Recently, NFTs have been at the heart of many discussions, especially in the field of art. But what is an NFT ? NFT means non-fungible token. A non-fungible item is a single item that is not interchangeable. For example, money is fungible, one can exchange dollars or cryptocurrencies , but a work of art is non-fungible, because it is unique.
- What is an NFT used for ?
- The purpose of NFTs:
- Attract the attention of the general public
- Impact social
- Properties of NFT“>NFT
- Applications of NFT
- NFT Marketplaces
- How Can I Choose NFT Marketplaces?
- Best NFT Marketplaces
- How to Create NFT
- How to Buy and sell NFT
- History of NFTs
- Interest and use of NFTs
- The technology behind NFTs
- The Best NFT Projects Right Now 
- The future of NFT
An NFT refers to a digital file to which a digital certificate of authenticity has been attached. More exactly, the NFT is a cryptographic token stored on a blockchain . The digital file alone is fungible, whether it is a photo, video or otherwise, the associated NFT is non-fungible. The first NFT was created in 2014, but NFTs didn’t really hit the mainstream until 2017, when the Ethereum platform gained momentum. It is on this blockchain that the CrytoPunks and CryptoKitties projects (using NFTs) were born. In 2021, the work Everydays – The First 5000 Days, by artist Mike Winkelmann, better known as Beeple, sold for $69.3 million. It is to date the most expensive piece of digital art in history.
What is an NFT used for?
An NFT makes a digital file unique. In fact, when you buy an NFT you buy exclusive ownership of the original work included in this NFT. However, the artist retains his copyright and reproduction rights. The buyer acquires certain rights such as publishing the work online. An NFT can be associated with:
- digital painting;
- a video, such as NBA Top Shot basketball videos ;
- A meme;
- a photograph ;
- a collector’s item, a card for example;
- a video game element (avatars, skins), such as those of Cryptokitties ;
- a ticket for an event, such as a concert;
- a movie ;
- a patent ;
- a virtual object that can be used in a virtual world with a virtual reality headset , such as a pair of designer shoes;
- an audio file, or even a whole musical album like ” When you see yourself ” by the group King of Leon.
For an artist, an NFT makes it possible to sell a digital file as he would sell a physical work . For a buyer, the NFT makes it possible to support an artist, to collect digital works of art and to speculate on these works.
The purpose of NFTs
The goal: to develop a new monetary system that is not in the hands of a few who make decisions behind closed doors, but rather a system that works as a whole for all who are invested and a system that can be clearly control. The first big blockchain innovation was bitcoin. Which was also the first world currency, a global currency that can be exchanged easily between countries and without exchange rates. This becomes incredibly significant as we become a globalized society. Obtaining a cryptocurrency works the same way as exchanging dollars from your country for a foreign currency. The only difference is that instead of going to a bank,
Attract the attention of the general public:
For those of you who are worried about digital money transfer, it’s worth remembering that traditional banks also store your money digitally and are vulnerable to hacking. Traditional banks have the advantage of being insured. Cryptocurrencies, on the other hand, are significantly safer because they are blockchain-based and every interaction is recorded. This provides more security with less possibility of being hacked, and if a hacker was there, they would be immediately identified.
When Beeple sold his digital artwork “Everydays: The First 5000 Days” for $69 million in collaboration with Christies, NFTs gained popular recognition. For now, NFTs are tied to the art world, but there are several applications for NFTs. Traditionally, a digital work of art (or data) can be duplicated indefinitely, leaving the creator or buyer with no control over the replication and no method to verify the original work. Michael John Peters, a fine art professional for over a decade, describes the importance of NFTs in the art world: “It’s quite easy to falsify certificates of authenticity or reproduce paintings.”
A painting by Picasso, for example, which featured provenance and authenticity, sold for $2.2 million. Another painting by Picasso of the same size, same composition and same date of sale, but without provenance, sold for only $158,000. NFT provides indestructible proof of ownership and provenance of a work of art, which will be preserved forever. Every work of art, whether digital or tangible, will in the future be associated with an NFT.”
What is truly fascinating is the beneficial impact that NFTs can have on the globe. Jeremy Dela Rosa is the creator of Leyline, a non-profit company that is at the forefront of using NFTs for social purposes. Leyline’s goal is to build a sustainable NFT identity and ecosystem that celebrates, rewards and gamifies social and environmental good. Users of their site can earn collectible NFTs by doing good in the world. Their NFT represents a cause or goal that people work for, a unique moment that makes the world a better place.
The most important thing you would need to understand in terms of the significance and use cases of NFT is an explanation of NFT.
Non-fungible tokens are basically digital assets that feature identifying information documented in smart contracts. The varying NFT use cases evolving in the present times provide clear motivation for learning about them.
NFT or non-fungible tokens are presently the hottest trends in the domain of blockchain and crypto codes. If you dive deeper into the technicalities of enterprise NFT, you will discover that they are basically unique digital codes.
The unique digital codes depend on the same blockchain technology as cryptocurrencies, such as Ethereum.
On the other hand, NFT are unique and give you the privilege of ownership over digital assets. The existence of NFTs on a blockchain is formidable proof of the NFT blockchain interplay.
You should also note that you can buy and sell NFT by using cryptocurrency. Interestingly, you don’t necessarily need a physical asset in the real world associated with the NFT.
On the other hand, NFT types also include representation of physical assets such as artwork, real estate, and even your pet dog.
Properties of NFT
In simple words, NFT are digital tokens on a blockchain network and provide a representation of a unique item. You can find a clear explanation of NFT by taking a look at their important NFT attributes in the following discussion.
The foremost trait on which non fungible tokens rely is uniqueness. The information in the code of NFTs illustrates the properties of the tokens in detail, thereby differentiating them from others. For example, a digital art item could have information about individual pixels in the code of its NFT.
The on-chain documentation of transactions for an NFT includes all details of the NFTs. You can easily trace the history of NFT from the time of their creation till the present time.
It is also possible to identify the different times when the non-fungible token changed hands. Therefore, you can easily verify the authenticity of NFTs with the traceability trait.
Another important highlight you will notice in the NFT marketplace would refer to indivisibility. You could not purchase half of the artwork, and the same applies to NFTs.
You cannot transact with NFTs as fractions of a complete NFT as it is impossible to divide NFTs into smaller denominations.
Non fungible tokens also feature scarcity that can improve their attractiveness for buyers. As a result, the assets would be highly desirable alongside ensuring that the supply does not surpass the demand.
The most crucial trait of NFTs that will drive many other NFT use cases in the future is programmability. NFTs feature-complete programmability is similar to traditional digital assets and tokens on smart contract blockchains.
Users can add features in their NFTs according to their preferences. After all, NFTs are basically pieces of code, and you can add anything to the code. These advantages of NFT makes this technology even more lucrative.
Applications of NFT
The most significant aspect in any discussion about non fungible tokens would be the potential of NFT.
Many people ward off NFT as a technological fad for the rich people who can invest thousands of dollars in purchasing NFTs and trading them.
However, NFT is more than just Cryptopunks and the NFT of Jack Dorsey’s first tweet. Let us take a look at some of the potential future applications of NFT.
NFT can serve a vital role in changing how you visit museums, galleries, and landmarks. You can think of ways in which NFTs can be used to verify the authenticity of guests at such events and places.
In addition, such NFT use cases would also present favorable benefits for attendees. For example, they could receive exclusive benefits and better access to drops.
NFT could also find promising use cases in the domain of marketing. Taco Bell has been one of the frontrunners in using non fungible tokens for marketing purposes.
