Top NFT Collection Prices Ranked by Market Cap
# | NFT | Floor Price | 24h% | Last 7 Days | Market Cap | 24h Volume | 24h Sales | 24h Owners | |||
---|---|---|---|---|---|---|---|---|---|---|---|
1 |
CryptoPunks
Ethereum
|
Buy
|
29.50 ETH
$93,741
|
1.8% |
$936,847,273
294,823 ETH
|
406.71 ETH
$1,292,386
|
12 | 0.1% | |||
2 |
Bored Ape Yacht Club
Ethereum
|
Buy
|
11.20 ETH
$35,590
|
1.7% |
$355,826,430
111,978 ETH
|
258.88 ETH
$822,621
|
22 | 0.0% | |||
3 |
Pudgy Penguins
Ethereum
|
Buy
|
9.69 ETH
$30,792
|
3.7% |
$273,675,083
86,125 ETH
|
329.06 ETH
$1,045,638
|
35 | 0.2% | |||
4 |
Infinex Patrons
Ethereum
|
0.89 ETH
$2,828.12
|
2.2% |
$193,050,126
60,752 ETH
|
10.48 ETH
$33,296
|
12 | 1.1% | ||||
5 |
Autoglyphs
Ethereum
|
99.00 ETH
$314,588
|
0.0% |
$161,069,233
50,688 ETH
|
0 ETH
$0.00
|
0 | 0.0% | ||||
6 |
Milady Maker
Ethereum
|
Buy
|
4.80 ETH
$15,248.92
|
0.3% |
$152,153,691
47,882 ETH
|
134.64 ETH
$427,844
|
28 | 0.1% | |||
7 |
Bitcoin Puppets
Bitcoin
|
0.17 BTC
$15,058.41
|
24.6% |
$150,599,165
1,710 BTC
|
6.71 BTC
$590,878
|
34 | 0.1% | ||||
8 |
Azuki
Ethereum
|
Buy
|
4.64 ETH
$14,744.34
|
1.3% |
$147,443,424
46,400 ETH
|
14.82 ETH
$47,090
|
3 | 0.0% | |||
9 |
Chromie Squiggle by Snowfro
Ethereum
|
3.90 ETH
$12,392.87
|
30.0% |
$123,903,957
38,992 ETH
|
65.91 ETH
$209,428
|
20 | 0.2% | ||||
10 |
Mutant Ape Yacht Club
Ethereum
|
Buy
|
1.98 ETH
$6,281.08
|
0.7% |
$122,474,868
38,542 ETH
|
167.93 ETH
$533,626
|
81 | 0.1% | |||
11 |
NodeMonkes
Bitcoin
|
0.13 BTC
$11,883.81
|
15.0% |
$118,838,071
1,349 BTC
|
3.24 BTC
$285,472
|
22 | 0.1% | ||||
12 |
Fidenza by Tyler Hobbs
Ethereum
|
28.99 ETH
$92,120
|
7.4% |
$92,028,245
28,961 ETH
|
27.00 ETH
$85,797
|
1 | 0.0% | ||||
13 |
Mad Lads
Solana
|
41.30 SOL
$8,590.87
|
29.6% |
$85,616,656
411,596 SOL
|
4,308 SOL
$896,094
|
118 | 0.7% | ||||
14 |
Ordinal Maxi Biz (OMB)
Bitcoin
|
0.16 BTC
$14,045.71
|
0.3% |
$73,641,656
836.26 BTC
|
1.75 BTC
$154,088
|
11 | 0.1% | ||||
15 |
Captainz
Ethereum
|
2.18 ETH
$6,940.01
|
0.3% |
$69,393,124
21,838 ETH
|
45.50 ETH
$144,590
|
19 | 0.1% | ||||
16 |
Doodles
