- Collateral Network (COLT) attempts to change the game in P2P lending
- Polygon (MATIC) remains go-to EVM-compatible blockchain for dApps
- Decentraland (MANA) is yet again among leading GameFi products
- Enjin (ENJ) pioneers new use-cases for crypto
- Chainlink (LINK) dominates blockchain oracles segment
- Wrapping up
Utility tokens provide investors with a plethora of features they can use within their respective smart contract blockchains and dApps. And as the number of utility tokens increases, finding a suitable one with real potential can be pretty challenging.
Collateral Network (COLT) attempts to change the game in P2P lending
Collateral Network is the first Web3 peer-to-peer lending platform that allows users to borrow cryptocurrencies against physical assets on the blockchain. Unlike other existing platforms that only lend against digital assets, borrowers can use their real-world assets like cars or fine art to get the funds they need via Collateral Network.
Collateral Network is the first project to mint NFTs against tangible assets and use fractionalized lending to crowd-fund the loans. It will aim to solve many issues in the present lending industry, including credit accessibility, transparency, liquidity, and flexibility.
Collateral Network's borderless and permissionless platform enables anyone to borrow money, no matter where they are, as long as they send a physical asset to the platform as collateral.
Collateral Network's current price is $0.014.
Image by Collateral Network
Polygon (MATIC) remains go-to EVM-compatible blockchain for dApps
Polygon is a blockchain scaling platform and cryptocurrency that was founded in 2017. It is used to connect, build, and expand blockchain networks on Ethereum. Its native token is called MATIC.
The goal of the Polygon Network is to provide faster and more affordable transactions on the Ethereum network. To do so, it uses Layer 2 sidechains, which are blockchains that work with the Ethereum main chain simultaneously.
Decentraland (MANA) is yet again among leading GameFi products
Decentraland is the first virtual world owned by users. It enables them to create, explore, and trade digital assets on the Ethereum blockchain. Namely, users can buy and sell LAND, estates, avatar wearables, and names in the Decentraland marketplace.
To buy digital assets in Decentraland, investors first need to buy its native token, MANA. The MANA is an ERC-20 fungible token created via Ethereum smart contracts.
Enjin (ENJ) pioneers new use-cases for crypto
Enjin is a platform that enables users to create, store, trade, distribute, and integrate tokenized digital assets. Enjin is primarily focused on helping various sectors, including the gaming industry, art, and fashion, use blockchains and NFTs to evolve.
Namely, it supplies its users with easy tokenization solutions that have many applications. Enjin users can create anything on the platform, including NFTs, digital vouchers, or video game items. Some even use it to tokenize commercial real estate.
Chainlink (LINK) dominates blockchain oracles segment
Chainlink is a Web3 decentralized oracle network that enables blockchains to transfer data and securely interact with off-chain services and external systems. Namely, because smart contracts can automate data transfers via the platform, Chainlink has made the transaction of trillions of dollars easy and fast.
Various industries use it to obtain uninterrupted access to real-world data, including DeFi, insurance, NFTs, and gaming. Additionally, businesses worldwide use Chainlink as a universal gateway to all blockchains.
As the crypto world slowly spills over into other traditional and non-traditional sectors, utility tokens are rising in demand. This means there are plenty of utility tokens available on the market, making the final choice in which to invest quite difficult and tedious.
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