It listed the Live Mas taco-themed NFTs on the renowned NFT marketplace, Rarible. Interestingly, the set of 25 NFT sold out within 30 minutes. Taco Bell allocated a specific reward for the original owners of the NFTs with an exclusive $500 digital gift card.
While virtual real estate has been gaining a lot of attention in recent times, the potential NFT use cases for physical real estate also appear endless.
Using NFTs could support the development of new avenues for property ownership with trustless property titles. NFTs can also solve the setbacks associated with property transfer in traditional real estate.
For example, a European startup, Propy, offers a transaction platform for NFTs bearing access to paperwork for ownership transfer.
The use of NFT in gaming has also been one of the prominent highlights of the NFT ecosystem. While online games have items that you can buy and sell for money, the items are under the control of the centralized game server.
However, the introduction of play-to-earn games has transformed the concept of gaming.
Players can participate in the NFT games to earn items, which they can sell on marketplaces at higher prices. Axie Infinity is a glaring example of using NFTs in a game.
Another important entry among NFT use cases that you should not miss is sports NFTs. Sports collectibles fit naturally with the use cases of NFTs, and NBA Top Shot has developed on the same foundation.
The platform allows users to collect officially licensed video highlights as NFT.
NFTs are a stepping stone for the development of digital arts. With NFT, artists can create programmable arts.
Creators can program their art pieces to change or act differently based on certain conditions. The buyer can verify the authenticity of a digital art before buying it.
Creative theft is a major issue, and digital artists can fight against this issue by using NFTs to present their work.
Crypto-art and new economy?
John Karp believes that the NFT will usher in a new golden age for artistic creation. ” The NFTs firstly allow more and more creators to make a living from their art. The main reason is that the number of collectors has multiplied “, explains the specialist. This new economy has been named crypto-art. It is defined as the alliance between the technologies offered by cryptocurrencies and art.
For the author of “NFT revolution”, crypto-art offers the possibility for artists to get out of addiction to online music platforms. ” The fact that artists receive a tiny fraction of the revenue generated by listening to their works on streaming platforms is an inconsistency. The Internet creates a direct relationship between artists and their community, so there is normally no longer a need of intermediaries. NFTs make it possible to find this direct relationship”, affirms John Karp.
It is the possibility of creating an economy within the economy that is offered by the NFT.John Karp, author of “NFT revolution, birth of the Crypto-Art movement”
The crypto-art movement is therefore beginning to ” find its marks and invent new processes “, according to the author. ” The NFT materializes in many ways and its possibilities are limitless. The NFT is a title of ownership but it can also contain in addition, a title of use or access, associated with the actions of the artist. ” And John Karp gives examples: ” Booba made 25,000 NFTs last week which allow access to the associated video. The Kings of Leon group went further: with their NFTs you can access all their concerts. “The author of “NFT revolution” believes that a real economic revolution is coming with the NFT. ” An NFT giving access to the backstage (behind the scenes, editor’s note) could for example be resold later by its owner. This is the possibility of creating an economy in the economy which is offered by this technology “, concludes- he.
The Fashion industry can utilize use cases of NFTs to facilitate their product provenance process. There is a persistent duplication issue with luxury items, and many users buying from a third-party seller don’t have any way of knowing whether the product is authentic or not. NFT can help to reduce the counterfeiting issues by offering solid proof of authenticity to the buyers.
Fashion companies can also offer tokens for the bought goods which can be sold on NFT marketplaces.
Certifications and Licenses
NFTs can help companies verify certifications and licenses using blockchain technology.
Tokenizing institutional certifications or educational degrees can help public or private companies verify the documentation before hiring an employee.
Other licenses like business licenses, gun licenses, driving licenses, etc., can also be tokenized and brought under the radar of blockchain.
Musicians or entertainers can tokenize their content using NFT. Musicians can distribute their music with full rights to their creations.
Creating a transparent system for the royalties will still require the help of media platforms and music labels.
Entertainers can also auction their work to fans creating more fan engagement without needing any third party. This will help small-time artists to be finally recognized and have a good source of income.
Ethereum Name Service and Domain Name
Domain names are a great example of NFT use cases. Domain names are unique in nature, and tokenizing them will increase their liquidity.
Unstoppable domains or Ethereum Name Service (ENS) offers blockchain-based domains, and these are available as NFTs.
Blockchain domains can help companies enter the blockchain ecosystem and get access to the benefits. In NFT marketplaces, users can also trade their domain names, which creates more liquidity for this niche.
It is also important to know how to access, use and manage your NFTs. How can you do that? The answer would take you towards the next chapter of this eBook, focused on NFT marketplaces and wallets.
Now that you know about NFTs and why they are in the rage right now, it is quite reasonable to harbor intentions about participating in the NFT space.
What is the best answer for you to capitalize on the immense potential associated with NFTs? This is where you would need an NFT marketplace.
The basic purpose of NFT marketplaces is to provide a gateway for users to purchase and sell the new category of digital assets.
How Can I Choose NFT Marketplaces?
When you want to find out how to use NFTs, the choice of an NFT marketplace becomes an imperative requirement. Non fungible token provides representation for ownership of an asset.
You can decide on the type of digital asset you want to purchase, sell or create, and this is quite critical before you choose a specific marketplace.
You can tokenize anything digital, starting from collector’s items to written documents on a blockchain. Therefore, you should narrow down your interest in NFTs to the ideal marketplace for accessing non fungible tokens.
You can also define the selection of the marketplace on the basis of supported NFT types.
With all these considerations in the right place, you can easily move to the next step of creating your account on the NFT marketplace. However, you would come across the need for a blockchain wallet in order to participate in the activities on the marketplace.
If you want to buy some NFTs on a marketplace, you need the required crypto or tokens for the same.
Similarly, you would also receive payments in crypto or other tokens for selling NFTs on the marketplaces. In both cases, you can clearly notice the need for a wallet to store the crypto and tokens required for NFT transactions.
Just link your wallet with the NFT marketplace, and you are ready to enter the vast world of NFTs.
Best NFT Marketplaces
While we are discussing NFT marketplaces, it is imperative to bring the top marketplaces into the equation. Let us take a look at the top NFT marketplaces in the market right now.
The topper in NFT sales right now is OpenSea. It has a wide assortment of digital assets on the platform, which offers a free signup facility.
The platform also supports creators and artists with an easy process for creating NFTs or NFT minting. An interesting term indeed, isn’t it?
We will discuss it in the next chapter! As of now, OpenSea supports over 150 unique payment tokens and serves as a great place for NFT beginners.
The next important addition among NFT marketplaces would be Rarible. It offers a massive marketplace for different types of NFTs, with promising similarities to OpenSea. Rarible is a credible platform for selling, purchasing, and creating art, collectibles, music, and videos on the platform.
However, you have to use the native token of Rarible, RARI, for purchasing and selling on the marketplace. The collaboration of Rarible with notable names such as Adobe and Taco Bell speaks a lot for its credibility as an NFT marketplace.
Another favorable choice of an NFT marketplace would include Nifty Gateway. Here, users can buy and sell music, sports cards, game items, etc. This marketplace collaborates with various top artists and offers limited edition NFTs.
Nifty supports MetaMask wallet, and the user will need to pay via their debit or credit card or via Ethereum. The platform also offers commissions to the creators.
Best NFT Wallets
After learning about the top NFT marketplaces that can help you enter the world of NFTs, it is also important to find the best choices of wallets that you can use for storing your NFTs. The best NFT wallets right now would bring the following names to mind.
