Is it time for Polkadot to bump up the NFT industries?

It's a fact that one of the major topics in 2021 was the crosschain interoperability between various blockchain networks. Actually, the bridge to Ethereum is the most common and most important one because a lot of projects still run on Ethereum. There have been some good solutions to this problem already.

Some protocols like Fantom, BSC, Avalanch... are good examples of the practice but IDK why people keep overlooking Polkadot, even if they are in the top 10 when it comes to the market cap for a long time + they are specifically designed to offer the upper mentioned multichain support.

Part of the answer may lie in the fact that some people still don't know why Polkadot token is used for. On many competing networks the native tokens are used for contract actions like swaps and transfers but on Polkadot, protocols are using their native tokens to pay for the gas. You can use DOT to participate in parachain auctions, use it for staking, governance...

For me, the long-term position on DOT is strong AF, especially with all the upcoming parachain projects. Acala and Moonbeam already showing their potential when it comes to DeFi and Ethereum compatibility. It will be interesting to see what will happen with the auctions that are yet to come. Projects like Unique Network already have a good starting position and I think that they are going to take a parachain slot since they are the first-movers when it comes to Substrate-based NFTs.

I think that NFTs have a bright future on Polkadot in general because it's more sustainable, scalable and you won't have to deal with the high fees, which can be a serious pain in the ass, you must admit.

Clover Finance, on the other hand, already merging DeFi applications with Bitcoin blockchain, DeFi with NFTs, and Ethereum with Polkadot. Technically speaking, it's a Substrate-based parachain that seeks to reduce efforts and costs for the developers in decentralized finance.

The bottom line, the whole ecosystem deserves a lot more attention.