Cryptocurrency markets are seeing bearish momentum these days, with NEAR at the time of writing trading at $9.41, up over 36% last week. What is NEAR and why is the price rising? cryptocoin.com We are looking for answers around the concepts of metaverse and Web 3.0.
Consequences of exploring Web 3.0 and the metaverse
NEAR describes itself as a collective, a foundation and a development platform built on a new layer of blockchain. According to its official website: “The NEAR Foundation is a unique type of organization. It helped launch both a technological platform (NEAR Protocol) and the ecosystem around it.” NEAR’s vision is to provide a self-sufficient ecosystem for developers, creators, entrepreneurs and community members. NEAR already has dozens of projects on the platform. For pre-loading developers and creators who want to log in with organizations, NFTs, Metaverse and Web3 in NEAR.
The past week has been flooded with NEAR Protocol announcements. On December 9, NAKSH, a new Indian NFT platform, was launched on NEAR. NAKSH is an NFT market powered by talented artists who want to create a community that will restore the Indian traditional art market. On the other hand, after NEAR’s $800 million global ecosystem finance initiative launched in October, many social DAO projects are building on NEAR. There is no doubt that exploring the Metaverse and Web3 sectors is the right decision for NEAR. The Metaverse and GameFi trends are expected to continue into next year, and all projects currently exploring and developing blockchain-based VR and gaming platforms can expect to continue to see bullish momentum. As the NEAR ecosystem continues to expand, we can expect its market value to increase. The current $5.4 billion valuation is pretty big, but compared to similar platforms like Polkadot, Solana, and Polygon, NEAR still has a lot of room for growth.
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