Trust wallet is one of the most secured crypto wallets that offers to buy, store, exchange, and earn cryptocurrencies. At this moment, this wallet supports more than 40 blockchain platforms and 160k+ digital assets. It also supports storing ERC-721 and ERC-1155 tokens. Users can use Trust wallet in OpenSea and Rarible marketplaces.
The all-around wallet for anything related to Ethereum is Metamask. It allows storage of ETH tokens, ERC-721, and ERC-20 tokens. The foremost advantage of Metamask points to the ease of interfacing with popular NFT marketplaces such as Rarible and OpenSea.
How to create, Buy and sell NFT
How to Create NFT
The first thing you need to note about creating an NFT is that it is a simple and straightforward process. The creator should choose the blockchain they want for issuing their NFTs.
One of the obvious choices for minting NFTs right now is Ethereum, especially for its popularity. In addition, many other blockchain networks are also offering reliable prospects for creating NFTs.
For example, Binance Smart Chain, Cosmos, Tron, Polkadot, and Tezos are some blockchain networks that have been gaining momentum in the NFT market recently.
All the blockchain networks for creating NFTs have their own token standards, marketplaces, and wallet services. You would need the following things to create NFTs or the NFT minting procedure:
- Ethereum wallet with ERC-721 compatibilities such as Enjin, Coinbase Wallet, or Metamask.
- ETH tokens worth almost $50-$100 that you can purchase from exchanges such as Coinbase in exchange for fiat currency.
- The next thing you need for creating the NFT is a marketplace.
Wait, haven’t we been through this marketplace and wallets thing before? The thing is, we didn’t reflect on how to use the NFT marketplace or wallets we discussed in previous chapters. Let us assume that you want to create an NFT art.
You can find many marketplaces that help you connect your wallets and upload the images you want to convert to NFTs.
The notable NFT marketplaces, as we discussed before, such as OpenSea and Rarible, are great picks for creating NFTs.
You can discover a “create” button dedicated to NFT minting on these marketplaces, thereby making your work easier.
Here is an example of the steps you need to follow on OpenSea for creating NFT art.
- Click on the “create” button in the upper-right corner of the OpenSea application.
- You would have to connect to an Ethereum-based wallet with the prompt on the next screen.
- Enter the wallet password and connect to the NFT marketplace.
- Just hover over the “create” button and find “my collections.”
- After clicking on the “my collections”, you have to tap the blue “create” button.
- Then, you can upload the image and add your name alongside writing a description.
- Assign an image for your collection, which would be visible on the left side of the screen. Add a banner image by choosing the pencil icon available on the top right.
- You are ready to create an NFT now by just clicking on “Add New Item” alongside signing a message with the wallet. Then, you will find a new window for uploading the image to convert it to an NFT.
- Once you are done, just click on “create” at the bottom of the page, and you can complete the NFT minting process.
How to Buy and sell NFT
With the new knowledge you acquired about creating NFT tokens, you would look for information on how to buy and sell NFTs.
You can purchase NFTs on marketplaces with crypto tokens or fiat currency, as in auctions. After purchasing an NFT, you have the final word about selling or holding to the NFT. You can sell an NFT by listing the token on a specific marketplace.
Just click on the NFT you want to sell in your collection in the wallet. Find the “sell” button and click on it to find a pricing page. Set the terms of the sale on the pricing page, with options of choosing from an auction or fixed price sales. Generally, you would receive payments for NFTs in the form of ERC-20 tokens or ETH tokens.
History of NFTs
The history of NFTs begins long before the term itself appeared and became a phenomenon. We are going to explain to you how from Satoshi to Beeple, the NFTs appeared and then imposed themselves.
I – Before NFTs were called NFTs (2011 – 2017)
An NFT is a non-fungible token, i.e. a unique digital object. This notion of uniqueness appeared with the very arrival of Bitcoin.
Namecoin, the precursor
Indeed, the blockchain – a concept first mentioned by Hal Finney in 2010 – of Bitcoin makes it possible to store data irretrievably, which makes it possible to prove its existence to everyone with certainty.
With this possibility it is therefore possible to keep a data register on top of Bitcoin, to manage this or that application. Members of the community have therefore considered using this principle for domain names. The project that started as BitDNS was born as the first “Altcoin”: Namecoin .
This cryptocurrency, supported by Satoshi and Hal Finney , maintains a registry of .bit domains , still functional today (and precursor to ens domains and many other such projects).
To do this, they introduced the ability to embed data into a Namecoin transaction. This gave the idea to an artist and a developer of Monegraph, which can be considered as the pioneer project of CryptoArt.
The ability to embed data in a transaction was later added to Bitcoin (after long debate) in the form of the OP_Return function and opened up new possibilities from the year 2014.
From Colored coins to Counterparty
The desire to add information to Bitcoin eventually led to the appearance of Colored Coins . The idea was to add metadata to bitcoin transactions, corresponding to the state of a token, using the blockchain as a ledger.
This “colored part” idea has been implemented in many protocols, such as OpenAssets, ChromaWay or Colu. However, the main projects have been Mastercoin and Counterparty, which improved the core protocol and made it easier to create tokens and track them through a dedicated explorer.
Mastercoin (now Omni ) – first ICO – was thus the platform used to create the first stablecoin (USDT), and several other tokens still functional today. Counterparty on its side was created by a community and without ICO . And the way it was created had a great influence on the projects that were subsequently developed on this protocol.
Rarepepes and the birth of CryptoArt
As the creation of tokens on Counterparty was completely free, a lot of experimentation is done on the protocol. You can see the first ‘social’ tokens (like Adam Levine ‘s ), the first video game cards with Spell of Genesis in 2015, and the first real CryptoArt project with the Rarepepes .
The Rarepepes project started in 2016 with the simple desire to make collectible memes based on Pepe the frog and the subject of cryptos, real “rare” pepes. The project met with growing success, many card proposals flowed in, and artists ended up submitting their own cards.
This results in more than 1700 different cards, some unique like HOMERPEPE , made by more than 200 artists. Many of these artists would not stop there, and in the following years would become cornerstones of what is now called CryptoArt.
Ownest Fact: The founders of Ownest had worked on various projects directly or indirectly affecting non-fungible tokens. We can cite in particular Dipl, for the certification of skills, or a project based on the AIS (automatic identification system) but in a tokenized version.
II – Emergence of NFTs on Ethereum (2017 – 2018)
One of the collaborators on the Mastercoin project thought it should be possible to do more than just tokens on the Bitcoin blockchain. After seeing the changes he had proposed refused, Vitalik Buterin then decided to stand apart and create a new cryptocurrency, which would become the cement of the NFT revolution: Ethereum.
Les premiers “NFTs”: Etheria & Cryptopunks
Ethereum was launched in August 2015 with the intention of becoming “the world’s computer”, thanks to a novelty: “”smart contracts”. These programs allow you to create almost the application you want in a decentralized way.
This gives ideas, and the first project that could be associated with the notion of NFT on Ethereum is Etheria (2015). This project offered a virtual world where you could buy pieces of land and build whatever you want on them. These unique pieces of land are precursors to projects like Cryptovoxels or Decentraland .
It took time then to see real “NFT” projects on Ethereum, this platform being considered in 2016-2017 as a playground for ICOs. The Cryptopunks project , in the summer of 2017, marks a first turning point by offering 10,000 unique avatars and these pixelated punks are now considered the first real NFTs on Ethereum.
