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NEM (XEM) Gears up for an Upswing with Exciting Partnerships

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NEM

With the crypto market touching $400 billion this year, the market has experienced a boom in the third generation decentralized applications (Dapps). Blockchain technology, which has made remarkable advancements over the past few months, has moved beyond Bitcoin and Ethereum. As the rival currencies soar in numbers, altcoins like NEM are renewing investors’ interest in the blockchain.

Functional since March 2015, NEM has recorded a steady progress. When compared to its peers, NEM’s performance has been consistent for the most part of the year. While big names like Bitcoin and Ethereum are the most vied-after investment options, they are frequently criticised for their security breaches, price volatility, and high transaction fees. Supported by top-notch security protocols and its unique Proof of Importance (POI) algorithm, NEM has cemented its place in the mainstream crypto space. The following segments explore the latest developments on the blockchain, which include some game-changing partnerships.

Multiversum Announces Partnership NEM and ProximaX

As a dynamic blockchain platform, NEM has made some interesting upgrades in the system, drawing thousands of investors around the globe. The blockchain, which released SDK Version 0.9.3 to support NodeJS 10, has announced XPOS implementation. Besides these upgrades, the blockchain network has anchored its position in the community with some influential partnerships.

Right after the New York Consensus in May, a partnership between Multiversum, NEM, and ProximaX was announced. As per the agreement signed by the founders of the three projects, the partnership aims to integrate Multiversum’s decentralized relational database with the NEM and ProximaX. Speaking of the prospects of the partnership, the Multiversum founder Andrea Taini observed, “Our vision is to develop together a set of tools to be integrated into a sort of Decentralized Operation System. A system that would meet every decentralized application needs. Multiversum provides a decentralized DataBase to secure data in the blockchain, ProximaX from its side provides a decentralized space system to store secure files and managing data streams, and lastly, NEM assists this integration with several tools, representing the engine of the decentralization. Thus, a perfect conjunction of knowledge and capability.”

NEM Ties up With BitPrime 

Among the more recent announcements, NEM’s partnership with BitPrime has become the talking point in the crypto space. According to the update released on medium, the Christchurch-based BitPrime platform will work with NEM Foundation to create a more secure and compliant digital platform to the New Zealand- based residents, enabling them to execute faster transactions with NEM tokens.

Recognised as one of the top retailer platforms, BitPrime is a trusted New Zealand-based platform, specializing in more than 50 cryptocurrencies. With both the teams making the partnership official, there will be a launch event in June to auspicate the partnership through an XEM airdrop and other important incentives. Regarding the announcement of the partnership, NEM’s expansion Director for Australia and New Zealand, Jason Lee reported, “Firms like BitPrime are a key part of the blockchain and cryptocurrency ecosystem. This partnership will signify a big win for both parties because of the shared commitment to help ordinary members of the public and enterprises to understand and trade cryptocurrency”.

Other Developments

The new partnerships, which are meant to bolster NEM’s global reach, mark the beginning of a new phase for the blockchain. The altcoin, which is on the rise, has made many other notable upgrades within its network. Tracing the developments on the blockchain, the tie-up between Tutellus, NEM, and Cryptonomos has created waves in the market. Besides this, other exciting developments, such as FreeMarket’s decision to utilize NEM Blockchain to solve volatility in smart contracts, created fresh interest in the blockchain.

Final Thoughts

As evident from the price charts, NEM has recorded a steady downtrend with occasional highs. Considering the general price trends of the major currencies, the downtrend can be interpreted as a temporary volatile phase. Going by the price movements, the coin dropped -$0.0183 or -7.07 on June 5. The coin, which ranks 15th by market capitalization, is available for trading at $0.250760 USD at the time of writing. Besides, the coin is making a great momentum with new development updates, and the enthusiasm is translated into a positive market response. Speaking in terms of numbers, the coin has moved up by 3.29% from its earlier position. With a market capitalization of $2,256,840,000 USD, NEM (XEM) anticipates making a fresh comeback in the market, while preparing for a massive bull run.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has…

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