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- 1 Non-fungible tokens are distinctive pieces of art, videos or audios which maintain their rarity.
- 2 They can be transferred from one person to another without losing their basic rarity.
NFTs are unique pieces of digital data trackable on smart contract platforms. NFTs exist on a blockchain and can not be replicated. They play a key role in the metaverse economy. Some of the NFT tokens that one can invest to gain the maximum profit are discussed below.
Decentraland
Decentraland is a virtual reality platform which is built on Ethereum blockchain. It uses 2 tokens MANA and LAND. MANA is ERC-20 tokens that must be burned to acquire non-fungible ERC-721 tokens. This platform facilitates buying plots of land that they can navigate, build upon, and monetize.
According to the coin market cap, the market cap of Decentraland is $516,714,440, circulating supply of 1,893, 095, 371 MANA. It has a total supply of 2,193,179,327 MANA.
Sandbox
Sandbox is also a virtual reality platform which permits users to create, build, buy and sell digital assets. It has combined the power of NFTs and decentralized autonomous organizations (DAOs). Its utility token is SAND.
The platform is supported by big names Atari, Helix, and CryptoKitties.
According to Coinmarketcap, the market cap of the Sandbox is $585, 136, 110, circulating supply of 2,064,931,926 SAND. It has a total supply of 3,000,000,000 SAND.
Axie Infinity
Axie Infinity is a blockchain-based trading and battling game that is practically owned and operated by its players. It is inspired by Pokemon which allows players to collect, breed, raise, battle, and trade token-based creatures known as Axies. There are 500 different body parts available, aquatic, beast, bird, plant, bug, and reptile parts.
Each Axie is an NFT with different attributes and strengths that can be entered in 3V3 BATTLES. It has its governance tokens Axie Infinity Shards (Axs). It is used in participating in key governance votes and gives authority over how funds in the Axie Community Treasury are spent.
Tezos
Tezos is a blockchain that provides a more scalable platform for developing apps. It provides high performance and it has low-cost transactions for users in DeFi, NFT, and metaverse ecosystems. It allows easy building of NFT protocols. Its native token XTz helps in achieving the voting rights for the proposals for protocol upgrades. It has a market capitalization of $629,118,343 and a circulating supply of 952,216,903. This blockchain coin has a total supply of 973, 239, 257 XTZ.
Summary
NFT tokens can be more efficiently and easily transferred among people. The ownership also gets transparency due to involvement of the blockchain technology. These are good for maintaining authenticity.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
