Why are NFTs So Popular?


NFTs have gained huge popularity and many people want to learn how to create non-fungible token. NFTs offer limitless opportunities to users; they are a great way to earn a significant amount of money.

How Did NFTs Become So Popular?

In 2017, NFTs became popular with the launch of CryptoKitties- a blockchain-based game. NFTs are not limited to one genre, there are NFT games, NFT music, NFT Real estate, NFT auction portal, NFT art, and so on.

Recently, play-to-earn and move-to-earn NFTs are trending. In play-to-earn, players get NFTs when they play a game and touch milestones. In move-to-earn NFTs, users have to move their bodies, i.e., they have to stay active to earn NFTs; they can walk, dance, etc., to keep themselves fit and healthy.

Why Should You Own NFTs?

The great thing about NFTs is that it is easy to establish that you are the owner as the record of every transaction is kept on the blockchain. NFT owners can program royalties for themselves, which means every time the NFT is resold, the original owner gets a royalty (percentage of the transaction).

Unique Features of NFTs

  • NFT tokens exist on the blockchain; they can’t be deleted, withdrawn, or reproduced.

  • Non-fungible tokens can’t be split into smaller denominations.

  • NFTs can also include smart contracts; when specific conditions are met, they trigger the action.

  • NFTs are scarce.

 

How to Create an NFT Token?

Creating an NFT token is not that difficult. All you need is a crypto wallet, and link your wallet to the NFT marketplace. The blockchain ledger verifies the NFT ownership and identification. Your NFT can be anything- a GIF, MP3, JPG, etc.

Popular NFTs

Some of the popular NFTs are:

Everyday: The first 5000 Days

Everyday: The first 5000 Days was the creation of Beeple and it was sold for a whopping $69.3 million. It’s a collage of 5000 photographs taken every day from 2007 to 2020.

Human One

Human One was created by Beeple and was sold for $28.9 million. It’s a seven-foot-tall life-generating sculpture.

The Merge

The Merge was sold for $91.8 million and was created by an artist that goes by the name Pak. It was auctioned between December 2 and 4 in 2021.

CryptoPunk #5822

A collection of 10,000 tokens makes CryptoPunks. In Feb 2022, it was sold for around $23.7 million, making it the most expensive CryptoPunk.

NFT Coins and Their Market Capitalization

Axe Infinity (AXS)

Axe Infinity is a blockchain-based game that has elements of DeFi, NFT, and gaming. Axies Infinity has a market cap of $8.9 billion dollars, and the price of 1 AXS is $145.70.

Tezos (XTZ)

Tezos cryptocurrency utilizes a proof-of-stake (PoS) system. Tezos market capitalization is $5 billion dollars and 1 XTZ is $5.78 dollars. 

Sandbox (SAND)

Sandbox is an NFT game, where players can interact with other players in the metaverse. It has a market cap of $2.2 billion and the price of 1 SAND is $2.56.

Summing Up

NFTs provide tremendous opportunities for growth, and that’s why no matter the industry, NFTs are leaving footprints. You can create NFT token too and get started on your NFT journey.

 

 

 

 

 

Comments

Post a Comment

Popular posts from this blog

Dynamic NFTs: The Next Generation of NFTs

Image
  NFTs have been one of the most talked-about topics in the blockchain space in recent years. These unique digital assets have been used to represent everything from artwork to music to in-game items. However, traditional NFTs are static, meaning that their properties cannot change over time. This is where dynamic NFTs come in! What are Dynamic NFTs? Dynamic NFTs are a new type of NFT that can change their properties based on external factors. This could include things like time, weather, user behavior, or even the performance of a sports team. There are a number of benefits to using dynamic NFTs. First, they can make NFTs more engaging and interactive. For example, a dynamic NFT could be used to represent a pet that grows and evolves over time. This would give collectors a more rewarding experience than simply owning a static image of a pet. Second, dynamic NFTs can be used to create more personalized experiences. For example, a dynamic NFT could be used to represent a piece of music
Read more

How to build your own NFT marketplace like OpenSea?

Image
  NFT's are the hottest thing in the crypto world. Also known as non-fungible tokens, NFTs are a digital representation of a unique asset. These tokens can represent anything from tickets to artworks or even an investment fund. The list is endless, and they’ve been hailed as the future of tradeable items on the blockchain. The idea is that instead of dealing with one company for a service, you’re dealing with a decentralized market that has different vendors on it. What are the functions of an   NFT Marketplace? In an auction, the creative, rare, and precious collectibles are physically present. The NFT assets, on the other hand, are digitally preserved. Copyright restrictions are applied since the digital assets are practically auctioned. The highest bidders for the collectible/asset obtain the asset ownership. Furthermore, the winning bidder acquires ownership of the digital asset       OpenSea is one of the popular and biggest NFT marketplaces on the market. If you are pla
Read more

How to Create Your Own NFT Marketplace on Avalanche

Image
Introduction The world of digital art and collectibles has evolved with the rise of NFTs (Non-Fungible Tokens). Avalanche, a high-performance blockchain platform, offers a promising environment for NFT marketplaces. This article delves into the step-by-step process of creating your very own NFT marketplace on Avalanche . Whether you're an artist looking to showcase your work or an entrepreneur aiming to tap into the growing NFT market, this guide has you covered. How to Create Your Own NFT Marketplace on Avalanche 1. Understanding the Basics Before diving into the technical aspects, it's crucial to understand the fundamentals of NFTs and how they function on the Avalanche blockchain. NFTs, or Non-Fungible Tokens, are unique digital assets that represent ownership of a specific item or piece of content, such as artwork, music, videos, and more. Unlike cryptocurrencies like Bitcoin or Ethereum, NFTs cannot be exchanged on a one-to-one basis due to their uniqueness. 2. Setting Up
Read more