Did you know BitTorrent will form a non-fungible token in the near future? Will this affect the price of Bittorrent (BTT) at a later date?
Bittorrent (BTT) is one of the most popular crypto assets on Indodax. This is because the price has jumped dramatically from under Rp.10 to above Rp.100.
This phenomenon occurred several weeks ago. When BTT increases thousands of percent in just a matter of days.
Today, BTT returned to its highest level above Rp. 120, after having dropped to Rp. 90.
What is BTT? Does he have strong fundamentals? Then, how will the NFT be? Check it out below.
Bittorrent or BTT is a crypto asset from the BitTorrent platform, which is a peer to peer file sharing or delivery platform.
For those of you who have often shared or downloaded videos, you must have often come across BitTorrent
There are many blockchain companies that have collaborated with Bittorrent. She was later bought by Justin Sun, the owner of Tron.
Non-Fungible Token (NFT) is an open auction system that allows people to sell art and technology on a blockchain platform.
Due to the adoption of blockchain technology, NFTs also allow sellers of works and buyers to be registered with IPR, patents and more.
Usually, NFTs use the Ethereum network and their payments are also using Ethereum. Because indeed Ethereum presents a network to give birth to new cryptos or new blockchain platforms, including NFTs.
So far, Ethereum is the master of the NFT. Ethereum has been considered good so far because it has succeeded in creating a new ecosystem, giving birth to many cryptos and also being successful in the DeFi ecosystem.
However, NFT does not only belong to Ethereum, although it is by far the most widely used. Currently, Theta is also building an NFT platform. Then, the BSC or BNB token has stated that it will create its own NFT platform using the BSC network.
BitTorrent is boosting the BitTorrent File System (BTFS) service so that it can build an NFT platform. BitTorrent is currently held by Justin Sun, who is also the Founder of Tron.
Of course, later the NFT of BitTorrent (BTT) will use the Tron network. Currently, the network available is TRC-721. Tron will enlarge the TRC-721 network to include physical and digital works and incorporate them into the blockchain network.
However, although it is said that it will be launched in the near future, it is not certain when BitTorrent will launch BTFS for NFT.
Will the NFT make BTT prices go up?
Technology upgrades are one of the reasons crypto assets go up in price, even the increase can be fantastic. Do not go far, Ethereum has reached its highest price peak 3 times in history (All time high / ATH).
Starting from Rp. 30 million, Rp. 40 million and Rp. 50 million in just two months. The increase was due to the booming NFT.
Seeing this, it is likely that BTT will increase again. Although the BTT price is now at its highest level. BTT might be able to break through a fantastic price beyond its ATH of IDR185.
You can buy BTT crypto assets on Indodax. Do the following: