglo (GLO)
Uniglo (GLO) is a new ETH-based project targeting a spot within the NFT market and DeFi sector. It presents investment opportunities that comprise indirect ownership of different assets within the Uniglo Vault.
The vault comprises a strategic mix of crypto and NFT-associated assets that the community handpicks to help persevere bear markets and fluctuations. Uniglo’s primary chain doesn’t force the project to collect only limited NFTs. Thus, its principle involves Everything, Everywhere, at Once. Furthermore, Uniglo supports integrated protocols and value transfer and targets to build vaults in different chains, including Binance Smart Chains, Polygon, Solana, and Ethereum.
Polkadot (DOT)
The Polkadot network allows cross-blockchain transfers of assets and various data. The ecosystem supports protocol integration, value transfers, cross-chain communications, and multiple other DeFi activities. Meanwhile, Polkadot attains global adoption within no time following its launch in China. Users can access the crypto in leading exchanges, including OKEx and Binance. Moreover, it boasts multiple NFT projects, including Kanarias, Skybreach, and RMRK.
Fantom (FTM)
Fantom is a scalable ‘smart’ contract network for the decentralized finance market. Developers prefer the platform due to its swift transactions that could take less than two seconds. Fantom became the 3rd largest DeFi network by TVL as 2022 started, with January’s third week recording a 52% TVL surge for DeFi projects within the Fantom blockchain. Moreover, its plans to expand its NFT space. Fantom’s low-cost and scalable capabilities are well set for an NFT ecosystem growth.
Solana (SOL)
Solana is the fastest blockchain globally and hosts thousands of decentralized finance (DeFi) projects. Meanwhile, it has attracted NFT and DeFi projects due to its exceptional security, high speed, low fees, and scalability. DappRadar report shows Solana outshines all networks in 2022 Q2 in NFT trading volumes.
Conclusion
The NFT space and DeFi market are attracting investors, users, and developers as lucrative opportunities and practical applications emerge for blockchain. Uniglo is the new gem with a solid object to establish a position in the NFT and DeFi industry.
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