NFTs have become one of the most well-performing sectors in the larger cryptocurrency market. Recently, the NFT sector crossed a record trading volume of $10.7 billion which is a testament to its growth. while a lot of projects exist in the segment, issues still persist. Origin Protocol brings something more to the table. It is designed specifically for non-fungible tokens and solves some of the major problems that users face while using the NFT market. Let’s delve more into Origin Protocol is all about!
What is Origin Protocol?
Origin Protocol is designed to be the next generation of decentralized finance ecosystems. The platform facilitates the creation of decentralized peer-to-peer marketplaces for cryptocurrencies – more specifically, non-fungible tokens.
Some of the issues rampant in the NFT segment are accessibility, technical requirements and centralization. These problems pose as the NFT trilemma which requires a compromise on one or more than one aspect. However, Origin Protocol has been designed keeping all of these problems in mind. Hence, the platform makes NFTs accessible to everyone and decreases the technical requirements for the technology. Moreover, users also do not have to worry about centralizations as Origin Protocol is completely decentralized.
Utilizing Origin Protocol, anyone can easily create, issue and sell their NFT. It also has a good reward mechanism in place providing returns on staking or lending. Moreover, it offers users the full suite of NFT editions all with minimal fees.
Future outlook
The development team of Original Protocol is one reason why the project has been successful. The team likes to stay in touch with the community to ensure they are aware of the problems at the grassroot level. The team holds a weekly webinar where it discusses all new developments going on in the market.
The NFT is one of the fastest growing segments of the cryptocurrency market. The growth of the sector is undoubtedly going to pull up projects like Origin Protocol. This gives Origin Protocol a bullish future outlook. At the time of writing, OGN token stands at a price level of $0.90. The price has been trending upwards in the daily timeframe.
According to the estimates of Wallet Investor, the cryptocurrency is expected to reach a price level of $1.55 in a year’s time while the five-year price projection places it at $4.38. Digital Coin Price predicts Origin Protocol will end the year with $1.38. The price is expected to sustain its upward trend and reach $3.15 by 2026.
