There is but one massive problem in the cryptocurrency, Nft's and Blockchain space and that is authenticity, credibility and verification for new comers and veteran investors alike. The problem stems not from the fact that they are over 10000 cryptocurrencies and over millions of NFT's that could have been minted both enchain and gasless (Minted without paying a validator) but because the ease of creating a cryptocurrency or an nft in 2024 has flooded the market with scams and crypto spin offs and fake nft's or copies with variations that cannot be spotted easily. This creates another problem, by the time Bitcoin and other cryptocurrencies go mainstream they could be millions of cryptocurrencies and billions of NFT's and it might be too late before millions of people are duped into investing into "Fugazi", Italian for fakes.
Think about it this way, if one was a art connoisseur one would go to the most reputable art dealer to buy art. This is solely because an art investor would want to invest in an authentic painting by say Picaso. The art dealer is an expert appraiser with a reputation to maintain hence he or she will make sure the investor receives an authentic Picaso or face legal challenges. In the same way NFT's have garnered much attention in the crypto space with NFT's being sold on the blockchain for millions of dollars. But this has been mostly limited to a small audience of tech savy investors that are knowledgeable in the space. What about the billions of people that still do not know exactly what Bitcoin is let alone any other cryptocurrency or nft.
The Future of NFT marketplaces and Exchange offering
Much like an online marketplace, IN THE FUTURE there will be entire markets dedicated to nft investments. Believe it or not fine art, music rare photographs and videos are going to be minted as nfts and traded on a global scale without being limited to single website. For example opensea.org is a dedicated marketplace nft's and Amazon is a go to place for buying and selling products from every category imaginable. What if i tell you in the future it will be possible to buy an NFT or a fraction of an NFT from both opensea or Amazon as both offer a simple service to store the data on chain or on server. A buzz word that had became extremely popular in the 2020 was "interoperability" which means cryptocurrencies can work over various markets without creating a hassle for customers to find what they want to purchase.
This is where analytics comes into place, and Bitscrunch is truly at the forefront of web3 analytics and NFT data authentication. The cutting edge Ai tool lets any appraiser make a search and find out whether a cryptocurrency or NFT is authentic or not. I.e was it originally created by the same artist or is it an imitation or variation spinoff created by another person. Believe it or not thousands of popular NFT's have dozens of fake and spinoffs that sometimes get sold to an unsuspecting buyer.
What does Bitscrunch do and what is core utility of $Bcut their backbone cryptocurrency?
Bitscrunch has been successful with its seed launch and successfully sold-out $750,000 of seed sale in 2021, with backing from notable companies like Covalent, GenBlock, MEXC, Ledger Prime, and Double Peak. Backed by some big pre-seed investors such as Coinbase Ventures and ChainLink. Their main product, UnleashNFTs, is a data platform that enhances NFT analytics. Their forgery detection feature prevents copyright infringement, letting the creators of the Nft and marketplaces know if an NFT was compromised, Bitscrunch AI acts much like a marketplace watchdog letting the parties involved know of potential breaches.
The platform also has a native governance token, BCUT. This native token is used in a variety of ways, one of it being a governance tool - holders can vote on proposals and network changes, actively participating in the ecosystem's governance. The token will also be used to encourage contributors and stakeholders, ensuring long term commitment to the platform's growth and security. The platform proof-of-stake, also requires validators to stake tokens for network protection.
With not much competition against them, Bitscrunch is bound to succeed in their niche. I believe with enough engagement and development of blockchain based assets whether is Gaming, NFT's , music or just cryptocurrencies Bitscrunch will become essential to large marketplaces, exchanges, corporations, governments, creators, investors and enthusiast.
Bitscrunch $Bcut price prediction 2024-2025
Bitscrunch has been in the market since February of 2024, and coincidentally right in time for the next big Altcoin Bull market. At a price of $0.03130 is still in price discovery and could go lower from here, however if Bitcoin increased in value from here, $BCUT will gain traction and could become a +$1 billion market cap coin as it sits on a circulating supply of 221,377,708 with a max supply of 1,000,000,000.
Note: This is an early analysis of a an early stage cryptocurrency, this not financial advice, all predictions are for your personal appraisal, please invest at your own risk and read the exchanges risk disclosure.
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