With the recent boom in the NFT market, many people wonder how to create an NFT. SuperFarm is a project aiming to simplify this process as much as possible, as well as provide additional use cases for them. Are you wondering if this project has potential? Look into the SuperFarm coin price predictions below to find out what the analysts think.
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SuperFarm Fundamental Analysis
SuperFarm is a cross-chain decentralized finance (DeFi) protocol designed to facilitate the creation of NFT without coding. The project includes the marketplace and an innovative set of tools for unfolding the farm with the users’ rules.
SuperFarm aims to bring utility to every token by minting it as NFT without the need to know any programming languages. The project empowers the NFT creators, collectors, and traders to participate in an open and accessible for everyone NFT marketplace. The SuperFarm platform was officially launched on March 21, 2021.
Users can use visual tools to build their farms with customizable rules and also to tune their incentives. SuperFarm also allows the creation of NFTs, farming the coins for them, and making new ERC-20 tokens as well as binding NFTs to the videogames. The farms can provide the rewards for the liquidity providers and they also boost long-term stakes and provide the access to the project services via NFTs with utilities.
SuperFarm is also considered as a link between crypto platforms and the video games industry, as its goal is also to support collectible tokens used in AAA games. Non-fungible tokens from the SuperFarm platform will let the users access playing and gain limited edition items in the gameplay.
The project was founded by Elliot Wainman, an American influencer and cryptoblogger. In the first round of funding, the project raised $1.1 million from Bitcoin.com, Spark Digital Capital, Solidity Ventures, Animoca Brands, and other big companies from the crypto world.
SUPER is SuperFarm’s utility ERC-20 token. It’s used for staking, governance, NFT drops, and fees on the platform. Users also need to have at least 100 000 SUPER tokens to create their farm. This condition is set to ensure the quality of the launched farms and NFTs.
The token has a total supply of 999 million and 357 million coins are currently in circulation.
SuperFarm Live Price Chart
At the beginning of 2021 SUPER was traded for $1.36 and the price was bouncing, at times dropping to the level of $1. The situation changed at the beginning of March when the launch of the SuperFarm platform was announced.
SUPER started to gain in value, though experiencing moderate corrections after each price spike. One week after the platform was realized, SUPER token reached its all-time high of $4.73 on March 31. After that the price started to go down, but still within the bullish trend, not dropping lower than the resistance level of $1.6.
The trend changed in mid-May when the crypto market faced a crisis. On May 23 SUPER token collapsed to $0.44 and continued following the bearish movement till it reached its all-time low of $0.26 on June 14.
After the price recovered it stayed around $0.4 till the end of July and then started to experience slow growth. SUPER market stayed bearish till the end of October. By November 2 the token changed and started to follow bullish trends again. At the time of publishing the token is traded for $1.98. Despite the latest recovery most analysts give a negative SUPER token price prediction, considering it as a bad short- and long-term investment.