Overview of NFT Crypto Projects
NFT crypto projects are all the buzz in the digital space right now and for a very good reason. However, since it’s a fairly new concept to many, the common question – “what is NFT crypto?” has been popping around too often. With a smart contract platform like Ethereum, it has become possible to tokenize digital media like art, music, gaming assets, and other digital collectibles. These tokens of digital media are called Non-Fungible Tokens or NFTs. NFTs are not interchangeable with each other, unlike other tokens/cryptocurrencies.
Because they are non-fungible (not interchangeable and unique), these tokens are used to purchase and prove ownership of digital assets in a decentralized, and secure manner using blockchain. This has been used successfully by celebrities, Influencers, digital artists, and game developers as a tool for monetizing their digital assets and fan-following.
NFT crypto projects like Enjin and Rarible help tokenize these digital assets and act as an NFT marketplace where you can buy or sell these digital assets.
History
Although cryptocurrencies came into existence in 2008, NFTs saw the light of the earth in late 2012 in the form of colored coins (although many NFT purists don’t agree that colored coins were the first form of NFT crypto). Colored Coins are small parts of Bitcoin, which can be as small as a Satoshi. However, as Bitcoin was not developed to enable NFTs, Colored coins worked best in a permissioned environment, which means it’s much easier to use a standard database for this purpose. However, it did spark the idea of NFTs, and eventually, by 2014, a platform named Counterparty was created.
Counterparty functioned on top of the Bitcoin platform, but was a P2P financial platform, with a distributed and open-sourced platform. This allowed asset creation, and over the course of the next two years, in-game assets, memes, and trading cards were sold in Counterparty. Again, since it was built on top of the Bitcoin blockchain network, this wasn’t truly a Non Fungible token.
NFTs, in their (almost) current form, started in 2017, in the form of Cryptopunks. Cryptopunks was the brainchild of John Watkinson and Matt Hall, who created 10,000 unique characters and gave them away for free to 10,000 Ethereum wallet holders. Since then, these characters are sold in a secondary marketplace – such as the ape character which was sold for as much as $2 million in Ether. However, ERC 721 (The type of Ethereum tokens that allowed Non-fungibility) was not invented thus far, and thus, is a hybrid between the current form of NFTs, and regular crypto tokens.
With the invention of the ERC 721 standards, Cryptokitties brought NFT to the limelight, where users could buy, sell, adopt and raise virtual cats on the Ethereum network. Other similar games and studios soon followed, with familiar faces like Lindsey Lohan, Logan Paul, among others, soon started to resort to NFTs to sell unique digital merchandise. In 2021, the NFT market is showing no signs of slowing down. Let’s have a look at some of the recent trends in the NFT Crypto Market.
Ongoing trends in NFT Crypto
The initial half of 2020, was somewhat stagnant for the NFT markets, but the pandemic, and the surge in the popularity of cryptocurrencies, also saw the boom of NFTs. A-listers like Elon Musk, Mark Cuban, were able to sell NFTs of tweets. In December of 2020, Beeple, a digital artist, sold his NFT collection called “Everydays”, for $3.5 million. This was the most valuable NFT collection to be sold as of December 2020
Popular YouTuber Logan Paul launched unique digital collectibles for a reported sum of $5 million, in February 2021, while Canadian Musician Grimes went to sell around $6 million in NFTs, as recent as February 28.
NFT Crypto is the hottest thing in the crypto space right now and is definitely the future of merchandise sales.
Let’s take a look at 10 of the hottest NFT crypto projects, shall we?
*(Price, ATM, Market, Volume and Other data for these altcoins is based on the date when the article was written, Live price , and volume data could be different for you when you are reading this article.)
1. FLOW
The Flow NFT token is not only a quick and developer-friendly blockchain, it is also constructed to be the foundation for a new generation of games, apps, and the digital assets. Flow is a layer-one blockchain originally developed by a team that boasts of a long and illustrious experience in consumer blockchain applications – from CryptoKitties and Dapper Wallet to of course, the NBA Top Shot.
| FLOW PROTOCOL PRICE | 24H RANGE: | ATH: | PLATFORM |
|---|---|---|---|
| $ 0.026003 | $ 0.026003 — $ 0.026003 | $ 2.28 (-99%) | Ethereum |
| MARKET CAP | CIRCULATING SUPPLY | 24H VOLUME | RELEASE DATE |
|---|---|---|---|
| $ 205,159#1680 | 7.89M (75%) | $ 0# | n/a |
Where to buy: FLOW can be purchased on cryptocurrency exchanges such as Kraken, Gate.
