NFTs (non-fungible tokens) are a kind of cryptocurrency that is very new and has a wide range of potential uses. Because each NFT is distinct and cannot be substituted by another token, they vary from more established cryptocurrencies like Bitcoin. They are thus ideal for a wide range of applications, such as decentralized markets and digital collectibles.
Digital assets like music, art, or video can be represented as belonging to a person or entity using NFTs. The fundamental tenet is that NFTs can be employed to vouch for a specific digital asset’s originality and creator-verified status. This would lessen piracy and guarantee that authors are fairly paid for their work. As a result, the NFT market has been rising, growing by more than 21.0% in 2021. Most people connect NFTs to JPEG images of the Bored Ape Yacht Club. Nevertheless, leaving the hype aside, NFTs can be useful in a variety of sectors, from gaming to supply chain management. By offering new revenue streams and ways to save costs, it can drastically alter the environment of those businesses.
Many investors are investing in NFT projects as a result of the widespread acceptance of the NFT market in many different industries. With numerous large NFT projects currently under development and ongoing projects appreciating in value and proving to be profitable investments, this massive adoption is anticipated to continue till late 2022. There are currently NFT coins specific to NFT communities as a result of the tremendous evolution of NFTs.
Top NFT Tokens in the Crypto Market are mentioned below;
Decentraland (MANA)
The native NFT coin of Decentraland is called MANA. Wearables, avatars, characters, skins, and other assets can all be bought with MANA NFT coins in the Decentraland marketplace, along with non-fungible Decentraland land parcels.
On the Ethereum blockchain, a virtual realm called Decentraland has been created where you may interact with games and other activities. The first Metaverse constructed on the Ethereum Blockchain is called Decentraland. Decentraland was created as a kind of entertainment with a currency that is valuable in both the virtual and physical worlds. Users can buy land parcels in Decentraland to build settings, markets, and applications.
Total Supply of MANA- 2,194,350,000
Current Price- $0.37 (88% down from last one Year)
Sandbox (SAND)
The native NFT coin of Sandbox is called SAND, and it can be used to buy virtual world assets like real estate and other gaming things. Coins from the Sandbox NFT can also be utilised as DAO governance stakes. Outside of the Sandbox virtual environment, SAND can be exchanged for other tokens and fiat money on exchanges. The SAND utility NFT currency serves as the basis for all interactions and transactions within the Sandbox ecosystem.
Players can purchase virtual plots of land in a virtual world in the blockchain-based Play-to-Earn game The Sandbox and construct gameplay interactions on top of them to work together and communicate with other players. A metaverse is the name given to this virtual environment.
Total Supply of SAND- 3,000,000,000
Current Price- $0.54 (89% down from last one Year)
Axie Infinity (AXS)
Axie Infinity is a blockchain-based game featuring elements of Pokemon that is enhanced with rare characters, a distinctive theme, and unique gaming assets. The basis of Axie Infinity is the Ethereum blockchain. Axies are the name given to the digital progeny that players create and raise. AXS are won through competition between players. Since each Axie has a distinct genetic characteristic, the traits of the AXS are passed on to the kids they raise.
Total Supply of AXS- 270,000,000
Current Price- $7.37 (92% down from last one Year)
Theta Network (THETA)
The governance token for the Theta protocol is the Theta NFT crypto coin (THETA). THETA is staked as a Validator or Guardian node, helping to support the Network’s protocol governance and block production. Theta Network NFT cryptocurrency (THETA) can be exchanged outside of the ecosystem on websites like CoinEx, Binance, and Bitmart. On any PC, mobile, Smart TV, or IoT device, theta infrastructure rewards end users for sharing their storage and/or bandwidth while helping established video and media companies to generate more money and cut content delivery CDN costs.
Total Supply of THETA- 1,000,000,000
Current Price- $0.8 (79% down from last one Year)
Enjin Coin (ENJ)
Enjin Coin (ENJ) is an Ethereum-based cryptocurrency used to back the value of next-gen fungibles and NFTs. The ENJ stored within NFTs proves their origin and guarantees their compatibility with the Enjin ecosystem.
Total Supply of ENJ- 1,000,000,000
Current Price- $0.8 (79% down from last one Year)
Some of the other tokens in this category include FLOW, Chiliz, Tezos, WAX, etc.