NFTs or non-fungible tokens have special features Which distinguish them from cryptocurrencies. That’s why these digital assets are becoming so popular.
Fungible means anything that can be easily exchanged or swapped one for another. So non-fungible means something that has unique properties and is difficult to exchange because each is unique. This unique feature is like an original version of a painting in that there is only one original version. NFTs can be traded like any other asset in the cryptosphere.
Dozens of NFT marketplaces have also sprung up where people who are interested in these unique tokens can trade – buy and sell these NFTs. There are also minting platforms that are dedicated to the development and building of non-fungible token.
What Can Be Minted?
The limit to what can be minted by a developer, an artist or a creator is in their own imaginations. If it can be conceptualized, it can also be minted as a non-fungible token. There are several NFT minting platforms and many more are coming up. For instance, IOTA, the Internet of Things (IoT) blockchain platform that uses the Tangle technology recently announced plans to build an NFT marketplace. Other popular marketplaces for NFTs are Rarible, Mintable, OpenSea, Async Art, etc.
Blockchains that support NFT minting include Polkadon, Ethereum, Binance Smart Chain, Cosmos, WAX, Tezos, Tron, etc,
Advantages of NFT tokens
Uniqueness: These tokens have their own characteristics that are not found in other tokens.
Rarity: Developers generate a limited number of tokens.
Real Ownership: With an NFT, you are the real owner.
This token was created in 2011 on blockchain-based. The sandbox allows users to buy, sell, and develop digital assets in the form of a game.
Axie Infinity has been created as a trading and battling game for users. In this game, you collect, breed, raise, battle, trade digital creatures called Axies. Each Axie is a non-fungible token and each has its own characteristics. Axie Infinity also has a native token called AXS.
This project was created in 2017, and its goal is e-commerce transactions safer, simpler, safer. It is currently trading at $ 0.28 and is ranked 129th by coinmarketcap.
The MekaVerse comprises some Mekas that are unique elements. The inspirations for the NFTs came from Mecha metaverses, a Japanese Japanese platform. Each artwork is created with its own color palette and creation and is different from other artworks. MekaVerse NFTs were sold 4339 times in the last 7 days. The total sales volume for MekaVerse was $ 88.45M.
Decentraland (MANA) is a virtual reality platform that uses the Ethereum blockchain. It also allows users to create and monetize anything on this platform. Digital LAND on this platform is called “LAND”. In particular, LAND is a non-exchangeable digital asset (NFT) held by Ethereum smart contracts. Users can buy and sell LAND or even rent them in a digital metaverse or build something.
Engine Coin (ENJ)
ENJ was created in 2017 as a blockchain for NFTs with a major focus on the video game industry. Currently, many game developers use this platform to create games. The ENJ token allows players to have their own characters and items in the game. This platform turns virtual gaming products into tradable digital assets.
Other NFT tokens include:
- My Neighbor Alice
- Origin Protocol
- And many other tokens