Cryptocurrencies are not the only digital asset that has been growing in popularity over the last year. NFT sales have been skyrocketing thanks to renewed interest in blockchain technology. What has made NFTs so popular is their non-fungibility – meaning that the digital assets are unique and can prove ownership. Some people have attributed the rise in NFTs to the recent resurgence of Ethereum (ETH) as NFTs rely on the ETH blockchain. This is however not the case as the market has developed into something far more complex.
Various companies have been formed which use or utilize an ETH or ETH-like blockchain technology coin to operate. And in doing so, they create a token of some value. These are known as NFT coins. They are similar to cryptocurrencies but have their origin in NFTS using the specific coins. We will discuss below the current top 10 NFT coins and what they are about. Please note that any of our suggestions do not amount to financial advice, but reflect our opinion on what the market has shown.
Axie Infinity
Thanks to the creativity of some people, it is now possible to play games and earn money through NFTs. This is sure to evoke strong reactions from a lot of people about how playing games was seen as being worthless.
It turns out that by creating characters in Axie Infinity, they are minted as NFTs which are then used in the game and traded. Production of these characters are limited and are all built using blockchain technology complete with gas fees.
There is also an element of randomness programmed into the generation of the characters making some worth very little and others worth significantly more.
AXS is currently worth $154.23 and has climbed over 11% in the last 7 seven days. It is expected that this price will increase due to the increased interest in the game. This is a coin that should be considered by gamers.
Theta Network
Essentially Theta Network is a network that focuses on decentralizing how videos are delivered online. This enables Theta Network to provide exceptionally good quality streaming at a fraction of the cost compared to the normal service providers that are available. Theta has also incorporated more benefits into their platform with regards to decentralized internet bandwidth and sharing of content.
So, what happens is that people who have spare bandwidth and computer hardware can rent it to Theta for coins. This then enables Theta to provide a decentralized service. It is a very clever concept that has taken the video streaming community by storm.
THETA is currently worth $7.95 at time of writing and has a slightly choppy week. Though it has ended on a positive. It is expected to climb and provide steady growth.
Flow
We talked above about how NFTs are being generated by games – Flow has facilitated the process of this in the NFT space. Flow has been designed specifically with games in mind. They wanted to have blockchain that was directly compatible with games and kept fees low.
And like all blockchains that have a verification process, they have a unique 4 step verification process that enables a more efficient way of processing the data. Making it ideal for games. The first game to come onto the NFT scene was CryptoKitties in 2017. They were almost the proof of concept for today’s games. It was a success. And that success is now continuing with reports that CryptoKitties will be moving over to the Flow network, meaning we can expect a price jump at the time. The current price of a Flow coin is at $13.75.
Decentraland
Decentraland is a virtual concept of what we experience in reality. So, in other words, what is Decentraland is just a virtual real estate platform where people can buy land and play games in the virtual world.
There are two tokens that are required in Decentraland – LAND & MANA. LAND is an NFT used to prove ownership of land while MANA is a crypto that is used to buy LAND and other virtual services.
Decentraland is software that runs on the ETH blockchain – meaning that the virtual land is unique and does hold value to people. It also means that is cannot be copied indiscriminately.
MANA currently holds a value at $2.69 and has not been on the upward trend in the last few days. This would be a good investment for those who like the appeal of owning digital land and see it going up in price in the future.
Enjin Coin
Simply put, Enjin is software that has been designed to help people create goods that are virtual and based on the ETH network. These created goods can then be managed as well. The other purpose of Enjin is that its developers wanted a safer, easier and cheaper way of processing virtual goods using the ETH network.
They wanted to create a platform that could ensure a safer transaction for items sold as NFTs in games. They can be thought of a form of an online security company that ensures no mischief is dealt out with regards to transactions.
The concept of increasing security in NFT spaces will definitely prove popular with future investors and nay sayers of crypto. Their current coin value was $3.20 and has seen rapid growth in the last while. It is expected that over a long period of time that this growth will carry on increasing.
Chiliz
Sports and eSports clubs are always looking for new ways in which they can increase their revenue and communication between their fans. Chiliz has let this become a reality in the NFT space. The Chiliz coin allows players to vote and have a say about what goes on in the club. There are several soccer giants like PSG and Roma that are part of the platform that uses the Chiliz coin.
The results have been astounding, it has been able to unite a global fandom with their favourite clubs. And they have not limited the sports that they relate to.
The current CHZ coin value stands at $0.47. Quite a bit less than its counterparts above it in the NFT coin market. But it is still early days. It is expected that the inclusion of NFTs into sports will bring about a great market that hasn’t been realized yet.
The Sandbox
The Sandbox is a virtual space that allows players, creators and artists to let loose with their creative skills and in virtual land and items. Players can create anything they want in the space and all monetary transactions are based on ETH with their own SAND coin.
It is essentially a game that players can add value to by earning money. If the increasing popularity of games, like Minecraft are increasing, has caught your attention; this might be the coin for you.
The current value is at $2.51 and having achieved a stable rate in the last week. This could be a safer coin with less volatility in it.
ECOMI
ECOMI is a digital space that facilitates the exchange of digital items. It even has a second-hand market that allows people to safely transact their digital items. They are currently working with brands like Batman, Superman the NFL and many more. They may be a niche market for digital versions of small real-world collections, but they are growing quickly.
They also offer a social media section on there platform which allows people to show off their digital assets- making it unique. The current coin price of OMI is $0.0077, which has started to show signs of growth. This coin could be best suited for investors who enjoy small item collections like NFL cards etc. – just digitally.
Audius
It has been a big challenge for many music artists to control the way they can earn money from their own music. Traditionally it has been in the hands of record companies that would profit more than the artists. Audius is changing that. They allow for music artists to take control of their own music. Audius has already signed large names like Deadmau5.
The AUDIO coin is currently sitting at $2.63 with the expectation that it will continue to grow as it is seen by many as the future of the music industry – letting music artist get what they earn.
WAX
Ecommerce has been around for a while now, but its growth has not been stagnant. Wax has introduced the use of its own NFT based coin that will people to purchase goods, earn rewards and earn voting rights for how the platform operates.
The platform has been around for over 3 years already showing proof of concept. If you as an investor believe that this could be the future for ecommerce combined with NFTs, perhaps it is time to join in? The current coin value is at $0.48, but shows signs of a long stable market to come.
Final Thoughts
There should be no doubt in anyone’s minds that NFTs are going to play a bigger role in everyday society. From leisure to the way we transact, they will play a role. The question that remains though, is whether you will join it?
Featured NFT Project
Grumpy Pandaz NFT | 9,999 Pandaz NFT’s That Live in the Metaverse
Grumpy Pandaz is a Collection of 8,888 Adorable Grumpy-looking Pandaz NFT that live in the Metaverse. Distressed by the real world, they chose to move to the Metaverse to experience a better world and they just love it there.
With a community that’s massively growing, and a roadmap that’s has a strong vision for the future, it’s one of the most inspiring NFT projects in development. They have a solid plan for charity, as they are going to invest over $150,000+ to build Schools and Water Wells in Africa in order to support the less fortunate.
With a dream of changing the world, Grumpy Pandaz is a Thriving NFT project with lots of scope and potential.
Get Involved with Grumpy Pandaz by Joining their Discord Channel –https://discord.gg/RseDc7x5
Official-Links
- Discord: https://discord.gg/AsMtM72G
- Instagram: https://www.instagram.com/grumpypandaz/
- Twitter: https://twitter.com/Grumpy_Pandaz
- Website: https://grumpy-pandaz.com/
