The best part about investing in these digital tokens is that selling, purchasing, or trading these tangible assets have become seamless and safer while reducing the chances of any kind of fraud. NFTs are consistently witnessing tremendous growth in popularity among investors. Moreover, these one-of-a-kind assets have no physical form and can only be purchased and traded like the same way in the crypto world. These tokens support the creation of a digital certificate of asset ownership. At the same time, the buyer’s possession demonstrates the proof that the individual owns the ‘original work.’
How Does NFT Work?
NFTs are created digitally and could be music, drawing, artificial intelligence, or any other digitalized material. The majority of the NFTs are part of the Ethereum blockchain, while not on Bitcoin, Dogecoin, or any other crypto coins. In simple words, Non Fungible Tokens are supposed to be a collective item that is only digital. When purchasing an NFT, the person claiming to purchase the specific token is accredited to the full rights of the exclusive ownership, which means only one owner possesses the right to own it. To make it more transparent, the digital data showcases who is the original owner of the particular NFT and ensures the rights could only be transferred between buyers and sellers through transfer tokens.
50 Top Rated NFT Tokens by Market Capitalization
Listed below are some of the most popular NFT tokens as per their market capitalization:
- THETA (Theta Network) $6951million 2. MANA (Decentraland) $5950 million 3. AXS (Axie Infinity) $4990 million 4. XTZ (Tezos) $4385 million 5. CHZ (Chiliz) $2110 million 6. ENJ (Enjin Coin) $1578 million 7. SAND (The Sandbox) $600 million
Most Popular NFT Tokens To Buy In 2022
Most popular NFT tokens are collectively responsible for enhancing the value of the real artwork. NFT’s have immensely transformed the life of digital artists. Moreover, many celebrities are going on board and engaging their fans by showcasing their impeccable piece of digital artwork. Like a physical or digital deed, digital art is an application that displays the owner’s name of that one-of-a-kind asset; an NFT token. Check out the list of all-time favorite NFTs list:
1. Theta
Launched in March 2019, Theta is a blockchain-powered network introduced with the primary goal of decentralizing data delivery, video streaming, and edge computing. As of January 2022, the coin is traded today at $4.18 and is predicted to increase 5 times by 2026. Also Read: 20 Best NFT Marketplaces
2. Decentraland
Launched in 2017, Decentraland is a virtual reality platform empowered by the Ethereum currency. The all-time high value of MANA reached $5.85. However, it is currently traded at $2.94. It is an ERC-20 token that needs to be destroyed to receive the ERC-721 LAND Non-Fungible Token.
3. Axie Infinity
One of the most interesting battle games, Axie Infinity, is adhering to blockchain-based trade in which participants from all around the globe own and run the portion of the game. The platform is inspired by renowned games including Tamagotchi, and Pokemon, enabling users to combat, gather, grow, breed, and trade token-based animals known as Axies. These Axies take distinctive shapes on different body parts, up to 500, including plant, bug, reptile, beast, bird, and aquatic.
4. Chiliz
The NFT was founded in 2018 and is empowered with the first blockchain-based fan interaction and incentives network. The name of the network was Socios.com. Primarily, it is a fan engagement and rewards app enabling fans to engage with multiple teams and clubs through digital assets called Fan Tokens. Many fans purchased branded Fan Tokens with this coin because of its utmost recognition. The coin is traded at $0.2655 as of January 2022. The best part is that the platform allows fans to engage in conversations with their favorite teams. Incredibly good!
5. Enjin Coin
Introduced in June 2018, the digital asset was launched to underpin the value of blockchain assets such as NFTs. Enjin Coin instantly backs all the tokens created with Enjin Platform. The coin is currency, as in January 2022, is being traded at $2.33. Also Read: 16 Best Cryptocurrency Brokers
6. Tezos
Tezos is a blockchain network based on smart contracts that allow users to vote on network-related issues such as protocol updates. The platform was introduced in September 2014 and holds the current market price of $4.13 (as of January 2022)
7. Flow
The platform is immensely responsible for developing NFTs, big crypto games, and applications. Flow is a high-performance blockchain designed to scale for numerous users engaging with NFTs such as in-game products. The platform was created by Dapper Labs, which introduced NBA Top Shots and CryptoKitties blockchain game in the market.
8. WAX
Blockchain-based platform WAX was released in 2017. The primary purpose behind the introduction of WAX was to make e-commerce transactions secure, faster, and seamless. WAX’s current market price is $0.396 (As of January 2022), and an all-time high price was recorded in December 2017 at $5.01. Also Read: 11 Best Cryptocurrency Apps
9. DigiByte
If you are a cryptocurrency fan, you would know about DigiByte beforehand. Isn’t it? Yeah, we know we are right! Digibyte is known to be one of the longest-running alternative blockchains that entices artists and developers. Numerous users realized its potential at the time when the prices of the NFTs offered by Digibyte was skyrocketed in a monthly trade volume. However, the main concern is how long Digibyte’s market cap will remain under $1 billion.
