Non-fungible token, also known as an NFT, is a cryptographic asset that can be identified with specific identification codes and has associated metadata.
These can’t be exchanged or traded at equivalent value, unlike cryptocurrencies. In contrast to fungible tokens such as cryptocurrencies, which are identical and can be used for commercial purposes, the ATO tokens are unique to each other.
Beyond understanding how NFTs can transform conventional asset management, many people are interested in the promising economic potential associated with them.
NFT creators and investors have a lot of opportunities in the non-fungible token space, as the market is gradually evolving.
To make better decisions in your NFT journey, you may benefit from getting an overview of the various types of non-fungible tokens. Thus, there has been a rise in interest in understanding NFT types over the past few years.
How Do NFT Work?
Almost all NFTs live on the Ethereum coin’s blockchain, a distributed public ledger that keeps track of transactions. NFTs represent individual tokens that contain valuable information. Unlike other physical art forms, their values are primarily set by the market and demand.
A unique identifier on NFTs makes them easy to verify and validate ownership, as well as token transfers between owners.
The following would constitute the most prominent entries in a non-fungible tokens list:
Most Prominent Entries Into NFT
1. Collectibles
Cryptokitties, online collectibles are the most prominent example of NFTs. The first instance of the use of NFTs was Cryptokitties. As an interesting side note, Cryptokitties was so popular in 2017 that it caused Ethereum to become congested.
In digital collectibles, Cryptokitties are one of the most striking additions to the list of non-fungible tokens. They are digital kittens with distinctive characteristics that make them more popular and desirable.
2. Artwork
NFTs are also a popular choice for artwork. In this domain, non-fungible tokens are typically referred to as programmable art, which combines the unique traits of creativity with technology.
Under certain conditions, there are currently many limited edition artwork pieces available for programmability.
To create images represented on blockchain networks, artists could use oracles and smart contracts. Legacy arts industries have also been encouraged to participate in digital art NFTs.
3. Event Tickets
NFTs would include event tickets as another promising addition. NFTs like these provide people attending music festivals or concerts with the opportunity to verify their identity and tickets.
A selected blockchain platform would allow event managers to mint a specific amount of NFT tickets.
The customers would buy the tickets through an auction and store them in their wallets with easy access via their mobile devices.
4. Music And Media
NFTs are also being experimented within media and music, which has led to another category of NFTs.
Those with true ownership rights can access music and media files by linking them to NFTs. Rarible and Mintbase are two of the most popular platforms for minting NFTs.
5. Gaming
NFTs have captured the attention of a wide range of developers. Most non-fungible tokens in the gaming domain are associated with in-game items.
In-game items can be registered as property, thereby driving the growth of in-game economies. NFTs in the gaming sector focus on introducing players to a wide variety of benefits.
6. Real-World Assets
Even though you cannot find many NFT types used as tokens for real-world objects, progress in NFT technology can make this happen.
Projects in the NFT sector include tokenizing real estate and luxury goods. NFTs are deeds, and they can make it easier for you to purchase a car or house with an NFT deed.
Cryptographic proof of ownership allows NFTs that represent real-world assets to take advantage of these opportunities.
7. Identity
One of the most important characteristics of non-fungible tokens is their scarcity. Each NFT is unique and cannot be exchanged for any other token.
NFTs for identities work the same way as NFTs for event tickets. These can be used as unique identifiers, thereby contributing to the success of identity management systems.
Identity-based NFTs have common applications in certification and licensing. The identity management sector could be transformed by mining certifications, licenses, and NFTs to prove and verify records.
Moreover, identity-based NFTs would allow individuals to securely store proof of their identity without the risk of losing it.
8. Memes
NFTs have made significant progress in the past few years, with the sale of memes as NFTs.
Memes have been associated with NFTs and being part of popular culture and an instant favourite of internet users. Unique meme creators can partake in an evolving futuristic ecosystem by selling memes as NFTs.
9. Domain Names
NFTs are also domain names, which are becoming more popular. Unstoppable Domains and Ethereum Name Services (ENS) are examples of decentralized domain name services.
With ENS, users can transition from long and complex addresses to a flexible and friendly experience with an easier onboarding process.
