Exclusive 5 Under-the-Radar DeFi Platforms Supporting the NFT Space

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In Brief
  • The DeFi space has seen record growth this year as Total Value Locked in the space tripled this year alone.

  • Concurrently, the NFT space is receiving an equal amount of attention from both within the crypto space and the mainstream.

  • Many projects now look to combine the two spaces, bringing DeFi NFT marketplaces to the forefront.

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As the non-fungible token (NFT) market heats up, BeInCrypto explores five DeFi platforms, building buzzing NFT marketplaces.

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1. Axie Marketplace

Axie Marketplace is the official NFT market for collectibles in the Axie Infinity game universe. More specifically, Axies are cute avatars with which users can explore the Axie world.

These avatars, in NFT form, can sell for as much as $4,500 (3 ETH) and come with several different characteristics such as body parts, skills, speed, health, morale, and class.

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The marketplace itself a fully decentralized exchange (DEX), running on the Ethereum network. Recently, the platform’s native token AXS doubled in price, owing to the game’s renewed popularity.

2. Decentraland

Decentraland (MANA) is a fully decentralized virtual world. Launched in 2017, some describe the virtual world as the decentralized version of popular online space, Second Life.

Users can create roam the world, socialize with friends and create almost anything which the platform then stores as NFTs. Indeed, Decentraland developers pit the world as the first such owned entirely by its “citizens”.

Within the world itself, there are numerous NFT art auctions and giveaways. The platform also has its own native token, MANA, which users can use to buy virtual land parcels in the world.

3. Terra Virtua

Terra Virtua (TVK) claims to be the most immersive digital collectible platform in the NFT space. Moreover, it also boasts NFTs from some of the most famous names in the entertainment industry.

NFTs include merchandise from top-shelf games such as Pasific Rim and Top Gun, as well as collectibles from age-old classics such as The Godfather movie.

Terra Virtua also hosts an interactive space, which can take the form of a modern art gallery or exposition hall. In its most valuable sale, the marketplace hosted a collection called Voice Note Art 2020, which sold for $10,000.

4. Rarible

Rarible is a blockchain-based NFT space for creators and collectors, allowing creators to create pieces directly onto its blockchain.

Unlike other platforms that either use third party apps or require development knowledge, Rarible requires no code, simplifying the creation process.

The platform has a native governance token called RARI which gives the Rarible community a say in the direction of the platform’s development. Indeed, the platform is run by a fully decentralized autonomous organization (DAO).

5. AtomicMarket

AtomicMarket is a shared liquidity marketplace for NFTs. It is used by multiple portals (or websites) to display NFTs hosted on other marketplaces.

Essentially, it is a smart contract into which multiple marketplaces inject liquidity for each NFT they host that can be seen by the other marketplaces.

Indeed, its ultimate aim is to create a standard universal for the NFT space. Its native token, WAX, currently has just over $17 million staked.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
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Emmanuel entered the cryptocurrency space in 2013 as a cryptocurrency broker. He is a crypto-enthusiast, entrepreneur, and investor, who has built and led several projects and communities in the space. He is CEO and co-founder of Provence Intelligence, a boutique crypto-consultancy firm that aims to bridge the gap between the cryptocurrency and DLT space and the traditional world. Interests include DeFi, non-blockchain DLTs, and the synthetic derivatives space.

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