Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.
Cryptocurrencies have become a major trend in the larger global financial markets scene; this ecosystem is now close to USD 2 trillion in market cap, featuring over 13,000 digital assets. Unlike the early Bitcoin days when retail investors dominated the market, it has evolved to attract institutional investors such as Microstrategy and Tesla.
Going by historical statistics, one can understand why more players are joining the crypto ecosystem. For starters, this market has outperformed traditional markets for the past decade. This year seems even more lucrative following the rise of Decentralized Finance and Non-fungible tokens (NFTs).
So, how can prospective investors scout for the right projects? Like traditional finance investments, one has to do proper due diligence before allocating capital. Some of the factors to consider include the team behind a project, tokenomics, security and the value proposition.
With the market slowly bouncing back to life, the next section of this article features three fundamental projects that will likely pump in April. Notably, they all fall within the DeFi and NFT scope; two of the most popular crypto trends within the past three years. Let’s take a deep dive into their fundamentals to get a better picture of why they will likely be the coins of Q2.
Envision is a decentralized stock content platform designed to empower creators through a peer-to-peer marketplace. This ecosystem leverages smart contracts and a native ERC-20 token (VIS) to enable content creators to sell their work directly instead of paying hefty fees to centralized service providers.
Stakeholders in the creative industry can access the Envision marketplace by connecting to the platform and creating a profile through their metamask wallets. Some of the stock content that one can upload on Envision includes photos, videos and other digital records. In return, the platform mints this information as NFTs, giving a creator exclusive rights to their content.
Creators also have the liberty to set a preferred price for their work, an approach that is more favourable compared to the minimal commissions offered by centralized stock content platforms. On the other hand, it is much easier for stock content buyers to track the ownership of a particular piece of content through the on-chain NFT data.
Ignite Tournaments is a play-to-earn (p2e) esports gaming and streaming platform powered by a native token ($TENKA) and NFT infrastructure. The application allows users to create and join tournaments by staking the $TENKA token as entry fees. In addition, one can farm more $TENKA while participating in the featured tournaments.
Given the rising popularity of the p2e model, Ignite Tournaments is one of the platforms that is completely changing the game. Players who stake their $TENKA for participation will not only be eligible for the pool prizes but other EMV-compatible NFTs. These digital collectibles can be traded on the Ignite Tournaments application, which works on both Android and iOS.
Taking one step closer to the future, here are some distinctive attributes of #ignitetournaments👌Come on over, we are discussing in-game ecosystem features to #igniteyourgames!✨🔖DYOR and you will be amazed👀 pic.twitter.com/9x0f5GoE85
— Ignite Tournaments (@igniteyourgames) February 16, 2022
Some of the notable achievements of this project include a USD 3 million seed round led by Ascensive Assets and YGG. They also raised another USD 7 million in a strategic funding round that attracted prominent investors, including Animoca Brands, Moon Holdings and Infinity Venture Crypto. As it stands, the Ignite Tournaments community hosts over 80,000 members.
LunaFi is a decentralized betting protocol that allows stakeholders on the platform to become the house by providing liquidity. The project has created a trustless and fair environment that relies on smart contract infrastructure to automatically execute the requirements of a particular betting outcome.
Powered by a native token dubbed LFI, LunaFi is host to a pioneer non-custodial DApp betting protocol known as Lunabets. DeFi users can leverage this protocol to place bets whose payout is guaranteed by the underlying smart contract infrastructure. Furthermore, the platform rewards players and LPs with LFI tokens for their contribution.
9 Days and counting until our IDO game launches! Don’t miss out on your chance to win your share of #LFI. #LunaFi! 🔥💥🚀 Learn about it now on our discord ‘crash game FAQs’ before it takes off April 1st! ⁰#winning #IDO #Crash #gamefi pic.twitter.com/QufDEyQnw1
— LunaFi (@LunaFi_Project) March 23, 2022
As for the funds’ storage, LunaFi has introduced a Treasury DAO that functions as a cold wallet. This DAO wallet distributes profits to the players and rewards as per the pre-coded smart contract conditions. Notably, the LunaFi community can also engage in the platform’s development by staking on the $LFI Pool, allowing them to vote on improvement proposals.
While the crypto market is full of surprises, one thing is for sure; fundamental projects have a high likelihood of gaining both active users and increasing market capitalization. The projects featured in this article are some of the promising innovations that will likely follow an upward trajectory in the coming months. That said, one cannot ignore the volatility of crypto markets, it is prudent to carry out proper due diligence and invest conservatively to preserve one’s capital.