What are NFT coins?
With the rapid growth and popularity of NFTs, there are many NFT coins available on the market. NFTs (non-fungible tokens) provide you ownership of any digital artwork, music, videos, collectibles in games, and sports collectibles. Depending on the marketplace, different coins are used on different platforms.
I’ve compiled a list of the top NFT crypto coins.
Market cap: $5.44 billion
At the top of the NFT coins list, there’s the MANA NFT coin. Users can use MANA NFT coins to make payments for purchases on the Decentraland Marketplace. Decentraland is powered by Ethereum, a leading blockchain. This Marketplace offers artworks, social games, apps, 3D art, and challenges. Users can purchase and sell digital game assets such as avatar wearables, land, estates, and more. The Decentraland Marketplace is governed by the DAO, so a smart contract governs the organization. MANA is one of the two NFT crypto coins used on Decentraland. MANA is considered an ERC-20 token which requires it to be burned to acquire the NFT ERC-721 LAND coins.
Market cap: $2.9 billion
Chiliz, an NFT coin designed for sports and entertainment, was first generated in 2018 with 8.8BN. This digital currency is used to purchase Fan Tokens to make payments on Socios.com. These Fan Tokens are utility tokens that can be used to purchase VIP rewards, participate in voting polls, access AR-enabled features, forums, and exclusive promotions. It also enables users to compete in global leaderboards. Socios.com is currently the world’s biggest non-exchange blockchain apps.
CHZ is also listed on Coinbase and Binance, the world’s leading cryptocurrency exchanges. CHZ coins are used by fans that support popular sports teams from around the globe. Chiliz has partnered up with some of the most prominent sporting organizations in the world. Each sporting organization that uses the Chiliz technology only has a limited amount of fan tokens referred to as FTO or Fan Token Offering. Every sporting organization using the Chiliz technology has a limited supply of fan tokens offered at an initial FTO (fan token offering).
The Sandbox (SAND)
Market cap: $2.28 billion
SAND is a utility token that is used to make payments on the blockchain-based Sandbox platform. Sandbox is a virtual world with a “play-to-earn model” where you can be both a gamer and a creator. Users can buy and sell and create and build digital game assets. Users can use NFTs to create digital voxel assets, upload them onto the Marketplace, and use the Game Maker to merge them into the game. They can also purchase land from the virtual Sandbox metaverse to increase its value by populating it with digital assets and games. The SAND coin is also used as the governance of the platform.
Market cap: $1.4 billion
WAXP is the primary token used on WAX. WAX (Worldwide Asset eXchange ecosystem) is a purpose-built NFT blockchain. This means that WAX provides blockchain-based tools for brands to launch an NFT collection, including Marketplaces, dApps, exchanges, and games. WAX is a decentralized network of digital entertainment and games used to create, store, buy, and sell NFTs. WAX prides itself explicitly as a carbon-neutral blockchain.
Market cap: $460.6 million
The Chromia Platform was first launched with 1 billion CHR tokens generated. According to Chromia, they will create no tokens in the future, so this is the limit of the token supply. CHR is the native token of Chromia, which is used between developers, users, and investors on the platform. CHR is also listed on several of the major cryptocurrency exchanges. CHR is used on the Chromia platform for staking on ecosystems and as payment for hosting fees. Chromia is an independent public blockchain focused on games and decentralized social networks.
Are you ready for the NFT revolution?
With so many NFT coins on the market, it’s time to enter the Metaverse and start bidding on some items or auctioning them on various marketplaces. I hope this guide has helped you see which coins work best. Please note that the prices indicated as subject to change.