SmarterWorx beats inflation with a fractionalized NFT platform, while memes like Shiba Inu rely solely on hype
Despite the significant potential for cryptocurrencies to revolutionize finance, most projects have turned into speculative vehicles. Such projects rely on hype to gain value and generate returns. Even then, bearish markets seriously damage such speculation tactics and can cause crypto projects to collapse.
Finally, if crypto is to realize its decentralization mission, projects need solid support, utility, and viability. One project working hard to achieve all this is SmarterWorx. The protocol has laid the foundation for a self-sustaining and efficient ecosystem focused on the trade of artworks.
Understanding SmarterWorx
SmarterWorx is a decentralized protocol for trading fractionalized NFTs (F-NFTs) backed by physical artwork. The platform uses a unique mechanism to increase the income portfolio through well-curated physical artwork. Furthermore, SmarterWorx buys physical art with high resale potential and adds value to the item through tokenization, secure storage and insurance against damage. Afterwards, the protocol creates F-NFTs for retail traders to invest. The NFTs and their underlying artwork are then sold on the SmarterWorx NFT Marketplace.
SmarterWorx also generates revenue from trade taxes on its ecosystem. 4% of the 10% sales tax and 2% of the 6% purchase tax are sent to the SmarterWorx tax. The protocol uses these funds to purchase more artworks from the markets. In this way, SmarterWorx always has artwork on the portfolio.
The $ARTX token facilitates activities on SmarterWorx. This deflationary token also stands the test of time with its SmarterBurn token depletion mechanism coupled with the support of real-world artwork. So, the token’s value never falls under extreme volatility. Instead, $ARTX’s price floor is rising rapidly. The winnings for the earliest backers can exceed 10X.
What is a Shiba Inu?
Shiba Inu is a decentralized community ecosystem with one of the most popular meme coins, $SHIB. Launched in 2020 amid the $DOGE meme coin craze, the ecosystem aims to replace Dogecoin as the dominant fun-centric token. Billed as the $DOGE killer, $SHIB quickly rose through the crypto ranks. However, the hype died down with a growing bearish sentiment this year. As a result, the Shiba Inu is down 75% in 2022 alone.
Last takeaway
Based on $SHIB’s performance, it is clear that hype-driven projects are susceptible to market volatility. Such projects often lack sufficient symbolic utility, prompting holders to panic sell when markets turn bearish.
On the flip side, projects with a strict mechanism to maintain the token’s value can withstand extreme price fluctuations. SmarterWorx’s $ARTX is one such token. The project relies on a finite supply and a buy-back-and-burn technique that ensures the $ARTX supply is depleted over time. The falling supply automatically induces demand for $ARTX, causing the token price to rise.
For a project that remains robust and records growth during a meltdown, SmarterWorx will rise quickly when markets turn bullish.
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