So far, the NEAR protocol has quietly evolved into a scalable PoS network. This week, the Layer 1 blockchain hit a major milestone as the NEAR token hit an all-time high at $20.33. This could be partly due to NEAR starting to reach major news outlets as Forbes named Near Protocol as the 3rd fastest growing crypto ecosystem for developers in 2021.

This is a sure sign that they are sticking to their goal of “motivating millions to join the Web3 revolution”. Bitcoin is trading 12% lower for the month while NEAR is up 102%. This is an incredible achievement considering the crypto market as a whole has had a rough start to the year.

Source: TradingView

The uptrend in the NFT market draws attention as they got in very early to focus intensely on projects of this nature. In it, the NFT Mintbase Market Center positions itself as the Shopify of the NFT world. With currently 919 stores, Mintbase is a major technology provider in the NFT sector.

NEAR Protocol is the brainchild of former Google engineer Illia Polosukhin and Microsoft developer Alexander Skidanov. In addition to the core team, projects choosing NEAR as a blockchain partner are quickly becoming a very potential choice for individuals and organizations looking to build in the blockchain space. Flux, Mintbase and Paras are 3 different examples of how NEAR is expanding its ecosystem.

Community-led ecosystem with positive user sentiment

NEAR has a strong focus on accessibility and usability with a user-centric approach to feature design. At the same time, they are committed to raising awareness of the benefits of blockchain technology.

NEAR protocol users enjoy these experiences.

In the last year, NFT has become famous as famous artists, developers, musicians and even athletes have jumped onto the stage. NEAR’s NFT community was well prepared and is now playing a pivotal role in using ultra-fast shard technology to build NFTs with speed and scale.

Celebrities and entrepreneurs moving from the traditional market to the world of NFT find a new home with the protocol. Electronic music producer Deadmau5 collaborates and the Mintbase platform to release the NFT of his single. Half of the singles “This is fine” are sold on Mintbase. Thanks to a major expansion of its reach, Mintbase now has more than 918 active markets.

Another notable project on NEAR is DAOREcords, a marketplace aiming to innovate record labels with exclusive events and drops in Metaverse Cryptovoxels. NFT Paras Marketplace users can create digital trading cards for their collection. They are also competing in the game-fi scene with segment-owned NFT models for in-game experiences with the OP Games project. The veteran founders of OP Games are seasoned gamers and know how to meet player expectations in the Web3 video games arena.

Continuous improvement about technical development and education

So far, NEAR developers have consistently focused on building a fast, scalable blockchain. As a shard network, it can process transactions faster and in larger volumes while maintaining the security of the blockchain.

The team has also developed a mechanism to dynamically adjust the network based on user needs, making it more cost-effective for existing users on the platform while still allowing for the necessary increase in activity.

The team also continually emphasizes the role of education on its platforms, providing tools and courses through NEAR Academy, sponsoring as many developers as possible, and teaching how to use its apps. The project builds on the system.

This bold move has certainly scored with projects interested in breaking into the Web3 realm. You recently launched a hackathon meta build, where contestants have a chance to win from a $1 million prize pool.

The NEAR protocol may be the underdog protocol by far, but the growing number of projects in this ecosystem will draw attention to the many scalable solutions on offer. Accordingly, NEAR is quickly becoming the focal point in space.

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