2021 is a year of transitioning to NFTs or Non-fungible tokens. NFTs are unique digital assets that upholds attributes of being non-replicable in nature. Fusion of art and technology, the NFTs are gaining the spotlight. While their numbers are still comparatively small, engagement and interest seem to be multiplying. This implies that this sector has a massive growth opportunities. Further, NFTs are a distinguished class of cryptocurrency tokens. Unlike Bitcoin, they describe different types of assets that vary in value from one another. Here we present 10 NFT projects to invest in 2021.
Decentraland is a decentralized virtual world that enables users to employ customized avatars, trade collectibles, and join in the virtual world’s governance process. To utilize Decentraland, users have to first connect to a web browser with their crypto wallet. Users can then choose and customize their avatar, and they receive a virtual passport for each avatar, representing its identity in Decentraland. Then, they can commence creating their neighborhoods and can buy rare digital assets. Participation in Decentraland needs both fungible and non-fungible tokens. MANA is the digital currency employed in the Decentraland marketplace. The MANA token is interchangeable with another MANA token and is therefore fungible. At the press time, it was trading at $0.4602. It has been up by 86% in the last seven days.
Founded in January 2020 by Alexander Salnikov and Alexei Falin, Rarible is a prominent NFT marketplace. It enables users to mint, purchase, and sell their rare digital collectibles. Moreover, Rarible supports various digital collectibles and products. It involves digital art, domain names, DeFi insurance policies, memes, and metaverses. To mint the digital collectibles, users have to start uploading collectibles in any digital form (graphic, audio,etc.), accompanied by attaching descriptions and pricing details. Following this, users have to connect with their Ethereum wallet to support minting transactions.
Rarible achieved extensive demand among the crypto community owing to its governance token, RARI. While the current hype encompassing governance tokens derives from the DeFi sphere, Rarible was the first NFT protocol to launch its governance token. The launch of RARI is the first step to Rarible’s ultimate goal. It intends to develop the Rarible decentralized autonomous organization. However, RARI is recently trading at $28.56. It has a market cap of $ 704.55 million.
Sandbox is a community-driven platform where creators can monetize voxel assets and gaming experiences on the blockchain. The NFT protocol permits players to develop a virtual world and works of art. The SandBox also offers SAND (ERC-20) token and ERC-1155 tokens: LAND and FUND. Moreover, SandBox attempts to provide an immersive metaverse exposure to gaming enthusiasts to produce games and generate virtual worlds. Notwithstanding its entry into the crypto space currently, the SandBox is the 7th valuable NFT protocol with a current ATH volume of $5 million.
Chiliz is a sports tokenization platform that has currently funded $50 million in its US expansion. Over the past year, Chiliz has collaborated with various household names like Juventus, FC Barcelona, Paris Saint-Germain, UFC, and many others. Recently, Coincheck listed Chiliz and Socios’ non-fungible tokens, or NFT, on Coincheck’s NFT marketplace. As a component of the initiative, Chiliz and Socios will be offering fan token holders with NFTs. At the press time, CHZ is trading at approximately $0.1414.
The Flow blockchain, which hosts the record-breaking NFT project NBA Top Shot, also sees its native token grow. FLOW’s price has surpassed $33.53 today and is up by 62.50%. NBA Top Shot is a combination of NFT collectibles that include several highlights of basketball matches. Moreover, they noticed a record trading volume of over $248 million over the past 30 days. Top Shots’ sales have grown by more than 434% during this period, with over 87,000 users conducting 1.26 million transactions—all on the Flow blockchain.
Enjin is a store of value tokens that switches to non-fungible tokens (NFTs) when generated by users in the Enjin gaming and app ecosystem. According to the company, those NFTs can be traded, swapped, and integrated cross-platform with the potential to develop entirely new in-app economies. Enjin, the company behind ENJ, joined the Japanese market in 2019, collaborating with Tokyo-based blockchain accelerator HashPort that attempted to introduce Enjin’s platform to its games market. It is currently trading at $1.61.
SuperFarm ($SUPER) is a cross-chain DeFi platform directed at facilitating developing non-fungible tokens (NFT) while providing them with the capacity to attach value to their tokens. It has its own NFT marketplace, which creators avail benefit from. The protocol makes the user’s whole blockchain journey easier. The way SuperFarm summarises the process of tokenization is via a range of visual, beginner-friendly tools. SuperFarm’s native utility token is $SUPER. Moreover, it acts as a medium of exchange or to pay for governance and transaction fees. SUPER also provides its holders access to products and programs accessible in SuperFarm’s gaming ecosystem, video game partners, and NFT drops. It is currently trading at $1.24.
NFTX is a community-owned and led protocol for NFT index funds on Ethereum. The NFTX index funds are ERC20 tokens supported by NFT collectibles. Moreover, NFTX token holders ultimately govern the protocol.
NFTX was launched in January 2021 by developer Alex Gausman to build NFT index funds or ERC-20 tokens. The project came into existence to reduce the knowledge barrier to NFT funding and discuss the lack of liquidity and transparency in the space. NFTX provides the NFT ecosystem access to DeFI’s recent discoveries in terms of liquidity. NFTX index funds provide a balanced NFT exposure to inexperienced investors while concurrently turning NFT assets more liquid.
Falcon Project is an unprecedented crypto platform developed on two blockchains to provide users three substitutable and similar products: FNT token (ERC-20 token), FNC (a private coin), and high-yield NFT (ERC-1155) vouchers and commemorative cards. The project includes NFTs as Proof of Ownership to decrease the requirement to have loads of paper certificates or space-consuming apps in phones as documentary proof. The project provides NFT certificates, which users can prove ownership of any collectible they might hold. In essence, the Falcon Project leverages blockchain technology to prove ownership of physical assets via NFTs, which substitute cumbersome paper documents and certificates.
One of the projects to attract various fans happens to be Axie Infinity. It is a blockchain-based trading and battling game inspired by games such as Pokémon and Tamagotchi. In the game, players accumulate, breed, raise, battle, and trade token-based creatures identified as Axies. Axie Infinity is a non-fungible token (NFT) game where users trade collectibles designed after the amphibian axolotl. In enhancement to NFTs, the platform also has a governance token, AXS. Moreover, Axie Infinity has drawn the attention of giants like Ubisoft and Binance.
Conclusively, these are the top ten NFT projects one can invest in. Non-fungible tokens possess a tremendous potential to transform digital exclusivity and provide new meaning to digital property rights. Today, even celebrities have started colluding with NFT projects, with some are keen creating their own NFTs, which their fans can collect. In 2021, we anticipate witnessing NFT growth with more extensive integration with DeFi, thus making the NFTs to make them more liquid and valuable.
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