Markets are ripping, new token standards are dropping, and everybody is scrambling to work out what cryptos to buy now. The bull market is back. New trends mean new money, and one particularly interesting addition to market dynamics is the new ERC-404 token standard.
Why ERC404’s like Pandora ($PANDORA) will explode this cycle and how new mememcoins like Galaxy Fox ($GFOX) are primed to be the fastest gainers in 2024. Is $GFOX a game-changer, and can it see 100 returns before the year closes?
Introducing Pandora ($PANDORA) and the ERC-404 Token Standard
Pandora ($PANDORA) caught everyone’s attention, rallying more than 12,000% in a single week. But what is this new token standard, and why is everyone so excited? ERC-404 takes elements from the typical token standard (ERC-20) and the classic NFT standard (ERC-721) to create a new type of asset.
This new highly liquid token standard delivers built-in liquidity mechanisms, allowing users to either hold the ERC-404 as an NFT or sell the token, which automatically burns the corresponding NFT. Interestingly, the tokens and NFTs can be traded independently, and liquidity has always been a critical issue for NFT collections.
Could this new standard introduce stable floor prices? The launch of this new token standard comes at an excellent time and allows for way more exciting liquidity options (collateralization) and trading experiences. Is Pandora among the top 10 cryptos to buy now? Analysts advise caution following the $60 million plunge but remain incredibly optimistic about the potential of this new token standard in the bull market. In the past 24 hours, the token price already shot up another 50%.
Galaxy Fox ($GFOX) Hybrid Model Changing the Game
Galaxy Fox is another hybrid and one of the top listed projects for what cryptos to buy now. This presale gem takes the classic financial incentive mechanism and reward loop from the play-to-earn sector and wraps it up in a memecoin exterior. Galaxy Fox’s Web3 infinite runner game is an open invitation for players from around the world to compete. Those skilled enough to end the season in the top 20% of the leaderboard earn prizes.
The memeable aesthetic, viral branding strategy, and quasi-unlimited upside are all taken from the memecoin genre, and blending upside with entertainment and earning has proven to be a hit with investors. Galaxy Fox has already raised over $3.3 million and now targets $5 million.
Early investors have enjoyed several lucrative price leaps, with the next jump coming at the start of Stage 9, where the price will shoot from $0.002178 to $0.002376. Galaxy Fox’s tiny market cap in these explosive conditions easily makes it a top crypto to invest in, and the introduction of staking rewards seals the deal.
Set to launch later this year with the runner game acting as an onboarding funnel, the Treasury driving ecosystem expansion, stakers earning rewards correlated to ecosystem activity, and a net deflationary supply thanks to its burn. $GFOX is undoubtedly one of the projects investors should be watching.
Closing Thoughts: Bet Big on 404s and Memecoins This Cycle
The new ERC-404 token standard is a game-changer for NFT liquidity and the ability of dual-sided speculation. Investors can purchase either the token or the NFT and freely switch between both. This is a huge step forward, and expect 404s to attract attention worthy of this breakthrough.
Galaxy Fox is another pioneer, blending the GameFi and memecoin narrative into a single token. Expect this to fly post-launch, and it could easily 100X within the next several months. When considering what cryptos to buy now, adding $GFOX to your portfolio is a no-brainer.
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