Ethereum: from ERC20 token to ERC721
The first years of Ethereum were mainly devoted to the creation of fungible tokens for ICOs and decentralized applications, grouped under a standard: the ERC20.
But the emergence of projects requiring a non-fungible token/asset has also led to thinking about creating a new standard for this type of object. In September 2017, Dieter Shirley proposed a new ERC standard for a type of token he called “non-fungible tokens” or “NFT”.
This choice of the term token then appears to him “as the best of the bad options”:
I did spend some time trying out other alternatives (“item”, “object”, “thing”, etc.), but none seemed right. I am happy to hear other suggestions because I am not entirely content with “token”. It just seems like the best of some bad options.
English: I spent some time trying other alternatives (object, thing, etc) but none seemed correct. I’m inclined to any guess because I’m not sure about the word “token”, but I feel like it’s the best option.
This new standard will therefore be used from December 2017 by its creator for the game he co-created: CryptoKitties.
The CryptoKitties Phenomenon
CryptoKitties really marks the launch of the NFT phenomenon. This game launched on December 2, 2017 offers to collect unique cats with their own characteristics on the blockchain and to mate them to create new unique cats, then inheriting the characteristics of their parents.
This game takes advantage of its start in full explosion of the price – and the popularity – of Bitcoin and becomes a real phenomenon. They then exchange CryptoKitties at very high prices (>100k$), we talk about it in the New York Times and the number of users is such that these felines even make the Ethereum blockchain almost unusable at times.
Ownest Fact: The first application was launched in early 2018 on an alternative chain to Ethereum following these blocks. We found that apps like CryptoKitties could undermine our own apps
This success will then explode the applications using non-fungible tokens (games, collections, arts, …) and bring into the standard the name associated with this new ERC721 standard, the Non-Fungible Token, or NFT.
III – Towards the general public (2018-2021)
Starting with CryptoKitties and the popularization of the ERC721 standard, NFTs are developing at a breakneck pace on the Ethereum blockchain, and other blockchains inspired by it.
From 2018, many projects using NFTs have been developed on Ethereum, in various fields, ranging from video games to art, including virtual worlds.
All these NFTs can be traded, but it remains complex if one must each time connect to a market place specific to the application in question. This is where the Opensea Marketplace (Dec 2017), the first of its kind and industry leader, comes in and allows anyone to list their NFTs and buy them.
This simplicity has enabled democratization by giving greater liquidity and visibility to these unique digital objects.
NBA topshot and alternative channels
One of the findings of the creators of CryptoKitties was that Ethereum was not able to support popular games without seeing the price of user fees explode. These founders therefore decided to create their own blockchain, Flow, with their company DapperLabs .
Other blockchains have also specialized in the field, such as Enjin, or more recently Wax, which has managed to obtain numerous partnerships with well-known companies such as Atari.
But the alternative blockchain to Ethereum that holds the top of the basket is clearly from the creators of CryptoKitties, thanks to their topshot NBA app . These unique mini-video NFTs of NBA game highlights are snapping up and are consistently the #1 NFT project by volume.
Explosion of CryptoArt and Beeple
The only project that managed to outrun NBA Top Shot is the ancestor Cryptopunks. These NFTs being seen as the first CryptoArt NFTs to be collected on Ethereum, their price has even exploded, sometimes reaching several million dollars.
This field of CryptoArt started on Ethereum via closed platforms like KnownOrigin (2018) or SuperRare (2018). Since 2020, and the appearance of open marketplaces like Rarible, and others pushed by crypto giants, like Gemini‘s NiftyGateway, the domain has experienced a strong surge, in price and in demand.
The turning point was Christie’s auction of NFTs by the already well-known artist Beeple, which reached $69m. This had the consequence of making the field known to the whole planet, with mentions of the NFT phenomenon in French newspapers, whether on paper or TV.
Interest and use of NFTs
“The first reason is to be part of those who have it and to show it, on social networks for example”, explains Pierre-Nicolas Hurstel. NFTs, such as the CryptoPunks series representing pixelated avatars, do not a priori present a huge interest from the point of view of artistic work. But owning one gives the feeling of belonging to a community. And the mass of buyers worldwide fuels speculation.
NFTs are now worth hundreds of thousands of euros, representing real financial investments. Some only acquire them with a view to reselling them later, hoping to make a substantial added value in the process.
Access services and benefits
In addition to the purely speculative dimension, “the second reason is to be able to access the advantages to which NFTs open”, according to the boss of Arianee. By acquiring NFTs via a digital wallet, for example, you can have priority access to a new collection of digital assets. In other words, buying NFTs will make it easier for you to get new NFTs. Not enough to convince skeptics. But NFTs can also provide access to services, these non-fungible tokens not being confined to art. The French startup Sorare thus makes it possible to play online with its cards of professional footballers, to be collected in the form of NFT.
In the fashion and luxury sector, an NFT could be used to certify that you are the owner of a physical asset, such as a bag from a major brand. And it could also open the door to advantages, even exclusive services, such as private sales or the possibility of speaking with a designer, for the most loyal customers.
“We need to create the right tools so that those who issued the tokens and those who own them can interact. A whole infrastructure remains to be built, with radically different fundamentals from web 2.0, in which we exchange our data for access a service, with centralized bodies,” said Pierre-Nicolas Hurstel. He thus dreams of a world in which NFTs will make it possible to connect, without sharing our data, to discussion spaces, commercial spaces and social networks.
For brands, NFTs can also create a digital link with their customers and potentially strengthen “engagement”, an important dimension in the marketing world. These digital tokens must promote the creation of a “community loop”.
Support an artist
In the field of art, buying an NFT also aims to “support a creator we love, in a world that is becoming more and more digital”, argues Stanislas Mako, founder of the Kalart platform, dedicated to digital art. Internet users will, for example, buy the script for a video in the form of an NFT to support the work of its author and possess something that reminds them of his work.
“There is a desire to make the works unique, outside of social networks, and to be able to collect them, not like posters on the wall but on your wallet (digital wallet, editor’s note)”, explains Stanislas Mako. In addition, virtual reality headsets already allow you to make a kind of visit to your virtual art gallery. “It’s a new way of conceiving works and consuming them.”
Other Internet users will still be able to access the same work on the web as the one owned in NFT. “It’s the same for the Mona Lisa. If you google it, you’ll see it, you don’t need to own it. Everyone can see it but not everyone can have it”, nuance the boss of Kalart. On the other hand, if you buy a painting and keep it at home, only you and those you invite to your home can admire it.
If digital works undeniably require in-depth artistic work and real talent, as illustrated by the productions of Beeple , it is difficult not to fear a speculative bubble on the NFTs overall. “The speculation is undeniable, as for any novelty in general, as in 2001 with the Internet bubble”, recognizes Stanislas Mako. “Which doesn’t mean the internet was a bad thing,” he adds with a smile in his voice.
It remains to be seen whether NFTs will also become essential in the future, and are not just a simple fad, a passing fascination for a new technological tool.
The technology behind NFTs
NFT, technological evolution or systemic revolution for the media and entertainment industry?
Blockchain and NFTs have burst onto the scene, but is it a simple technological evolution or a real systemic revolution? How could the blockchain and cryptocurrencies, rather coming from the financial world, have an impact on the media and entertainment industry?
In terms of technology, there is no great evening or great brutal revolution, but rather ultra-rapid evolutions of micro-phenomena. Their analysis requires continuous questioning of established models and good agility, not to mention an unfailing spirit of innovation. The NFT revolution that we are going to try to decipher here is, without a doubt, one more manifestation of this creative and technological energy which could contribute to transforming the media and entertainment industry in the long term. But it is precisely because this is a media whirlwind that it can be difficult to take a lucid look at the impact of NFTs in the coming years for the industry.
