It cannot be that you have never heard of NFTs. Artists sell their paintings in NFT format, musicians release NFT albums, and even Banksy's work "Morons (White)" has become a virtual asset. This is a real paradise for digital art connoisseurs and those who simply like to own unique assets. Unsurprisingly, the popularity of NFTs is only growing. But besides the NFTs themselves, there are NFT coins. Let us figure out what it is and which coins are better to invest in.
A token is each entry in the blockchain. In an open blockchain, all tokens are equal to each other and are interchangeable. This means that you can replace one token with another, and nothing will change. However, the non-fungible token technology works differently. Each non-interchangeable token is unique and cannot be faked, split, or imperceptibly replaced. Such technology is ideally suited to secure your rights to any unique object, whether a work of art in a single copy, an object in a computer game, or even real estate.
When users purchase an NFT token, they acquire a certificate for the work. At the same time, the work itself does not move anywhere. It is located on permanent storage called IPFS, InterPlanetary File system. This certificate represents lines of code confirming that it is the token owner who owns the original copy of the object. The NFT token can be compared to a painting that may belong to a gallery, museum, or private person, but the audience can see it in a catalog or at an exhibition.
You can even create an NFT token yourself. This process is called minting. To do this, you need to take a digital object (a picture, a music track, a photo, etc.), register in a marketplace (for example, on Rarible or OpenSea), and upload an object with a description and price. Most services require paying a commission to create a unique token.
NFT crypto coins are virtual assets created based on an existing platform (not to be confused with a trading platform). They are used to purchase NFTs inside the system itself. To make it easier to understand, let us draw an analogy with a gift certificate to a store. You cannot go to the theater with this certificate, for example. Because it is designed for a specific place and purpose — buying things in a particular store. So are the tokens that are used for certain NFTs.
For example, to buy NFTs on the Ethereum-based OpenSea marketplace, you will need NFT crypto coins ETH. To buy on Decentraland, you need MANA coins.
Yes, NFT coins are not the same as NFTs. The most important thing here is not to get confused. NFT coins differ from the NFTs themselves by their fungibility. As mentioned above, NFTs reflect ownership of unique assets. However, crypto NFT coins can be exchanged for other NFT coins of the same value, and the economy of certain NFT projects depends on them. In this sense, NFT coin is essentially closer to cryptocurrency and can be traded or invested in.
On the other hand, it is important not to confuse NFTs and cryptocurrencies. NFT has significant differences from cryptocurrencies, and the main one is its non-fungibility. The open blockchain, as in NFT, has tokens representing a record in the blockchain. However, if all tokens can be replaced with each other in an open blockchain, and one user's bitcoin is identical to another's bitcoin, then within the framework of NFT technology, tokens do not have the quality of fungibility. In this case, each non-fungible token can neither be exchanged for another nor copied, pided, or replaced.
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If you are interested in trading or investing in crypto NFT coins, here is a list of top NFT tokens that you should pay attention to first.
Decentraland is a virtual world and community based on blockchain technology. Here, users create NFT lands, estates, and avatars, own and sell them, and participate in the platform’s decentralized autonomous organization (DAO). MANA, Decentraland's own cryptocurrency, and all in-game assets are running on the Ethereum blockchain.
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Orica is designed for novice cryptocurrency users. It is created for those who appreciate creativity and are looking for great art. Orica aims to revolutionize the NFT ecosystem by ensuring that even small ideas can be recognized by many, and everyone who participates will receive royalties from this NFT. Orica is the first marketplace to set such a goal.
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The Sandbox Game is a multiplayer online game using blockchain technology with decentralized finance (DeFi) elements and non–exchangeable tokens (NFT). Sandbox is a whole game metaverse in which players can buy and sell lands, create and sell their assets – NFT tokens, and participate in project management, determining the vector of its further development.
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Tezos is a blockchain project, the distinctive advantage of which is the built-in management mechanisms for updating the network. Changes in the Tezos blockchain are carried out through coded proposals from the owners of a certain number of Tez tokens (XTZ), after which a vote is held in the community. The Tezos protocol has the ability of self-development, so the network is easily updated.
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Theta is a platform for hosting, distributing, and promoting video content. It is built on the blockchain and works on the basis of smart contracts. The main idea of the platform is that the computing power for watching videos is provided not by some centralized platform and its servers (as in the case of YouTube, for example) but by the users themselves. Video platforms that host videos, authors, and users can connect to the Theta Network.
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Axie Infinity is a Pokemon–like crypto game in which participants raise, fight and exchange cute NFT pets called Axies. The game has two cryptocurrencies: Axie Infinity Shards (AXS), which can be bought and sold on cryptocurrency exchanges, and Smooth Love Potion (SLP), which is credited to players for the time spent in the game. AXS owners can be rewarded for placing their tokens, playing, and voting on key management issues.
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Understanding the NFT market is not an easy task. However, learning the basic differences between different types of crypto assets will help you reduce risks and make the right decisions in this volatile ecosystem. Therefore, always be careful and cautious, and approach the choice of an asset for investment only after deep research.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
1 | BTC | Bitcoin predictions | 89.2% | 17 | $66 883.38 | 1.93% | 9.82% | $1 317 592 879 986 | ||
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2 | ETH | Ethereum predictions | 85.6% | 20 | $3 099.26 | 5.28% | 6.21% | $372 289 746 947 | ||
3 | USDT | Tether predictions | 96% | 1 | $1.000445 | 0.04% | 0.07% | $111 384 906 668 | ||
4 | BNB | Binance Coin predictions | 90.4% | 13 | $580.73 | 1.80% | -0.73% | $85 708 282 896 | ||
5 | SOL | Solana predictions | 81.6% | 37 | $172.71 | 5.61% | 18.88% | $77 512 358 873 | ||
6 | USDC | USD Coin predictions | 91.6% | 1 | $1.000055 | 0.02% | 0.01% | $33 433 494 716 | ||
7 | XRP | XRP predictions | 88.4% | 12 | $0.523443 | 1.38% | 3.68% | $28 940 589 052 | ||
8 | DOGE | Dogecoin predictions | 80% | 32 | $0.154651 | 2.99% | 7.12% | $22 321 793 294 | ||
9 | TON | Toncoin predictions | 67.2% | 67 | $6.42 | -3.60% | -7.40% | $22 317 928 096 | ||
10 | ADA | Cardano predictions | 84.4% | 23 | $0.483023 | 4.10% | 8.17% | $17 232 037 643 | ||
11 | SHIB | SHIBA INU predictions | 77.2% | 42 | $0.000025 | 1.93% | 10.02% | $14 626 352 554 | ||
12 | AVAX | Avalanche predictions | 82.8% | 35 | $37.24 | 6.72% | 10.79% | $14 244 757 890 | ||
13 | TRX | TRON predictions | 82.4% | 34 | $0.124371 | 0.17% | -1.76% | $10 876 019 587 | ||
14 | WTRX | Wrapped TRON predictions | 79.6% | 34 | $0.124346 | -0.16% | -2.04% | $10 873 816 642 | ||
15 | WBTC | Wrapped Bitcoin predictions | 87.6% | 17 | $66 888.83 | 1.97% | 9.93% | $10 400 984 474 |
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