2. ENJIN
Enjin is a company that offers an ecosystem of integrated digital products, making it easy for everyone to trade and monetize gaming products. This allows game developers to tokenize in-game items on Ethereum, which is backed by Enjin coin, Enjin’s ERC 20 token. It has a market cap of close to a billion dollars and has the highest market cap of all NFTs as of 3rd March 2021. Enjin coin is one of the cheapest coins that we think has a high potential for growth in 2021.
Coin Details:
| ENJIN COIN PRICE | 24H RANGE: | ATH: | PLATFORM |
| $ 0.917458 | $ 0.755096 — $ 0.961495 | $ 0.961495 | Ethereum |
| MARKET CAP | CIRCULATING SUPPLY | 24H VOLUME | RELEASE DATE |
| $ 765.45M | 834.31M (83%) | $ 803.25M | Nov 2, 2017 |
Where to buy:
Enjin Coin can be purchased on cryptocurrency exchanges such as Binance, Bithumb, Uniswap, Balancer, etc.
3. MANA
Decentraland (MANA) is a VR platform functioning on Ethereum which allows users to “create, experience, and monetize content and applications”, Users can purchase plots of land that they can navigate, build and monetize as they like. As of January 2021, Aetheria, a Cyberpunk-themed district of the name Aetheria is the largest district, which comprises 8,008 LAND (each LAND is equivalent to 100 Square Metres). Ready Player One vibes, anyone? The project started with a successful $24 million ICO, with the virtual land opening its doors in February 2020.
Decentraland utilizes one ERC-20 (MANA) and one ERC-721 (LAND) token. MANA should be burned to acquire LAND tokens, where each LAND is equivalent to 100 Square Metres in the Metaverse – the virtual reality land.
| DECENTRALAND PRICE | 24H RANGE: | ATH: | PLATFORM |
| $ 0.299361 | $ 0.255179 — $ 0.315827 | $ 0.368905 ( | Ethereum |
| MARKET CAP | CIRCULATING SUPPLY | 24H VOLUME | RELEASE DATE |
| $ 471.35M | 1.57B | $ 151.27M | Sep 18, 2017 |
Where to buy:
MANA Coin can be purchased on cryptocurrency exchanges such as Binance, OKEx, Coinbase pro, etc.
4. Axie Infinity
Axie Infinity is a trading and battling game, which is partially owned and managed by the players, functioning on a blockchain. Axie Infinity was inspired by Pokémon, which allows users to collect, breed, battle, and trade tokenized battle creatures called Axies.
These Axies can take different forms, with more than 500 body parts for customizations, with differing rarity and drop rates. Axies can be bred, to produce more Axies (maximum limit set to 7), which can then be sold on the Axie marketplace. Axie Infinity uses the Axie Infinite Shards (AXS) ERC-20 token to participate in governance votes.
| AXIE INFINITY PRICE | 24H RANGE: | ATH: | PLATFORM |
| $ 1.87 | $ 1.61-$1.94 | $ 2.35 | Ethereum |
| MARKET CAP | CIRCULATING SUPPLY | 24H VOLUME | RELEASE DATE |
| $ 112.61M | 59.99M | $40.70M | Nov 4, 2020 |
Where to buy: AXS can be purchased only from Binance.
5. Terra Virtua Kolect
Terra Virtua Kolect is an NFT crypto marketplace that allows a curated, cross-platform (PC, Mobile, AR/VR, etc.) ecosystem for NFT creators and collectors alike. Partnered with mainstream digital media houses like Legendary Entertainment and Paramount Pictures, TVK raised about $2.6 million in token sales. This NFT crypto project allows the digital asset to be viewed online, via the mobile app, and can also be viewed in a 3D environment using Augmented Reality.
| TERRA VIRTUA KOLEKT PRICE | 24H RANGE: | ATH: | PLATFORM |
|---|---|---|---|
| $ 0.613523 | $ 0.528004 — $ 0.676549 | $ 0.817926 (-25%) | n/a |
| MARKET CAP | CIRCULATING SUPPLY | 24H VOLUME | RELEASE DATE |
|---|---|---|---|
| $ 515.36M#97 | 840.00M | $ 23.95M#208 | Jan 20, 2019 |
Where to buy: TVK can be purchased on cryptocurrency exchanges such as Binance, Uniswap, Bitmax, 1inch, etc.
