5 Most Popular NFTs that You Should Know About!
What is an NFT (non-fungible tokens)?
NFT or non-fungible tokens mean it has unique attributes and cannot be replaced or interchanged. They are the tokens that indicate ownership of unique items including digital artworks, collectables, music, games, and many more things that can be digitized. One of the most important things about NFTs is that there is only one owner at a time and it is protected by a blockchain.
List of 5 Famous NFTs
NFTs have been getting too much attention lately. From being endorsed by celebrities to big companies collaborating and entering the market, they have become a fad these days. What is more exciting about these NFTs is that they give exclusive rights to their members and they enjoy special privileges. Members can create a new piece of art using their already existing characters.
1. Bored Ape Yacht Club
Bored Ape Yacht Club created by Yuga Labs is so famous that it is currently being endorsed by many celebrities. From Justin Beiber to Jimmy Falon, these big names flaunt the apes on their Twitter handles and have made them the most sought-after NFTs in the market.
With just 10,000 in number, BAYC enjoys its elite status by being scarce in number. Not only that, BAYC is coming with its first Hollywood debut movie “ The Otherside”.
2. Doodles
Doodles, created by Burnt Toast are a collection of colorful characters having exciting visual traits. With just being 10,000 in number it includes cats, aliens, apes, skellys, and mascots.
3. Decentraland
Founded by Esteban Ordano and Ariel Meilich in 2015, Decentraland is a virtual world running on the Ethereum blockchain. The users can buy and sell digital real assets, explore, interact and play games within the virtual world.
4. Women Rise
Created by world-renowned artist and activist Maliha Abidi, Women Rise represents women from all around the globe. It is a collection of 10,000 unique NFTs with traits going beyond the diversity of colour of the skin. Women Rise looks forward to building the first school in the metaverse for children around the world who does not have access to education.
5. Moon Birds
Launched on 16th April 2022, Moonbirds is a collection of 10,000 bird NFTs. It gives its members access to private club membership and additional benefits. There is this thing called ‘Nesting’, wherein the member can lock their bird and let it nest without leaving the wallet. Once the total time is accumulated, Moonbird achieves new tier levels.
Types of NFTs and Ways to Buy them:
In order to own the unique pieces of token one needs to have a digital wallet to store their cryptocurrency and NFTs. One can use platforms like Kraken, Opensea, and Coinbase to purchase cryptocurrencies.
Usually, a small percentage of the crypto purchases is charged by the exchanges.
What Makes NFTs so Popular?
For something to become popular and revolutionary requires uniqueness and acceptance. Perhaps that is the reason why NFTs are becoming hot cakes these days and everyone wants to own a piece of them.
Another point that makes it unique is authenticity. Each collectable is different from the other and easily verifiable because of blockchain. Any fake collectable cannot be created because each item can be traced to its original owner.
But there is a love-hate relationship going on in the NFT world. Recently, some very famous NFTs have been under hackers' radars. BAYC and Axie Infinity have seen some of the biggest hacks in the history of NFTs with millions of dollars worth of NFTs being stolen.
Not all that Glitter is Gold
NFT world has seen a remarkable response and it has been accepted as something of value. However, there are a few drawbacks that are worth mentioning while talking about non-fungible tokens. Let's find out more.
Apart from the hacks, the creation of NFTs involves huge computing power and many server farms are powered by fossil fuels. The environmental impact cannot be overlooked considering the already burdened Earth’s environment.
It is not everyone’s cup of tea. For some people, it is just too overwhelming and they are not ready to accept it and conversation around NFTs is either rejected or ignored.
Conclusion on NFTs being Popular
We may love it or hate it but we cannot ignore it. NFTs are booming and there is no stopping them. It has helped enhance exposure for the budding artists and big brands that want to make an impact.
Being so popular, everyone now wants to own and flaunt their avatars just like their profile pictures. Play-to-earn games are becoming famous and it has helped people earn a living.
The digital artists who once used to display their art on other social media platforms were not getting the response they expected however, with NFTs becoming famous their artwork is getting due recognition. NFTs look promising with big brands jumping the bandwagon and trying to make a digital impact.