Ethereum
|
Buy
|
2.04 ETH
$6,479.25
|
21.0% |
$64,779,527
20,386 ETH
|
772.34 ETH
$2,454,242
|
336 | 0.2% | |||
17 |
Lil Pudgys
Ethereum
|
0.92 ETH
$2,923.45
|
7.1% |
$63,394,954
19,950 ETH
|
74.14 ETH
$235,595
|
84 | 0.1% | ||||
18 |
Space Doodles
Ethereum
|
2.79 ETH
$8,865.67
|
69.1% |
$62,077,432
19,536 ETH
|
9.10 ETH
$28,913
|
5 | 0.8% | ||||
19 |
Quantum Cats
Bitcoin
|
0.21 BTC
$18,131.73
|
4.7% |
$60,433,071
686.26 BTC
|
1.00 BTC
$88,475
|
5 | 0.0% | ||||
20 |
Runestone
Bitcoin
|
0.006 BTC
$510.75
|
10.4% |
$57,408,650
651.92 BTC
|
0.73 BTC
$64,151
|
122 | 0.0% | ||||
21 |
Creepz by OVERLORD
Ethereum
|
1.49 ETH
$4,734.71
|
2.8% |
$49,207,877
15,486 ETH
|
3.94 ETH
$12,519.98
|
2 | 0.1% | ||||
22 |
bitmap
Bitcoin
|
Buy
|
0.0007 BTC
$57.86
|
43.4% |
$45,920,249
521.46 BTC
|
0.78 BTC
$68,677
|
1,298 | 0.1% | |||
23 |
Redacted Remilio Babies
Ethereum
|
1.22 ETH
$3,876.74
|
0.8% |
$38,759,693
12,198 ETH
|
43.39 ETH
$137,893
|
28 | 0.1% | ||||
24 |
Neo Tokyo Citizen V2
Ethereum
|
5.99 ETH
$19,034.18
|
19.1% |
$38,049,333
11,974 ETH
|
9.02 ETH
$28,647
|
2 | 0.3% | ||||
25 |
Mocaverse
Ethereum
|
1.28 ETH
$4,058.10
|
10.0% |
$36,068,408
11,351 ETH
|
2.33 ETH
$7,403.95
|
2 | 0.2% | ||||
26 |
Bitcoin Frogs
Bitcoin
|
0.040 BTC
$3,557.66
|
6.0% |
$35,576,596
404.00 BTC
|
1.11 BTC
$97,508
|
26 | 0.0% | ||||
27 |
Pirate Nation - Founder's Pirates
Ethereum
|
0.90 ETH
$2,856.34
|
1.8% |
$28,560,494
8,988 ETH
|
21.76 ETH
$69,139
|
25 | 0.3% | ||||
28 |
Retardio Cousins
Solana
|
28.74 SOL
$5,978.89
|
1.3% |
$26,570,184
127,734 SOL
|
537.62 SOL
$111,831
|
20 | 0.0% | ||||
29 |
Sproto Gremlins
Ethereum
|
2.49 ETH
$7,899.66
|
5.7% |
$26,305,878
8,278 ETH
|
4.65 ETH
$14,782.16
|
2 | 0.1% | ||||
30 |
The Potatoz
Ethereum
|
0.76 ETH
$2,415.02
|
1.9% |
$24,147,801
7,599 ETH
|
5.25 ETH
$16,669.68
|
7 | 0.0% | ||||
31 |
Meebits
Ethereum
|
Buy
|
0.37 ETH
$1,175.10
|
1.4% |
$23,500,799
7,396 ETH
|
10.27 ETH
$32,633
|
27 | 0.1% | |||
32 |
Decentraland
Ethereum
|
0.075 ETH
$238.32
|
0.0% |
$23,443,743
7,378 ETH
|
10.80 ETH
$34,313
|
13 | 0.0% | ||||
33 |
Bit Bears by Berachain
Ethereum
|
3.15 ETH
$10,009.63
|
11.3% |
$22,831,964
7,185 ETH
|
17.64 ETH
$56,054
|
6 | 0.3% | ||||
34 |
Solana Monkey Business
Solana
|
Buy
|
21.99 SOL
$4,574.15
|
12.8% |
$22,838,740
109,796 SOL
|
856.17 SOL
$178,094
|
43 | 0.0% | |||
35 |
Tomorrowland: A Letter from the Universe
Solana
|
16.71 SOL
$3,475.35
|
4.1% |
$22,551,559
108,415 SOL
|
65.50 SOL
$13,624.75
|
4 | 22.2% | ||||
36 |
DeGods
Ethereum
|
Buy
|
0.78 ETH
$2,469.04
|
3.6% |
$22,196,686
6,985 ETH
|
11.14 ETH
$35,388
|
15 | 0.3% | |||
37 |
Bitcoin Wizards
Bitcoin
|
0.19 BTC
$16,414.55
|
21.8% |
$21,962,666
249.40 BTC
|
1.02 BTC
$89,549
|
6 | 0.1% | ||||
38 |
Otherdeed Expanded
Ethereum
|
0.12 ETH
$374.00
|
4.9% |
$20,599,055
6,482 ETH
|
8.43 ETH
$26,791
|
59 | 0.0% | ||||
39 |
Honey Comb
Ethereum
|
0.39 ETH
$1,239.22
|
2.5% |
$20,347,952
6,403 ETH
|
3.90 ETH
$12,397.32
|
10 | 0.0% | ||||
40 |
Azuki Elementals
Ethereum
|
0.38 ETH
$1,216.95
|
0.0% |
$19,897,097
6,262 ETH
|
7.83 ETH
$24,875
|
20 | 0.1% | ||||
41 |
VeeFriends
Ethereum
|
0.59 ETH
$1,874.70
|
9.3% |
$19,225,002
6,050 ETH
|
6.66 ETH
$21,148
|
9 | 0.1% | ||||
42 |
Clone X
Ethereum
|
0.31 ETH
$978.40
|
2.3% |
$19,179,543
6,036 ETH
|
12.92 ETH
$41,071
|
29 | 0.0% | ||||
43 |
OnChainMonkey (OCM) Genesis
Bitcoin
|
0.022 BTC
$1,910.92
|
2.0% |
$19,109,211
217.00 BTC
|
0.044 BTC
$3,901.10
|
2 | 0.0% | ||||
44 |
Live Like A Cat
Ethereum
|
0.27 ETH
$857.97
|
29.6% |
$19,065,699
6,000 ETH
|
0.50 ETH
$1,588.83
|
1 | 0.1% | ||||
45 |
MAX PAIN AND FRENS BY XCOPY
Ethereum
|
0.86 ETH
$2,726.43
|
1.9% |
$19,000,507
5,979 ETH
|
7.43 ETH
$23,626
|
9 | 0.3% | ||||
46 |
Winds of Yawanawa by Yawanawa and Refik Anadol
Ethereum
|
5.95 ETH
$18,906.86
|
8.2% |
$18,906,863
5,950 ETH
|
5.50 ETH
$17,476.91
|
1 | 0.0% | ||||
47 |
Claynosaurz
Solana
|
8.54 SOL
$1,777.25
|
19.2% |
$17,772,502
85,440 SOL
|
697.31 SOL
$145,048
|
85 | 0.4% | ||||
48 |
Otherdeed for Otherside
Ethereum
|
Buy
|
0.12 ETH
$373.69
|
1.1% |
$17,646,149
5,553 ETH
|
1.18 ETH
$3,761.68
|
9 | 0.0% | |||
49 |
Project AEON
Ethereum
|
1.60 ETH
$5,081.08
|
2.5% |
$16,935,234
