Last updated on August 9, 2023
- What is the best NFT token list?
- Which NFT tokens to buy?
- Are there any new NFT tokens?
- How high can NFT tokens prices go?
- Which are the most popular NFT tokens?
Our mission here at thoughts.money is to present updated and unbiased information about online trading including Stocks, FX, Crypto, and more. Read on to find answers to popular NFT-related questions and much more.
What you'll learn:
⓵ What Are Non-Fungible Tokens (NFTs)?
NFTs (Non-Fungible Tokens) are nothing more than collectible crypto assets, intended to represent a unique digital item that can be bought, sold, or traded depending on their NFT token price.
If you are an avid gamer, then you are probably familiar with NFT art tokens. Yes, it’s those in-game purchases that any player can buy for use within a virtual world to improve your overall gaming experience. Pretty simple, right?
⓶ Why Has the World Gone Mad Lately with NFTs?
Everyone — and their (barking) dog — seems to be an NFT creator or owner since Facebook announced that they are investing heavily ($10B this year alone) to capture a large portion of the Metaverse opportunity.
What is the metaverse, you might ask? Well, it’s nothing more than a virtual world (remember Sims?) where you can do anything that you would do in the real world. From going to work and earning a living to going to a concert and having fun.
⓷ NFTs: A Whole New World Awaits
Famous brands and artists have already started rolling out products and services dedicated to the Metaverse. From Gucci and Adidas to Snoop Dogg. All this creates a humongous opportunity for investors, traders, and speculators around the world.
How? Well, in order to attend a concert, you need a ticket. To go to the club, you need a fancy dress. To build an office, you need a piece of land. And so, it goes. All these items are essentially NFTs.
So, anybody can invest and be part of the Metaverse by either creating their own NFTs, buying from other people and then selling at a higher price or simply by investing in the companies that are already poised to do well in the Metaverse like Roblox, Unity and Meta.
❖ The Differences between Fungible and Non-Fungible
Before you start searching for the best NBA NFT tokens or the best NFT tokens to buy you need to understand the basics to make well-informed decisions. Here are the major differences between fungible and non-fungible tokens:
|Can be replaced||Unique and cannot be replaced|
|Can be divided into many||Cannot be divided|
|There can be many of the identical one||There can only be one|
❖ Characteristics of Non-Fungible Tokens (NFTs)
Therefore, non-fungible items are:
- Indivisible: You cannot divide an NFT like you can divide a piece of gold for example.
- Scarce: NFTs cannot be multiplied or reproduced.
- Unique: There can only be one unique NFT.
- Transparent: Since the issuance, transfer, or activity of NFTs can be publicly verified, buyers can trust and verify their authenticity.
- Interoperable: You can trade, purchase, or sell NFTs across various Distributed Ledger Technologies (DLTs) using a decentralized bridge or centralized custodial service.
Before searching for free NFT tokens or for ways of creating NFT tokens, you need to understand that every NFT (non-fungible token) is a type of cryptographic token that represents one unique item only. These unique items can be anything — digital or physical — and represent many things including:
- Real estate
- In-game items
- Airplane tickets
- University degrees
NFTs make transactions safer and easier. For example, businesses or individuals can now buy (or sell) items in a marketplace without worrying about its authenticity.
Because each and every NFT has its own unique ID that can be matched and verified publicly. This is very important since it eliminates the risk of fraud automatically.
❖ NFT Token Standards
Before we get into our list of NFT tokens with the best NFT tokens to buy we want to help you understand the standards for non-fungible tokens. You can exchange or trade NFTs across different Distributed Ledger Technologies (DLTs). This makes NFTs interoperable. And you can store them within DLT-agnostic wallet providers to trade them in several open marketplaces where creators — or issuers — are connected to potential buyers. Here are several NFT standards across blockchain networks:
ERC-721 — written in Solidity on the Ethereum blockchain — was originally proposed back in 2017. You can write more predictable and reusable code by using a token standard like ERC-721.
With the ERC-721 token standard you can create unique NFTs for digital collectibles. In addition, ERC-721 provides a mapping of unique identifiers to addresses that verifies the original owner of these identifiers.
ERC-1155 is the improved standard of the ERC-721 token standard. Also, ERC-1155 enables smart contracts to facilitate fungible as well as non-fungible tokens. With ERC-1155, identifiers represent several classes of assets.
Developers can now make massive transfers through the ERC-1155 token standard. This minimizes the impact on the network while making it possible to have reduced transaction fees.
One of the most popular NFT platforms — OpenSea — has recently developed a repository for the ERC-1155 token standard.
