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Highlights
- With KnownOrigin marketplace’s acquisition by eBay, the spotlight is now on NFT marketplaces
- Many NFT marketplaces also have their own native crypto tokens, which trade independently
- The wider cryptoverse is not shining bright this year, which calls for the unearthing of hidden gems
It takes a closer look for anyone to find a hidden gem. It is true that the crypto market is reeling from deep losses, but many more forces are in play in the wider cryptoverse.
For example, there is enough activity in the non-fungible tokens (NFTs) territory. Madonna, who opted for services of artist Beeple, unveiled her NFTs in May. This was followed by Coco Gauff, a tennis star, releasing her NFTs on Autograph. New NFT projects like LimeWire are also creating a buzz. And now, eBay has announced the acquisition of an NFT marketplace, KnownOrigin.
Amid these new developments, and actor Keanu Reeves reportedly supporting NFT artists, the cryptoverse is rising in popularity day by day. Below are two NFT marketplace cryptocurrencies that make for a close watch after eBay’s KnownOrigin acquisition.
1. SuperRare (RARE)
This NFT marketplace was used by Madonna to release her NFT collection. SuperRare is a platform for artists to showcase digital art and mint tokens. The minted NFT can be listed, which an interested buyer can purchase. SuperRare also runs auctions of digital assets.
The native crypto token of SuperRare is RARE. The RARE token, as of writing, has a market cap of nearly US$18 million. RARE is not among the top 500 cryptocurrencies. The price per token is nearly US$0.17, and the RARE token is trading on Binance and other exchanges, according to CoinMarketCap.
Also read: What is the link between KnownOrigin, NFT marketplace and eBay?
2. Rarible (RARI)
Rarible provides services comparable to SuperRare. It is projecting itself as a “community-centric” platform for NFTs, with a marketplace where these assets can be created, sold and purchased.
RARI is the native token, which Rarible claims makes it a decentralised platform. Token holders can participate in the governance by way of voting. RARI also has a market cap of nearly US$18 million. It ranks close to SuperRare in the list compiled by price tracking website CoinMarketCap. The RARI token is trading at over US$2 as of writing.
The RARI crypto is trading on Crypto.com, MEXC and other exchanges, CoinMarketCap suggests.
Also read: NFT Corner: Coach’s NFT drop; Keanu Reeves to help NFT artists
Bottom line
Both the above two cryptocurrencies are linked to NFT marketplaces. The KnownOrigin marketplace was recently purchased by e-commerce giant eBay. This event might help SuperRare and Rarible to gain attention. Both have linked crypto tokens, which are trading in the green, as of writing. It is also pertinent to note that KnownOrigin does not have a native cryptocurrency yet.
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