In 2021, we saw explosive growth in the NFT market. But in addition to NFTs themselves, NFT-related cryptocurrencies have also posted significant gains. In this article, we'll tell you what NFT crypto coins are, how they differ from non-fungible tokens, and list the most well-known NFT cryptocurrencies out there.
What is a non-fungible token?
Non-fungible tokens (NFT) are unique digital assets stored on a blockchain, each of which is one of a kind and represents a real-world or digital object, such as a digital image, video, real estate, etc. NFTs are used as digital certificates, authenticating the objects they represent and assigning a specific set of rights in respect of those objects to the owners of the NFTs in question. You can read more about NFTs in one of our previous articles.
What is a whitelist in NFT terminology?
Because of the hype around NFT, new NFT projects tend to stir up a lot of excitement around themselves. As a result, there are too many people who want to buy the tokens before anyone else, and the number of tokens is limited. To solve this problem, NFT whitelists are used. The NFT whitelist is a list of users who get priority access to buy new tokens, participate in airdrops, and other benefits. To get whitelisted, you need to meet certain criteria, which you can find out about from the team of this NFT project, usually by joining their Discord group.
What are NFT cryptocurrencies?
Although NFT and cryptocurrencies are based on the same blockchain technology, they have some major differences. What does the term "NFT cryptocurrencies" mean in that case? Typically, the term is used to refer to tokens that, while not being non-fungible tokens, are used by various NFT platforms, most often as governance or utility tokens.
Best NFT coins 2021
NFT-related cryptocurrencies were among the biggest gainers of 2021.
Top NFT coins in 2021
TOP NFT coins 2022
The number of NFT-related blockchain projects with their own cryptocurrencies is relatively high, and new ones are appearing all the time. Here we list the largest NFT crypto tokens by market capitalisation, which many crypto investors have in their portfolios.
Decentraland is a virtual reality platform based on Ethereum blockchain. It's a metaverse designed to connect content creators and consumers, that allows its users to create, experience, and monetise content. The Decentraland universe consists of 90,601 parcels of land, each represented by NFT LAND. Virtual in-game objects are also NFT. The MANA token acts as in-game money for the metaverse. It can be used to buy any in-game assets, such as land, items or services. In addition, the token can be used to vote in the DAO that governs the project.
MANA price statistics (as of 04/04/22)
MANA/USD historical price chart
The Sandbox (SAND)
The Sandbox is a virtual sandbox game metaverse based on the Ethereum blockchain. Its graphics are reminiscent of Minecraft. Users are free to develop a virtual world, create real estate and objects, move around and play games. Both the in-game real estate and player-created assets are NFTs. The SAND token serves as the main utility token of the ecosystem and is used to perform all types of transactions. In addition, SAND is a governance token. On top of that it can also be used for staking.
SAND price statistics (as of 04/04/22)
SAND/USD historical price chart
Axie Infinity (AXS)
Axie Infinity is a popular blockchain game inspired by the hugely successful Pokemon series. The game uses the 'play-to-earn' business model. The gameplay consists of growing, selling and collecting digital creatures called Axies, and battles between them. Each of these creatures has unique characteristics and appearance and is an NFT. Axie Infinity Shards (AXS) token is the governance token for the Axie Infinity ecosystem. In addition, the token is also an in-game resource required to breed Axies. There are also plans to add the option to stake the token in the future.
AXS price statistics (as of 04/04/22)
AXS/USD historical price chart
Theta Network (THETA)
Theta is a decentralised video streaming network that uses the excess bandwidth and computing resources of users to improve video quality. The project addresses the main challenges of the streaming industry: reducing content delivery network (CDN) costs, optimising video streaming in high resolution and bitrate and breaking down the barriers between content creators and end-users. In addition, the developers have launched an NFT marketplace powered by the Theta Network blockchain. THETA is a governance token in the ecosystem.
THETA price statistics (as of 04/04/22)
THETA/USD historical price chart
ApeCoin is the newest token listed here. It was launched on 17 March 2022. ApeCoin was created as a governance token for the APE Ecosystem and will allow its holders to participate in the ApeCoin DAO. APE Ecosystem was inspired by the famous NFT project Bored Ape Yacht Club (BAYC). It is stated that Yuga Labs, the creators of BAYC, will join ApeCoin DAO as a community member and will use APE as the main token in all its future projects.
APE price statistics (as of 04/04/22)
APE/USD historical price chart