Popular NFTs By Trading Volume
Unlike Bitcoin or other crypto coins, the digital assets with distinctive properties are called Non Fungible Tokens. These tokens can be traded with one another, be it art games, land titles, game items, or other physical or digital items.
Top NFT Projects
The best 5 NFT brands you must know about right now are mentioned below:
WS:NL: NFTee Under Armour: Stephen Curry Sneaker Masters of Horror: Hellraiser Applebee’s: Meta Mondays VisitLEX: Non Fungible Thoroughbreds
Are NFTs Expensive? NFTs are expensive as they are among the internet classics. You might have already seen on the internet all the celebrities claiming to own a few NFTs by paying a hefty price. These bizarre tokens represent the ownership of unique items, beginning from paintings to tacos, toilet paper, or real estate under it. These tokens helped many celebrities to grab public attention and created enormous memes on the internet. According to Ethereum.org, no organization or individual have the right to change or modify the record of NFT ownership or copy/paste a new NFT into existence. They are expensive because they are one-of-a-kind and are not interchangeable due to their unique properties. For instance, Ethereum (ETH) or USDs are fungible as 1ETH or $1. Plus, these further be exchanged with the items or assets of the same value, which serves similar to a trading card. Also Read: 12 Best Penny Cryptocurrency to Invest Most Popular NFT Collections in 2022 Malaysian buyers bought one of the most famous NFTs ‘First Tweet,’ while the second most famous NFT was Hasmarks, a collective work of more than 70 artists and comprises 16000+ unique digital portraits. Over a period of 3 days of its introduction, the work paid off to all the artists by selling at more than 100,000% profit and was ranked 5th in the popular list of 2021. Another renowned NFT was sold for over $69 million in February 2021, called ‘Everydays: the first 5000 Days.’ How To Buy NFT? It is important to know in today’s world how to buy an NFT. Isn’t it? The first thing you need to do is connect your wallet to the marketplace. Most marketplaces have a straightforward option on the platform displaying ‘Connect Wallet.’ Once you browse the marketplace and choose the NFT, you like. After selecting the NFT, place the bid for the NFT you want in the auction section of the platform. You can make payments to purchase NFTs using cryptocurrencies or credit on platforms like Kraken, Coinbase, eToro, or PayPal. The most popular NFTs marketplaces to purchase magnificent digital tokens include Rarible, Foundation, theta Drop, OpenSea.io, SuperRare, Larva Labs, NBA Top Short Marketplace, Mintable, etc. How Is An NFT Different From Cryptocurrency? Primarily, NFTs are tokens that are not fungible. However, cryptocurrencies are fungible. Although, they are programmed the same way compared to NFTs. Just like cryptocurrencies, NFTs cannot be traded and exchanged for each other. Unlike NFTs, cryptocurrencies are always worth the same amount, which implies one Ethereum is always worth 1 Ethereum, and 1 dollar can always be exchanged with another dollar. The fungibility of cryptocurrency makes it a secure way to execute blockchain transactions. In contrast, NFTs are not like other materials. Instead, each NFT contains a digital signature that prevents NFTs from being substituted for or compared to one another. How to Produce an NFT Token? You do not need extensive technical knowledge to come up with an exotic NFT token. Multiple NFT marketplaces allow you to make NFT with your artwork, such as OpenSea, Rarible, or Mintable. The foremost thing you need to do is get your media ready as the NFT can support music files (MP3), visual files (PNG, JPG, etc.), and much more. Once you complete this file, the next step is to add it to a minting platform and label it as a Non Fungible Token (NFT). It is done by connecting your crypto wallet to a marketplace for NFTs. Recommended: 20 Best Crypto Exchanges without KYC Verification Once you have done this, you need to create a section within your marketplace and upload your artwork as single or multiple collections. The next step is to mention the price of your NFT. By doing this, your art will be tokenized as NFT, and you are good to go. The future of NFTs is a sustainable business that is viable for everyone in society. The NFT serves as a great platform and boosts the morale of many professional artists to launch their product as an NFT and get a deserving price for showcasing their talent. In addition, virtual real estate is a serious consideration in our digital world, and NFT provides seamless transactions for modern businesses. So it will be great to see how NFTs will be evolved over the coming years and what changes they will bring to blockchain technology that is trying to reduce their carbon footprint.
