What Makes NFTs So Popular?
NFTs were created way back in 2015 as people wanted to trade assets and later on collectibles different from bitcoin. But, the main wave of popularity came when cryptopunks and cryptokitties emerged in late 2017.
After the introduction of cryptokitties, NFTs started making the headlines. It became immensely popular and stopped the growth of the ethereum blockchain. But afterward, the hype went silent until 2020.
In the 1st quarter of 2021, the NFTs showed exponential growth; before this, many people weren’t accustomed to this term. The growth is estimated to be 26x the growth in the 1st quarter of 2021.
The popularity of NFTs is increasing with every passing minutea and the features that make NFTs extensively popular are:-
- The USP of NFTs cannot be divided into smaller denominations, meaning they are indivisible, unlike bitcoins that are divisible.
- The data of NFT cannot be destroyed as it is stored on the blockchain.
- Since the data is stored on the blockchain, it’s quite easy to trace out the original owner without any sort of third-party verification.
- NFTs are scarce; however, NFT developers can create any number of NFTs; they are created to add value.
- An NFT image cannot be saved using the “copy” option.
- NFTs contains a unique code that makes each NFT different and in-exchangeable.
- Even if you save the digital art at the right click of the mouse, you will not have access to the stored information. Thus, the digital art you saved holds different values and is not as valuable as the original NFT.
Now that you are aware of the value that NFTs hold, let us go through the best non-fungible token projects in 2021.
Which are the Best NFT Projects to Watch in 2021
NFT projects are the recent craze. Artists, buyers, and sellers are ready to pay any amount to own digital art.
They were introduced to grant ownership rights to artists and relieve them of the hassles around organizing workshops and exhibitions.
However, due to their uniqueness and value, NFTs have developed into the latest trademark for rich people to exhibit their wealth through the ownership of NFTs.
Considering the current scenario, multiple NFT projects are rising and have become the topic of discussion these days. So we are going to introduce to you some of the best NFT projects:-
NBA Top Shot
Launched – 2020
NBA Top Shots is one of the top NFT projects owned by the NBA in association with Dapper Labs.
It is built on Flow blockchain instead of Ethereum. Since its formation in 2021, the clips of iconic moments are sold for exceptionally higher prices.
On NBA Top Shots, users buy their iconic NBA moments and own these digital collectibles forever. NBA shots certify NFTs and grant the buyer the authenticity and ownership rights of that exclusive moment.
In addition to the highlights, Top Shots contain player statistics and information about players’ history as well.
Lil Moon Rocket
Launched – 2021
Lil Moon Rocket is built on Binance Chain to issue NFTs and other “name rockets” tokens.
It has an in-built “blind auction” system that manages project managers and initial competitors from buying the most desirable artwork in the early stages.
After the completion of the smart contract, the complete artwork is revealed.
Lil Moon Rocket sustains a consumer-centric approach as buyers (owners) can rename the artwork and co-create uniqueness with complete ownership.
Thus, Lil Moon Rocket is one of the most popular NFT projects known for its unique blend of vector art and algorithm generation.
Ethereum Name Services
Launched – 2017
Ethereum Name Services was launched in 2017 and since then it has more than 238,000 domain names registered on the platform with more than 71,000 owners.
It is a domain-naming platform based on Ethereum blockchain technology.
The domain names on ENS are non-fungible. They can be incorporated into a variety of NFT marketplaces including OpenSea and Rarible.
Users receiving NFT, token, or cryptocurrency on their domain name can launch private, secure, and decentralized websites.
Launched – 2018
Codex Protocol is a platform that offers a decentralized registration for collectibles and digital arts. It uses blockchain technology and considered a useful tool for the verification of authentic NFTs.
The integration of Codex Viewer allows the prospective buyers to verify its authenticity by tracking its identity and ownership history.
Thus, NFT creators can create a digital record for their collectibles and use it to their advantage by creating confidence among the prospective buyers that they are buying authentic products.
Launched – 2021
Hashmasks was launched by Suum Cuique Labs in Switzerland.
The platform offers a range of 16,384 unique digital assets. This unique range is created by 70 renowned artists of the world.
All 16,384 digital assets are unique in terms of their features including character, eye color, mask, skin color, and other items.
