NFT crypto projects are making waves in the digital world these days. The ability to tokenize assets like media (art and music), e-gaming collectables and even tweets has changed how we monetize everything. Non-Fungible Tokens (NFTs) are a special class of tokens that are non-interchangeable with one another, in contrast to other tokens or cryptocurrencies.
The uniqueness of NFTs are used to represent ownership of assets in a decentralized and secure way using blockchain.
photo credit: CryptoKitties / Flow
The Best NFT Projects so Far
NFTs have gained immense popularity and there are a number of projects and platforms today that are dedicated towards the creation and market of these tokens. We have listed the top NFT projects for you, based on the services, what their NFTs represent and the popularity amongst the crypto users.
This Moscow-based project is a complete NFT creation marketplace. It allows users to mint, purchase, and sell their digital collectibles and products such as digital art, domain names, DeFi insurance policies, memes and met verses.
Users can begin by uploading digital collectibles in any of the several supported formats and adding description of the file, including pricing. To finalize the minting, owners will need to transfer cryptos over to the platform it will create the NFT. Rarible also has its governance token, the RARI. RARI holders can submit and vote on framework recommendations, including choices in regards to exchange charges and the addition of new features. Currently, Rarible is exploring a better intersection between NFT and DeFi, and it has collaborated with Yearn Finance and blockchain centric insurance platform Nexus Mutual to introduce insurance coverage NFTs.
Flow is a blockchain launchpad that is specifically designed for high throughput scaling without the need of second layers solutions or sharding. Its ability to help projects launch their own NFTs provide swiftly and ease which integrate well with dApps like NFT marketplaces and crypto-infused computer games.
Flow is very much popular amongst different industries, especially the entertainment one. Its vast portfolio includes global brands like Warner Music, NBA and even game developers such as Animoca Brands. The famous NBA Top Shots NFTs that allow tokenization of different game instances is what truly makes Flow great.
The Enjin platform is a holistic ecosystem of items intended to empower the creation, distribution, storage, trade, and integration of tokenized gaming assets. Enjin adopters are utilizing the platform for NFTs that range from art to in-game collectable items things that can be then sold or bought utilized across numerous platforms.
Enjin NFTs are directly minted by Enjin and backed ENJ, the platform’s own ERC-20 token. It basically gives in-game items certifiable liquidity, which opens up the opportunities for crypto-backed and blockchain gaming and gamified platforms. Developers need to lock ENJ tokens in order to mint digital items backed NFT. At the point when a player acquires these things, they can utilize them in-game, exchange, or even sell these for ENJ.
Chromia is a complete independent blockchain network that is popular amongst decentralized games and other dApps developers that tackles the adaptability issue for dApps. It comprises of a network of relational blockchains. Chromia allows users and developers to create their own NFTs, called Chromia Originals. Since every token is backed by an asset, Chromia refers to these as Non-Fungible Assets (NFAs), showing that inherently, the tokens are the assets.
Wax is a marketplace for digital assets, serving in excess of 400 million online players that sell, purchase, and collect in-game items as NFTs. Their popularity has attracted big names such as William Shatner, Atari and Capcom. It is also supporting the ERC-1155 token standard that allows multi token types to be transacted in a single move. As one the largest markets in NFT trading, it has captured the interest of many and is its self-proclaimed title of King of NFTs is something that no other project is yet able to challenge.
Axie Infinity is a decentralized card game based on Ethereum. The game permits players to raise and fight different characters, each one having its own unique ability and powers. With more than 500 individual aspects of characters that can be customized, each player is unique and can even be used to breed more. As players win rounds and climb up the ladder, the attributes of the characters get stronger and are more sought after, increasing their market value, which can then be sold off by the owners for profits.
NFTs have certainly become a new plaything for the uber-rich and these above discussed NFT projects are a proof of that. While 2020 set out a strong establishment for NFTs, 2021 has seen them go mainstream with giant partnerships from areas including sports and digital art. NFTs will excel further if more collaborations happen and such collaborations bring their enormous fanbase to the NFT space.