Access Protocol, a Solana-based protocol revolutionizing content creator monetization, has unveiled two groundbreaking use cases for collateralized non-fungible tokens (cNFTs). This development led to a remarkable 50% surge in the price of Access Protocol’s native token ACS within just 24 hours.

Introducing New Use Cases for cNFTs

cNFTs, backed by collateral, have gained immense popularity in the crypto space. Access Protocol’s latest version now allows cNFTs to be wrapped using ACS, opening up innovative possibilities for content distribution and monetization.

Access v2 introduces two brand new use cases to NFTs: wrapped cNFTs and reward-bearing cNFTs. This introduces a new level of composability for content distribution and monetization, all made possible by Metaplex and Access Protocol v2.

Reward-Bearing cNFTs

Aside from wrapping cNFTs with ACS, Access Protocol has introduced reward-bearing cNFTs, offering users the chance to earn rewards through active platform engagement. This strategic move aims to incentivize participation and enhance community activity within the ecosystem.

The collaboration with Metaplex, a Solana-powered protocol specializing in NFT creation and auctions, has further strengthened Access Protocol’s position in the market.

Positive Market Response

Following the announcement, ACS prices surged by over 55% to $0.00333 in the past 24 hours, reflecting the crypto community’s enthusiastic response to the new use cases for cNFTs.

Access Protocol, established in 2021, is a leading blockchain platform offering decentralized access solutions for content creators and users. Through ACS, the platform enables token-gated paywalls, empowering creators to monetize their content effectively.

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