From time immemorial, the tools of information and then of the media industry have been able to feed on technical developments first and then on technological advances. As far back as we go in the history of civilizations, we note innovations that have allowed the dissemination of information to the greatest number of people. Some were only evolutions, others on the other hand were profound revolutions, such as the printing press, the cinema, telecommunications or even the Internet.
From the scribes of ancient Egypt to the chronicling monks of the Middle Ages, passing through the journalists of the golden age of the press at the end of the 19th century, everyone knew how to take advantage of technical developments.
Until today, the development of techniques has offered media men and women tools to facilitate their work and extend their influence. With the post-digital era since the 2010s, the media are once again at the heart of technological upheaval and are both observers and users of innovations. The Cloud, Data, AI, 5G are now at the center of this industry. Netflix would not exist without the ability to store and distribute an incredible amount of content via the Cloud, and would be incapable of understanding our expectations without Big Data and artificial intelligence.
Welcome to the non-fungible world
It would seem that the NFT phenomenon goes well beyond a simple fad in an Art market in search of a new digital energy. It should be noted that this Art market is perhaps one of the last to have so far escaped the digital wave and “uberisation”.
Whether they are market giants like CNN, the NBA, the New York Times, or even Ubisoft, or newcomers, like the French unicorn Sorare, (which has just raised 650 million euros) they have all launched in a real race for offers and announcements. Many examples are emerging of this trend that seems here to stay: from the sale of “unique” content to the collection of cards of football stars, passing by enigmatic works like “Crypto Punks”. Behind these examples, which might seem anecdotal with probably a bit of a bubble effect, hides a leading technological revolution that is complex to understand, which combines blockchain, cryptocurrency and inviolable “Smart contracts”. It is possibly the whole value chain of creation, from the production of a work to the management of intellectual property, which could be upset. A total paradigm shift some say.
From blockchain to NFTs
However, as with all technological developments or innovations, it is necessary to dwell on the conditions of its appearance, then on its translation into usage and finally on its adoption. We need to delve into the blockchain to understand the very concept of a “non-fungible token”. Vincent Rémon, blockchain and metaverse expert at Onepoint, a digital transformation consulting firm, helps us understand the phenomenon from a technological point of view.
The first question that arises is that of the very principle of a decentralized technology which consists in not hosting the information on a single point, a single server, which could no longer be available over time, or if it is too requested. Decentralizing means duplicating and sharing information between several independent players: if some of them disappear, the information is still available from the surviving systems.
From this point of view, NFTs are based on the fundamentals of the blockchain: the ability to create unique and non-duplicable digital elements and to certify transactions within the framework of their exchanges. The first blockchains only offered an exchange of value (currency), but since 2015 new blockchains including Smart Contracts have made it possible to create unique tokens: NFTs, which are therefore a structural evolution of the blockchain. It is then the different use cases of NFTs that define the fields of application… and they are endless! If since the beginning of its existence, blockchain and bitcoin have gone hand in hand, new protocols have emerged such as Tezos or Ethereum which are therefore second generation blockchains (post 2015) allowing the hosting and execution of Smart Contracts: automated computer programs that are the fundamental building block for creating NFTs. Add to this the very open side and the large communities of open source developers who have contributed to the popularization of Smart contracts and NFTs on these blockchains.
“Proof of Work” et “Proof of Stake”
Today decried for its considerable energy consumption, Bitcoin, which is based on the principle of “Proof of Work”, also called “Proof of Work” in the language of Molière, describes a system which requires an enormous power of calculation. The evolution of this is the ” Proof of Stake” which unlike the Proof of Work, does not ask to solve calculations before creating a new block. With this protocol, to win the right to mine the next block, you have to stake part of your cryptocurrency possessions and this requires much less effort from the machine and therefore 99% less energy. In addition to these two consensuses, which are the most used, there are many alternative algorithms, already in production or still in the state of mathematical concepts. Some are very original, ambitious, and all try to solve the pitfalls of the first consensuses (electricity consumption, plutocracy), without compromising security and scalability.
Blockchain, as we can see, is far from being an emerging technology. She is even relatively mature. NFTs themselves have been around since at least 2017, (an eternity in the tech world) yet the buzz is only a few months old. So why is it that the general public and the media are interested in the phenomenon today? The answer is probably to be found on the side of representation and images which tend to make an abstraction a much more tangible reality.
“Creation and possession, use and function, value and time, geography and the immaterial are concepts shaken up by the blockchain”
If the blockchain was, except for computer scientists keen on cryptocurrencies, remained until then a cold and not very concrete technology in everyday use, creation and Art on the other hand fascinate and attract light. It should also be noted that the Covid crisis has undoubtedly played the role of catalyst for the phenomenon by placing technophile creatives under house arrest. The confinement situation pushing them to take an interest in new forms of creativity and to explore the world of cryptocurrencies.
As Eric Loréal, creative experienced in communication, crypto-speculator and collector of NFTs, explains to us:“I observe that part of the Art world (in particular certain listed artists represented in galleries) sees the advent of NFT’s as a curious beast, an ephemeral fashion, something that does not concern them. And on the other hand, I saw the meteoric rise of a new generation of digital artists from all over the world who were invisible until now. The sale of their works in the form of NFT’s turned their lives upside down as they found visibility in an international market. Blockchain technologies and their tokens such as Ethereum, Solana or Tezos have enabled the conditions for a market to be established: trust, authenticity and liquidity. At last, technology has made it possible to unleash creativity with the possibility of using computer code in the service of artistic execution (such as Generative Art or the editing of random unique works). »
Creatives of a new kind, more digital and above all uninhibited by technology
Who are the creators of these Tokens? Many were already artists and accumulated jobs as illustrators, graphic designers, designers or developers in the tech, media and communication industry. Some, despite their talents, lived in precarious situations. They have become independent for a few months and live from the sale of their production. They come from all over the world, are rather young and passionate about internet culture, games and were among the first curious about cryptos such as Ethereum.
Erice Loréal again: “I was amazed by Sutu’s Neonz project, he’s an artist I had discovered on Hic and Nunc (main NFT Marketplace on Tezos) and who is deploying his incredible avatars in an ongoing metaverse. of achievement. Finally, one of the craziest projects is that of John Karel “Common Skele”, the project allowed for 24 hours (on Halloween day) to Tezos holders to mint (put an NFT on the blockchain) the creation of unique image with random combinations of skeletons and its very creative and varied rendering artifacts. »
Beyond the “underground” creators, the NFTs are now appealing to more established artists such as the rapper Booba or more recently the Korean Pop group BTS, idol of the millennials. The group’s agency, Hybe, has indeed announced the publication of NFT photocards of the members of the boy band in conjunction with the South Korean stock exchange Upbit, managed by the cryptocurrency operator Dunamu – the largest in the country.
In this highly competitive landscape, the French crypto Tezos, created in 2014, quickly managed to find a good place for itself. The Tezos ecosystem was able to seduce the community of creators for its innovative technology, the richness of its ecosystem and the energy sobriety of its protocol. A great diversity and quality of projects have resulted from this. Like for example the Tezotopia project from the Gif Games studio which mixes NFT and Farming (Play-To-Earn model) with a battle game where you own land and where you can make collectibles.
