Non-fungible tokens (NFTs) have added a whole new dimension to the crypto space. When these first came out, they created a frenzy unlike anything in crypto. What made this phenomenon even more spectacular was how little they were understood.
Now, NFTs have been around long enough that most people in the crypto space understand them. At least most people know the difference between fungible and non-fungible tokens.
But, what started out as digital art has evolved into something else entirely. The more the technology gets poked and prodded, the more use cases emerge for NFTs. Companies are looking into using them for everything from concert tickets to home deeds.
HedgeUp (HDUP) and Shiba Inu (SHIB) are two crypto protocols that are making waves with the interesting ways they are engaging with NFT technology. Let’s take a look.
Shiba Inu (SHIB)
Shiba Inu (SHIB) is a meme coin project with a good amount of after-the-fact utility. As meme coins go, it is the second most popular coin (after Dogecoin) by market cap.
Unwilling to remain number two, Shiba Inu (SHIB) has been slowly building an ecosystem to give SHIB a reason to exist other than as a store of value. In addition to the ShibaSwap DEX and Shibarium, a Layer 2 project, Shiba Inu has a collection of NFTs, 10,000 strong.
The NFTs are collectible as art but are also tied into the rest of the Shiba Inu ecosystem. They play a role in Shiba Eternity, a collectible card game, and are positioned to slot into future aspects of the ecosystem.
HedgeUp (HDUP)
HedgeUp (HDUP) is using NFTs in an entirely different way. In this case, the NFTs are more like receipts for partial ownership of speculative assets.
Alternative assets are a $17 trillion market. They cover everything outside of normal asset classes like stocks and bonds. HedgeUp (HDUP), however, is concentrating on specific types of items that have a massive potential for growth.
These are things like jewelry, exotic spirits, and art. Previously, it was only the very rich who could afford to invest in these things. Now, HedgeUp (HDUP) will make them available to everyone.
After acquiring an item, HedgeUp (HDUP) will store it and generate NFTs for it. Investors who purchase the NFTs will own a slice of the asset behind the NFT. And, as the HedgeUp project grows, the NFTs will increase in value.
Like Shiba Inu, HedgeUp (HDUP) is deploying a full ecosystem. This ecosystem will include a decentralized autonomous organization (DAO) for governance, investing masterclasses for educational purposes, and a metaverse.
The HDUP token gives an investor access to the entire ecosystem. It functions as a governance token on the DAO and gives the holder varying benefits to the metaverse and educational opportunities depending upon how many they own.
The HedgeUp (HDUP) token is currently in stage four of its presale. For now, it is going for $0.036. When stage five gets here, that price will go up to $0.044, so now is the best time to get in.
For more information about HedgeUp (HDUP) presale use the links down below:
- Website: https://hedgeup.io/
- Presale: https://app.hedgeup.io/sign-up
- Telegram: https://t.me/HedgeUpChat
- Twitter: https://twitter.com/HedgeUpOfficial
