.png)
.png)
Here at Professional's Review, we have been closely watching the booming NFT market. In the last week or two, we have seen NFTs become the forefront of the cryptosphere, gaining a tonne of mainstream attention. As an avid investor of cryptocurrencies, it brought me much joy seeing Beeple’s digital art being sold for over 69 million dollars! One thing which has concerned me regarding NFTs however if their lack of utility; for many of the NFTs on the marketplace, they simply act as a piece of tradable art. Whether the hype for tradable art can be sustained however is a different question. This is why we have found our latest gem Shroom.Finance ($SHROOM)
To join the action where we discover gems, review their potential, and share our knowledge head over to our community group on telegram!
Join our telegram here: https://t.me/ProReviewGems
Shroom is a DeFi protocol and DAO which focuses on video game-based Non-Fungible Tokens. Shroom intends to provide in-game asset minting, launching, and trading of virtual items, which can be used within video games. By providing such a system, it would help video game developers to decouple, and easily bootstrap their in-game economic structures and currency systems. Shroom intends for a future where in-game assets, fungible and non-fungible can be traded between gamers in a completely decentralized fashion. Shroom would like to act as that decentralized network, and with the use of their DAO they can facilitate the ownership of such tokens to their community of gamers.
By adding a utility to NFT’s, it will increase the demand and desire for the tokens to be obtained. In-game assets are already a huge deal within the industry; the gaming industry itself is expected to surpass $200b by 2023, and it has been found by Juniper Research that we can expect video game assets to trade over $50b a year by that time. In-game tradable NFTs could be extremely useful for the developer and for the user alike. The developer has the chance to bolster the ecosystem and monetisation of their video games, and the user has the ability to obtain items which are exclusive to themselves. Projects such as Shroom could unlock new opportunities for the developer and the gamer alike.
Shroom will also be launching an upcoming DEX for the trading of the in-game assets called GameSwap. It will act as a peer-to-peer in-game asset exchange for the NFTs and will be similar to other decentralized exchanges such as Uniswap and PancakeSwap. A token, GSWAP will act as the base currency for the DEX, acting as the gas for transactions. The intention for GameSwap is to act as a bridge between gaming and crypto asset trading, with GameSwap giving a simple means for gamers to purchase or trade their existing NFTs. Shroom intends to partner with many developers in the future to ensure that GameSwap will feature items from a wide range of games across many different genres and platforms. Their first mainstream partnership was with Avalanche, and some games will already be integrated into the GameSwap DEX.
Shroom certainly seems like a project with a tonne of potential, and their whole project is focused on putting the power and the enjoyment of gaming NFTs into the hands of the gamers themselves. We believe the upside for this project could be absolutely huge, and it could act as an innovation both for NFTs and for gaming itself. Shroom as of February 2021 is sitting at just over a $20M market cap, however Shroom are targeting a market cap of $1Billion in the years to come, which shows that there is so much room for growth!
Please be advised that this does not act as financial advice, please trade at your own risk!
Don't forget to join our telegram to see our articles & our weekly AMAs! This week we have 2 AMAs, on Wednesday & Friday with NFY & COVAL! Don't miss them!
Join our telegram here: https://t.me/ProReviewGems
If you would like to learn more about SHROOM please check out the following links;
Website: https://shroom.finance/
Telegram: https://t.me/shroomfinance
Opmerkingen