In the crypto market there are many virtual currencies with different features and applications. Here are some interesting projects that catch the eye!
In this article, I'm listing a bunch of altcoins that are not as popular as Ether, Chainlink or Tezos, but because of what they have to offer, they have quite a lot of potential. This is of course my subjective opinion, which I would like to share with you (my dear reader). Remember to conduct your own analysis before making any investment. In today's entry I will draw your attention to cryptocurrencies with smaller market capitalization. First of all, I will add that these projects are more risky - due to their lower value (this is market capitalization, not price). Their charts show both more frequent and stronger price fluctuations. Nevertheless, I think that their assumptions are interesting enough to be of interest to them. So let's get started!
Enjin Coin (ENJ)
- CMC ranking position: 57
- Market capitalisation: USD 147 482 177
I place my favourite coin with a smaller CMC in first place. Why Enjin? Well, the project itself is firmly rooted in the game industry. I think it's a very apt combination, because blockchain is being used more and more in this field. For example, NFT tokens (so-called collector tokens) reflect unique items in the virtual world. This in turn is a real treat for fans of multiplayer games!
But what is Enjin really about, what does it offer its users, and what functions does the associated ENJ token have? In simple terms, this project allows gaming companies to integrate with blockchain technology. Using the Enjin infrastructure, they can create digital objects and then place them in their virtual worlds - thus gaining at least a competitive advantage.
In traditional multiplayer games, characters or things that reflect a certain value cannot be transferred outwards. Resources created on blockchain go beyond this scheme. For companies in this industry, developing a marketing strategy that takes this technology into account may prove to be a great success. The magnet for players is, for example, the fact that after acquiring such items they will be able to collect, exchange and sell them.
As for the token itself - the so-called Enjin Coin (ENJ) - it was aired in the ERC-20 standard on the Ethereum blockchain. Every virtual object created by developers within this platform and then placed in games can be easily exchanged for ENJ coins.
The assumptions of the project are quite promising, what's more, my attention has been drawn by the fact that Enjin Network has been on the market since 2009, since then it has managed to gather a large community of users. Although Enijn Coin was launched at the end of 2017, it did not start from scratch, as it already had a well established brand and reputation.
- CMC ranking position: 25
- Market capitalisation: USD 573 749 916
In simple terms, Cosmos aims to make it possible to integrate the blockchain between themselves. In other words, it is to allow them to communicate so that there is no need to use third party services, for example to exchange tokens.
As regards the coin belonging to this project, it was issued on Ethereum blockchain. Its main role is related to stamping. What does this actually mean? Well, in simple terms, users called validators store their tokens in a crypto wallet to secure the network. But they don't do it for free. They get rewards for locking their coins.
Cosmos is undoubtedly a project with great ambition. As one of the few ICOs to have kept its long-term promises. It is also worth mentioning that it has gained appreciation from the Binance crypto exchange.
- CMC ranking position: 115
- Market capitalisation: USD 46 373 436
My TOP 3 low market capitalization projects also include Unibright, which has not been much talked about so far. What does it stand out and what does it have to offer its users? Well, this platform was created to help companies in blockchain-based implementations. In other words, it offers help from specialists, consultants and programmers with years of experience in integrating this type of solutions.
Unibright provides its customers with a suite of tools to help them increase productivity and efficiency. This platform is designed to simplify all aspects of blockchain integration for businesses.
What is the application of UBT token? To use the services of the Unibright project, customers need to purchase and then pay the appropriate amount of these coins to unlock access to the platform offerings. The good news for UBT token holders is that their supply is limited and that increased demand leads to a decrease in demand. This is because Unibright customers cannot withdraw their tokens again after they have deposited them on the platform, as they are blocked in the smart contract for the entire duration of the contract. Thus, UBT's tokens are removed from the open market.
What happens to tokens from expired contracts? They just go back to Unibright. Of course, it was originally planned to sell them on the open market, but the idea went away. As for the goals of this project by the end of this year, it is, among other things, to win more customers, so that we can block about 15-25% of UBT tokens inside the platform.
In the case of Unibright, however, there is quite a visible flaw, which should be mentioned here. Well, it is competitiveness. This project faces many challenges, it must first of all increase its network of partnerships so that another company with the same idea does not outdo it in this field. By the way, Unibright joined the Libra camp in 2019.