The Bear market is when the crypto market is in a downtrend. During this period, some projects come alive while others don’t. As tough times persist, good projects still show persistence as the team continually builds. As a savvy crypto enthusiast, you should keep your eyes on these projects as they will ride in the next bull run. We will list three of them in this piece if you are looking for such projects.
Before Polygon, scalability has always been an issue in the blockchain ecosystem. Decentralized applications struggle to scale and grow as the blockchain they build is usually congested and slow. At the center of this blockchain, the problem was Ethereum. Ethereum is the most popular blockchain open-source network empowering developers with the tools to create smart contracts. Ethereum, which uses a Proof-of-work consensus mechanism, processes transactions slowly. Due to these struggles, Polygon was born.
What is Polygon? Polygon is a layer-II scaling network that helps reduce the cost of blockchain networks while making them faster. Solely, Polygon was created to aid scalability on the Ethereum blockchain. How? Like its name, Polygon has many sides, shapes, and sizes that would create an interconnected network. Polygon also has side chains that aid the unclogging of the network. Unlike Ethereum 1.0, Polygon uses a Proof-of-stake mechanism for transaction validation.
MATIC is the utility and governance token of the project. Aside from using the MATIC token to make payments, it is also useful for providing computational resources and voting on changes. However, a holder must stake their tokens to contribute to the network.
SuperRare is a Non-fungible token (NFT) marketplace that solely deals with exclusive artworks. SuperRare has marked down a niche for itself in the NFT marketplace sector. It focuses on only exclusive artworks, not tickets, music, or certificates. As an upmarket platform, it brings about the true idea of NFTs—anonymity and exclusivity. Little wonder, the team handpicked artists before their rebrand. Handpicking artists proves that they are the best craftsmen in the market. However, gatekeeping posed a threat to their business. It can even be dubbed a double-edged sword. Why so? The Web3 space (NFTs included) is geared towards decentralization. If SuperRare continues handpicking artists, they become misaligned with the core principles of web3.
The team noticed these flaws. So, they decided to infuse decentralization into their project. While trying to do this, they also ensured that the SuperRare continually showcased quality art. How did they do it? SuperRare created a decentralized autonomous organization that will vet the artists. It worked in two ways: Recommended artists and Independent artists.
Community members must hold the RARE (governance tokens) to do all this. There were also the SuperRare spaces, which a designated operator manages. This operator is voted in by token holders and has the power to recommend artists. Artists who don’t get recommended by the operator can become independent artists. Independent artists can be voted in by community members.
Aside from governance, the RARE tokens will also give holders special access to events and rewards.
Moshnake is a project set to be released in this bear market. So, the team is not promising growth of its token. Instead, it is enabling players to make money off their efforts. Players have to compete in the game to earn rewards. So how does Moshnake work?
Moshnake is a Play-to-earn (P2E) game similar to the classic snake game on Nokia devices. The significant difference between Moshnake and the famous snake games is that Moshnake is built on blockchain technology. Like the snake game, players must make their pets eat eggs. Constantly eating eggs will make the snake grow bigger. However, players would need to purchase an NFT snake before they start playing. On Moshnake, players can get viper, mamba, krait, and cobra snakes.
Aside from NFT assets, there are other tokens in Moshnake. These tokens are MSH and VEN.
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