Today, we’ll tell you about the top NFT coins
Since the popularity of non-fungible tokens is growing, whole ecosystems are being created around this kind of digital assets. Dozens of new cryptocurrencies are being born to serve popular NFT marketplaces and protocols.
1. WAX (WAXP)
Market cap: $550 million
WAX is a decentralised network of games and entertainment experiences designed to speed up and simplify interactions between players and virtual markets. WAX offers a whole suite of blockchain-based tools for creating DApp marketplaces. The blockchain is often used for creating, storing, buying, and selling NFTs. Its proprietary AtomicHub marketplace offers those services. WAXP is the main token of the WAX (Worldwide Asset eXchange) ecosystem. It can be used practically for all blockchain operations.
2. The Sandbox (SAND)
Market cap: $700 million
The Sandbox is a blockchain-based virtual world where users can create, build, buy and sell digital assets in the form of a game. The platform built on the Ethereum blockchain facilitates a creative “play-to-earn” model, where you can successfully combine the roles of a creator and gamer. Players can create digital voxel assets in the form of NFTs, upload them to the marketplace, and integrate them into games with Game Maker. They can also buy a piece of Sandbox’s metaverse LAND and populate it with games and assets, increasing its value. The SAND utility token is used to make transactions on the platform, as well as for staking and governance.
3. DigiByte (DGB)
Market cap: $734 million
DigiByte is an open-source blockchain and asset creation platform. DigiAssets is a secondary layer on top of the global DigiByte blockchain that allows for the decentralised issuance of assets, tokens, smart contracts, digital identity and documents. Digi-Broker website is then used to share, buy, and sell digital assets. Another soon-to-come marketplace option for creators is digiassetX. DGB is DigiByte’s native crypto asset used for payments within the ecosystem.
4. Flow (FLOW)
Market cap: $4.1 billion
Flow is a blockchain designed for a new generation of games, apps, and the digital assets that power them. It was built by the famous Dapper Labs – the team behind CryptoKitties and NBA Top Shots. Thus, CryptoKitty owners may use Dapper Wallet to take their CryptoKitties into applications and games on Flow. FLOW is the currency required for the network and all the applications on top of it to function. FLOW functions as a payment means as well as a long-term reserve asset for the entire Flow ecosystem. The token is used by validators, developers, and users to participate in the Flow network and earn rewards. It is also used for fees and future protocol governance.
5. Decentraland (MANA)
Market cap: $1.4 billion
With the help of the Builder tool, creators can fill the digital world of Decentraland with various 3D scenes, artworks, challenges, social games and apps. This virtual reality platform powered by the Ethereum blockchain has its own marketplace to buy and sell land, estates, avatar wearables, and other digital game assets. Decentraland is controlled via the DAO, which owns the most important smart contracts. The virtual world uses two tokens: MANA and LAND. MANA is an ERC-20 token that must be burned to acquire non-fungible ERC-721 LAND tokens. MANA tokens can also be used to make payments on the Decentraland marketplace.
6. Enjin Coin (ENJ)
Market cap: $1.5 billion
Enjin offers a suite of integrated products that make NFTs easy for individuals, businesses, and developers. Its ecosystem consists of Enjin Network social gaming platform; Enjin Wallet for storing NFTs and crypto, developers’ platform for creating, managing, and monetising blockchain projects, fungibles and NFTs; Marketplace which trades digital art and branded crypto-collectables, digital fashion and gaming items you can use in multiple worlds; and a new Efinity blockchain that is marketed as a scalable, decentralised, cross-chain network designed to bring non-fungible tokens to everyone. Enjin Coin uses a series of smart contracts to which game developers send ENJ to mint new, unique fungible or nonfungible ERC-1155 tokens. Thus, every asset minted with the Enjin Platform contains ENJ, a minting resource that is locked inside NFTs and removed from circulation.
7. Chiliz (CHZ)
Market cap: $1.9 billion
Chiliz is a currency option for blockchain-backed products & services geared towards mainstream consumers such as gaming and entertainment platforms. The FinTech provider operates its own platform, Socios, which enables users to participate in the governance of their favourite sports brands with the help of fan tokens. Every sporting organisation using the Chiliz technology has a limited supply of fan tokens that are offered at an initial FTO (fan token offering). For sports clubs and associations, fan tokens offer a way of connecting with their fans and unlocking new revenue streams. Clubs determine the amount of influence fans have (from new jersey designs to deciding team matchups) and monetise fan engagement. Therefore, Chiliz has developed partnerships with some of the biggest sporting institutions in the world. The native CHZ token is used to purchase fan tokens and acts as the platform’s internal currency. All branded Fan Tokens are minted using the Chiliz blockchain, whereas all on-platform voting is executed as a series of smart contracts.
8. Theta (THETA)
Market cap: $6.6 billion
The Theta blockchain is an end-to-end infrastructure for decentralised video streaming and delivery that provides both technical and economic solutions. Theta mainnet operates as a decentralised network in which users share bandwidth and computing resources on a peer-to-peer (P2P) basis. Theta offers an Ethereum-compatible dev environment where DApps (for trading, lending, DAOs, stablecoins and many more) can port over and run seamlessly. Recently, a cross-chain bridge Meter Passport added support for Theta blockchain — for the first time allowing tokens to be moved between Theta and other leading blockchains. Thus, the first Theta / Ethereum bridge was launched on Theta Testnet. Users can also create NFTs on Theta Blockchain with Remix with the Theta web wallet. Its native cryptocurrency token THETA performs various governance tasks within the network.
9. Tezos (XTZ)
Market cap: $5.6 billion
Tezos is a blockchain network that can evolve and improve over time. This open-source platform supports a few NFT marketplaces like HEN, Kalamint, or Bazaar Market. The project claims to make NFts eco-friendly and more accessible for people around the world. Namely, Tezos consumes less energy than Ethereum and charges only a fraction of 1 Tez to mint an NFT. XTZ holders can vote on proposals for protocol upgrades that have been put forward by Tezos developers. Tezos holders who stake (“bake”) their tokens can receive Tezos tokens as a reward for creating and verifying blocks. Bakers can also earn rewards for submitting proposals that are successfully implemented.
10. Axie Infinity (AXS)
Market cap: $7.6 billion
Axie Infinity is a blockchain-based game world that is partially owned and operated by its players. The game enables players to collect, breed, raise, battle and trade creatures known as Axies. Each Axie is an NFT. These characters can have any combination of body parts and forms, making them unique and rare to various extents. They have different attributes and strengths and may enter team battles in the metaverse. The winning team earns experience points that are used to improve Axies’ stats or evolve their body parts. Axies can also be bred together. As a result, their owners get new and unique offspring, which can be either used in-game or sold on the Axie marketplace. The Axie Infinity ecosystem has its own unique governance token — Axie Infinity Shards (AXS). The coin is used to participate in key governance votes and gives holders a say in how funds in the Axie Community Treasury are spent. AXS holders can receive rewards for playing, voting, and staking the token and will get paid dividends from Axie Infinity’s community treasury. The popularity of the game is huge, bringing the three-year-old startup a valuation of about $3 billion.