Can Dogetti Transform the NFT Market Like ApeCoin and Ethereum?

The NFT market became mainstream due to the inception of the Bored Ape Yacht Club (BAYC) NFT collection by Yuga Labs. The NFTs featured 10,000 Bored Ape characters, each with unique characteristics. Since the inception of this NFT collection, hundreds of cryptocurrencies have tried their hand at releasing collections of their own.

Some cryptocurrencies have become home to multiple NFT collections, with Ethereum (ETH) hosting most of the collections in the top 100 projects. ApeCoin (APE) has undoubtedly transformed the NFT market after being created by the Ape Foundation in 2022 to facilitate any future NFT collections by Yuga Labs. Another figure in the NFT market is Dogetti (DETI). The new meme coin has adopted an innovative feature for its NFT collection that will be explored below.

Dogetti – Putting The User First

Dogetti hosts an expansive ecosystem, allowing users to get the most out of their crypto experience. The platform will host an NFT collection that will allow holders to breed and grow new NFTs to sell for fiat currency or hold as a digital companion!

Another exciting feature of the Dogetti ecosystem is its Decentralised Exchange (DEX), DogettiSwap. Users of the Dogetti platform can swap any ERC20 token for another on the exchange, making it user-friendly and intuitive for early traders. The exchange is powered by Uniswap (UNI), ensuring high liquidity and fast and secure transactions.

While most cryptocurrencies ignore the needs of their users, Dogetti has implemented a DAO to ensure this is never the case. The Dogetti users can vote on proposals and write them, improving the ecosystem and ensuring a decentralized and community-driven decision-making process.

ApeCoin’s Involvement In The NFT Market

As mentioned above, ApeCoin was created by the Ape Foundation. The ApeCoin platform also hosts a DAO, allowing users to express their concerns about the direction the platform is going. Those who hold APE tokens can vote on the proposals for the platform’s future.

ApeCoin also has real-world utility! By the end of 2022, the platform was listed as a valid currency by more than ten mainstream companies, allowing ApeCoin users to pay for goods and services in the real world.

Although ApeCoin isn’t performing at the same level as the heights it saw at the start of its crypto journey, it shows the platform is capable of providing explosive returns. ApeCoin reportedly brought 3,800% gains to short-term investors and 1,000% returns to long-term investors.

Ethereum’s Heightened Performance In The NFT Market

As mentioned above, Ethereum is host to most of the NFT collections in the top 100 by trade sales volume. Because of this, Ethereum recently switched its consensus, allowing the platform to achieve a heightened performance for easier NFT transactions.

Ethereum switched to a Proof-of-Stake (PoS) consensus, allowing the platform to process up to 100,000 transactions per second at its highest performance. Additionally, the platform has reduced its carbon footprint by 99.95%, allowing Ethereum users to access a platform with higher performance and a smaller impact on the environment.

The smart contract platform has seen competition from several blockchains throughout its history, appropriately named ‘Ethereum Killers.’ However, the Ethereum blockchain has remained at the top of the crypto market, with the platform boasting an impressive $184.9 billion market capitalization at the time of writing.

Final Thoughts

Ethereum and ApeCoin have undoubtedly transformed the NFT market, creating platforms that facilitate growth for the NFT ecosystem. Dogetti looks to follow in the footsteps of these two crypto giants, introducing innovative features for its NFT collection by allowing users to breed their digital companions and create new ones. Watch the crypto space for the launch of this new meme coin!