In order for NFTs to realize the potential of their meritocracy, it is necessary
For many, cryptography yes web 3 offer you the opportunity to create a more equitable and autonomous platform for owning your assets, with NFT as the main driver of the ecosystem. While growing pains are normal, for any rising industry, ETH-related gas quotas for trading and guessing NFTs are sometimes so high that there is a lack of efficiency in the market. This creates a barrier to entry of low- and medium-cost products.
While this isn’t a problem for higher-level NFTs like the BAYC we’ve seen selling for millions, it’s a problem for meritocracy, as the average trader wouldn’t be able to justify a $ 50 gas fee for a purchase. It has a sales value of $ 300. Thus, the system created to alleviate major barriers to entry and institutional monopolies has also received a similar problem from the widespread demand we are seeing.
So while we shouldn’t criticize the Ethereum Blockchain too harshly, as it laid the groundwork for future success on Web 3 and Metaverse, we should welcome competition and alternatives that enhance meritocracy that help NFTs realize their true potential.
The usefulness of parody
This is an initial project that has been getting a lot of attention lately Parody coin (PARO). Parody Coin aims to address the issue of ecosystem meritocracy by developing a platform that allows users to exchange and trade parody versions of popular NFT coins. Although NFT is not unique in most cases to the availability of functional NFTs, users can get value in the same way as the original NFT.
Also, if the owner of an NFT bought a parody, he could have burned the original to make it an original parody. On the surface this may seem outdated, but what would allow users to take advantage of low gas rates in the Parody Coin market and create a more competitive market.
The potential of this feature is very, very interesting and is the most exciting component of PARO. It encompasses all the philosophies that surround why so many people exist in the ecosystem and alleviates the problem we see in many markets with a high gas rate.
Paro and Tokenomics Awards
To complement the usability of the protocol, Parody also has strong tokenomics and offers users the chance to win prizes in their original currency, the Parody Coin. There is also a ParoReward scheme to keep the token simple. Sharing is one of the best ways to support your network and receive rewards; however, a minimum lock-in period of 2 weeks will be required to receive prizes. This is very reasonable for initial coins, where a much longer lock period is required and some users may get nervous, but with a minimum period of 2 weeks it will not be a problem.
Moreover, Parody The coin is an active deflation, which means that over time the coin will be appreciated as measures to combat inflation exist, combined with smoking and redistribution to those with tokens.
The launch of the IDO is scheduled for the summer of 2022 according to Pancakeswap’s white paper, with 70% of the total provision planned to be released to the public and 15% to be allocated to community awards and incentive schemes to benefit those who decide. in the protocol.
A compelling project
With its pre-sale being one of the most successful new NFT-related projects lately, many already agree that Parody will be a serious competitor in the market and it’s easy to see why. Basically, it is a protocol that seeks to address a serious problem in an ever-expanding market that involves a philosophy that can easily be accepted by a community given the importance that a community places on meritocracy and equity. To launch strong tokenomics, Parody may be an NFT-based project that you should consider adding to your portfolio and at least delve deeper into exploration.
For us Parody is a really attractive project.
Keywords – Parody Coin (PARO), NFT, Web 3, Marketplace, Tokenomics, Pancakeswap
Parody coin (PARO)