ETH
by BSCN
March 10, 2023
Projects based on trading or lending Ethereum NFTs are soaring in TVL over the past month.
Non-Fungible Tokens (NFTs) have advanced far from being pixelated JPEGs for crypto degens to flex as Profile Pictures (PFPs) on social media. Now, users expect (or would like to see) added-value benefits from holding or trading popular NFTs.
The NFTFi trend is apparent in the Ethereum ecosystem, where three of the top five fastest-growing protocols by Total Value Locked (TVL) involve NFTs.
According to DefiLlama rankings, the five Ethereum protocols by TVL growth in the past month (filtered by total TVL of more than $10 million) are: Arcade xyz, Llama Airforce, Blur, ParaSpace and Beefy.
Of those, Arcade xyz, Blur and ParaSpace provide NFT lending or trading. Let’s take a look at the top 5 fastest-growing protocols on Ethereum:
Ethereum is an open-source, distributed computing platform based on blockchain technology that can execute smart contracts - that is, the terms written in the contract will be executed transparently, automatically when the previous conditions are satisfied, and no one can interfere. At the same time, Ethereum also allows developers to build decentralized applications (dApps) and decentralized autonomous organizations (DAO).
Find more about Ethereum here:
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