6. Origin Protocol
Origin Protocol is a Decentralized shopping platform, commonly referred to as DShop in the NFT crypto world. The DShop allows buying of NFTs, as seen in the recent NFT drop by world-renowned musician 3LAU, where 33 unique NFTs were sold for a whopping $11,684,101, on 26thof February 2021. This auction was for the first-ever tokenized musical note album, and as 3LAU remarked, “is just the beginning for musicians to capture the immense value they create in the world”.
| ORIGIN PROTOCOL PRICE | 24H RANGE: | ATH: | PLATFORM |
| $ 0.432748 | $ 0.357147-$0.436431 | $ 0.834563 | Ethereum |
| MARKET CAP | CIRCULATING SUPPLY | 24H VOLUME | RELEASE DATE |
| $104.85 M | 242.82M | $56.16M | N/A |
Where to buy: OGN can be purchased on cryptocurrency exchanges such as Binance, Huobi, Uniswap, etc.
7. Chromia
Chromia, the blockchain platform which enabled people to build dApps easily, launched Chromia Studios in August of 2019, in collaboration with Workinman Interactive. With plans to go beyond NFTs, Chromia aims to support MMOGs (Massively Multiplayer Online Games) to run completely on blockchain. However, their first release was a mining game with economics and asset ownership elements, which can be played across different platforms, called Mines of Dalarmia.
| CHROMIA PRICE | 24H RANGE: | ATH: | PLATFORM |
| $ 0.060779 | $0.053011-$0.61940 | $.113426 | Ethereum |
| MARKET CAP | CIRCULATING SUPPLY | 24H VOLUME | RELEASE DATE |
| N/A | N/A | $16.21M | N/A |
Where to buy: CHR can be purchased on cryptocurrency exchanges such as Binance, Huobi Global, Upbit, Bithumb, Binance JEX, etc.
8. Rarible
Rarible is the NFT marketplace that utilizes the native RARI token to be a creator-centric platform. Any user can easily create NFT crypto for unique digital items, along with a fully functional NFT crypto marketplace. They use a part of the revenue to subsidize the first mint transaction – where the NFT is created, to fuel the growth of the platform. The RARI token is capped at 25,000,000, and a vast majority of the tokens are reserved for the Rarible NFT marketplace.
| RARIBLE PRICE | 24H RANGE: | ATH: | PLATFORM |
| $22.31 | $14.94-$23.25 | $28.88 | Ethereum |
| MARKET CAP | CIRCULATING SUPPLY | 24H VOLUME | RELEASE DATE |
| $ 19.08M | 855,330 | $65.45M | N/A |
Where to buy: RARI can be purchased on cryptocurrency exchanges such as Uniswap, Mooniswap, Balancer, etc.
9. WAX
Dubbed as the King of NFTs, the Worldwide Asset eXchange (WAX) is about to be partnered with CAPCOM, and provide ERC-721 and an ERC-1155(Multi-tokens, supporting fungible and non-fungible token types). Popular brands such as deadmau5, Atari, William Shatner, Capcom, and Topps among others have used WAX to launch their NFT crypto sales.
| WAX PRICE | 24H RANGE: | ATH: | PLATFORM |
| $ 0.089564 | $0.076454-$0.92373 | $0.216260 | WAX |
| MARKET CAP | CIRCULATING SUPPLY | 24H VOLUME | RELEASE DATE |
| $ 136.69M | 1.53B | $6.51M | Jun 30, 2019 |
Where to buy: WAXP can be purchased on cryptocurrency exchanges such as Huobi Global, Upbit, Bithumb, HitBTC, KuCoin, etc.
10. The Sandbox
The Sandbox is yet another blockchain-based platform that allows creators to monetize a specific type of digital assets- called VOXEL assets on the blockchain. Along with the NFT marketplace, the Sandbox also offers the ability to create VOXEL assets and games using the VoxEdit and the Game Maker software. The utility token SAND is used as the basis of transactions, and there will only ever be 3 billion sand.
| SAND PRICE | 24H RANGE: | ATH: | PLATFORM |
| $0.275649 | $0.231124-$0.287029 | $0.367553 | Ethereum |
| MARKET CAP | CIRCULATING SUPPLY | 24H VOLUME | RELEASE DATE |
| $185.69M | 675.27M | $178.49M | Aug 13, 2020 |
Where to buy: SAND can be purchased on cryptocurrency exchanges such as Binance, Huobi Global, CoinTiger, Upbit, etc.
What did you think of our list? Did we miss any of your favorite NFT crypto projects, let us know in the comments!
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Disclaimer:
Altcoins listed in this article are based on the author’s research. The author is not holding any of these altcoins. Always do your own research before investing in any cryptocurrency.
Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.
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