Big companies are on board and some are investing heavily
According to the latest figures from DappRadar(which analyzes blockchain applications in real time), the NFT market reached more than 10 billion dollars in the third quarter of 2021 (i.e. 8 times more than the previous quarter) and represents a marketcap of 45 billion dollars! How not to dwell, for example, on the announcement in the spring of 2021 of the partnership between Tezos and Ubisoft. The gaming giant indeed wishes to become one of the “bakers” of Tezos and sees in it the means not only to be able to influence the course of the crypto but also to constitute a “non-taxed” war chest for the years to come. It is from this point of view a visionary bet. On the usage side, Ubisoft plans to offer its players the possibility of carrying out NFT micro-transactions in a completely dematerialized environment. As Nicolas Pouard points out,“We have a level of reputation that means that if tomorrow we offer to distribute NFTs in our games, people can trust them. Eventually, and if this movement is global, it could make the blockchain invisible in a way, reducing it to an infrastructure technology. It is the use that will prevail”.
Ubisoft is not the only behemoth in the sector to launch full throttle into the transactional metaverse. Associated Press, the global news agency has announced the creation of a unique collection in partnership with the MetaList Lab platform. So each NFT features the most important Associated Press news stories from the past 100 years. According to fintech expert Franck Guiader: ” The tokenization of the economy would thus amount to making the blockchain a technological support for exchange, traceability and loyalty instruments, independent of a central control body, which would challenge the business paradigms that previously existed between producers, distributors and payment infrastructures. »
Ultimately, therefore, the entire value chain of creation will be modified. Creators, their heirs, production intermediaries and broadcasters can count on the reliability of technology to promote trust and transparency in contractual relations. Kevin Primicerio, co-founder of Pianity , the first French NFT marketplace specializing in music , explains the phenomenon quite well. “For artists on our platform, NFTs are becoming the main source of income. I take for example Sarkis Ricci, a pianist based in Berlin who had no more money because of the pandemic. He was preparing to return to live with his parents, but he sold two NFT songs in quick succession on Pianity, for a total value of 9,000 euros. He is super happy, because it allows him to continue to live from his music while staying in Berlin, in contact with artists who stimulate him.”
Even if the strong speculation on this subject and its share of scams should not be brushed aside, NFTs are key in the world we are about to enter: that of the metaverse. This virtual world where everyone can not only live immersive experiences but in which we can own and create digital objects. Of course, all the players in the industry will have to have a place in this universe. Brands and the media will surely play the same role there as in real life, but with other tools and a relationship that we would like to see more balanced between broadcaster and creator with a more equitable sharing of value.
Vincent Rémon is convinced of this: “the concept of NFT will be democratized… even more because the current craze for digital art is already a strong democratization and NFTs have already had other applications, such as in finance or real estate with STOs (Security Token Offering). As soon as we need to exchange and trace identifiable and unique elements, NFTs could be an ideal digital medium.
This upheaval is therefore very likely irreversible. This is indeed a revolution! Our world will be changed by its adoption and we are at the very beginning of this story. Will media industry players be able to catch the wave in time and make the most of this new technology? Will they be able to accept a new way of exchanging value with artists and creative rights holders?
The Best NFT Projects Right Now 
NFTs continue to grow in popularity, whether in Europe or in the rest of the world. As a result, many people are discovering this medium and want to invest in it, but are wondering “ what is the best NFT project to invest in? ”. If you recognize yourself, know that you are in the right place!
On this page, we’re going to share with you 12 NFT projects that we think are some of the best to date, as well as different things to consider when picking out a worthwhile NFT project.
How to find promising NFTs to invest?
Have you taken note of the list above but want to know how to go about it so that you can spot promising NFTs on your own and invest in them as soon as they emerge? For this, many criteria must be taken into account, and we will develop them one by one.
The creator of the collection
The creator of the project plays a key role in the success or otherwise of an NFT project. If the person behind the project is recognized as a reliable person in the web3 world, that’s a great thing. On the contrary, a project whose creators are dubious, or worse, unknown, does not deserve your attention.
The NFT Squiggles project is a textbook case in point, for the wrong reasons. This one had absolutely everything to impose itself…except the creators, who were more than doubtful. As a result, despite incredible hype at the launch, the project totally failed. This example therefore shows that it is essential to do research before spending money on a project.
The sale price
The sale price of an NFT during the mint is also taken into consideration. As a general rule, keep in mind that a project that wants to reach as many people as possible and last for a long time has no reason to set a mint price that is too high .
Even the projects that today are hugely worth on the secondary market, were launched at more than affordable prices for the most part. As an example, the mint price of BAYC was… 0.08 ETH!
Most of the great NFT collections are much more than just images, and offer real benefits to their holders.
When you own a BAYC, you have the opportunity to join a community, a social circle of very interesting people. In addition, everyone with a BAYC has recently received Apecoin, the new cryptocurrency from Yuga Labs.
It’s the same for other projects. For example, the NFTs signed Lucky Block allow you to participate in draws , while donating 10% to associations for example.
Whether it is financial or “social” benefits, an NFT project that is useful will always be more interesting.
Projects attracting celebrities
When a music superstar, sportsman or Hollywood actor decides to put an NFT as a profile picture, it’s usually very positive since it puts the spotlight on the project in question, and stirs up the curiosity of people outside this environment. Something to stimulate activity around the collection concerned and potentially increase its price.
What is the best wallet to store NFTs?
If you decide to invest in NFTs, it is absolutely crucial to turn to the best existing wallets , in order to offer you optimal security.
Indeed, hackers are unfortunately legion in this space and having a good wallet will protect you from them and significantly reduce the risk of having your precious NFTs stolen.
Currently, there is an immense amount of wallets available, all with specific features. In reality, to choose your wallet, a few key points must be taken into account: the security it offers, its reputation, its ergonomics, and its compatibility with the different blockchains available.
By taking all these criteria into account, we can considerably reduce the list of wallets being good options. And to make it even easier for you, we have compiled a list below of the 5 best wallets, in our opinion, according to the criteria mentioned above. Here they are :
- Coinbase Wallet
- Trust Wallet
How to buy cryptocurrencies to invest in an NFT?
You are ready to buy NFTs… well almost! Indeed, you are still missing one thing: cryptocurrencies .
Most NFTs are purchased using cryptocurrencies, so you will need to source them before you can purchase the NFTs of your choice.
You do not know how ? No worries ! The procedure is extremely simple and quick. And once you’ve done it, you won’t have to worry about doing it again. To guide you during your first purchase, here is a short step-by-step guide to help you see things more clearly and buy cryptocurrencies on Crypto.com .
Download Crypto.com Mobile App
The first thing to do is to go to the App Store (or the Play Store if you are on Android) and download the Crypto.com Application. It is through this application that you can buy cryptocurrencies. You can also click here to create your account before downloading the app.
Create an account on Crypto.com
After downloading the Crypto.com app, click on it. You will then be asked to create an account (or identify yourself if you already have one). Choose “Create New Account” then proceed to registration.
You will first need to provide an e-mail address.
Once this is done, you will have to click on a confirmation link received by email and you can continue your registration, by entering information such as your telephone number, your first and last name, or your address, and determine a password. .
Get your account verified on Crypto.com
When you have completed all the information requested by Crypto.com, the platform will inform you that it will come back to you within 24 hours, the time of the verification procedure. You just have to wait.
Buy cryptocurrency from the app
Is your account now validated? Awesome ! So you can get the cryptocurrency of your choice. In the majority of cases, it will be either Ethereum, the flagship cryptocurrency when talking about NFT, or Solana, which is a serious alternative.
