'China's crypto ban had little impact on Neo,' says organization's developers
Once hailed as the "Ethereum of China," Neo's token price has fallen on hard times ever since the world's most populous nation introduced a series of acute bans on cryptocurrency operations last year. In an exclusive interview with Cointelegraph, Neo's developers — who wished to remain anonymous — explained that partners run most projects sponsored by Neo Global Development, or NGD, from a wide range of countries outside China that serve users all over the world.
In addition, Neo continues to expand inside China. It is currently one of seven open permission blockchains servicing the nation's Blockchain-based Service Network, or BSN. One of the group's goals is to expand the adoption of nonfungible tokens in the country.
There's also been quite a few decentralized finance, or DeFi projects, and decentralized applications, or dApps, since the launch of the Neo 3.0, sometimes stylized as Neo N3, mainnet last year. One example is Defina Finance, an anime-styled NFT metaverse game that uses a play-to-earn model. Total trading volume in the Defina marketplace has exceeded $100 million at time of publication. Defina began expanding to Neo N3 in 2021 in partnership with NGD.
But according to the project's team, the "coolest" development is probably that of Rentfuse. Our sources from Neo explained:
Its developers, too, appear to be fond of the greater Neo community. "We reached thousands of people through Neo socials to let people know more from us, and we have developed the core contracts of Rentfuse,” so said Michael Fabozzi, founder of Rentfuse, in a statement to Cointelegraph. "Thank you for believing in us."
Meanwhile, sources at GhostMarket, a multi-chain Neo NFT marketplace that recently raised $2 million in strategic funding
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