5,329 ETH
|
50.36 ETH
$160,032
|
31 | 0.2% | ||||
50 |
GGSG: Galactic Geckos
Solana
|
7.99 SOL
$1,661.95
|
7.6% |
$16,619,494
79,897 SOL
|
96.75 SOL
$20,125
|
10 | 0.0% | ||||
51 |
Band Bears
Ethereum
|
4.44 ETH
$14,099.28
|
8.8% |
$16,383,361
5,156 ETH
|
12.55 ETH
$39,880
|
3 | 0.2% | ||||
52 |
OnChainMonkey
Ethereum
|
0.49 ETH
$1,572.20
|
8.7% |
$15,722,045
4,948 ETH
|
4.07 ETH
$12,938.80
|
9 | 0.1% | ||||
53 |
TOPIA Worlds
Ethereum
|
0.49 ETH
$1,572.50
|
20.9% |
$15,723,396
4,948 ETH
|
2.80 ETH
$8,886.51
|
6 | 0.3% | ||||
54 |
Terraforms by Mathcastles
Ethereum
|
Buy
|
0.50 ETH
$1,572.94
|
2.9% |
$15,589,426
4,906 ETH
|
4.39 ETH
$13,956.60
|
9 | 0.1% | |||
55 |
Synclub's SnBNB Early Adopters
BNB Smart Chain
|
1.00 BNB
$609.50
|
0.0% |
$15,459,464
25,364 BNB
|
2.75 BNB
$1,675.44
|
38 | 0.1% | ||||
56 |
Tensorians
Solana
|
7.95 SOL
$1,653.48
|
17.4% |
$14,663,090
70,492 SOL
|
516.12 SOL
$107,360
|
68 | 0.0% | ||||
57 |
O.P.I.U.M.
Bitcoin
|
0.21 BTC
$18,378.31
|
9.8% |
$14,279,944
162.16 BTC
|
0.19 BTC
$16,775.60
|
1 | 0.4% | ||||
58 |
Baby Bears
Ethereum
|
7.79 ETH
$24,739
|
0.0% |
$14,076,512
4,430 ETH
|
14.70 ETH
$46,712
|
2 | 0.0% | ||||
59 |
Boo Bears
Ethereum
|
15.79 ETH
$50,175
|
9.3% |
$13,597,493
4,279 ETH
|
14.44 ETH
$45,885
|
1 | 0.7% | ||||
60 |
rektguy
Ethereum
|
0.46 ETH
$1,460.94
|
1.0% |
$12,876,714
4,052 ETH
|
1.85 ETH
$5,894.56
|
4 | 0.0% | ||||
61 |
DeGods (Solana)
Solana
|
11.64 SOL
$2,421.52
|
9.6% |
$12,652,464
60,826 SOL
|
578.84 SOL
$120,405
|
53 | 0.0% | ||||
62 |
Azuki Elemental Beans
Ethereum
|
0.73 ETH
$2,331.43
|
0.5% |
$12,559,414
3,952 ETH
|
4.97 ETH
$15,796.78
|
7 | 0.1% | ||||
63 |
Pizza Ninjas
Bitcoin
|
0.095 BTC
$8,365.78
|
5.0% |
$12,548,676
142.50 BTC
|
0.28 BTC
$24,930
|
3 | 0.0% | ||||
64 |
Azra Games - The Hopeful
Ethereum
|
0.70 ETH
$2,221.18
|
4.1% |
$12,338,679
3,883 ETH
|
0.69 ETH
$2,198.94
|
1 | 0.0% | ||||
65 |
BEANZ Official
Ethereum
|
0.19 ETH
$613.42
|
3.0% |
$12,237,639
3,851 ETH
|
2.62 ETH
$8,314.03
|
12 | 0.0% | ||||
66 |
Kanpai Pandas
Ethereum
|
0.47 ETH
$1,492.55
|
5.1% |
$11,943,358
3,759 ETH
