Flow (FLOW)

The exchange rate of one FLOW at 15:45 UTC is 0.883$

Chart | Average rate

The cryptocurrency industry is constantly evolving, offering users the latest high-tech systems that can be effectively used in everyday life. One of the latest innovations in this area is the development of NFT tokens, which are non-fungible unique cryptocoins that cannot be converted into other assets. Now these tools are most often used by people of creative professions (musicians, artists, and so on), who can sell their works and copyrights not only at special auctions, but also on NFT markets.

In addition, with the advent of NFT technology, many specialized applications have appeared that allow you to sell, buy and exchange collectible tokens. Initially, the discussed type of cryptocoin worked on the Ethereum blockchain, but due to problems with scalability and the high cost of transactions, developers were forced to create a separate cryptonetwork for NFT, the first of which was the “Flow” platform in question from “Dapper Labs”.

“Flow” is a large-scale cryptosystem built to run decentralized applications, including crypto gaming applications and NFT marketplaces with fast and low-cost transactions. This project already has a large active developer community, including “Playground”, “Flow Alpha” and “Open World Builders”. In the meantime, the Flow infrastructure is built on traditional smart contracts in order to make software tools available to ordinary users, which will allow attracting even more participants to the platform in the future.

Before the launch of the main blockchain, the Dapper Labs corporation received a large investment of about $25 million through the operation of convertible bonds from several large companies such as Venrock, Samsung NEXT, WindrCo, Digital Currency Group and other organizations.

The Flow project uses the eponymous cryptocurrency in its ecosystem, which is used for any operations and settlements in this network, which developers can easily implement in their applications to be able to accept payment for their services and reward other participants. In addition, large holders of FLOW coins can receive additional tokens as a security deposit, which also ensures a high level of blockchain security, as they act as validators or masternodes. However, for inexperienced investors, it is possible to transfer their funds to professional operators who will run validators on their behalf in order to be able to receive staking rewards.

As an example of the use of the concept of Flow, we can consider several successful ongoing projects that reveal the full potential of this system. “NBA Top Shot” is a marketplace to trade unique short videos of the best moments from NBA games, presented in the form of NFT tokens. This project was launched in 2020 and has already managed to raise more than $12 dollars from various investors, most of whom are famous and richest NBA players themselves.

In the meantime, one of the most successful systems based on Flow is “VIV3”, a digital art marketplace where you can buy, sell, and explore the work of artists from around the world. A unique feature of VIV3 is that the process of adding author's works to the catalog is free of charge, while the seller receives a fixed percentage of the sale of 87.5%.

As a result, it can be noted that Flow currently has the greatest development prospects of all existing NFT platforms due to cooperation with many large organizations, and this has already allowed the native currency to enter the TOP-100 according to the CoinMarketCap rating with a market capitalization of more than $1 billion.