Cape Coral, Florida, 3 Nov 2021, Pawn My NFT is happy to announce the launching of a new revolutionary NFT Utility. CryptoPunks selling for millions, new marketplaces every month, new collections minting out (and not minting out) every week, and thousands of transactions a day. Will it ever stop?
The NFT market is growing at an exponential rate. It seems anywhere you look these days you’ll find these three fabled letters and hear some sweaty guy or gal ready to explain to you exactly what a Non-Fungible Token is. They will probably tell you about punks, and apes, and robots. They will tell you that you can turn your dog or cat into a token and how the blockchain is forever. They will use words like burns, mints, rares, and gas and won’t be talking tic-tacs or steak.
When you check the scoreboard, it becomes quite apparent that nothing seems to be stopping this enormous wave in the cryptocurrency industry. Like it or not, understand it or not, the fact is set in stone and the blockchain; NFTs are the future and are not going away.
$SHIB is up almost 800% in the last 35 days and its market capitalization is $38 billion. The global NFT marketcap is $43 Billion and shows no signs of stopping. Where do we go from here?
According to research data published by Wette.de, the entire NFT space has a market capitalization of $43.08 billion and its trading volume is around $3.6 billion, and that’s not including the ones that have been lost at sea (inactive wallets) or burned. Save your seed phrases people!
Interest in NFTs has seen a parabolic rise the past year. Based on data from Google Trends, August of this year had a worldwide interest in the NFT asset class rocket by a whopping 426%.
During early August “how to buy NFT” had 20 search points per day. By August 29th, it had risen to 100. The level of search interest is measured in points, with 0 being the lowest and 100, the highest. The stats simply do not lie.
For the past ten months, NFT sales per week have ranged between $10 million and $20 million, with several crazy runs that have seen up to $170 million in sales in a week.
As of October, Beeple is still the top NFT artist with a total artwork value of $145.03 million. According to Cryptoart.io, he has sold 1,346 artworks so far with an average sale of $107,752. The second-ranking artist, Pak, is getting lapped on the track at $56.41 million in total value.
Oh, not to mention Bitcoin cracked an all-time high this past week. Hard to see this growth stopping any time soon!
With the NFT market showing no signs of slowing, it’s inevitable that the boldest developers in the crypto space will go to great lengths to innovate on top of the unbelievable growth that is already happening on our screens. The ecosystem has seen many attempts at staking, defi and other gimmicks to try to capitalize on the NFT boom, but I believe the mother of them all has arrived.
With an admittedly simple name that belies the complexity of what they are building Pawn My NFT (launching November 3rd on BSC) has a massive head start on really making noise in the nascent NFT community.
With a well-known and trusted development team that is fully doxxed and available for investor inquiries 24/7 (a rarity on BSC) they have launched several successful projects on the chain and managed to leverage that reputation into a successful round of private fundraising before launch.
The lending works as follows: User A puts an NFT asset up for collateral and seeks a loan. User B offers User A lending terms. Once accepted, the transaction is done through the platform, funds are released to User A and his asset is locked. If a user does not pay back the agreed-upon loan in time, the lender keeps the asset; in this case an NFT. The whole process is secured and safeguarded in a smart contract.
In addition to offering P2P lending with adjustable parameters, they will also offer compatibility with multiple Blockchains. With the amount of new NFT collections selling out every day on Ethereum and most recently the Solana blockchain, it makes sense to plan for full cross-chain compatibility.
As for the lending, the project will start with ERC-721 NFT compatibility and have instant offers on select popular NFT collections such as CryptoPunks.
This team calls themselves innovators and they certainly appear to chase that label with vigor. They are the same team that started the entire rewards token run on BSC with Baby XRP. The list of goals for Pawn My NFT is admittedly a bit lengthy but the roadmap manages to touch on several exciting things such as rarity tools, floor price checks, a social upvote system, and advertising space for upcoming NFT projects on the blockchain.
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