TOP-10 NFT Ecosystem Tokens
Are you investing in crypto but haven’t tried NFT and collectible tokens yet? There was a 299% increase in NFT investment in 2020 and creators of these tokens make millions in a matter of minutes. Are you impressed? Probably, it is time to learn more about NFT marketplaces and collectibles that can transform minimum investments into real treasures.
Look: this is the top 10 NFT tokens and collectibles worth your attention. Decide which one appeals personally for you.
Table of Contents
What is an NFT token
Non-fungible tokens are a special class of crypto assets that is impossible to exchange with one another or break into smaller values. Their main feature is uniqueness and authenticity, so they become decent examples of precious collections and can’t be duplicated. These tokens are adorned with a variety of details and devoted to different themes. They have already brought unbelievable income to their creators, so it is not surprising that the world’s renowned brands like Nike and Louis Vuitton are working on their own NFTs too.
What is important about NFT collectibles is the possibility to buy them only for tradeable digital assets. Naturally, such interest of investors has attracted more attention to NFTs so a bigger number of people would try to develop and invest in them. If you want to learn about upcoming releases of new NFTs, check the calendar and you will get access to NFT drops announcements collected from all marketplaces.
Best NFT tokens
So what NFT tokens take leading positions in the marketplaces? Look through this top 10 and learn more about each of them from short descriptions.
Enjin Coin (ENJ)
Enjin Coin (ENJ) is an Ethereum based cryptocurrency used to back the value of next-generation blockchain assets. This is a limited valuable resource that prevents inflation and regulates asset creation in the Enjin ecosystem. This token helps to gain consumer trust in new assets created, certify their authenticity and value, adjust assets scarcity by melting them, etc. The token was created by the Enjin company in 2018 which offers users to build their own blockchain projects in a simple manner and integrate them with different tools.
Flow
Flow is a platform for a new generation of games, apps, and the digital assets that power them, while Flow is also the name of the native token used on this blockchain. This token was designed with the goals of earning transaction fees and rewards, though it supports platform and currency staking too. The main characteristics of this token are diverse use cases, broad distribution, and minimal monetary inflation. It also serves as a collateral asset for new token created on the Flow network.
Decentraland (MANA)
Decentraland is the first fully decentralized world controlled via the DAO. This abbreviation stands for Decentralized Autonomous Organization that owns the most important smart contracts and assets making up Decentraland as well as a substantial purse of MANA – native token of the project. This asset is used for purchases in the marketplace, giving grants for development efforts, etc. The main MANA peculiarity is full decentralization since even a private key ‘that controlled its smart contract has been thrown away’ according to the official website.
WAX (WAXP)
The Worldwide Asset eXchange is the world’s leading decentralized video game and entertainment network that delivers the safest and most convenient way of creating, buying, selling, and trading virtual items (NFTs). The WAX token was created with the goal to grow the WAX ecosystem through staking, rewards, and voting.
RedFOX Labs (RFOX)
RedFOX builds companies that promote Access, Adoption, and Application for the Internet Economy, while RFOX powers the entire ecosystem and acts as a form of payment. Its main use areas are trading fees, the development of liquidity pools, and the creation of NFTs. The token was released in October 2020 and is traded on 4 exchanges already.
The Sandbox (SAND)
The Sandbox game that was released back in 2012 has experienced its new lease of life in 2020 being launched on blockchain. It is a virtual world for players to create, own, and monetize their gaming experience in ETH blockchain. The game has its own utility token called SAND and it is used as the basis of all transactions and interactions. The token is listed on many popular exchanges and is also used for staking and governance.
WHALE
Whale is a social currency that is backed by tangible and rare NFT assets while embodying scarcity through definitive limited issuance. Whale holders get a number of benefits including access to channels that offer an array of games, NFT airdrops, WHALE airdrops, networking opportunities, and a line of communication with WhaleShark. It is a back for all assets created by the Vault too.
NFTX
NFTX is a community-owned protocol for NFT index funds on Ethereum. In fact, this is a platform for making ERC20 tokens that are backed by NFT collectibles, and these tokens are called funds characterised by fungibility and composability. Users can trade funds for their collectibles on the platform and the main utility token used there is NFTX. It is a governance token that can be used to vote on proposals and steer the direction of the organization.
SuperFarm (Super)
SuperFarm is a cross-chain DeFi protocol used to deploy crypto and NFT farms without any code required. Super is a project utility token that can be used as a medium of exchange or to pay for governance and transaction fees. Super holders also get access to products and programs that are available in SuperFarm’s gaming ecosystem, video game partners, and NFT drops. Two more possibilities given to Super token holders is voting for decisions and proposals about platform development and making purchases on the platform.
Axie Infinity (AXS)
Axie Infinity is a Pokémon-inspired universe where everyone can earn tokens playing skillfully and making contributions to the ecosystem. This universe has its own Axie Infinity Shards(AXS) token with ERC-20 governance. Holders of this token can get rewards for staking them, playing games, participating in key governance votes. Having been designed in collaboration with Delphi Digital this token has great potential and will soon become the key token of the Community Treasury planned for release.
Conclusion
It is not surprising to see so many tokens developed to support NFTs and there are high chances their number will increase with the growth of NFT popularity as well. Each of these top 10 tokens has already made its contribution to the appearance of new NFT collectibles and their wider acceptance.