Parody Coin Eyes NFTs Opportunities As Blockchain And Monero Transform Payments – CryptoMode

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Cryp­tocur­ren­cies were on a roll last year, ral­ly­ing to record highs at the height of the cryp­to boom. Fast for­ward, the momen­tum has cooled off, going by deep cor­rec­tions from record highs with some coins implod­ing to zero amid an ongo­ing cryp­to crash. Cryp­tocur­ren­cies with unproven use cas­es or roadmaps for future growth have felt the brunt of a broad­er mar­ket cor­rec­tion. Par­o­dy Coin is a new coin that seeks to suc­ceed where many have failed by bet­ting big on non-fun­gi­ble tokens and the meta­verse world.

What is a Parody Coin?

It is a defla­tion­ary token built on top of the Binance Smart Chain that seeks to pro­vide oppor­tu­ni­ties for earn­ing while par­tic­i­pat­ing in its Paro­verse or meta­verse. It aims to rev­o­lu­tion­ize the cryp­tocur­ren­cy indus­try by offer­ing ways of mint­ing and trad­ing NFTs. It comes with Par­o­dy Swap, a fea­ture that lets users swap cryp­tocur­ren­cies with­in any blockchain for an equiv­a­lent amount of Par­o­dy coins.

It also fea­tures Par­o­dy Bridge designed to make it easy for peo­ple to trans­fer Par­o­dy Coins to oth­er blockchains. The push for oppor­tu­ni­ties and util­i­ty around NFTs is also affirmed by the devel­op­ment of the Par­o­dy NFT mar­ket­place that will allow Par­o­dy Coin hold­ers to devel­op Par­o­dy NFTs out of oth­er blue-chip NFTs.

Addi­tion­al­ly, Par­o­dy Coin comes with a decen­tral­ized appli­ca­tion store that lets third par­ties and devel­op­ers cre­ate and launch appli­ca­tions with­in the ecosystem.

Parody vs. Bitcoin vs. Monero

Bit­coin (BTC) is arguably the most promi­nent cryp­tocur­ren­cy by mar­ket cap, it has achieved investors bet­ting on its long-term prospects in the main­stream finan­cial sec­tor. Amid talk of cryp­to main­stream adop­tion, the Bit­coin blockchain remains well-posi­tioned to enable seam­less cross-bor­der transactions.

Bit­coin has already carved a niche by mak­ing it easy for peo­ple to send and receive mon­ey on the inter­net. In addi­tion, it has suc­ceed­ed in pro­vid­ing an alter­na­tive pay­ment sys­tem devoid of any third-par­ty con­trol, as is the case with cur­rent systems.

The pay­ments util­i­ty case is one fac­tor that has pro­pelled it up the charts allow­ing it to hold steady even as the broad­er mar­ket implodes. Par­o­dy Coin is also going the same route, bank­ing on sol­id use cas­es, enabling easy swap­ping of Alt­coin in any blockchain to safe­guard its future.

Mon­ero (XMR), on the oth­er hand, has carved a niche as a pri­va­cy-ori­ent­ed Alt­coin. While oper­at­ing the same way as Bit­coin, it has gone over­board to ensure every trans­ac­tion car­ried out on the blockchain remains anony­mous. All the trans­ac­tion details are hid­den, there­fore adding a lay­er of privacy.

Mon­ero blockchain hides trans­ac­tion details such as senders and recip­i­ents’ IDs and the amount by dis­guis­ing the address­es. Pri­va­cy is one fac­tor that has affirmed Mon­ero‘s long-term prospects.

Parody Coin Tokenomics

PARO is the defla­tion­ary BEP20 util­i­ty token that pow­ers the Par­o­dy Coin net­work. As a medi­um of exchange for set­tling trans­ac­tions on the net­work, the coin will allow users to mint and sell par­o­dies of pop­u­lar NFTs on the Par­o­dy NFT marketplace.

The total num­ber of PARO tokens that will ever be in cir­cu­la­tion is capped at 240 bil­lion. The tokens are cur­rent­ly on offer as part of an ongo­ing pre-sale, after which the token will be avail­able in most cryp­tocur­ren­cy exchanges.

Parody Coin Prospects

Cur­rent­ly, most NFT projects oper­ate on top of the Ethereum blockchain, mak­ing the process of mint­ing and trad­ing NFTs expen­sive and slow. For exam­ple, the aver­age per­son would spend between $100 and $500 to mint an NFT on most mar­ket­places pow­ered by the Ethereum blockchain.

Par­o­dy Coin is look­ing to change all this while run­ning on top of the Binance Smart Chain, enabling a fast and cheap way of mint­ing and trad­ing NFTs. How­ev­er, the project’s long-term prospects are not depen­dent on NFTs. Instead, it should explore new oppor­tu­ni­ties around decen­tral­ized appli­ca­tion devel­op­ment and make it easy for peo­ple to swap cryp­to on var­i­ous blockchains.

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

 Web­site: https://parodycoin.io/

 Telegram: https://t.me/PARODYCOIN_OFFICIAL


Always con­duct prop­er research when deal­ing with pre-sales of cur­ren­cies and tokens. The infor­ma­tion above does not con­sti­tute invest­ment advice by Cryp­to­Mode or its team, nor does it reflect the views of the web­site or its staff.

Cryp­to­Mode pro­duces high qual­i­ty con­tent for cryp­tocur­ren­cy com­pa­nies. We have pro­vid­ed brand expo­sure for dozens of com­pa­nies to date, and you can be one of them. All of our clients appre­ci­ate our value/pricing ratio.
Con­tact us if you have any ques­tions: [email pro­tect­ed]
None of the infor­ma­tion on this web­site is invest­ment or finan­cial advice. Cryp­to­Mode is not respon­si­ble for any finan­cial loss­es sus­tained by act­ing on infor­ma­tion pro­vid­ed on this web­site by its authors or clients. No reviews should be tak­en at face val­ue, always con­duct your research before mak­ing finan­cial commitments. 

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