◆ Non-Ethereum Standards
Creating NFTs through the Ethereum network is widely accepted. Nevertheless, the high — and rising — gas fees and dull performance have pushed developers to other alternatives that offer:
- Better performance
- Lower fees
- No faulty smart contracts
One example is Hedera which offers a discount of 99%+ when used with the Hedera token service. Developers can mint native NFTs and transfer them in under 3 seconds (lightning-fast) without waiting for block confirmations (finality) for less than $0.001 in HBARs (ultra-cheap).
INFINITE by SUKU migrated from Ethereum to Hedera to create NFTs that are embedded to physical tags in order to verify the authenticity of luxury goods such as rare sneakers.
◆ Incoming NFT Standards: Fractional NFTs
The basic idea behind NFTs was to own something exclusive and proprietary. Something that cannot be reproduced or divided. And there would be only one owner. However, there is a new class of NFTs coming into the market recently that allows everyone to own a fraction of a non-fungible token.
The fractional NFTs are more practical and easier to implement in real-world goods such as art, collectibles, and traditional investments. The Hedera token service allows fractional NFTs where many individuals can be part of.
❖ NFT Applications & Use Cases
A lot of investors want to learn how to buy NFT tokens or even how to make their own NFT tokens because recently NFTs have gained great popularity by the media as more and more companies join the NFT craze.
There are many use cases for NFTs. Here are the most popular ones:
- Social tokens
◆ Physical & Digital Collectibles
CryptoKitties were one of the very first projects that entered the NFT market. Anyone — anywhere — has now access to an entirely new class of collectibles. You can even buy a tokenized version of your favorite sports star, celebrity, stamps, coins, or baseball cards (crazy, right?).
The ERC-1155 standard allows native tokens to be used on Blockchain and DLT gaming platforms such as Fortnite and hence, there is an increasing demand for in-game collectibles.
Many games have now started upgrading their infrastructure to support Distributed Ledger Technologies (DLTs). TopShot, for instance, allows you to buy, sell and pit against each other in virtual matches using digital trading card packs as NFTs.
Players can also buy virtual land through games like Decentraland and The Sandbox. You can also — as a landowner — rent out your virtual plots for in-game advertisers while keeping your complete ownership (just like you can do in real life).
Several other in-game purchases like weapons and skins — and other in-game objects — can become collectibles over time.
◆ Digital or Physical Art
With NFTs you can tokenize, store, and hold a physical item as a crypto asset with the benefit of instant liquidity. There are many platforms — like TOKO by DLA Piper — that make this possible. Art owners can now safely sell their art through Non-Fungible Tokens (NFTs).
And the best part is that the underlying technology (Hedera Token Service) makes all these digital art pieces immutable and thus collectible.
Buyers no longer need to worry about the authenticity of their art pieces as the token representing their art piece is unique and therefore cannot be duplicated or copied in any way. As a result, art forgery will be eliminated by using NFTs.
◆ Social Tokens
With social tokens, fans — and creators — can get together in an open social marketplace like Calaxy. NFTs can be issued by communities (or individuals) to represent ownership. These include community tokens, personal tokens as well as fan and creator tokens.
Any creator can tokenize their time or content. Fans can then purchase these tokens and redeem multiple interactions with creators. Be it time, access to direct messages (DMs), voice calls, the right to vote on big decisions, access to fan clubs, and many more.
Reuben Bramanathan of Coinbase, for instance, tokenized his time so that fans could exchange it for one hour of his time.
◆ Decentralized Domains
Blockchain or decentralized domains is a new asset class of Non-Fungible Tokens (NFTs). If you run a website, you can buy a blockchain domain and use it to receive crypto payments from the public.
These domains are essentially used as payment gateways for other (long) digital wallet addresses that are not as easy to read. You can trade these decentralized domains like any other asset through marketplaces like Unstoppable Domains or Ethereum Name Service.
◆ Identification & Certification
Another important use case for NFTs is that they can contain unique information about a good or an asset. This means they can be programmed for issuing identities, certificates, licenses, or even qualifications.
Since all these NFTs will be issued on the blockchain, anybody can trace them back to the original source and prove its authenticity.
Moreover, NFTs can be used for a patient’s medical history, a client’s personal profile, a student’s education, and many other identity attributes that can be programmed digitally and thus give you complete control over your own data.
❖ The Future of NFTs
If you are a trader or an investor, before you start searching “How to create an NFT token” or even “What is an NFT token?”, you need to understand that the possibilities are never-ending.
Of course, everyone is familiar with the in-game collectibles and the funky digital art. But NFTs have the potential to solve real-world problems by representing property, qualifications, or any asset.
With NFTs you can configure, issue, store, share, buy and sell any physical or digital object — from the comfort of your home.
