A growing number of crypto NFTs are hitting the market, as the global community continues to experiment with blockchain technology. xDai Tigers is a new NFT-based project all set to be launched on xDaichain. The xDai Tigers collection includes 5,555 different Tigers; all generated randomly on the xDai chain. Each NFT provides access to members of a passionate community that loves the low gas fees of xDaichain. Tiger owners will have equal access to event hosting and events in the metaverse.
The xDai chain is a decentralized Ethereum-based sidechain that employs a PoS (Proof-of-Stake) system. It has been operating since late 2018 and is based on a stablecoin, xDai. Transactions on the xDai chain are “super quick, very cheap, and require a single token (xDai),” according to the official website.
Why are NFTs Gaining Popularity?
An NFT is a cryptographic token, similar to a cryptocurrency, that is stored on a blockchain and can be used to verify ownership, provenance, and identity of anything – intangible or physical – for instance, collectible cards, artwork, or real estate.
The crypto NFT space has been growing by the minute. NFTs (Non-Fungible Tokens) are unique because each unit is different. The details on how they work are a bit complex, but in general, crypto NFTs are starting to gain traction. They have been popular in the gaming community for a while, but their use-cases are being shown to be more widespread every day.
A key benefit is that crypto collectibles are not just digital assets – they have the potential to provide utility. For example, a scarce token can be used to buy physical goods. Since there’s a fixed amount and no more can ever be made, the price of a crypto collectible increases in line with demand.