|
7.97 ETH
$25,325
|
17 | 0.1% | ||||
67 |
Parallel Avatars
Ethereum
|
0.34 ETH
$1,080.37
|
9.8% |
$11,885,179
3,740 ETH
|
5.21 ETH
$16,556.24
|
16 | 0.2% | ||||
68 |
MoonCats - Acclimated
Ethereum
|
0.18 ETH
$560.85
|
1.7% |
$11,286,622
3,552 ETH
|
2.60 ETH
$8,270.81
|
9 | 0.0% | ||||
69 |
DigiDaigaku
Ethereum
|
1.74 ETH
$5,525.48
|
0.6% |
$11,172,528
3,516 ETH
|
1.72 ETH
$5,462.24
|
1 | 0.0% | ||||
70 |
Nouns
Ethereum
|
Buy
|
2.67 ETH
$8,484.03
|
3.5% |
$11,156,505
3,511 ETH
|
4.94 ETH
$15,697.64
|
2 | 0.3% | |||
71 |
Based Angels
Bitcoin
|
0.023 BTC
$1,981.37
|
19.6% |
$11,006,509
124.99 BTC
|
1.29 BTC
$113,920
|
50 | 0.0% | ||||
72 |
Moonbirds
Ethereum
|
Buy
|
0.35 ETH
$1,097.37
|
10.3% |
$10,973,731
3,453 ETH
|
22.12 ETH
$70,303
|
62 | 0.0% | |||
73 |
Pixelmon
Ethereum
|
0.27 ETH
$867.50
|
0.1% |
$10,901,020
3,431 ETH
|
2.77 ETH
$8,816.82
|
7 | 0.2% | ||||
74 |
mfers
Ethereum
|
0.34 ETH
$1,080.09
|
9.7% |
$10,821,388
3,405 ETH
|
9.91 ETH
$31,489
|
24 | 0.0% | ||||
75 |
Bored Ape Kennel Club
Ethereum
|
0.35 ETH
$1,112.17
|
0.0% |
$10,679,098
3,361 ETH
|
6.07 ETH
$19,302.70
|
13 | 0.1% | ||||
76 |
RSIC METAPROTOCOL
Bitcoin
|
0.006 BTC
$501.06
|
5.0% |
$10,522,210
119.49 BTC
|
0.12 BTC
$10,260.41
|
20 | 0.1% | ||||
77 |
Lifinity Flares
Solana
|
5.00 SOL
$1,040.06
|
0.2% |
$9,880,546
47,500 SOL
|
34.63 SOL
$7,203.41
|
7 | 0.1% | ||||
78 |
ChameleonTravelClub
Ethereum
|
3.00 ETH
$9,532.98
|
0.0% |
$9,532,980
3,000 ETH
|
2.81 ETH
$8,929.22
|
2 | 0.8% | ||||
79 |
Natcats
Bitcoin
|
0.013 BTC
$1,172.09
|
10.7% |
$9,451,736
107.33 BTC
|
0.29 BTC
$25,741
|
21 | 0.2% | ||||
80 |
World of Women
Ethereum
|
0.30 ETH
$939.32
|
10.4% |
$9,393,163
2,956 ETH
|
5.25 ETH
$16,694.47
|
19 | 0.1% | ||||
81 |
Degen Fat Cats
Solana
|
2.20 SOL
$457.63
|
0.0% |
$9,151,590
43,996 SOL
|
13.73 SOL
$2,855.46
|
5 | 0.2% | ||||
82 |
My Pet Hooligan
Ethereum
|
0.32 ETH
$1,020.03
|
4.7% |
$9,066,017
2,853 ETH
|
6.23 ETH
$19,784.71
|
14 | 0.1% | ||||
83 |
CrypToadz
Ethereum
|
0.40 ETH
$1,271.06
|
4.7% |
$8,925,412
2,809 ETH
|
8.07 ETH
$25,635
|
18 | 0.1% | ||||
84 |
