NFT holders grappling with the downward trend of the NFT market, have been offered a lifeline with the launch of the first ever Token Paired NFT Staking Platform.
Since the crash of the cryptocurrency market, NFTs have seen a downward spiral, reaching a 12 month low in June. Experts have theorized that NFTs and other digital currencies often lose their value overtime, because they fail to provide holders with real value. But all is not lost. Staking is one of the few options that can be used to increase one's position during a downward trend. This is because it allows token holders to earn more, simply by holding. This rewarding process provides stabilizing benefits and creates a firm foundation for new investment.
Wrinkle Werx, Inc. has embarked on a mission to offer real world value to NFT investors with the staking platform. The new platform allows NFT holders to earn high yields by staking their NFTs with ParaWerx tokens. Each NFT staked on this platform multiplies the original staked token amount. The individual token staking representation increases by a set percentage based on the specific NFT collection each staked NFT is staked from. What's more is that multipliers like the ParaPrepper NFTs, increase a holder's position in the pool, allowing them to earn more rewards than they would have otherwise receive. Users can also increase their staking representation position, thru the use of time locks, with time lock options ranging from 30 – 120 days. But that's not all. With the Para Staking platform, users are able to claim rewards every 24 hours, even if they utilized time lock multipliers. They also have the option to allow their rewards to accumulate; with the ability to re-staked to compound the user's position.
CEO of Wrinkle Werx, Lee Tolleson, is excited about the new platform. When asked about the motivation for creating the Para staking platform, he explained: "We wanted to give NFTs value and a real-world use case. We also had an overwhelming desire to be first to market with ground-breaking innovations that close the gap on industry wide shortcomings. Moreover, we wanted to offer our token and NFT holders the opportunity to generate passive income thru these rewards. We have no doubt that our platform will offer more stability to current and prospective holders."
But it's not just the Para staking platform that will be bringing more value to NFT holders and Cryptocurrencies in the future. Wrinkle Werx is also gearing up to launch their ground-breaking Zero Layer DAG Protocol utility. This utility will allow users to use their Crypto currency on everyday purchases thru the integration with Point-of-Sale Systems at online and physical retail locations. The Zero Layer DAG Protocol payment utility will instantly and affordably turn speculative cryptocurrency assets into usable currencies in the real world. Plans are also afoot to release additional utilities that will bring even more value to Cryptocurrency and NFT's.
"Everything we are doing is about bringing safety and value to the cryptocurrency industry space," said Tolleson. "So we have simultaneously been working on being prepared for current and future government cryptocurrency regulation compliance."