Enjin Coin (ENJ), Aavegotchi (GHST), and These 8 Crypto NFT Projects Showcase High Development Activity That Could Trigger Price Rallies
Leading on-chain analytics firm Santiment has identified several crypto projects in the NFT space exhibiting heightened development activity over the past 30 days. A surge in code commits and GitHub contributions often signals an upcoming launch, upgrade, or major protocol enhancement, potentially increasing investor confidence and fueling token demand. Below are the top projects in this category.
Decentraland (MANA)
Decentraland is a virtual world platform built on the Ethereum blockchain, allowing users to purchase, develop, and monetize virtual land and assets in the form of non-fungible tokens (NFTs). MANA is the native cryptocurrency used to facilitate transactions within this virtual realm.
Flow (FLOW)
Flow is a layer 1 blockchain created by Dapper Labs, specifically designed to support the NFT ecosystem. The platform caters to unique, non-interchangeable tokens, aligning perfectly with the nature of NFTs. Flow’s technology enables the creation, ownership, and trading of NFTs, making it an integral part of the NFT space.
Metaplex (MPLX)
Metaplex is a decentralized protocol built on the Solana blockchain that facilitates the creation, management, and trading of digital assets and NFTs. MPLX serves as both a governance and utility token within the Metaplex ecosystem.
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Enjin Coin (ENJ)
Enjin Coin (ENJ) is the native token of the Enjin Blockchain, a custom-built blockchain designed specifically for NFT transactions at the protocol level. The Enjin Blockchain is the world’s first purpose-built blockchain for games and apps, offering scalability, security, and simplicity for NFT integration.
The Sandbox (SAND)
The Sandbox is an open-world survival game where players construct giant Tramplers to navigate the dunes of a ruined civilization. The game offers a vast, open-world experience on the fallen planet of Sophie, filled with obstacles and adventures.
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Aavegotchi (GHST)
Aavegotchi combines decentralized finance (DeFi) and NFTs in a gaming ecosystem hosted on the Aave protocol. Inspired by the Tamagotchi craze, players can create and nurture digital creatures called Gotchis, represented as NFTs that can be staked, upgraded, and interacted with within the Aavegotchi world.
Axie Infinity ($AXS)
Axie Infinity is a popular play-to-earn (P2E) blockchain game where players collect, breed, and battle digital pets called Axies, which are represented as NFTs. AXS is the native governance token used for purchasing in-game assets, breeding new Axies, staking, and trading on the Axie NFT marketplace.
Monaverse (MONA)
Monaverse is a 3D world-building platform and web3 social network for the metaverse. It empowers users to create, collect, and share immersive experiences on the blockchain, contributing to the growth of the Open Metaverse. The platform provides tools for architects, game designers, artists, developers, collectors, and explorers to build and interact within the Monaverse.
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Show more +NFTX (NFTX)
NFTX is a protocol built on Ethereum that allows users to deposit their NFT collections into vaults and receive ERC20 tokens in return. These tokens can then be utilized within the broader DeFi ecosystem, enabling users to use their NFTs as collateral for various DeFi activities like lending, borrowing, and participating in index products.
Starkpunkcoin (PUNK)
Starkpunks is the first 10K NFT collection launched on the StarkNet layer-2 scaling solution for Ethereum in 2022. The project’s native token, $PUNK, is used within the Starkpunks ecosystem for purchasing NFTs, paying gas fees, and potentially staking and governance.
Potential Rise in Price for the Tokens
High development activity across these NFT-centric projects often signals upcoming launches, upgrades, or significant protocol enhancements. This increased commitment to innovation and growth can boost investor confidence and drive demand for the underlying tokens, potentially triggering price rallies.
Substantial development efforts by projects like these demonstrate their dedication to pushing boundaries and unlocking new use cases. Improved utility, user adoption, and overall ecosystem expansion could collectively fuel a rising tide that lifts the valuations of the powering crypto assets.
While development activity alone does not guarantee price appreciation, it is frequently viewed as a positive indicator by market participants. As these NFT platforms roll out new features, experiences, and value propositions, the associated tokens could experience heightened demand and potential price upswings.
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