Why I'm bullish on Portify as SocialFi: Engage and Earn!
The cryptocurrency space doesn't stop to give everyone more opportunities and constantly developing ways to engage and let people earn cryptocurrencies even without the need to spend any amount from your own pocket. All you need is your dedicated and your perseverance with a little knowledge can make you a deserving one to those opportunities.
Blockchain gaming and decentralized finance are just some of the hottest ways to start earning in cryptocurrency and with it, it offers us some kind of great experience. However, for you to take on this trends, you need a valuable amount of money for you to start generating profits. So this article will be about a SocialFi, being developed by Portify, a new way to socialize, engage and earn free cryptocurrency without spending a single cent.
Portify is a social media platform almost like with Twitter... But better and more to offer. With Portify, you can socialize with other people in their platform and engage, you can also track all of your assets from different chains that's integrated into the DApp, you can trade cryptocurrencies with their own exchanger inside and you can earn cryptocurrency with their social media platform called Blyte.
We already know some of the social platforms where we can also gain free cryptocurrencies like in noise.cash and read.cash that rewards users with $BCH that runs on Bitcoin Cash blockchain, Publish0x that rewards it content creators with different kinds of cryptocurrencies that mostly runs on Ethereum chain and LeoFinance that rewards users with $HIVE that is on the Hive blockchain.
But Portify is new in the space and still being developed by the team, and the project is currently running under the BNBChain which I think will be expanded to other chains as well in the future.
Like mentioned above, Blyte will almost be the same with Twitter, however, your every post in the platform could be more worthy. Every user can send and receive cryptocurrency to each other whenever they like your content. Sounds familiar right? Well, of course, that's what noise.cash are doing right now.
One of the unique things of Blyte is that it integrated NFT and token staking in the platform, the rarer your Portify NFTs and the more tokens you staked in the platform, the more earnings you can get.
What I am hoping with this platform of Portify is that adding wallets from different chains can be possible so that every users can get tipped or receive other cryptocurrencies depending how the senders like to tipped the content and not just with $PFY and $BNB tokens.
Portify continuously develope their products in order to deliver a quality project for every people who wants to jump in. Right now, Portify's socialFi, the Version 2, lots of features are already available for everyone who wants to try the platform including;
Post and comment on your post and other.
Search and follow other users.
Write up to 280 words per post.
And more. Read their medium article for more information: Portify V2 Update.
You can also find about an announcement of incoming partnership of the project to gain more exposure and about the NFT and token staking and the rewards.
Portify app has its own native token called $PFY that has different use cases for the project. You can use the token to buy the premium access of the app or the VIP Features and more utilities coming.
The total supply of $PFY is 100,000,000 and it only has a max supply of 180,000,000 - there will be no more tokens to issued in the future, no more but can be less.
The initial supply was only 100,000,000 tokens and the remaining 80,000,000 tokens were vested on December 2021. This means that the maximum $PFY supply to circulate in the market is only limited, and with different use cases to be added in the future together with its burning mechanism, $PFY will be more scarce and it can give positive impact on its price.
To tell everyone frankly, there is no assurance in the crypto space that a project is safe because everything here comes with a risk, and Portify is not an exception. Cryptocurrency is volatile, it can jump high or dive below. It is matter of trading strategy of everyone whether they hold, traded or spend the tokens of that certain project.
It is a matter of trust and research, I spent enough time to understand well about Portify and even if the developers are still anonymous, I don't see any sign that this project is a rugpull or will eventually fail because its fundamentals are considerable.
I saw the project when it was around $1 million market cap and it went over $20 million after a few months. With people experiencing a bearish market, Portify losses its market cap and went back to $1.3 million market cap. I'd say this is a great deal considering the future potential of success for the project.