Pixels - Farm Land
Ethereum
|
0.55 ETH
$1,747.71
|
6.6% |
$8,738,549
2,750 ETH
|
2.77 ETH
$8,799.26
|
4 | 0.4% | ||||
85 |
Travel Tiger Club Official
Ethereum
|
1.78 ETH
$5,646.07
|
0.0% |
$8,559,437
2,694 ETH
|
3.55 ETH
$11,292.60
|
2 | 0.0% | ||||
86 |
Sappy Seals
Ethereum
|
0.27 ETH
$854.47
|
1.9% |
$8,542,164
2,688 ETH
|
5.74 ETH
$18,248.66
|
20 | 0.1% | ||||
87 |
Opepen Edition
Ethereum
|
0.17 ETH
$533.21
|
1.3% |
$8,531,331
2,685 ETH
|
4.54 ETH
$14,421.44
|
19 | 0.1% | ||||
88 |
Pudgy Rods
Ethereum
|
0.36 ETH
$1,143.96
|
12.5% |
$8,459,567
2,662 ETH
|
4.31 ETH
$13,698.57
|
13 | 0.0% | ||||
89 |
Cool Cats
Ethereum
|
0.26 ETH
$841.76
|
3.1% |
$8,390,682
2,641 ETH
|
29.65 ETH
$94,203
|
98 | 0.3% | ||||
90 |
Forgotten Runes Wizards Cult
Ethereum
|
0.28 ETH
$889.42
|
0.0% |
$8,280,477
2,606 ETH
|
0.79 ETH
$2,520.20
|
3 | 0.0% | ||||
91 |
Nakamigos
Ethereum
|
0.13 ETH
$413.10
|
4.7% |
$8,232,586
2,591 ETH
|
3.29 ETH
$10,464.01
|
22 | 0.0% | ||||
92 |
Bitcoin Punks
Bitcoin
|
0.009 BTC
$822.49
|
6.3% |
$8,224,886
93.40 BTC
|
0.091 BTC
$8,021.99
|
9 | 0.0% | ||||
93 |
Overworld Incarna
Ethereum
|
0.42 ETH
$1,330.48
|
0.3% |
$7,982,899
2,512 ETH
|
1.51 ETH
$4,802.72
|
4 | 0.1% | ||||
94 |
Skyborne - NexianGems
Ethereum
|
0.71 ETH
$2,251.05
|
0.2% |
$7,502,764
2,361 ETH
|
2.89 ETH
$9,174.48
|
4 | 0.4% | ||||
95 |
Jirasan
Ethereum
|
0.26 ETH
$838.27
|
5.0% |
$7,484,881
2,355 ETH
|
4.98 ETH
$15,828.18
|
19 | 0.3% | ||||
96 |
SchizoPosters
Ethereum
|
0.40 ETH
$1,270.75
|
2.5% |
$7,057,725
2,221 ETH
|
0.77 ETH
$2,446.48
|
2 | 0.0% | ||||
97 |
Honey Badgers
Bitcoin
|
0.008 BTC
$678.07
|
5.5% |
$6,780,688
77.00 BTC
|
0.11 BTC
$10,086.67
|
15 | 0.2% | ||||
98 |
onchain gaias
Base
|
0.38 ETH
$1,217.67
|
0.0% |
$6,765,391
2,129 ETH
|
2.18 ETH
$6,931.11
|
5 | 0.0% | ||||
99 |
VeeFriends Series 2
Ethereum
|
0.039 ETH
$122.34
|
17.7% |
$6,762,583
2,128 ETH
|
2.63 ETH
$8,348.66
|
46 | 0.0% | ||||
100 |
Degenerate Ape Academy: Higher Self
Solana
|
3.23 SOL
$670.84
|
4.9% |
$6,708,371
32,250 SOL
|
12.34 SOL
$2,566.86
|
4 | 0.2% |
Featured NFT Articles
What Are NFTs?
