The utility of a project can determine its role in the crypto ecosystem. These projects are not just crypto, and they provide real utility. If you are a long-term investor, your eyes should be on projects that will remain ever useful. These kinds of projects will continually grow over the course of time. If you are searching for top projects to put your money in, search no more. This piece will introduce three unique projects and their utility token.
Expanding Its User Base – Binance Coin (BNB)
Binance coin is the utility token of Binance, the biggest centralized exchange. The token can be used for a broad range of things, such as for payments and earning rewards. Initially, the token enabled holders to receive discounted fees on Binance. However, its uses expanded as Binance grew.
Aside from being one of the biggest centralized crypto exchanges in the world, Binance is also a layer-I blockchain protocol. Developers can build smart contracts on the network and also design decentralized applications. The Binance chain also supports Non-fungible tokens.
As the Binance coin is tied to the Binance ecosystem, we expect the token to grow bigger in the near future.
Never Far With Near Protocol (NEAR)
Near Protocol is a decentralized protocol utilizing Proof-of-stake mechanism to enable developers to build and run decentralized applications. We can liken Near Protocol to Amazon Web Services (AWS). AWS allows developers to access online servers and databases without necessarily building their own infrastructures. Near protocol operates in a similar fashion, except that it is not centralized.
Near Protocol offers incentives to a network of computers to secure its platform. Even though this technique is similar to other blockchain networks, it is not the same. Near protocol utilizes a design called Sharding. Sharding delegates segmented parts of its infrastructure to nodes. So, instead of a single computer handling the whole process, different computers share roles. With this design, the network processes transactions faster, aiding scalability.
The native token of the protocol is called NEAR. This token enables users to interact with the platform.
Noughties Nostalgia – Moshnake (MSH)
Moshnake is a simple NFT game suitable for players of all kinds. Moshnake is a new game, yet it distinguishes itself from some early players in the NFT gaming world. The game borrows the concept of the simple and the classic snake games. If you remember the game, it has a simple design, and the concept is easy to understand. Moshnake sticks to this feature.
Even though it shares similar features with the snake game, it still brings more innovation to the GameFi sector. What is unique about Moshnake? Moshnake is built on blockchain technology, and it utilizes NFTs for more exciting gameplay. Plus, Moshnake also rewards its players in various ways. In the game, players can compete in the battle royale arena for in-game NFTs, Moshnake tokens (MSH), and eggs. The more eggs a player can eat, the bigger they grow.
Unlike the classic snake game, users don’t bother about crashing into their body parts. Instead, they worry about getting attacked by other snakes in the battle royale arena. In order to play the game, users need to purchase their snakes and pay an entrance fee. These snakes are NFTs, and they are in varying forms. You’ll find the Mamba, Viper, Krait, and Cobra snakes. These snakes have different characteristics that determine their strength and agility in games.
In the game, there are two utility tokens—Venom (VEN) and Moshnake token (MSH). VEN enables players to interact within the game. This token will be used to pay the entrance fee, enter competitions, buy resurrection, etc. On the other hand, MSH is used to purchase VEN and snakes. MSH also serves as the players’ rewards and can also be used for governance.
There is much to the game, Moshnake, many of which have not been mentioned. With all of its unique features, we expect the game to become one of the best in the near future.