The online community purchased initial Hashmasks in late January. The cost of Hashmasks was determined on a sliding scale, that is, the earlier the purchase the lower the price.
Users who took part in the initial stage of distribution were given 3,660 NCTs each. NCT stands for Name Changing Token and it empowers owners by letting them assign unique names.
Launched – 2021
Beeple NFTs is probably the most popular project of 2021.
Mike Winkelmann, also known as Beeple, is a digital artist whose NFT art is bought for $69M worth ETH. The sale was organized by Christie’s auction house.
Before this, the sale of Beeple’s paintings were not more than $100 per print, however, the recent sale of $69M made Mike one of the world’s most valuable artist globally.
Beeple had gained huge popularity owing to his series called “Everydays – The First 5000 Days”. Beeple is also known for uploading his artwork every day for the last 14 years.
The Best NFT Crypto Projects in 2021
Witnessing the immense popularity of NFTs projects, one thing is clear that they are not going anywhere soon. Many companies have started experimenting in the NFT market owing to the exponential value that cryptocurrencies are currently fetching. The following is a list of the best NFT crypto projects in 2021 –
Launched – 2017
Cryptopunks was created by Matt Hall and John Watkinson at Larva Labs in New York.
It’s one of the top NFT projects based on blockchain that have amassed both buyers’ and sellers’ attention due to their uniquely generated characters, also called “punks”.
After their exponential rise in value, Larva Labs came up with its marketplace where users could easily trade punks and earn thousands of dollars.
They are digital minuscules based on Ethereum blockchain technology.
In Cryptopunks single punk is owned by each user. All crypto punks have unique features and the uniqueness of each punk depends on its attributes. The value of each punk is dependent on the kind of properties it possesses.
Users can access these crypto punks on their website to buy, sell and make bids. Users need to have a wallet with MetaMask for advancing any transactions.
Thus, crypto punks are one of the most expensive crypto NFT projects in the market.
For instance, Cryptopunks having zero or seven accessories are the rarest while crypto punks with two and three accessories are the most common ones.
In the initial stages, punks were released for free. That’s why all the crypto punks were quickly claimed and now they are traded on marketplaces.
Launched – 2020
Rarible is a popular marketplace known for its easy navigation and user-friendly access to trading NFTs.
Besides a secure marketplace, Rarible works as a distributed network where trade is advanced without the existence of a third party.
The minting of digital assets in Rarible is relatively easy.
Rarible allows artists to specify their share. This is done to get the artists their due credit by offering them a royalty for secondary transactions.
Rarible envisions transforming into a Decentralized Autonomous Organization, where platform customers will take all the decisions. Thus, Rarible is one of the top non-fungible token projects.
Launched – 2017
CryptoKitties is an Etherum-based game that involves the collection and breeding of digital cats. It is represented by virtual cats who are different from each other.
CryptoKitties are non-fungible and each digital cat is unique in terms of its features and appearances, famously called “cattributes”.
Each digital cat that is represented by NFT cannot be replaced, destroyed, or taken away.
Users breed digital cats by depositing Ether (ETH) to the dapper, official wallet of CryptoKitties. Users can breed kitties in two ways- either by breeding two of their kitties or breeding with the father (also called public sire).
Due to their immense popularity among gamers, CryptoKitties are well deserving to make it to the list of best NFT projects.
Launched – 2009
Enjin is one of the most popular crypto NFT projects that offer a variety of digital products for monetizing and trading games.
In 2017, Enjin launched its Enjin coin (ENJ) for facilitating transactions.
Enjin began developing a blockchain ecosystem for NFTs.
In 2018, Enjin announced the world’s first gaming multiverses and more than 40 game developers used this platform to create games.
In March 2021, Enjin was reported to achieve the highest market cap among all NFTs and it empowers more than two billion NFTs.
Enjin coins are the cheapest currency that has the maximum potential to grow in 2021.
Launched – 2020
The Flow playground was launched in 2020 by Dapper labs.
In 2017, when Cryptokitties developed by Dapper clogged up Ehereum, there came a new window of opportunity for an alternative; therefore, FLOW came into existence and now it is considered to be a foundation of a new generation of apps, games, and digital collectibles.