A non-fungible token (NFT) is a digital asset or a unique identifier that assigns, links, or proves ownership of unique physical and digital goods. These goods can be anything ranging from artwork, music, digital real estate, or videos. In simple terms, NFTs are unique crypto tokens managed on a blockchain and they can be considered as modern-day collectibles. Each NFT is coded with a unique ID and other metadata that are impossible to replicate on other tokens. The blockchain acts as a decentralized ledger that is used to track the transaction history and ownership of the NFT, and this makes it difficult to be counterfeited or altered. Any digital object can become an NFT and anyone can make an NFT. To convert a digital object to an NFT, you just need to mint or put the object on the blockchain as a token and put the digital artwork for sale. NFT creators can choose to attach a commission to the file and get paid for every sale or resale of the file.
What is a NFT floor price?
Floor price refers to the lowest price for an NFT collection that someone can buy directly from the market. You can now track market data for NFT collections using our new NFT Data API.
How to Calculate NFT Floor Prices?
NFT floor price is the lowest price an individual is willing to sell an NFT for. Alternatively, the NFT floor price can also be the lowest amount of ETH a person is able to spend to own an NFT or become a member of an NFT project. NFT floor price is often determined and set by the owner of the NFT. The seller can decide to choose a floor price that is less than that of other similar NFTs within the NFT project. Knowing how to calculate the floor price of an NFT will save you the trouble of making a bad investment. In most cases, NFT investors use the floor price to determine the rarity of an NFT and find out if the NFT project has the chance of appreciating in value. The major determinant of the value of NFT floor price is the demand. If the NFT is in high demand, the seller will not want to sell it at a price lower than the value of other NFTs in the project. But if the reverse is the case and the demand for the NFT is low, the seller will most likely pick a low floor price in order to sell out the NFT quickly before it freezes out. As stated above, the floor price of an NFT is determined by the demand for the NFT. Below are factors that can affect the demand for an NFT and ultimately affect the floor price of NFTs: - The utility of the NFT - The uniqueness of the product - Creator's popularity - The product appeal to a wide range of buyers - The diversity of the NFT creators
What is NFT Market Cap?
NFT market cap is the total value of all NFTs in a collection in circulation, calculated by multiplying the total supply of NFTs in a collection by the current floor price. It serves as a valuation indicator to compare NFT assets with each other and with other cryptocurrencies. The rank that we assign to a collection reflects its position across all NFT collections in all the chains that we are tracking, hence you can consider it as a global market cap ranking.
How Do NFTs Differ From Cryptocurrencies?
Cryptocurrencies are identical to each other and can serve as a medium of commercial exchange, NFTs on the other hand, cannot be exchanged or traded at equivalency. This is because they are not identical to each other. Fungible items like cryptocurrency and fiat money can be exchanged with one another without losing value because their value is not tied to their uniqueness. An example of a fungible item is a dollar bill. Every $1 bill has the same value, so exchanging one bill with another bill that has a different serial number will in no way reduce the value of the $1 bill. The reverse is the case with NFTs. Each token is unique and is not always worth the same amount as other similar tokens.
Why Do NFTs Have Value?
The primary reason for NFT value is that each token is unique and cannot be interchanged. NFTs are also valuable because they help verify the authenticity and ownership of a non-fungible asset. Even though these digital assets may be duplicated, the original is unique and irreplaceable. Plainly put, the value of NFTs is tied to the non-fungibility of the tokens. Unlike fungible tokens, NFTs cannot be broken down into smaller units. Fungible tokens such as bitcoin are divisible into smaller units. For instance, bitcoin can be split into Satoshi. The implication of this is that even though an NFT asset can be copied, the digital certificate of ownership that can be bought or sold along with the artwork can't be duplicated. Only the original asset has the ownership certificate. So while other people may have access to the asset, none of them can claim ownership of it. Even though the NFTs are virtual, the fact that their ownership and authenticity can be verified makes them valuable.
What are NFTs Used For?
NFT buyers can choose to do whatever they like with their NFT after purchase. In most cases, the use of the NFT is dependent on what type of NFT it is.
Some may choose to hold NFTs that they believe will have long-term value, while others may sell their NFTs after buying just to make some profit. Savvy NFT traders take advantage of price fluctuations and actively trade NFTs to generate profit.
