HALO Network: Unleashing The Capabilities Of NFT Applications
With Facebook toying with the idea of a metaverse, a lot more people have left their positions on the ‘fence’ regarding the virtual world to a more active role. At the moment, NFTs and dApps built around these non fungible tokens are becoming rampant thanks to greater adoption.
NFTs are pushing the limits of creativity in a virtual environment where the impossible doesn’t exist and your favorite brands — Nike, Mercedes, and others — have caught on. Decentralized applications provide ways for maximizing the potential of these non fungible tokens.
HALO Network’s Role
Blockchains like HALO Network support NFTs, providing a credible store of information on these tokens. With the digital ledger, NFTs are accessible to anyone, eliminating the middleman.
HALO Network has a framework built for decentralized finance applications. However, the blockchain is opening its doors to the exciting world of NFTs.
Besides being the record keeper for NFTs, HALO Network will support the trading of these non fungible tokens. HOSWAP just recently announced its NFT marketplace plans, which is an indication of the plans of the blockchain.
HALO Network continues to provide the enabling environment for new dapps to meet the growing demand for digital products and services.
Cosmic NFT Game Launch — The Impact Of HALO Network
One of the dApps that have found a way to leverage non-fungible tokens using HALO Network blockchain is Cosmic. The play-to-earn game taps into NFTs to deliver an enjoyable money-spinner for its players.
The Cosmic NFTs are incredibly popular due to their uniqueness, added utility coupled with the first-mover advantage on HALO Network. Perhaps this explains how quickly the NFTs were sold out on launch day.
Since Cosmic NFTs will be the first play-to-earn game on HALO Network, it’s no surprise the increased enthusiasm in the project. Being the first GameFi project on that blockchain is a big boost for these NFTs.
HALO Network also brings its numerous operating ecosystems to the play-to-earn game. With efficient ecosystems like HALO Bridge, HALO Community, and others, the Cosmic Universe is more fluid and magical.
HALO Network allows a plethora of utilities for Cosmic NFTs. The non-fungible tokens can be burned, staked, and more — which are made possible thanks to HALO Network. It’s the blockchain’s support for NFT staking and mining that gives Cosmic NFTs their purpose.
The digital ledger has such a massive impact on Cosmic NFTs though the blockchain is largely new to non-fungible tokens and their range of utilities. We can tie this impact to the infrastructure capacity of HALO Network; it’s unrivaled in this area.
Why Cosmic GameFi?
With play-to-earn games growing in their numbers, the average investor has to think about the ‘Why’ before the ‘How’. The same applies to Cosmic GameFi. Besides being the first on HALO Network — which is a massive edge for the GameFi — it has a well-thought-out ecosystem.
The NFTs will be quite useful in the game, so holders will get a decent return on their investment in record time. The utility is everything for an NFT, and that’s something the Cosmic NFTs have in great quantity.
Utility isn’t the only angle that buds well for the GameFi, the NFT supply is kept in check. Cosmic will have regular NFT burns to cut down the supply of the non-fungible tokens, creating scarcity that results in a more valuable digital asset.
Unlike most NFTs where illiquidity is an issue, Cosmic NFTs can be sold at any time thanks to an active marketplace that’s driven by a demanding and exciting game. The ease of trading this NFT without expending huge resources on gas fees (made possible by the low fees on HALO Network) is certain to sway investors.
In the Cosmic universe, you can spend the native token, MOX, in equipping your characters with the necessary in-game items. With the surge in MOX use, demand for the token will increase, which is something the early adopters will be pleased with.
There are also plans to support the use of HO on Cosmic GameFi. Such a move will see the native token of HALO Network get more visibility. The close tie between HALO Network and Cosmic GameFi is expected to reflect on HOSWAP’s delve into the NFT marketplace. You will get the chance to trade Cosmic NFTs on the decentralized exchange when it goes live soon.
Conclusion
HALO Network has all it takes to make NFT applications even better than what’s attainable at the moment. Cosmic GameFi, the first NFT project on the blockchain is already buzzing in the crypto space despite not scratching the surface of its potential. With the success of Cosmic GameFi, more NFT dApps will join the HALO Network family.
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