Recently, Altcoin Daily co-host Aaron Arnold looked at several crypto projects that are currently showing \u201cbig potential\u201d. <\/p>\n
Arnold made his comments in a video released on Altcoin Daily\u2019s YouTube channel on November 17. Although in that video, Arnold talked about nine altcoins, in this article we focus on five of these: Crypto.com ($CRO), Injective Protocol (INJ), The Sandbox ($SAND), Binance Coin ($BNB), and Chainlink ($LINK).<\/p>\n
Earlier this week, Singapore-based centralized exchange\u00a0Crypto.com signed another huge sponsorship deal, as the result of which the iconic sports area in downtown Los Angeles that is currently known as \u201cStaples Center\u201d will be renamed to \u201cCrypto.com Arena\u201d.<\/p>\n
Staples Center is \u201cowned and operated by the Arturo L.A. Arena Company and\u00a0Anschutz Entertainment Group\u00a0(AEG); it serves as home venue for the\u00a0Los Angeles Kings\u00a0of the\u00a0National Hockey League\u00a0(NHL), as well as the\u00a0Los Angeles Lakers\u00a0and the\u00a0Los Angeles Clippers\u00a0of the\u00a0National Basketball Association\u00a0(NBA), and the\u00a0Los Angeles Sparks\u00a0of the\u00a0Women\u2019s National Basketball Association\u00a0(WNBA).\u00a0<\/p>\n
On Wednesday (November 17), Stapes Center issued a\u00a0press release\u00a0to announce that Cypto.com and AEG had signed \u201ca historic, 20-year naming rights agreement\u201d that renames Staples Center to Crypto.com Arena on December 25 and makes Crypto.com an official cryptocurrency platform partner of the Los Angeles Lakers and the LA Kings.<\/p>\n
The press release went on to say that \u201cAEG and Crypto.com will unveil the new logo and other branding assets including internal arena signage of the newly named Crypto.com Arena on Christmas Day, when the Los Angeles Lakers host the Brooklyn Nets. All of the venue\u2019s external signage will be replaced by June 2022.\u201d<\/p>\n
Arnold said:<\/p>\n
\u201cThe naming rights deal is one of the biggest in sports history, and they have the rights to this for 20 years. It is undeniable the reach that Crypto.com is gaining in America and around the world. It is crazy watching Crypto.com execute a $1 billion dollar sports marketing campaign<\/em>.\u201d<\/p>\n The Injective team say that this is \u201cthe first fully decentralized cross-chain derivatives exchange protocol\u201d and that the following are the benefits of using Injective Protocol:<\/p>\n Arnold said:<\/p>\n \u201cInjective Protocol has announced the launch of its mainnet. To accompany [this], Injective is also releasing a $120 million program to incentivize liquidity provisioning and trading. They\u2019re incentivizing people to use their platform. The program will allocate the funds to market makers and traders who utilize the protocol based on their activity.<\/em>\u201c<\/p>\n Here is how Binance Research\u00a0described\u00a0Ethereum-powered virtual world The Sandbox back in August 2020:<\/p>\n \u201cThe Sandbox is a virtual world built on the Ethereum blockchain, where players can build, own, and monetize their gaming experiences\u2026 The SAND token is an ERC-20 utility token that is used for value transfers as well as staking and governance\u2026 Players can create digital assets in the form of Non-Fungible Tokens (NFTs), upload them to the marketplace, and integrate into games with Game Maker.<\/em>\u201c<\/p>\n On November 2, The Sandbox announced that it had managed to raise $93 million in its latest funding round, which was led by SoftBank Group\u2019s second venture capital fund, Vision Fund 2.<\/p>\n Arnold believes that the upcoming launch of the multi-week Play-to-Earn event \u201cThe Sandbox Alpha\u201d is a \u201creally big deal\u201d:<\/p>\n \u201cHuge update: Sandbox Metaverse Alpha to launch on November 29th after four years in development. Animoca Brands\u2019 virtual property and gaming firm The Sandbox is opening up part of its metaverse to players for the first time via a multi-week play-to-earn [P2E] Alpha event.<\/em><\/p>\n \u201cThe Sandbox virtual gaming world enables users to monetize their time spent in the metaverse via a play-to-earn model. The players can purchase land and create non-fungible tokens (NFTs) within the game and earn Sandbox tokens (SAND) by completing various quests. They can also stake their tokens into a variety of other things.<\/em><\/p>\n \u201cAgain, they\u2019re launching the Alpha, then soon Beta, and then soon the full-fledged launch. This is four years in development. This is a really big deal.<\/em>\u201c<\/p>\n In this segment of the video, Arnold was focusing on the competition that Binance Smart Chain (BSC) presents to Ethereum.<\/p>\n According to Binance Academy, BSC is \u201cbest described as a blockchain that runs in parallel to the Binance Chain\u201d. In contrast to Binance Chain, \u201cBSC boasts smart contract functionality and compatibility with the Ethereum Virtual Machine (EVM)\u201d. BSC\u2019s main design goal was \u201cto leave the high throughput of Binance Chain intact while introducing smart contracts into its ecosystem\u201d.<\/p>\n Here is Binance Academy explaining BSC\u2019s consensus mechanism:<\/p>\n \u201cBinance Smart Chain achieves ~3 second block times with a Proof-of-Stake consensus algorithm. Specifically, it uses something called Proof of Staked Authority (or PoSA), where participants stake BNB to become validators. If they propose a valid block, they\u2019ll receive transaction fees from the transactions included in it. <\/p>\n \u201cNote that, unlike many protocols, there is no block subsidy of freshly-minted BNB, as BNB is not inflationary. On the contrary, the supply of BNB decreases over time, as the Binance team regularly conducts coin burns.\u201d<\/p>\n Arnold said:<\/p>\n \u201cBinance Smart Chain, still in the conversation in a big way. Binance Smart Chain hits record daily high transactions. The DeFi [decentralized finance] platform has actually recorded approximately 1.75 billion lifetime transactions since its launch in August 2020. Binance Smart Chain as an Ethereum competitor or interoperator cannot be ignored.<\/em>\u201c<\/p>\n Here is how Binance Academy describes Chainlink:<\/p>\n \u201cChainlink is a blockchain-based decentralized oracle network that allows smart contracts to connect to external data sources. These can include APIs, internal systems, or other types of external data feeds. LINK is an ERC-20 token that\u2019s used to pay for this oracle service on the network.<\/em>\u201c<\/p>\n Arnold had this to say about Chainlink: <\/p>\nInjective Protocol ($INJ)<\/h2>\n
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The Sandbox ($SAND)<\/h2>\n
Binance Coin ($BNB)<\/h2>\n
Chainlink ($LINK)<\/h2>\n