NuNet

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This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is NuNet?

NuNet (NTX) is a multi-chain utility token that powers a decentralized computing platform, facilitating transactions, incentives, and governance within the ecosystem. It enables users to access computational resources, compensate resource providers, and participate in decision-making processes. NTX is based on both Ethereum and Cardano, with a total supply of 1 billion tokens, and supports AI, ML, and LLM applications while prioritizing data privacy and security.

How is NuNet used?

NuNet (NTX) is the native utility token of the NuNet platform, designed to power and facilitate transactions within the decentralized computing ecosystem. The token serves several purposes:

  1. Access to Computing Resources: NTX provides users with access to the computing resources and services offered through the NuNet platform. This includes the ability to share, monetize, and utilize various computing capacities, algorithms, data, human creativity, and machine intelligence.

  2. Transaction Settlement: NTX is used to settle transactions between all constituents involved in a computational workflow provisioned via NuNet. This ensures seamless and efficient compensation for computing resources within the ecosystem.

  3. Micro Payments: NTX enables real-time, crypto-based micro payments, enhancing security and reducing costs within the platform. This facilitates the smooth exchange of value for computing resources.

In summary, NTX is the key to unlocking the decentralized computing capabilities of NuNet, allowing users to access and monetize computing resources while ensuring efficient and secure transactions within the ecosystem.

How do I store NuNet?

To store NuNet (NTX) tokens, you can use several options:

  1. Guarda Wallet: Guarda offers a multi-currency wallet that supports NTX. You can create a wallet, buy, send, receive, and store your NTX securely. Guarda is available on multiple platforms, including PC, Mac, iOS, and Android.

  2. Trust Wallet: You can add NTX to your Trust Wallet by searching for NuNet or its ticker (NTX) in the list of available tokens. If supported natively, you can receive NTX tokens directly in the wallet.

  3. Metamask Wallet: Metamask supports millions of assets and blockchains, making it another option for storing and trading NTX.

These wallets provide secure and user-friendly platforms for managing your NTX tokens.

How to buy NuNet?

To buy NuNet (NTX) tokens, follow these steps:

  1. Create a Wallet:

    • Use a compatible wallet like Eternl or Nami to store and manage your tokens securely. Ensure you use the official websites to avoid fake versions.
  2. Fund Your Wallet with ADA:

    • Buying Direct from Wallet: Use your debit/credit card to purchase ADA directly from the wallet, which will redirect you to the Guardarian platform.
    • Buying from an Exchange: Create an account on an exchange that supports Cardano, such as Kraken, Binance, or Coinbase. Fund your exchange account, locate the ADA trading pair, place an order, and execute the trade. Then, withdraw the ADA to your wallet.
  3. Convert ADA to NTX:

  • Swap in Eternl Wallet: Users of Eternl wallet can swap ADA for NTX directly in the wallet using the Muesliswap DEX aggregator.
  • Swap on Exchanges: You can also swap ADA for NTX on exchanges like Minswap, MEXC, or Uniswap.
  1. Alternative Methods:

    • Buy NTX Directly: You can buy NTX directly on exchanges like MXC, NovaDAX, or LBank using various payment methods such as credit/debit cards, bank deposits, or peer-to-peer trading.
  2. Transfer NTX to Your Wallet:

    • Once you've purchased NTX, you can hold it in your exchange account or transfer it to your personal cryptocurrency wallet for additional security and passive revenue opportunities.
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History of NuNet

NuNet (NTX) is a multichain utility token that exists on both Ethereum and Cardano blockchains. The token was initially minted on November 26, 2021, with a total supply of 1 billion tokens. The distribution of tokens was divided between the two blockchains, with 58.123% (581,250,000 NTX-ETH) on Ethereum and 36.875% (368,750,000 NTX-ADA) on Cardano.

In April 2022, 50 million NTX-ETH tokens were burned and replaced with 50 million NTX-BNB tokens on the BNB chain. However, NuNet stopped supporting the BNB chain from January 31, 2023, and users were advised to bridge their tokens to Ethereum.

The token is designed to power the economy of decentralized computing marketplaces, leveraging advances in micropayment ecosystems, distributed computing, and blockchain technologies. It aims to integrate the world's computing, storage resources, and data into one meta-marketplace, allowing users to share, monetize, and utilize the value of their storage, computing capacities, algorithms, code, data, human creativity, and machine intelligence at scale.

NuNet is the second project to spin off from SingularityNET and the first project to launch from the SingularityDAO Launchpad. The technology development and early use cases of the NuNet platform are geared towards supporting the computational infrastructure of decentralized AI agents of SingularityNET.

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How NuNet works

The cryptocurrency NuNet (NTX) is the native utility token of the NuNet platform, which is a decentralized computing network. This platform leverages a global network of independent computing devices to create a unified, machine-to-machine ecosystem, revolutionizing how computational resources are utilized and rewarded.