Investors need to understand that we are still in the early innings of the DLT space and NFTs are in their infancy. Yes, there are some exorbitant NFT prices at the moment. Is it because the concept is new to the market? Maybe. Are these prices justifiable? Maybe.
But the entire blockchain ecosystem is transforming rapidly. From gaming and decentralized finance to fine art and digital identity, the use cases that NFTs enable are limitless. And we are just at the beginning.
⓸ What Are the Top 10 NFT Projects?
If you are looking for NFT art finance tokens to buy, Thoughts.money provides a list with the best NFT tokens for 2023. Here are the top 10 NFT projects:
- NBA Top Shot
- Ethereum Name Services
⓹ Top NFT Tokens to Buy Today
In-game tokens and NFT tokens are two different things that often get mixed up. Let us clear things up for you with a simple example. In the open metaverse — The Sandbox Game — you can create digital assets (NFTs).
However, in order to play all the various games on the Sandbox platform you need the relevant tokens (in-game tokens). So, you can use different in-game tokens to play different games on any platform but the digital assets that you create, buy, or sell are NFTs. Quite simple, right?
If you are searching for examples of NFT tokens or if you are looking for NBA NFT tokens, then consider these:
- Axie Infinity
- The Sandbox
- Theta Network
⓺ The Top 8 Most Popular NFT Tokens
There are many rare NFT tokens with pretty hefty prices. Here are the top 8 NFT art token prices as of the time of writing:
|Top 8 NFT Token||Price||24h Volume||Market Cap|
|Axie Infinity AXS||$48.67||500828863||3499365377|
|The Sandbox SAND||$2.91||0.112||912156428|
|Theta Network THETA||$2.97||141946266||2988641707|
|Enjin Coin ENJ||$1.7||154098416||1598383083|
⓻ 5 All-Time Famous NFT Crypto Coins List
Many traders and investors are looking for NFT NBA tokens or for a GME NFT token. Here are the top 5 coins to watch:
- Axie Infinity
- Enjin Coin
⓼ Top Non-Fungible Token (NFT) Coins by Market Capitalization
NFT token art coins are gaining popularity super-fast. These are the top NFT crypto tokens to buy based on their market cap:
|NFT Coin||Market Cap|
|Axie Infinity||$10 billion|
|Theta Network||$7 billion|
|Enjin Coin||$3 billion|
|The Sandbox||$2 billion|
⓽ Popular NFT Token List by Sales Volume
Anybody can air an NFT token or purchase gaming NFT tokens. Here are the most popular NFTs based on the weekly sales trading volume:
- Axie Infinity: $119m
- The Sandbox: $42m
- Bored Ape Yacht Club: $39m
- CryptoPunks: $34m
- Wizards and Dragons Game: $33m
- Mutant Ape Yacht Club: $16m
- Wolf Game: $13m
- Art Blocks: $11m
- Ape Kids Club: $10m
- Desperate ApeWives: $10m
⓾ Are NFTs Different from Crypto?
Traders usually wonder if there is any difference between NFT tokens and crypto when searching for NFL NFT tokens. The similarities between NFTs and crypto are not that many.
Yes, NFTs are programmed in the same way as crypto — like Bitcoin (BTC) or Ethereum (ETH) — but that’s it. Other than that, NFTs and crypto are very different.
Just like fiat (physical money), crypto is fungible, meaning they can be exchanged. Also, fiat and crypto are always worth the same amount. For example, 1 dollar will always be 1 dollar. And one Bitcoin will always be one Bitcoin.
NFTs are not like that. Every NFT is unique and has a digital signature that makes it impossible to be substituted, replaced, exchanged for another. NFTs are all original and there’s nothing like them — contrary to crypto (or fiat) that are millions of the same coin available.
If, for instance, you have one NBA NFT you simply can’t exchange it with another NBA NFT. Every single one of them is truly unique. This makes it very rare and collectible. And nobody can take that away from you. Once you buy it, you’ll be the sole owner.
⑪ Top 10 NFT Tokens to Watch Today
Here are the top 10 token NFTs to buy today:
- Enjin Coin
⑫ Where to Buy NFTs: Best NFT Marketplaces & What They Sell
There are many NFT token marketplaces where buyers and sellers meet. There are endless possibilities both for creators and potential buyers. Creators can make their own NFTs and put them up for sale. And buyers can search, find, and buy what they like. Here are the top 10 marketplaces to buy the NFT of your choice:
- Myth Market
- Enjin Marketplace
Decentralized finance (DeFi), blockchain and non-fungible tokens (NFTs) were unheard of a few years ago. Today, Bitcoin (BTC) — and other digital coins — are making big waves. And they are here to stay. The good part is that we’re in the early innings so there’s still a great opportunity ahead.