Binance recently invited juggernaut co-founder Nacho Llanillo to do an AMA. The AMA explored topics ranging from an introduction to Juggernaut to a discussion about NFTs and DeFi. Juggernaut is a complete DeFi + NFT infrastructure and ecosystem with BSC compatibility.
The Problems Of DeFi And NFT
Llanillo stated that he believes part of the problem with NFTs and DeFi is accessibility and that they should be accessible to all. Juggernaut is hopeful that it can help people be part of the DeFi revolution by merging DeFi and NFTs.
NFTs Still Have Room For Growth
Llanillo believes that with the number of celebrities that are promoting NFTs and IPs coming on-chain, NFTs are just entering the mainstream. He cited the astounding success of NBA Top Shot to emphasize the growing popularity of NFTs.
The Juggernaut co-founder also believes that despite the amazing variety of art and collectibles in the NFT space, only a small percentage of artists and creators have actually entered the space, and there is a lot of room for the growth of NFTs.
He believes that NFTs will grow stronger and gain more popularity in the coming years and that future NFT projects will justify the hype around NFTs. Juggernaut is trying its best to innovate the NFT space and keep the momentum in the space going.
The Road Ahead For The NFT Space
Llanillo stated that he believes the next step for NFT space is DeFi + NFTs and see the introduction of staking and DEXs. He cited the example of the possibility of NFTs that users can stake.
Advantages of Juggernaut over others
Llanillo also took the time to talk about the Juggernaut NFT exchange. Other NFT platforms are based on Ethereum and have significantly high gas fees that are too high for most users.
Juggernaut researched market trends and concluded that they are not fragmented and inclusive as what Juggernaut would like its exchange to be. Llanillo stressed the fact that Juggernaut allows pretty much anyone to mint NFTs for free, with only a small transaction fee involved, along 97.5% of the sales would go directly to artists and creators.
NFTs Are Already Mainstream But Can Get Even Bigger
According to Llanillo, NFTs are on the brink of going mainstream thanks to the sheer number of celebrities And IPs (Intellectual Properties) coming into the space. However, he believes that there is still a lot of work to do when it comes to the adoption of technology.
He believes that three factors can power NFTs into the mainstream.
Intellectual Properties: Llanillo cited the example of the NBA and how it got IPs into the NFT space, giving millions access to crypto.
NFT marketplaces: Marketplaces on the lines of eBay, although he believes that this will take a little time.
Physical NFTs: Connecting an artwork to an NFT.
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.