As you all know by now, CUDOS has launched its own NFT marketplace where you can buy hashrate NFTs. If you still don’t know what CUDOS markets are or what a hashrate NFT is, then you should read this article: An Overview of CUDOS Markets: The World’s First NFT Marketplace for Hashrate Collectibles In this article, I will give my personal reasons why I bought one of the hashrate NFTs from CUDOS Marketplace.
Bringing utility to NFTs
In reality, I hadn’t purchased any NFTs before this because I didn’t believe they could be beneficial. I used to think of NFTs as hype, but the CUDOS markets changed my mind as they introduced tokenized infrastructure using NFTs, where they are tokenizing Bitcoin mining farms and making those tokenized NFTs available to everyone. With this move, the CUDOS market is giving these NFTs utility. A person who owns one of these NFTs is undoubtedly purchasing real-world infrastructure, which will improve the NFT’s importance. NFTs represent real-world assets, and in the future, it is possible that they can be used as collateral in DeFi lending protocols, which can expand the use case for NFTs beyond just digital art.
Green Bitcoin Initiative
Bitcoin mining farms that are offering tokenized NFTs on CUDOS markets are green mining farms. This has been cleared by CUDOS markets: being a green mining farm is the key to becoming a NFTs seller on CUDOS markets. The push for green mining farms aligns with the growing trend of environmentally conscious investments and attracts a new wave of investors who prioritise sustainable growth. By only allowing green mining farms to mint NFTs, CUDOS Markets is also contributing to the overall sustainability of the Bitcoin network, as in the future more and more mining farms can adopt renewable energy sources.
A Bitcoin Miner Tag and Passive Income
As an NFT buyer, your NFTs will represent real mining farm infrastructure, which means I can call myself a bitcoin miner as my NFTs represent the hashrate required to mine bitcoin. As Bitcoin mining becomes more competitive and requires increasing amounts of computing power, owning a hashrate NFT can potentially become more valuable in the future. With that being said, my NFTs are generating passive income for me in the form of bitcoin, which is one of the biggest reasons why I bought one of these NFTs. You can also see this as a form of staking, where investors are incentivized to hold onto their NFTs and contribute to the security of the Bitcoin network, and they are rewarded in Bitcoin.
Bringing utility to the CUDOS ecosystem
As a big CUDOS holder and believer in the overall CUDOS ecosystem, I will support everything that will bring utility to the CUDOS token, and talking about CUDOS markets, I believe they are bringing a huge amount of utility to CUDOS, as many are already buying Hashrate NFTs. The launch of the NFT marketplace is attracting new users to the CUDOS ecosystem, and this also showcases the versatility of the CUDOS token beyond just being a utility token for the CUDOS Network. As the community grows, the value of projects automatically goes up, which will ultimately benefit my CUDOS holdings.
In conclusion, the CUDOS NFT marketplace presents a new era of utility for NFTs. By tokenizing infrastructure such as green Bitcoin mining farms, NFTs can now represent real-world assets and generate passive income for holders. This move towards sustainability in the crypto space is an example for other projects to bring sustainability into the crypto world. As a supporter of the CUDOS ecosystem, the potential growth of the marketplace will benefit both NFT buyers and CUDOS token holders. Overall, the CUDOS NFT marketplace is attracting new users, showcasing the versatility of the CUDOS blockchain, and paving the way for further innovation in the NFT space.