The 2022 bear market has left even the most well-known crypto projects struggling to regain their position in the market. Filecoin (FIL) and Axie Infinity (AXS) are two such projects whose value has been on the decline since the commencement of the crypto winter. However, there have been some new crypto projects like the Orbeon Protocol (ORBN), launched during the bear market, which have captured investor attention for their smart business model with current gains sitting at 655%.
Orbeon Protocol (ORBN): Predicted to Survive the Crypto Winter
Orbeon Protocol’s (ORBN) business model aims to transform the crowdfunding and venture capital industry whilst simultaneously benefiting investors and new businesses. Through Orbeon Protocol (ORBN), startups can quickly find the right communities to connect with and raise sufficient funds in the crowdfunding round. At the same time, everyday investors get to choose promising ventures to invest in, from a marketplace of vetted real-world businesses, ensuring that investors always reap long-term benefits.
Orbeon Protocol (ORBN) uses an NFTs-as-service (NFTaaS) feature that allows traders to invest in startups for as low as $1. When a business wants to launch a funding round, Orbeon Protocol (ORBN) mints and fractionalizes an NFT for the company. This NFT represents the trader’s investment in the company. Orbeon Protocol (ORBN) embeds a ‘Fill or Kill’ mechanism in its smart contract, guaranteeing that investors will get their money back if a project doesn’t raise the required amount in the crowdfunding round.
ORBN is the native currency of the Orbeon protocol, and had an initial price of $0.04. Top market analysts predict that Orbeon Protocol is enroute to increase by 6000% in its presale stage due to its utility. benefitting both businesses and investors.
Filecoin (FIL) Price Declines Dramatically
Filecoin network (FIL) is a decentralized peer-to-peer file storage system enabling users to store, retrieve, and host digital information. Filecoin (FIL) deploys the ‘Storage Market’ and the ‘Retrieval Market’ to handle the storage and retrieval of files. Storage miners pledge to commit their resources to store data from a client on the Filecoin (FIL) network. The clients pay storage miners to store this data. Clients then pay retrieval miners to deliver the data when required from Filecoin. FIL is the native cryptocurrency of the Filecoin ecosystem, used as payment for the storage and retrieval services. Filecoin (FIL) is also an incentive to assure clients that files are stored reliably on the Filecoin network.
The current price of the FIL token is $4.46, which is 98.12% below its all time high of $237.24.
Axie Infinity (AXS) NFT Game Struggles in Bear Market
Axie Infinity (AXS) is a blockchain-based NFT game where players can collect and battle unique creatures and raise them as pets. Similar to Pokemon Go, Axie Infinity (AXS) enables players to create and sustain a digital kingdom for their pets called Axies. These Axies, and virtual real estate in the game, can be sold via an in-game marketplace in the form of NFTs in Axie Infinity (AXS) . Even though Axie Infinity (AXS) was launched in 2018, by August 2021, the game had more than 1 million daily players. During that time, Axie Infinity (AXS) was one of the biggest crypto apps on the Ethereum blockchain.
AXS is the token that governs the Axie Infinity platform. The current price of Axie Infinity’s AXS is $8.08, which is 95.11% below its all time high of $165.37.