Either way, all you have to do is click on “Trade” from the home page……then on “Buy”, and choose the cryptocurrency you are interested in. At this time, you will be able to get some using a bank card, crypto or Fiat.See also NFT : Starbucks turn!
Transfer to your Wallet
Now that you have cryptocurrencies, the last thing to do is transfer it to your wallet so that you can make purchases on the NFT platforms of your choice.
To do this, nothing could be simpler: go to “Transfer” on the home page, then “Withdraw”. You will then be offered various choices of withdrawals. Choose “External wallet” and add your wallet address, choosing the corresponding blockchain.
The transaction usually takes a few minutes to complete.
There you go, you now know how to get cryptocurrency and transfer it to your wallet in order to exchange it for NFTs!
As you can see, apart from the registration, which can take a day, the process is fast and all of this can be done in just a few minutes.
Focus on the best NFT projects of 2022
Without further ado, we are going to give you all the details on all the projects to follow in 2022. This way you can decide which project corresponds most to your expectations.
Lucky Block NFTs
Lucky Block is, in our opinion, the best choice when it comes to investing in NFTs in 2022 . After proving to be one of the best altcoins to look into this year, thanks to its innovative and unique tokenomics, Lucky Block decided to launch a collection of 10,000 NFTs ahead of the launch of their cryptocurrency lottery app.
Also called “ Platinum Rollers Club ”, this collection is very interesting since it offers real usefulness to its holders. Thus, anyone with an NFT from this collection will benefit from daily lucky draws made by Lucky Block. Clearly, these NFTs serve as tickets to take part in these daily draws.
Note that these draws will be separate from those related to the crypto-lottery, which is a considerable advantage since it reduces the number of participations. Which, therefore, increases the chances of winning for the owners of these NFTs. The stake in each draw will be the equivalent of 2% of the main draw.
The Platinum Rollers Club collection was officially released on March 19, 2022 , for a price of $1,500, or just under 1,450 euros. During the Mint, it was possible to win “ Rare Edition ” NFTs. Their usefulness? These simply allow you to double the winnings in the event of a winning draw. Just that !
Finally, Lucky Block has a real humanitarian ambition since 10% of each jackpot will be donated to charity, which will be chosen directly by platform users.
Clearly, the Platinum Rollers Club collection is already installed as a serious and reliable project, and can bring big returns to people who invest in it.
CryptoMines Reborn – NFTs Games
Some NFTs may have a completely different use. This is for example the case of CryptoMines Reborn . Indeed, NFTs have a special role here since they will only be used to progress in the CryptoMines Reborn Play-to-Earn game.
So, if you want to get into an immersive game in the heart of the metaverse , we recommend the latter without hesitation. Despite a somewhat difficult start at the end of 2021, the project has listened to its community. This represents, in our opinion, a real guarantee of reliability for this project.
In this context, CryptoMines Reborn has therefore implemented an important set of updates. In line with the existing NFT market, the game also got a new Smart Reward System (SRS) putting the CRUX token in the spotlight.
To give you more details about the game, this one is very simple but at the same time attractive. You will need to find the maximum of WCRUX that will be used in the metaverse. These will thus allow you to explore the different galaxies and in the long term, will allow you to generate profits. So, to take part in this game, you will absolutely need the NFTs .
It should be clarified that the total supply of CRUX tokens amounts to 5,000,000. The token has a resale period of 60 seconds to protect itself from trading bots.
If you are interested in this project, we advise you to follow the CryptoMines Twitter or the Discord of the game. You will find all the social networks of the project on the official website of CryptoMines Reborn .
Yubo – The NFT project of the ultra-innovative French social network
Yubo was launched in 2015 and already has over 60 million users . It is a live streaming social network. The purpose of this network is to make users socialize with each other, in a friendly way, all over the world.
Especially focused on Generation Z , young people are snapping up this application which continues to be talked about.
Just recently, the team behind Yubo decided to launch their non-fungible token collection in which 10,000 coins will be offered for sale.
Each NFT can of course be used on the application as a profile picture, but not only! This will allow them to show their membership in the Random Fam, and to enjoy many advantages such as:
- VIP meetings with influencers
- Access to exclusive products (t-shirt, sweatshirt, cap, etc.)
Bored Ape Yacht Club
How to talk about NFT projects without mentioning Bored Ape Yacht Club ? This is simply impossible, as this project has had a key role in the expansion and popularity of NFTs during the year 2021.
Created by Yuga Labs and officially released in May 2021, this collection of 10,000 NFTs, featuring, as the name suggests, bored-looking monkeys, is undoubtedly the most popular collection , both in and out of the NFT space.
Indeed, even people who are not interested in NFTs recognize these monkeys, in particular because they have been used in profile photos by many international stars, from Wiz Khalifa to Future, via Paris Hilton.
Today, owning a BAYC is a real sign of social status since the floor price of the collection is currently at 120 ETH , or nearly $350,000 at the current price of ETH.See also What is Decentraland (MANA) and how do I buy it?
Having a BAYC therefore means being part of a very closed club, in the strict sense of the term. Beyond the prestige surrounding this collection of NFTs, these also have a real utility since they offer access to the “Yacht Club”.
It’s happening on Discord, and since a lot of BAYC holders are big-name entrepreneurs, celebrities, or just plain experienced people, having access to this community is a definite plus.
Finally, it should be noted that a number of extremely promising projects continue to be developed by Yuga Labs and are closely linked to BAYC. This is particularly the case of the Apecoin cryptocurrency and the Otherside metaverse.
For all these reasons, buying an NFT Bored Ape Yacht Club can only be a good idea to date, despite its extremely high price which, we are aware, is far from accessible to everyone.
Just like Bored Ape Yacht Club, CryptoPunks is a project that should be mentioned when talking about NFTs, because it has contributed greatly to their development.
Speaking of Bored Ape Yacht Club, the company behind this project, Yuga Labs, has recently acquired the intellectual property rights to this collection. This is a very good thing since Yuga Labs is one of the most powerful companies in the NFT world.
But, apart from that, and even before this takeover, CryptoPunks was already an iconic NFT collection, especially because this is one of the very first NFT projects in history. Recall that it was born in 2017.
Much like Bitcoin is the “ancestor” of cryptocurrencies, insofar as without it, cryptocurrencies would probably not have the place they currently have, CryptoPunks also has this pioneering role .
And although their floor price is no longer the highest as it may have been before, CryptoPunks is definitely a must-have project and one that will still be very interesting to invest in if you can afford it.
Doodles, A unique art
With unique aesthetics and colors, Doodles created a real impact in the world of NFTs when it was released at the end of 2021, so much so that many emerging projects are now inspired by this very particular style .
Doodles is a collection created by Poopie, Tulip and Burnt Toast. These are three personalities who were already well known in the NFT space since they had already, for two of them, contributed to the birth of CryptoKitties , another digital project which met with real success.
If this original, childish and very amusing visual side of Doodles largely contributed to the success of the project in the first place, it imposed itself, a few months later, as an undeniable blue chip for many other reasons.
When the Doodles Project is talked about, it’s always for good reasons. No real negative controversy around the project has taken place to date, which shows the seriousness and professionalism of the team.
Many events around Doodles have already emerged, the biggest of which is probably Doodles SXSW, an exhibition aimed at recreating the world of Doodles, in collaboration with Shopify. All this aims to democratize the brand to the general public. It is precisely with these kinds of initiatives that this can happen.
Finally, Doodles is a project that continues to innovate. With Space Doodles, released a few months ago, each owner of an original NFT Doodles has the possibility of “swapping” their item in order to add a special ship and an animation to it , and to return to the original version whenever they want. seems.
