Author: Avax NFTs

Non-Fungible Tokens (NFTs) have grabbed the attention and wallets of consumers and businesses since the early days of CryptoKitties. The great NFT hype is believed to have truly started after the sale of the digital artwork by Beeple that sold for over $69M on Christie’s Auction House. The rising importance of the NFT space cannot be ignored, neither can the risks or the possibilities that the space will bring for a world that has gone digital, especially after the pandemic. In this article, you will learn about the budding NFT market, its working structure, risks and hazards connected with the…

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Launched by Ava Labs in 2020, Avalanche has emerged as a serious competitor to Ethereum along with other recently developed smart contract blockchain platforms. It focuses on low transaction costs, high transaction speeds and has an eco-friendly approach. It has exceeded in areas where other blockchains have traditionally faced severe limitations when scaling, taking the market by surprise with its exciting possibilities, especially the NFT community. Validators and consensus in Avalanche Subnets on the Avalanche platform can use the AVM (Avalanche Virtual Machine) to come to an agreement by utilising blockchain databases regularly used in crypto projects like Ethereum. However,…

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Wallet Avalanche NFT Avax NFTs Project AvaxNFTs.com

Avalanche is different from other blockchain networks as it has three separate chains: X-Chain, C-Chain, and P-Chain. Each of these chains has separate roles and stores tokens separately. Therefore, you need to understand them to avoid sending the wrong coin to a given chain. X-Chain (Exchange chain) deals with Avalanche virtual machines such as DEXes for creating and exchanging assets. The transactions in X-chain are in AVAX. P-Chain (Platform chain) helps in coordinating validators and tracking active subnets. Most probably, you may not use P-Chain unless you delegate, but you need to understand its role. C-Chain (Contract Chain) is typical…

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Grimes announced the sale of her NFT, Nyan Cat (Flying Cat) for a whopping $6 million on March 21. Barely two weeks later, Christie’s cashed in $69 million to sell Beeple aka Mike Winkelmann’s The First=5000 Days’ Before we could wrap our minds around these deals, Twitter founder, Jack Dorsey, put up an autograph of his first tweet for sale. The tweet sold for $2.9 million on March 23, 2021. Even now, several months since these deals have happened, and we are still seeing headlines of people paying massive amounts of money for things like clip arts of rocks, punks, seals,…

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Avalanche is rising in popularity, and the total value locked in the entire ecosystem is soaring. Having a Metamask account is more important than ever before. The Avalanche network brings significant value to the world of decentralised networks (speed, affordability, and ease of utility), this increasingly makes the network attractive to project developers, investors, and traders. Avalanche’s consensus mechanism can process up to 4500 transactions per second with sub second finality whilst maintaining a high degree of security. That is an amazing fact, considering the scalability problem that most blockchains networks are facing. Incentive programs launched by Avalanche, such as…

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Cross-chain interoperability is one of the many limitations of blockchain platforms. We show you how easy Bridging ETH to AVAX can be. Most of the existing blockchain platforms operate exclusively within their networks. Independent blockchains cannot communicate with each other, exchange or retrieve information from other blockchain networks. If you own some BTC on the Bitcoin blockchain, you cannot use your funds to participate in a project on Ethereum since the two networks are incompatible. The only way to do this would be to sell your BTC and use the funds to buy some Ethereum tokens. However, this is usually…

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