Crypto trader and influencer Tyler Swope is offering his take on the best way to approach the booming non-fungible token (NFT) sector of the crypto markets.
Swope says the smartest way to invest in custom crypto-collectibles is to put capital into NFT infrastructure tokens.
The crypto trader names NFT creation and trading platform NFTX (NFTX) as one of the altcoin projects that’s likely to benefit as it is set to be integrated into OpenSea, the biggest crypto-collectibles marketplace.
“OpenSea is the largest NFT marketplace growing each day… But OpenSea as of now is just a P2P (peer-to-peer) marketplace for NFT buying and selling. They connect a buyer and a seller. There is no trading per se, with liquidity pools and DeFi…yet!”
Swope explains that a cross-asset swapper of NFTs on the NFTX platform is in the works, which will allow users to exchange crypto-collectibles in one transaction on marketplaces. He says this will also benefit NFT-tokenization and trading-enabling protocol NFT20 (which has the $MUSE token) besides NFTX.
“If you have an NFT, and you want to exchange it for an NFT which is on SALE on Opensea, you would be able to do the whole exchange in a SINGLE transaction… that is freaking bullish for NFTX and NFT20.”
Swope is also bullish on the collateralized NFT loans marketplace NFTfi, which doesn’t have a token just yet.
He cites a blog post released in late February where the NFTfi team discussed their plans for the future.
“They spoke of a token. A governance one. The team said ‘Governance token: From the start, we wanted to make NFTfi a community-owned and operated platform. The governance token is the first step on that journey'”
Swope says he expects NFTfi to consider airdropping tokens to users of the platform, which is already up and running.
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Featured Image: Shutterstock/REDPIXEL.PL/Tithi Luadthong