In short, Doodles is a project that pleases, that brings people together (many personalities have already invested in it, such as Justin Bieber , or figures in the web3 world like Alexis Ohanian or Pranksy) and, above all, that innovates, bringing real advancements to NFTs. For all these reasons, investing in Doodles is a good idea!
Axie Infinity is a real juggernaut in the NFT world. These are the projects that have paved the way and enabled many others to see the light of day. Axie Infinity is a play-to-earn developed by Sky Mavis, a Vietnamese studio.
The concept is simple: raise Axies, cute round creatures, so that they give birth to new creatures, whose characteristics will be determined by the genes of the parents.
Axies are also made for combat, and have specific types. During a fight, a player must create a team of 3 Axies, ensuring that they are complementary.
As you will have understood, this is a game whose universe and gameplay are reminiscent of the famous Nintendo pocket monsters .
The major difference with other games of this genre is that Axies are NFTs, meaning that you actually own them and can resell them on the game marketplace , sometimes at astronomical sums.
An Axie, for example, sold for more than 1 million dollars in 2021, while sales of tens of thousands of dollars are not so rare.
Moreover, there are many people who can completely live from this game , by generating more or less large sums depending on their creatures.
In short, buying an Axie is like actually setting foot in the blockchain and the web3, via a game of very large scale, whose growth has been immense in 2021 and which continues to evolve positively
If it’s the “metaverse” side of NFTs that interests you, and you want to invest in plots of land, then Decentraland is an excellent choice. Decentraland is an ecosystem based on the Ethereum blockchain but whose “official” currency is MANA.
What is very interesting with Decentraland is that it is actually much more than parcels of land, since it is possible, for the people who own land there, to use the tool of construction to build tons of things, including games!
Clearly, Decentraland is a metaverse that offers great freedom to all of its players. Moreover, it continues to evolve, in particular because its community continues to develop new decorations there. You can therefore find dungeons from medieval times as well as spatial settings!
The community aspect is an integral part of Decentraland. It is also possible to buy and exchange various things: plots of land, clothes, weapons, and works of art. Something to bring players together and make the project even more attractive.See also Moonbirds – The collection that generates $300 million upon launch
As you will have understood, Decentraland is an ultra-ambitious and promising project, which is already well in place and whose ambition is to grow, by bringing more and more people into it, and even people originally from outside the web3 and NFTs.
It is therefore a more than solid choice of investment, because the NFTs linked to Decentraland will necessarily take in the event that this metaverse gains momentum. Very large sales have already been made, since some lots have sold for tens of thousands of dollars.
Meebits is an NFT collection created by Larva Labs, the company behind CryptoPunks. This point alone is enough to certify that Meebits is a reliable and well-framed collection .
Another positive point: this collection was also bought by Yuga Labs (Bored Ape Yacht Club). Concretely, this means that the project is far from being abandoned and that interesting news about it could emerge throughout the year. Anyway, Meebits is in good hands, which is reassuring.
As for the specifics of the collection, it is a collection of 20,000 NFTs launched in 2021, so much later than CryptoPunks, featuring 3D avatars, with unique traits randomly generated for each of them. ‘between them.
At the moment, the floor price of the project is 6.69 ETH, while its price during the mint was 2.5 ETH , which was far from a negligible price.
Anyway, the project has clearly appreciated and is very solid. Many sales are made daily, and the trading volume is over 100,000 ETH, which is huge, and puts it in the rank of very big projects, like Doodles.
Meebits therefore has everything of a quality project and the takeover by Yuga Labs only suggests good things for its future. If you were wondering why invest in Meebits, you now know!
If you’re looking for an NFT collection that’s a bit cheaper (compared to other projects such as BAYC or CryptoPunks) and is now well established, Pudgy Penguins might be a choice to consider.
The 8,888 NFT project, whose floor price is currently at 1.8 ETH , which is just over $5,000 right now (but has already seen immense sell-offs, one of which of them at more than 400,000 dollars for a rare item!), was born almost a year ago, in July 2021.
This project is therefore one of those that was created shortly before the huge NFT boom, and has managed to remain relevant despite the arrival of countless projects. This already gives him some credibility.
Admittedly, there are many controversies surrounding the project, one of which notably occurred in January 2022, when the founders (including ColeThereum, a famous Twitter NFT influencer, who was, roughly speaking, the face of the project ) were accused of wanting to resell the project after transferring all the profits to themselves.
In addition, many promises have not been kept, especially regarding the creation of a game or a token…
However, the original founders were removed from the project and it was able to rise from the ashes , seeing its floor price increase considerably in recent months.
If you are a sports fan, Autograph.io will be the perfect place for you! This marketplace, based on Polygon co-founded by NFL icon Tom Brady, aims to give various sports celebrities and influencers the opportunity to launch their own collection, or limited edition items.
The concept is promising and the platform is already used by big names. Recently, a collection bearing the image of Tiger Woods has emerged on the platform. Tony Hawk and Usain Bolt have also already partnered with the platform.
It must be said that Autograph.io is supported by people of influence.
Funded to the tune of 160 million dollars , part of which by prestigious names such as The Weeknd or Eddy Cue, ex-vice president of Apple, Autograph.io is a more than promising platform, on which it is possible to find thousands of NFTs, at prices that can vary greatly, which makes the platform accessible to everyone.
Additionally, DraftKings, another marketplace with a somewhat similar concept, recently partnered with Autograph.io, increasing the reach of the latter.
In short, buying NFTs on Autograph.io is a smart choice as these are often valuable and likely to increase in value enormously over time.
With over 100,000 sales made on the platform, Autograph.io has established itself as a top choice when it comes to sourcing sports-related NFTs, autographed by top athletes.
Created by renowned Peruvian and Canadian artist Chris Dryer, Galaktic Gang is a collection featuring 5,555 randomly generated NFTs. Their psychedelic and colorful look makes these NFTs special and original . They are an ideal choice as a profile picture.
But in addition to the aesthetics of the collection, it has a real humanitarian significance . Indeed, by creating The Galaktic Gang Collection, Chris Dryer had the ambition to have a positive impact on the world.
Thus, 10% of the profits from sales generated by this project have been donated directly to associations, since its launch in December 2021.
Galaktic’s current floor price is 0.115 ETH, which equates to just over $300 . Despite this fairly low floor price, the project has already experienced colossal sales, at several dozen ETH: Galaktic Guy #5111 sold for 51.11 ETH (almost $150,000) and Galaktic Guy #1500 for 20 ETH (nearly $60,000).
Of course, these were very rare and coveted items, but the fact that people are ready to invest such large sums on a project whose floor is much lower proves that they have confidence in it and in its development potential .
Anyway, Galaktic Gang is really accessible…for the moment, because there is no guarantee that this price will not fly away in the weeks or months to come.
Galaktic Gang is a reliable project, founded by a serious person, and whose cause is noble. So you can invest in it with peace of mind!
The future of NFT
The final statement about non fungible tokens NFT would draw a fine line of balance between what NFTs are, and what they can be. You need to understand that digital assets are still a cause of concern for many, especially considering the environment they are in. Anything digital is volatile and could disappear in the blink of an eye.
They are a new class of digital assets with the potential for transforming ownership as we know it. However, we can definitely say that NFTs, DeFi and Metaverse will play a vital role in the upcoming future. Start discovering more about NFTs with comprehensive learning materials and explore your possibilities in this new world.
Sources : Wikipedia & ownest.io