Why is Snowfall Protocol garnering so much attention?
Several metaverse projects have emerged after Meta (Facebook) disclosed its plans to create a dream virtual world where everything is possible. Metaverse worlds like Decentraland and The Sandbox have seen a spike in user activities. However, were they able to live up to users’ expectations?
Investors have shifted their focus to more ingenious developments with better use cases. One of them is the cross-chain bridging solution from Snowfall Protocol (SNW) that has seen unprecedented growth in only a few weeks of launch.
Still in the presale stage,Snowfall Protocol (SNW) has raised $5 million, and experts think its price will reach 1000x. Read on to find out more about why Snowfall Protocol (SNW) garners so much attention, even more than metaverse projects.
Decentraland is one of the notable metaverse projects, and its token, MANA, was one of the best-performing tokens of 2021. However, the crypto winter came and withered more than 94% of MANA’s value. Its price plummeted from the $5.199 all-time high in November 2021 to $0.284.
Fortunately for metaverse enthusiasts, MANA started 2023 impressively with good retracements. The token has seen bullish turnover and is up by 132% this year. Consequently, MANA is trading at $0.69.
This gain can be attributed to the numerous partnerships that Decentraland is gaining. The 2023 Australian Open metaverse grand slam tennis tournament is set to return to the Decentraland metaverse. Hence, we may see yet another bullish run for metaverse tokens, especially MANA.
The Sandbox is a decentralized metaverse where anyone can create and monetize immersive gaming experiences. The Sandbox focuses on creating an innovative gaming experience, while Decentraland is a better fit for wider and general real-world applications beyond gaming.
On the other hand, Decentraland is not better suited for gaming. Yet, its focus on creating art and experiences makes it more suited for a dream metaverse. In fact, Decentraland offers support for virtual events, concerts, and shows. Notable shows in Decentraland include the sports tournament, NFT Shows, Fashion Shows, Quest and Live Draws, Music Fests, Concerts, and so much more.
Snowfall Protocol (SNW) is a new blockchain protocol built to enhance seamless asset transfer between more than 200 EVM and non-EVM compatible networks. The project is taking multi-chain asset transfer to a new level, and investors have shifted their focus to its ingenious use cases. Although the protocol is yet to be launched, its prototype has wowed every crypto enthusiast, and demand is growing tremendously.
In the last ten years, blockchain has seen rapid technological change and the development of newer priorities, applications, and protocols. For investors, a cross-chain bridging solution like Snowfall Protocol (SNW) will be the peak of blockchain’s future development. Therefore, it is not surprising to see why they choose SSnowfall Protocol (SNW) over metaverse projects.
Basically, Snowfall uses a new canonical token bridge to provide a secure and accessible way to transfer assets between different blockchains. It is also the first bridge to support multi-chain transfer for nonfungible tokens with its swap and wrap system. This will help build and use infrastructures that are interoperable and accessible to everyone.
Since its launch, the Snowfall Protocol token ($SNW) has garnered everyone’s attention. Holders will earn passive income from staking the token and enjoy decision-making rights within the protocol. The token currently trades at $0.191 at presale and has gained more than 800% since the presale started.
Anyone can invest in Snowfall Protocol (SNW) tokens. All you have to do is sign up and buy the token. It is still very much underpriced, and analysts are sure its use cases will boost its value by more than 1000x.
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