Non-Fungible Tokens have been around for a longer period than most people think. Although Covid has taken too much from us – the only good thing that happened during it was the explosion of NFTs. If you do not know, a Non-Fungible Token is an ownership proof of unique digital art or any other kinds of collectibles. This token is created and stored on a blockchain, such as Ethereum. With the introduction of NFTs, people found a new way to collect and invest in digital assets. However, even though we see millions in daily NFT transactions, most people are still not aware of the different types of NFTs. To some, they are just digital art, and to others, they might just be memes. In this guide, we will dive into all kinds of NFTs you can collect, so let’s get going.
Before we begin, it is crucial to point out there are no hard and fast rules regarding the following categories of Non-Fungible Tokens. We have tried to make the process convenient for you – hope you enjoy the read and learn something new from it. Also, buy Bitcoin, Ethereum, or any other cryptocurrency. This step is crucial to get ownership of these unique items. After you get ownership of these unique items, you will get the assets in your crypto-based wallet. And you will be free to sell them at a later date.
The reason most newcomers think of only digital art as Non-Fungible Tokens (NFTs) is that this category is dominating the NFTs landscape. You might have heard of the $69 million Beeple’s artwork made, but that is not the only highlight. Cryptokitties were also sold in the market as digital work and made millions. NFTs and blockchains have provided creators with a secure and profitable network to promote their work and keep their copyrights safe. These digital items are not real – in a physical sense – yet this asset is much more profitable. If you are interested in digital artworks, you might want to check out our collection as well.
Nonetheless, there are different types of NFTs – and you can choose whatever tickles your fancy. This blockchain network of NFTs and other digital work, including art, has penetrated each aspect of our digital lives. Keep reading; we are sure some of these collectibles will surprise you.
These projects are relatively new, even by the standards of NFTs – but they have gained serious traction recently. You might want to look at our guide explaining Metaverse to learn about it in detail. However, to give an overview, an example of such a project is the sale of virtual land. You heard it right; virtual land is being sold for millions. Even though you do not get real (physical) ownership when you buy these assets, they are still making waves in cryptocurrency-based marketplaces. According to data by DappRadar, gaming platform Sandbox and Decentraland are currently dominating this field of NFTs.
The best part of blockchain technology, such as Ethereum, is that it has not only given rise to cryptocurrency but many other things as well. For instance, Bitcoin and Ethereum are just one aspect. But NFTs, which include unique digital assets, such as Metaverse tokens, is another aspect.
As discussed, there are different types of NFTs, but this is probably the one that will resonate the most with our younger audiences. The most popular example is Axie Infinity, in which you can not only collect and trade but battle your blob-shaped Axies. To get your first Axie, you need to make an account on the Axie Infinity Marketplace and then buy one you like with cryptocurrency. CryptoKitties is also mentioned above, but it is an Ethereum blockchain-based game. You can purchase and breed these unique virtual cats and then put them on sale as well.
Blockchain technology has not only given rise to digital art NFTs. The market for other unique assets has also gotten better because of it. Moreover, you can collect rare Trading Cards as well. Did you think the era of Pokémon or some other trading cards was over? Well, it might be in the traditional sense. But it is getting popular day by day in the form of Non-Fungible Tokens.
Sure, you can save that great moment from the basketball game on your device. But can you own it? Well, here is some news for you; you can. Sports moments are eternal; this is why we have different types of NFTs rather than categorizing them all in one. Seeing a live game is memorable, but the only way to truly make it yours is to own it as an NFT. For instance, you can buy official top NBA moments from NBA Top Shots Marketplace. Also, if you want to learn about these marketplaces, you can check our guide on them. The best part is that blockchain technology confirms that no one can replicate the original work and collectibles. When users buy an NFT, they can rest easy knowing they have the original collectibles.
Obviously, nothing can top this category. Memes are our livelihood, and there is nothing else, not even Beeple’s famous artwork or even Mona Lisa, that comes close. Maybe memes spawned off them do, right? You might remember the Doge Meme, which got its cryptocurrency as well, sold for $4 million. And it is not even a rare example; Nyan Cat and Disaster Girl were also sold for fortunes. The best part is that, in most cases, the seller is the actual person in the meme.
In essence, these are apparel that cannot be worn but can set you back millions. If you are wondering who would buy them? Well, it is not just about the crypto fashion – it is about the whole package. Some popular virtual fashion apparel can be worn in some games as sleeves or on social media in the form of filters. Even major brands are launching their NFT lines, and it seems like the list of different types of NFTs is not stopping anytime soon.
If you have ever created a website, you would know that you need a middleman to manage your domain name. Fortunately, this NFT explosion on the blockchain has penetrated this aspect of the digital world as well. You will now be able to own a domain name as a Non-Fungible Token and cut out the third party. The neatest part is that you would not have to worry about losing the ownership of this asset. When you buy the domain name Non-Fungible Token using a crypto-based transaction, it is yours to keep forever. Unless you put it on sale to get some profit.
Of course, not – as discussed, the list of different types of NFTs will keep on growing with time. And even we have not discussed all of them, we have barely scratched the surface. Blockchain technology has given an immense boost to NFTs; that is why they keep growing. But we are hopeful that this article has given you an idea about the different types of NFTs you can find on the marketplaces. Also, you should know that these NFTs and digital items are mostly sold in Ethereum and other cryptocurrencies. As the number of days pass, their price keeps on increasing.
However, the neat part is that if you buy these assets, using crypto such as Ethereum, you get the token in your wallet. And you can sell it any time you wish. Even though you buy these crypto-based assets, you should know they are safe. The protocols including the ERC ones such as ERC-20 regulate the transactions.
May it be the video or the image sales of the NFTs, we will keep you covered with the latest information in the NFT world. Stay tuned if you want more help regarding NFTs!
If the “Different Types of NFTs” article has helped you, Like and Share it with your friends!
