Most of the good fortunes enjoyed by various Blockchain technology outfits and exchanges have continued to ride on the back of several investments and series of fundings that most of them have enjoyed from investors and venture capitals. For example, popular crypto exchange- Coinbase, before its public listing, has resorted to various forms of fundings from Venture Capitals, as it needed to meet its required valuation for its direct listing. However, the popular Non-fungible token (NFT) tracker- CryptoSlam is at the center of a new funding, as NFT billionaire investor- Mark Cuban has pumped fresh investments into the project.
Cuban is a massive fan of the Randy-owned CryptoSlam
The Dallas Maverick owner, who has continued to meddle around NFTs for a while now, has reportedly committed his funds into CryptoSlam via his venture capital- Radical Investment. Since launching in 2018, CryptoSlam has become one of the few crypto firms that have been shown keen interest in the burgeoning NFT market, a space the Billionaire Shark Tank star seems to be a massive fan of CryptoSlam that was launched three years ago by Randy Wasinger, to track the affairs of the digital collectibles of Major League Baseball Champs.
However, the data aggregator has since grown to become a household name in the booming NFT space, and they are now the go-to media outlet for many NFT admirers and investors. In his official press briefing, Cuban admitted to being a fan of the Randy-led project and expressed his delight at being one of the contributors to the project. Cuban believes that, just like the growing popularity of the NFT space, CryptoSlam will continue to thrive, and that was why he committed his funds to the NFT-themed project. Cuban is also wary that competitors will spring up soon, but he believes that the fantastic work CryptoSlam has been doing in the last three years will speak for them.
Can Ethereum handle the workload of the NFT space?
The recent success of CryptoSlam further shows that the NFT terrain will continue to thrive, as much as the overall crypto market. NFTs continue to attract many crypto investors, as the uniqueness of the digital tokens continues to be admired by many. Fortunately, most of the NFT projects, just like the DeFi space, continue to ride on the back of the Ethereum Blockchain. However, many analysts continue to be concerned about how long Ethereum can continue to back the NFT projects, considering the demands from the network.
Ethereum is the leading service provider of many DeFi protocols, and despite its high gas fees, its competitors have been unable to thrive. The Blockchain network has been preferred to other smart contracts networks, primarily due to its high transaction speed and scalability. Fortunately, there are expectations that Blockchain networks like Justin Sun-owned TRON, in the future, will likely provide a home for NFTs. However, while that is still a futuristic expectation, the NFT space is expected to continue to thrive as demands continue to soar high.