It is a layer one blockchain technology that has developed various consumer blockchain applications including Cryptokitties, Dapper wallet, and NBA Top Shot and offers developers to create and trade a particular type of NFT.
Users can buy flow on cryptocurrency exchanges such as Kraken and Gate and users can also interact with FLOW by NBA Top Shot or by buying artworks from the VIV3 NFT marketplace.
Launched – 2020
Decentraland is a digital platform that offers users to create, manage and trade content and applications.
It gives the users multiple digital collectibles like parcels, wearables, names, and estates. Users can own digital lands and decorate them with their creations including different structures and unique sets of architecture.
It uses MANA tokens for the purpose of buying in-game assets and land. MANA coins are available on cryptocurrency exchanges such as Coinbase Pro, OKEx, Binance, etc, for facilitating transactions
Owing to its consumer-centric approach, Decentraland is considered one of the best NFT crypto projects in current times.
Launched – 2020
Axie Infinity is a popular digital game inspired by Pokemon. Like Pokemon, Axie Infinity allows online users to play battles and collect animated miniatures named Axies.
Online players can digitally own their kingdoms and enhance their chances of winning by collecting maximum Axies. Whenever gamers find it profitable they can sell the collected Axies and the owned lands.
In its initial phase, the game has done fairly well. Axie Infinity is declared as the #1 Ethereum game. Notably, Axie Infinity attracts more than 10,000 active users every month.
What are some of the Upcoming NFT Projects that Could Become the Next Hit?
By now you must have figured out that NFTs are more than a gimmick of the ultra-rich and they are here to stay for a long time. Having said that, let us have a look at some of the NFT projects that are expected to hit a landmark in the coming times.
EQIFI is a DeFi project that lets the users lend, borrow, and invest in ETH, ERC-20 tokens, and selected fiat currencies as a decentralized platform.
It has its own bank called EQI Bank that allows EQI to gain complete access to products, including multi-currency bank accounts and credit cards.
The primary aim of EQIFI is to bring forward the democratization of global banking services.
Taking into consideration the success story that the team only took 10 days to fulfill the funding goals of the seed phase, it’s evident to say that this project has a promising future.
Mintbase is an NFT platform built on NEAR protocol. It was earlier based in Berlin but then shifted to Lisbon.
The specialty of Mintbase that it helps users to mint NFTs firstly, while other NFT platforms primarily focus on helping the customers buy and invest in NFTs.
It’s one of the first NFT platforms to provide Audi integration for music artists. It is currently on testnet with NEAR, but it’s presumed that the mainnet will go live somewhere around April 2021.
NFTs are acquiring all sorts of attention due to their exponential rise in values.
Many users are reworking their investment plans and seeking ways to invest in NFTs. The cost of NFTs is at an all-time high as they run into millions of dollars.
NIFTEX allows users to buy fractions in ownership rights of NFTs. This takes away the burden of buying the complete object.
This is beneficial for users as it allows them to claim the royalties on a fraction of trade and earn profits off the NFT market.
Synthesis Bank is built on Ethereum smart contract. Synthesis bank gives the power to the users to invest in different assets without any middleman.
The audits are carried out by CERTIK providing users with the authenticity and verification about the transactions. The services that Synthesis bank renders include arbitrage, cross-exchange market making, and liquidity mining.
Going by the current trends, NFT is going to be present in the market for a long time and this will lead to several opportunities for Synthesis Bank in the crypto market.
It’s no doubt that the current DeFi system is proliferating, but it is not perfect. DeFi users face various issues like hacks ,bugs, attacks from the outside, etc.
Hence there arises a necessity for insurance for the users who lock their tokens on these respective platforms.
To solve this, InsurAce came into the picture to provide insurance against the issues faced by the DeFi users. 2021 will witness a hike not only for DeFi products but also for InsurAce.
NFTs are here to stay for a long time considering the value these tokens are fetching. This year is going to witness an even greater rise in NFTs and in the crypto market.
Thus, users will be on the lookout for newer projects where they find it feasible to invest with prospective chances of claiming maximum profits.
I hope this list of NFT projects has helped you reach a particular decision regarding the NFT and crypto market.
Source : https://blog.digitalogy.co/best-nft-projects-in-2021/