A Dive Into Parody Coin (PARO) – Why This NFT Project Could Be Revolutionary.

For many, cryptocurrencies and Web 3 provide the opportunity to create a more equitable and autonomous platform to appropriate its assets as NFT is a major player in the ecosystem. While growing pains are common for any growing industry, the gas costs associated with ETH for trading and minting NFTs sometimes become so high that there is inefficiencies in the market. This creates a barrier to entry for your low- and medium-cost products.

While this isn’t a problem for your high-end NFTs like BAYC’s that we’ve seen sold for millions, it’s a meritocracy issue as the average trader wouldn’t be able to justify a $50 gas fee for a purchase. with a resale value of $300. As such, the system created to alleviate high barriers to entry and institutional monopolies inherited a similar problem from the massive demand we see.

Therefore, while we shouldn’t criticize the Ethereum blockchain too harshly as it really laid the foundation for future success on Web 3 and the Metaverse, we should welcome competition and alternatives that enhance meritocracy and help NFTs reach their true potential.

Useful in parody.

A start-up project that has been getting a lot of attention lately is parody coin (PARO). Parody Coin seeks to solve the problem of meritocracy in the ecosystem by developing a platform that allows users to create and trade parody versions of popular NFTs. While the NFT would not be unique in most cases, the usefulness of functional NFTs allows users to derive value in the same way as the original NFT.

In addition, if the owner of an original NFT bought a parody, they can burn the original to turn the parody into the original. At first glance it may seem outdated, but what it would do is allow users to enjoy low gas rates on the corner parody market and a more competitive market would emerge.

The potential for this position is very, very exciting and is potentially the most exciting part of PARO. It embodies all the philosophies why so many people are part of the ecosystem and alleviates the problem we see in many high gas royalty markets.

ParoRewards and Tokenomics

To complete the usefulness of the protocol, Parody also has a: strong tokenomics and offers users the chance to earn rewards by wagering their own coin, Parody Coin. There is a ParoReward system to just hold the token. Staking is one of the best ways to support the network and get rewarded for doing so, but it takes a minimum lock period of 2 weeks to be eligible for the rewards. This is actually quite reasonable for first stage coins where usually a much longer lock-in period is required and may make some users nervous but with a minimum of 2 weeks this won’t be a problem.

In addition, Parody Coin is a deflationary asset, meaning that the coin will appreciate in value over time as inflation-fighting measures exist through a combination of burning and redistribution to those who have the token.

Their IoT launch is scheduled for the summer of 2022 on pancake change according to their white paper, with 70% of the total offerings expected to be made public and 15% set aside for community rewards and the incentive program to help those who decide to invest early in the protocol.

A convincing project

Since their presale is one of the most successful presale of new NFT related projects in recent times, many are already saying that Parody will be a serious contender in the market and it’s easy to see why. In short, it is a protocol that seeks to solve a serious problem in an ever-expanding market and encompasses a philosophy that a community can easily support given its emphasis on meritocracy and fairness. With strong tokenomics to boot, Parody could be an NFT-based project that you should consider adding to your portfolio and at least diving deeper for exploration.

For us, Parody is a truly immersive project.

Below all information about the project:

Presale: https://presale.parodycoin.io/register

Website: https://parodycoin.io/

Telegram: https://t.me/PARODYCOIN_OFFICIAL

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