Decentraland’s token is called MANA and is a sidechain of the Ethereum network.
Users can buy plots of land which have sold for as high as $100,000 USD during the NFT fervor last year. Yet another play-to-earn game that dominates the top of the NFT-coin list, Decentraland is very similar in nature to the Sandbox. The entire financial system of the Sandbox is built upon the buying and selling of NFTs, and the team has also created a Sand stake pool as well for those who are looking to grow their investment. The Sandbox is built upon the Ethereum network and is considered a branch of the Metaverse. Within a year the price of Sand rose from $0.02 to over $8.00, although the price has pulled back to about half that price. Sand is the token that is used in-game by players to pay for transactions and interactions with other players. The Sandbox is similar to Roblox but is built entirely on the blockchain and players can earn money by monetizing items, characters, and plots of land. Like Axie Infinity, the Sandbox has stormed into the mainstream crypto discussion this past year. Theta is backed by some heavy hitters including Samsung and Sony, and is advised by executives from Twitch, YouTube, Verizon, and Rakuten. There is also going to be an NFT marketplace where Theta’s video content creators can share NFTs with their viewers. As far as NFT projects go, Theta is allowing users to create video NFTs on its blockchain using the solidity compiler, Remix. The purpose of the Theta Network is actually for streaming video content by utilizing spare bandwidth from users, and then rewarding them with its tokens. Theta is one of a growing number of projects that has more than one token associated with it: Theta coin and TFUEL, which is used for executing transactions. The second largest NFT coin by market cap right now is the Theta Network, a project founded back in 2017 by Mitch Liu and Jieyi Long. Axie Infinity is currently the largest GameFi or Pay to Earn blockchain game in the world with over 2 million daily active users. Enter the collectible side of the GameFi universe where purchasing Axies can actually be an investment by players. The game itself sees players collect, breed, and trade creatures called Axies, which also happen to be NFTs. These tokens are currently trading at just over $72 USD per token, with a total supply of 270 million AXS. Players can buy the Ethereum-based tokens called Axie Infinity Shards, which can be purchased on crypto platforms like Binance and. The game itself is a disguise for the staking and liquidity side of decentralized finance or DeFi.
Axie Infinity (AXS)Īxie Infinity flew to mainstream recognition as being one of the first major GameFi titles that allows players to make a legitimate living playing the game. Let's get into the top NFT tokens to watch in 2023. Let’s take a look at the current top 20 NFT tokens by market cap, but remember, crypto market caps change on a daily basis so keep in mind the top 20 today may not be the same list tomorrow. As far as NFT-related crypto tokens, the largest (currently) has a market cap of only $5 billion, and is the 34th largest crypto project by market cap.Ĭonsidering all of the potential uses for NFTs beyond collectibles, many of these top NFT-coins might be worthy of adding to your crypto watchlist. This is what has primarily led NFTs to have so much influence in the collector market: since NFTs are coded into the blockchain they have a legitimate authenticity to them.ĭespite how frequently we see the term NFT being mentioned, the industry is still very much in its infancy. It stands for Non-Fungible Token, which is a complicated way of describing data that is not replicable off of the blockchain. It seems like this little three-letter acronym is everywhere these days, albeit much less than last year, from the crypto investing markets to celebrity product placement.
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