Non-Fungible Tokens (NFTs) (often called NFT coins by beginners) have recently experienced a steady rise in popularity, strengthening the ongoing boom in Decentralized Finance (DeFi). At the time of writing, 652,082 NFTs are in circulation, representing the vast diversification of blockchain technology’s scope.
Over the years, experts at Airdrop Alert have written substantially on the varied aspects of NFTs. As a novel asset class, NFTs are definable in different ways, depending upon the context. But in general, they are unique and non-interchangeable tokens, representing tangible and digital assets on the blockchain.
The range of NFTs use-cases is broad, covering collectibles, digital art, in-game assets, and so on; thus, their growing significance. As NFTs rise to the center stage, we consistently inform you about the latest updates from the crypto world. In this article, we highlight some of the best NFT Platforms and their native NFTs.
NFT Platforms & NFT Coins: Enlisting the Best in Business
NFTs generally trade on secondary markets, but there are several dedicated platforms in this domain. A majority of these platforms enable users to create and trade custom NFTs. Moreover, they usually have native tokens for in-platform transactions and governance, among other usages. Unlike Nifty Gateway, who doesn’t have a native token, many other platforms do.
Theta is a decentralized video streaming platform that has introduced NFTs for its badges, emotes, and diverse in-platform assets. The platform has two NFT coins, namely THETA and TFUEL. The former serves to facilitate the network’s decentralized governance, while the latter powers internal transactions.
Chiliz is the blockchain network reputed for developing Socios.com, a football fan engagement platform. It uses a native NFT, $CHZ, for all transactions within the network. Additionally, the token’s owners gain off-chain voting rights, enabling them to participate in the decision-making and management of their favorite teams.
Decentraland is a virtual real estate game where users can buy land and build other in-game assets using the Builder Tool. MANA, the platform’s native NFT, powers this interactive gaming and virtual real-estate platform. Owners of this NFT can use it to buy LAND—another class of NFTs on Decentraland—apart from gaining voting rights.
Enjin is a platform for creating and transacting various digital gaming products and assets. Its native NFT, ENJ, acts as a digital store of value, giving the virtual items instant real-world liquidity. In doing so, the token backs the value of the associated on-chain assets.
Flow is a blockchain for building games, apps, and digital assets. A brainchild of the developers of Cryptokitties and NBA Top Shot, the platform has a native NFT, namely FLOW. The token finds usage in facilitating in-platform payments, governance, and a robust reward mechanism.
Rarible is a creator-oriented platform where you can make your own NFTs and sell them on the marketplace. These custom NFTs can be sellable only once or multiple times, depending on your need and demands. Rarible’s native NFT, RARI, facilitates governance and is the means to incentivize participation.
Terra Virtua is a platform that provides an immersive experience of purchasing digital art and collectibles. Furthermore, Augmented Reality and 3D Visuals enable users to showcase their collections across devices. The native NFT, Terra Virtua Kolect (TVK), has various uses and raised $2.6 million at its launch in December 2020.
The Worldwide Asset eXchange (WAX) is a decentralized video game and entertainment platform where anyone can create and transact NFTs. The platform has three NFTs—WAXP, WAXE, and WAXG. An Ethereum-based bridge enables conversions between WAXP and WAXE tokens. In turn, users can stake WAXE to get WAXG, which is a governance token.
Whale is a platform that holds exceptional digital art, rare collectibles, and in-game assets in its ‘Vault.’ Since May 2020, the platform also has a native NFT, $WHALE, usable for transactions within the platform.
SuperFarm is a DeFi protocol that brings utility to tokens through NFT farming. The platform rewards liquidity providers and incentivizes projects that stake their tokens. SuperFarm also has a native NFT, namely SUPER.
Binance NFT, the latest NFT marketplace in this domain, is due for launch in June 2021. Leveraging Binance’s deep liquidity reserves, this artist-oriented platform will be a gamechanger for digital creators and crypto enthusiasts. Artists will be entitled to as much as 90% of the profits, while Binance will charge only 1% as processing fees.
A Final Word
One thing is for sure—the enthusiasm around NFTs is here to stay, expected only to grow with time. Now is the time to get on the bandwagon, but it’s duly advisable that you begin slow. Check out the latest NFT Airdrops and get a taste of the future in small bites, free of cost. There are several ways of earning from NFTs, but for amateurs, airdrops are the best. So, get on, and get going; surf the NFT wave, and follow our page to keep pace.