Key Features
  1. Decentralized Computing: NuNet taps into global GPU and computing power, enabling decentralized workflows and applications. This approach increases resilience and aids decentralization, particularly on the Cardano blockchain.

  2. Open-Source and Scalable Architecture: The platform is built on an open-source ethos, fostering transparency and community-driven innovation. Its scalable architecture adapts to growing user demands, ensuring a reliable and efficient computing environment.

  3. Chain Agnostic: NuNet supports seamless integration and interoperability across diverse blockchains, offering flexibility and access to the best features of each. This adaptability keeps NuNet at the cutting edge of blockchain evolution.

  1. AI and ML Support: NuNet empowers AI, ML, LLMs, and AGI applications by providing essential computing resources, fostering innovations and enabling significant advancements across multiple sectors.

  2. Serverless Deployment: The platform enhances flexibility and efficiency through serverless deployment, simplifying application development without infrastructure management and speeding up market entry.

  3. Crypto Micro Payments: NuNet's cryptocurrency micro payments streamline transactions within its ecosystem, offering real-time compensation for computing resources, enhancing security, and reducing costs.

  1. Decentralized and Data Privacy: The platform enhances security and supports data sovereignty through geolocation and strict data privacy measures, distributing resources globally to minimize regional disruptions and comply with local privacy regulations.
Tokenomics

The NuNet Token (NTX) is designed to power the global economy of decentralized computing. It provides access to computing resources and services via the NuNet platform and settles transactions between all constituents of a computational workflow. The token has a total supply of 1 billion, with 300 million tokens distributed at launch and 100 million offered to community supporters.

Usage and Investment

NTX tokens can be bought and traded on centralized exchanges like KuCoin, where users can create an account, verify their identity, and add a payment method to purchase the tokens. Additionally, users can bridge their Ethereum-based NTX tokens to the Cardano blockchain to participate in the NuNet EarnDrop rewards program. The token's price is predicted to grow, with some forecasts reaching $0.177.

In summary, NuNet (NTX) is a utility token that facilitates decentralized computing by providing access to computing resources and services while ensuring seamless transactions and data privacy. Its open-source and scalable architecture, along with its chain-agnostic approach, make it a promising investment opportunity in the cryptocurrency market.

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NuNet's strengths

The token NuNet (NTX) has several strengths that make it a promising investment opportunity:

  1. Multi-Chain Utility Token: NTX is designed to exist on multiple blockchains, including Ethereum and Cardano, allowing holders to choose which blockchain they want to use. This flexibility enhances its utility and potential for widespread adoption.

  2. Decentralized Computing Economy: NuNet aims to revolutionize the multibillion-dollar cloud computing industry by creating a global computing framework that connects individual computing devices, regardless of size, location, or ownership, to a decentralized machine-to-machine marketplace. This innovative approach has the potential to disrupt the traditional computing services market.

  3. Tokenomics and Network Functionality: The NTX token is designed to power and facilitate transactions between network constituents, ensuring a robust and efficient network tokenomics function. Additionally, it exposes the token to the crypto markets, allowing users to acquire it for immediate or later usage on the platform.

  1. Predicted Price Growth: According to price predictions, NTX is expected to experience significant growth in the coming years, with potential price surges in 2026 and 2029. This growth is driven by factors such as continued development in the NuNet platform, increased adoption, and mainstream acceptance.

  2. Strong Market Cap and Circulation: NuNet has a substantial market capitalization and circulating supply, indicating a robust and active market presence. This can contribute to the token's stability and liquidity.

These strengths position NuNet (NTX) as a promising investment opportunity in the cryptocurrency market.

NuNet's risks

NuNet (NTX) carries several financial risks that investors should be aware of. According to InvestorsObserver research, NuNet achieves a high risk analysis score, indicating that the token can be easily manipulated by limited trading activity. This is based on the amount of money required to shift its price over a 24-hour period, along with changes in volume and market capitalization.

Additionally, market analysis suggests that NuNet is currently experiencing a downtrend, making it suitable only for short-term investments. It is crucial for investors to prepare a proper exit strategy before investing and consult their financial advisors for any investment plans.

Furthermore, the price of NuNet can be affected by various factors, including overall cryptocurrency market trends, demand and supply for the token, and technological advancements of the NuNet platform. These factors can lead to significant price fluctuations, making it essential for investors to stay informed and adapt to changing market conditions.

Overall, NuNet (NTX) presents a high-risk investment due to its potential for manipulation and market volatility. Investors should exercise caution and thoroughly evaluate their investment decisions.

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Did NuNet raise funds?

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NuNet’s team

  • Dr. Kabir Veitas: CEO and Co-Founder of NuNet, who has been actively involved in community engagement and has provided detailed insights into the project's vision, tokenomics, and governance structure.

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