Stellar Users Can Now Earn NFTs by Solving Difficult Quests on Network: Details

AnalysisStellar Users Can Now Earn NFTs by Solving Difficult...



Tomiwabold Olajide

NFTs can now be earned on Stellar network by completing tough objectives

Stellar (XLM) users can now earn NFTs by solving difficult quests through the gamified educational experience, Stellar Quest Learn. This comes amid growing awareness of cryptocurrency and the increased need for crypto education.

The Stellar Development Foundation (SDF) and Wirex, a top U.K.-based crypto payments platform, recently issued a poll that found high awareness and expanding use of cryptocurrencies for cross-border payments in four key markets: the United States, the United Kingdom, Mexico and Singapore.

Frustration with the present system is driving the change to crypto as a payment method, with 53% of those surveyed believing they spent too much in fees for overseas remittances using traditional methods and 37% not knowing what they paid in fees.

Moreover, the survey results, which were assembled from almost 10,000 customers, removed several fallacies about cryptocurrency awareness and usage, revealing that cryptocurrency awareness is higher than ever—over 80%—in all areas surveyed.

According to Denelle Dixon, SDF CEO and executive director, “The results confirm what we have seen in terms of growing real-world use cases for blockchain and cryptocurrency in emerging markets on the Stellar network. Consumers are adopting these new ways of sending money cross-border as a faster, cheaper alternative to traditional banking rails.”

Stellar, on the other hand, is establishing itself as an interoperability layer for a wide range of financial institutions, with an increasing number of Stellar anchors connecting fiat currencies to Stellar-issued stablecoins.

Recently, Starbridge, a trust-minimized Stellar-Ethereum connection, was released. To begin, Starbridge will work with Ethereum, where a considerable amount of DeFi is currently being developed. Local assets will be locked up in an account or contract when they are deposited into the bridge.

XLM, the native crypto asset of Stellar network trades at $0.1913 and is ranked 31st largest cryptocurrency, per CoinMarketCap.



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