Also Read: 5 Best NFT Visualizers
13 Best NFT Tokens List
1. CryptoPunks – Larva Labs
CryptoPunks was founded in 2017 as one of Ethereum’s first non-fungible token ventures. Each punk was created via an algorithm, and the total number of collectibles was set at 10,000. On the Ethereum blockchain, each one can be owned by one person.
Each character is unique. Human Punks are the most prevalent, but other Punk species exist. Only 9 Alien Punks, 24 Ape Punks, and 88 Zombie Punks remain. At auction, Alien Punks fetched more than 8 million dollars.
https://www.larvalabs.com/cryptopunks
Check Live price of CryptoPunks: https://coinmarketcap.com/currencies/unicly-cryptopunks-collection/
2. Axie Infinity
Axies are the creatures that appear in Axie Infinity, a popular blockchain-based game. To play the game, you’ll need three Axies, thus as the platform grows in popularity, the price of Axies will automatically rise.
Axies vary in price based on their features, but you can get one for roughly at 200 dollar.
Check Live price of Axie Infinity: https://crypto.com/price/axie-infinity
3. Bored Ape Yacht Club
Bored Ape Yacht Club uses NFTs in the same way CryptoPunks do. Various cartoon apes are included in the project, with the cheapest apes costing 75 ETH ($255,000).
An Ape could have been had for roughly 1 ETH just a few months ago, making this project one of the fastest-appreciating NFT collectables in the business.
Since its establishment, BAYC has distributed NFTs to token holders of the Bored Ape Kennel Club and Mutant Ape Yacht Club, with floor values of 6 and 15 ETH, respectively.
In addition, the Bored Ape Yacht Club hosts special events for token holders, such as a private concert in New York City with The Strokes and Lil Baby.
https://boredapeyachtclub.com/#/
Check Live price For Bored Ape Yacht Club: https://www.coingecko.com/en/nft/bored-ape-yacht-club
4. Larva Labs – Meebits
Larva Labs, the same company that created CryptoPunks, launched Meebits. Meebits were selling for roughly 2.4 ETH when they were first released. Prices today range from 3 ETH to 100s of ETH, depending on the Meebit’s rarity.
Meebits are 3-dimensional characters that may be utilized in open-world blockchain applications and are intended for use in the Metaverse.
https://meebits.larvalabs.com/
Check Live price For Larva Labs – Meebits : https://nftpricefloor.com/meebits
5. Proof Of Beauty Studios(HASH)
Proof of Beauty is a cutting-edge NFT initiative dedicated to recording and praising the Ethereum blockchain’s history. HASH, the first NFT series from Proof of Beauty, allows users to turn personal and historical blockchain transactions into beautiful NFT artworks.
Proof of Beauty’s algorithm integrates transaction metadata into color palettes, shapes, and textures, whether it’s Vitalik’s first Ethereum transaction or Jay Z’s Cryptopunk purchase.
The second Proof of Beauty series, LONDON, features 8,888 pieces of generative art. During the hard fork, London gift NFTs became available, and the first transaction after the EIP-1559 update was a London NFT sale.
Check Live Price For Proof of Beauty Studios: https://crypto.com/price/hash-token
6. Mutant Ape Yacht Club
Mutant apes provide access to the same network at a fraction of the cost of Bored Apes, which are hoarded by celebrities and venture capitalists.
A total of 20,000 Mutants are available, including a few Mega Mutants for as little as 3,000 ETH ($9 million). Using an airdrop, Mutant Apes were made available to members of the Bored Ape Yacht Club.
Adidas “Into the Metaverse” NFT project also offered early access to all 30,000 apes, which sells for over three times today’s normal retail price. The benefits of membership in the MAYC club are enormous, and investors see the coin’s value with a floor price of 15 ETH.
https://opensea.io/collection/mutant-ape-yacht-club
Check Live price for Mutant Ape Yacht Club: https://cryptoslam.io/mutant-ape-yacht-club
7. Enjin
Enjin is an Ethereum-based community or social gaming platform where players may establish groups, talk, and even operate virtual item stores. It was founded in 2009 by Witek Radomski and Maxim Blagov.
It is a popular gaming platform with over 250,000 gaming communities and 18.7 million registered gamers. Enjin currency, on the other hand, allows game producers to tokenize in-game objects. Players can make and sell virtual goods through the site.