On the other hand, some NFT buyers like art collectors are not interested in reselling the NFT. They buy NFTs because they like collecting them. This group of buyers derive joy from knowing that they are the sole owners of certain digital assets.
Also, the importance and uses of NFTs keeps increasing as more categories are being discovered.
Below are some things you can use NFTs for:
1. Verifying the Authenticity of Products
NFTs are used to store information regarding the manufacturing process and ownership of a product on the blockchain.
This information cannot be tampered with or duplicated.
The fact that all this information about a product can be accessed easily helps to solve the problem of the circulation of fake copies of a product.
2. Gaming Industry
The uses of NFTs in the gaming industry cannot be overemphasized. Game developers use NFTs to create a constant stream of revenue by having gamers buy and trade in-game NFT items.
The use of NFTs in the gaming industry also enables gamers to make easier and safer transactions devoid of middlemen within the blockchain.
3. Intellectual Property and Patents
You can use NFTs to protect intellectual property and patents and also prove your ownership of any piece of digital content.
The traditional IP right tools like trademarks and copyrights are not as efficient as NFTs when it comes to protecting and proving the real ownership of a piece of content.
With NFTs, the creator of content can prove that he is the original creator of a digital asset at any given time.
4. Utility in the Metaverse
NFTs play a leading role in shaping the virtual reality future like the metaverse.
Literally, every item sold in the metaverse is an NFT. Transactions are already being made in the metaverse using NFT coins.
The future avatar of every metaverse user is also an NFT.
How to Mint NFTs
Anyone can mint NFTs. This minting can be done on many of the available NFT marketplaces like OpenSea, SuperRare, and Rarible.
Because many of these marketplaces are only available on the Ethereum network, you must have Ethereum's native currency Ether, and a wallet compatible with the Ethereum network to be able to mint NFTs.
The process of minting NFTs in each marketplace may be slightly different, but they are similar. The major difference in the minting process is the fees charged by each marketplace.
The minting steps below are applicable to most marketplaces:
Step 1: Create a Crypto Exchange Account.
You will need Ether in your wallet to pay the minting fee.
Step 2: Create a Crypto Wallet
To get started with the minting process you need to open a crypto wallet and connect it to the NFT Marketplace.
If you are using a wallet like Coinbase or MetaMask, you may be asked to connect your wallet through a QR code scanner on your smartphone or download the wallet to your computer.
Step 3: Send Ether to your Wallet
After setting up your wallet, the next thing to do is to send Ether from your exchange to your wallet.
In most cases, you will be able to send crypto to a wallet with a public address.
Your wallet's public address will always be visible when you open your wallet plugin on the browser or on your smartphone.
Step 4: Connect Your Wallet
After opening your wallet, go to the website of the platform you are using and click on the profile option.
When you do this, you will see an option for connecting your wallet to the marketplace.
Select the option.
Once the wallet is connected and your marketplace profile has been created, you will need to complete your profile by entering a username and your email address to verify your account.
Your profile can include information such as what type of crypto you accept as payment, your website, and social media link, and some information about yourself.
Step 5: Mint Your NFT
After opening your wallet, go to the website of the platform you are using and click on the profile option.
When you do this, you will see an option for connecting your wallet to the marketplace.
Select the option.
Once the wallet is connected and your marketplace profile has been created, you will need to complete your profile by entering a username and your email address to verify your account.
Your profile can include information such as what type of crypto you accept as payment, your website, and social media link, and some information about yourself.
Step 6: Sell Your NFT
After creating your NFT, you will need to list it for sale.
To do this, click on the "Sell" option on your NFT page. You will be redirected to a new page where you can choose to sell your NFT for a fixed price or auction it.
If you are selling at a fixed price, set the price you want to sell at, then complete the listing.
Before finally listing your NFT for sale, your platform may ask you to initialize your wallet. You will also need to confirm the selling price through your wallet.
Once this is done, your NFT has been minted and is ready for sale.