Top 5 NFT, DeFi & Crypto IDOs in Q1 202

The number of cryptocurrencies jumped from a mere 66 in 2013 to a whopping 10,397 in February 2022. Most of the crypto projects did ICO till 2017, but ICOs were later replaced by other funding methods like IEO, IDO, and more. So, what was the reason behind the drop in the number of ICOs after 2017? After all, it was the year when ICOs truly exploded, with the number of cryptocurrencies breaching four-digit for the first time. Well, many of these projects turned out to be a sort of fortnight wonders, as they failed to materialize into anything meaningful. With this, ICOs started gaining bad reps, and this form of funding stopped gaining traction. 

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Then came IEOs, which refers to initial exchange offerings, where crypto projects sold their tokens first on a crypto exchange. But it didn’t turn out to be as successful, as crypto exchanges had a very stringent process when it comes to the crypto projects they accept for IEOs. 

To solve this issue, came IDOs, where crypto projects conducted a sale for their tokens on a decentralized exchange like Uniswap, PanCakeSwap, SushiSwap, among others, as the entry barriers for new crypto projects are almost none. It also makes commercial sense, as the volume on decentralized exchanges (DEXes) soon started rivalling that of the centralized exchanges, with the DEX trading volume touching a record high of one trillion dollars in 2021. 

With almost every new crypto project opting for an IDO, it becomes a bit difficult to single out the most promising crypto projects. Therefore, we have come up with this article, where we will cover the top five Top 5 NFT, DeFi& Crypto IDOs in Q1 2022. So, let’s drive into it.

Cloudname: Supercharging the Domain Trading Space 

With the NFT technology disrupting a variety of industries, such as real estate, music, gaming, luxury goods, and many more, it’s about time that it brought a change to the domain trading space. Cloudname is bringing the magic of NFTs to domain traders, enabling them to benefit from it. 

With features like tokenization, renting, live market tracking, Cloudname is bringing its A-game to the world of domain trading. Thanks to its tokenization feature, domain sellers would now be able to tokenize high-value domains into ERC-20 tokens and sell them quite easily. It would also enable domain buyers to own a part of high-potential domains, which wouldn’t have been possible without fractionalization.  

Cloudname also offers domain renting options to users who want to get high-value domains for their business website, but their price tag makes it unaffordable for them. Besides these features, its users can manage their portfolio from one place thanks to Cloudname’sportfolio feature. Also, it will keep the users abreast with the market up & down in terms of their domain prices and share future projections regarding it. Sounds amazing, right? Go ahead and check out their planned IDO, which they are launching on PolkaBridge. The Cloudname IDO date for PolkaBridge is February 20, 2022, whereas Cloudname’s IDO on PancakeSwap is February 22, 2022. 

SolanaPrime – Making Funding Accessible for Solana-powered Crypto Projects 

The interest in Solana-based projects is at an all-time high, as it is one of the most prominent names among the blockchain platforms today. The reason is clear! With transaction speed up to 65,000 transactions per second, and that, too, at a fraction of cost, which averages to $0.00025, Solana is the fastest blockchain platform in existence today. 

SolanaPrime is one of the most promising Solana-based crypto projects that will host an IDO in Q1 2022. It aims to make raising funding for Solana-powered projects easier, especially in the NFT, DeFi, and gaming sectors. With seed funding from the likes of ZBS Capital, Llama Ventures, Sheesha Finance, and more, SolanaPrime is now ready to launch its PRIME token on its decentralized launchpad. Any users that buy PRIME tokens of SolanaPrime will also receive XPRIME, the reward token of SolanaPrime.  

SharkRace: A Combination of P2E Metaverse 3D Game & Rarity Upgrade-enabled NFTs 

SharkRace combines the features of a Play2Earn game with the magic of NFTs and is the first of a kind project bringing the rarity upgrade feature to the NFTs. Their NFT collection consists of 20,001 NFT sharks created by high-caliber artists, who have won awards such as the prestigious Cannes Lions award. 

Anyone who owns these NFTs will also get access to SharkRace’s rarity upgrade platform, using which they upgrade their NFTs. All that NFT owners need here are the upgrade items, which they can buy from the rarity platform itself. Besides, owning a SharkRace NFT makes you a part of their exclusive club, offering you access to a long list of features, such as voting rights, lifelong royalties, and a lot more.

The SharkRace NFT owners will also be able to access an Unreal Engine 4 powered 3D play2earn game. If this sounds like your kind of project, you would also love to know that SharkRace will be launching an IDO for its SharkCoins tokens (SHRK) in March.     

Harmony Launcher: IDO + IGO Launchpad for Harmony Network-powered Projects 

A combination of a launchpad and AMM decentralized exchange, Harmony Launcher is aiming to become the go-to platform for Harmony Network-based projects for funding. It has five core missions, which involves developing a foundational framework for Harmony-based projects to thrive, offering incredible investment opportunities to investors looking to become a part of the Harmony ecosystem, and aid Harmony-based projects in their growth phase by providing all that is needed to sustain the growth. 

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Its last two aims involve expanding the Harmony Network’s opportunities by encouraging high-value projects to build on Harmony Network and removing the unfair allocation process commonly associated with launchpads. Overall, seeing the massive traction that the Harmony ecosystem is seeing since 2021, one thing is for sure that Harmony Launcher will play a crucial role in the coming days to increase the adoption of Harmony Network. Thus, to fuel its growth, Harmony Launcher is launching in IDO in Q1 2022.

Teneo Finance: Helping Masses Explore Untapped Arbitrage Opportunities 

Teneo Finance is a yield generation platform. Its products serve traders, holders, and lenders: Sustainable Liquidity Farming, Internalizing Arbitrage, and Innovative Reflow Mechanisms. The traders can benefit from arbitrage opportunities, and on the other, it also allows holders to up their exposure to the upside while tackling the downside risks.  

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As for lenders, Teneo Finance offers an opportunity to earn interest on the liquidity they provide on the protocol. Also, the protocol has a triple seal of safety, as it has been certified by Hacken, Zokyo, and Certik. Its IDO will begin on February 22, 2022.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

 

Source: https://cryptodaily.co.uk/2022/02/top-5-nft-defi-and-crypto-idos-in-q1-202