Enjin’s NFT ecosystem continues to expand, encouraging individuals and businesses to produce, exchange, and distribute NFTs.
Enjin also created the Efinity Metaverse Fund on November 4th. The fund is anticipated to raise $100 million to assist Efinity metaverse projects.
Check Live price for Enjin: https://crypto.com/price/enjin-coin
8. Theta Network
Theta launched NFTs as part of its strategy to become one of the leading blockchain networks for media and entertainment.
With a focus on video-on-demand, NFTs, and other digital collectibles, Theta Network goes beyond video, data delivery, and computation to enable decentralized storage of digital assets.
Theta Network has long-standing partnerships with companies developing NFTs on the blockchain and incorporating NFT drops into live events and fan rewards.
Katy Perry bought a stake in developer Theta Labs in June 2021, and in December, she debuted her first NFT collection on the network.
In the first quarter of 2022, Theta expects to deploy a cross-chain bridge to the Ethereum blockchain for decentralised exchanges, applications, and NFTs, allowing holders to transfer their assets.
The first quarter also intends to introduce its TDROP decentralized governance token. THETA tokens are currently utilized for governance and validator or guardian node staking. TFUEL is the network’s native transaction token.
Check Live price for Theta Network: https://crypto.com/price/theta-network
9. Tezos (XTZ)
Tezos uses a function module that introduces new functionality without requiring a hard fork in the blockchain, a self-amending ledger based on cryptocurrencies. Tezos is an open source blockchain that allows NFTs.
Its XTZ token has appreciated as the network has acquired notable collaborations for some of the most promising NFTs. Following a network update in early October, the XTZ price soared to an all-time high of $9.18 on October 4th.
When games producer Ubisoft said it would enter the NFT market using Tezos in early December, the XTZ price soared once more.
Rarible, an NFT marketplace, has connected with the Tezos blockchain, its third after Ethereum and Flow, allowing Tezos NFTs to be traded on the site.
The price of XTZ finished 2021 with a 115 percent year-over-year increase.
Check Live price for Tezos: https://crypto.com/price/tezos
10. Chilz
Chiliz is the first company to provide a decentralized platform for connecting fans. This is the world’s first blockchain-based rewards network and fan engagement platform. Digital currency is popular in both entertainment and sports.
Fans can buy, trade, and influence polls and surveys relating to their club on this platform. A firm wanted to bridge the gap between passive and engaged sports fans by providing them with a fan token.
The on-platform currency CHZ can be used to purchase fan tokens. The native token of this platform allows users to have governance power within the Socios app.
Check Live Price For Chilz: https://www.coingecko.com/en/coins/chiliz
11. GALA
Gala Games is another Ethereum-based application that accepts the GALA token as payment. NFTs are sold, bought, and traded with the GALA token, making it a hub for blockchain games.
This has a major impact on game releases, in-game purchases, and other considerations. The player-owned Node Ecosystem underpins everything in the Gala Games Network.
Users that run Gala Nodes from their personal computers help the Gala Network.
Check Live Price for GALA: https://coinmarketcap.com/currencies/gala/
12. Sandbox
Blockchain-based Sandbox is a game and virtual world where you can buy, sell, and trade virtual plots of land. Sandbox is built on the Ethereum blockchain, which acts as its foundation. It is well-known for the stability and security it provides.
It is, on the other hand, not particularly inexpensive to use. SandBox has generated its Ethereum-based cryptocurrency, designated as SAND, to accomplish this.
SAND tokens allow you to pay gas fees on the Ethereum network using your cryptocurrency.
Check Live price For Sandbox: https://crypto.com/price/the-sandbox
13. Decentraland (MANA)
It is a virtual social environment that runs on the blockchain. The blockchain serves as the foundation for the universe of Decentraland.
The blockchain is essentially a digital ledger that records bitcoin transactions across a network of computers in an immutable manner.
The Decentraland platform can be used for various activities such as hosting conferences, participating in games, and trading virtual goods in marketplaces. Making friends and interacting with other members is just as simple as in real life.
Decentraland is a digital ecosystem that allows its users to participate in events, play games, trade products and services in its markets, and socialize with people from all over the world through blockchain technology.
Check Live price for Decentraland: https://crypto.com/price/decentraland
