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.
Martin has been following the crypto space since 2013. He is a passionate advocate for blockchain technology, and believes that it will have a profound impact on how people live their lives. In addition to being an avid blogger, Martin also enjoys writing about developments in the industry as well as providing useful guides to help those who are new to this exciting frontier of finance and technology.