The bear market rolls on, with the likes of Enjin (ENJ) and Polkadot (DOT) finding it difficult to stay afloat. Despite the downturn, one project has gone against the grain, with investors turning their attention to Collateral Network (COLT) which is estimated 3500% returns. Let’s take a closer look.
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Collateral Network (COLT)
Miss Smith is looking to buy a car, but she only has a valuable piece of art that is worth $10,000. Fortunately, she can use a service called Collateral Network (COLT) to turn her artwork into a digital token called a non-fungible token (NFT).
By using this NFT as collateral, she can borrow the money she needs to purchase her desired car. It’s a simple process that allows her to use the value of her art to obtain the funds she needs, and Collateral Network (COLT) is helping to make it possible.
On the lender’s side of things, Collateral Network (COLT) provides them with an easy-to-use platform to lend out their funds. Plus, as the NFTs are fractionalized, lenders don’t have to fund the whole loan amount by themselves.
Another unique aspect of Collateral Network (COLT) is the COLT token that facilitates transactions on the Collateral Network (COLT) platform. By using COLT, users can lock in discounted interest rates and access lower fees for trading on the Collateral Network (COLT) marketplace.
It’s no wonder that investors are flocking to Collateral Network (COLT), with a real-world use case that could transform the way people borrow and lend money. The presale for Collateral Network (COLT) is about to start, and with discounted tokens offered to the first participants for $0.01, acting quickly is a must.
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Enjin (ENJ)
Enjin (ENJ) is an innovative blockchain-based platform designed to revolutionize gaming and development. No matter your skill level, Enjin (ENJ) makes designing blockchain games and NFT projects an achievable reality.
The Enjin (ENJ) ecosystem continues to develop, providing access to a suite of powerful tools such as EnjinX, the world’s first blockchain explorer, and the Enjin (ENJ) Wallet. Plus, developers can take advantage of the Unified SDK for integrating blockchain technology into their games.
Despite all these features, the crypto community has been hesitant to jump on board Enjin (ENJ) due to the bear market conditions. Enjin (ENJ) is down by more than 94% since its all-time high in November 2021, making Enjin (ENJ) a risky proposition for many investors.
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Polkadot (DOT)
Polkadot (DOT) is a sharded multi-chain network that enables different blockchains to communicate with one another. Polkadot (DOT) allows developers to build dapps and tokens on the platform without worrying about scalability or security issues.
The DOT token serves as a gateway into the Polkadot (DOT) ecosystem, allowing users to access the Polkadot (DOT) network and take advantage of the features it offers. Polkadot (DOT) has seen success from a few notable partnerships, with the likes of T-Systems MMS and Chainlink recently using Polkadot (DOT) for their projects.
Similarly to Enjin (ENJ), Polkadot (DOT) has also been battered by the bear market, with its value down by more than 85% since its all-time high. But, with a strong community and a promising use case, Polkadot (DOT) could be set for a rebound as blockchain continues to mature.
Find out more about the Collateral Network presale here:
Website: https://www.collateralnetwork.io/
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
