Top NFT Collection Prices Ranked by 24H Trading Volume
# | NFT | Floor Price | 24h% | Last 7 Days | Market Cap | 24h Volume | 24h Sales | 24h Owners | |||
---|---|---|---|---|---|---|---|---|---|---|---|
1 |
Bored Ape Yacht Club
Ethereum
|
Buy
|
12.82 ETH
$41,487
|
7.3% |
128,204 ETH
$414,787,871
|
730.12 ETH
$2,362,206
|
59 | 0.0% | |||
2 |
Pudgy Penguins
Ethereum
|
11.25 ETH
$36,398
|
9.2% |
99,990 ETH
$323,504,140
|
690.28 ETH
$2,233,305
|
63 | 0.2% | ||||
3 |
sharx by sharky.fi
Solana
|
3.11 SOL
$496.37
|
1.7% |
31,464 SOL
$5,017,357
|
8,779 SOL
$1,399,944
|
2,818 | 0.4% | ||||
4 |
My Pet Hooligan
Ethereum
|
0.60 ETH
$1,941.22
|
4.2% |
5,333 ETH
$17,253,554
|
426.33 ETH
$1,379,335
|
669 | 0.5% | ||||
5 |
Mutant Ape Yacht Club
Ethereum
|
Buy
|
2.27 ETH
$7,328.10
|
1.9% |
44,149 ETH
$142,839,356
|
349.88 ETH
$1,131,980
|
154 | 0.0% | |||
6 |
DeGods
Ethereum
|
Buy
|
1.70 ETH
$5,491.81
|
27.4% |
15,256 ETH
$49,371,383
|
286.99 ETH
$928,762
|
180 | 1.0% | |||
7 |
Bitcoin Puppets
Bitcoin
|
0.38 BTC
$25,429
|
0.3% |
3,810 BTC
$254,315,556
|
13.41 BTC
$895,145
|
33 | 0.0% | ||||
8 |
Degenerate Ape Academy
Solana
|
11.64 SOL
$1,855.42
|
5.8% |
93,932 SOL
$14,978,817
|
5,405 SOL
$861,831
|
434 | 0.4% | ||||
9 |
Froganas
Solana
|
2.29 SOL
$364.20
|
0.7% |
12,693 SOL
$2,023,112
|
4,987 SOL
$794,838
|
1,943 | 0.6% | ||||
10 |
CryptoPunks
Ethereum
|
Buy
|
37.99 ETH
$122,912
|
1.3% |
379,672 ETH
$1,228,377,669
|
244.69 ETH
$791,661
|
2 | 0.0% | |||
11 |
NodeMonkes
Bitcoin
|
0.38 BTC
$25,029
|
1.3% |
3,750 BTC
$250,285,558
|
11.31 BTC
$754,601
|
28 | 0.2% | ||||
12 |
Milady Maker
Ethereum
|
Buy
|
4.88 ETH
$15,805.54
|
1.2% |
48,733 ETH
$157,707,705
|
213.55 ETH
$691,104
|
44 | 0.1% | |||
13 |
Rune Pups
Bitcoin
|
0.072 BTC
$4,806.26
|
19.6% |
775.91 BTC
$51,801,833
|
10.12 BTC
$675,413
|
80 | 0.4% | ||||
14 |
Mad Lads
Solana
|
93.00 SOL
$14,830.16
|
5.1% |
926,838 SOL
$147,797,325
|
3,686 SOL
$587,833
|
36 | 0.3% | ||||
15 |
Azuki
Ethereum
|
Buy
|
4.08 ETH
$13,187.47
|
5.2% |
40,750 ETH
$131,874,665
|
176.04 ETH
$569,690
|
44 | 0.0% | |||
16 |
Redacted Remilio Babies
Ethereum
|
1.97 ETH
$6,357.49
|
1.7% |
19,646 ETH
$63,562,206
|
142.23 ETH
$460,154
|
72 | 0.3% | ||||
17 |
Ethlizards
Ethereum
|
0.44 ETH
$1,423.92
|
11.6% |
2,222 ETH
$7,190,810
|
111.51 ETH
$360,883
|
290 | 0.4% | ||||
18 |
Prometheans
Bitcoin
|
0.051 BTC
$3,383.86
|
18.8% |
1,065 BTC
$71,061,076
|
4.49 BTC
$299,693
|
80 | 0.4% | ||||
19 |
Mocaverse
Ethereum
|
4.30 ETH
$13,912.37
|
0.0% |
38,210 ETH
$123,653,168
|
77.60 ETH
$251,141
|
18 | 0.0% | ||||
20 |
Lil Pudgys
Ethereum
|
0.93 ETH
$3,002.42
|
7.9% |
20,093 ETH
$65,008,369
|
77.29 ETH
$250,075
|
85 | 0.0% | ||||
21 |
Captainz
Ethereum
|
3.40 ETH
$10,996.57
|
1.3% |
33,977 ETH
$109,954,675
|
76.13 ETH
$246,381
|
21 | 0.0% | ||||
22 |
QBX Founders Key
Ethereum
|
1.05 ETH
$3,398.00
|
7.5% |
932.40 ETH
$3,017,422
|
71.04 ETH
$229,900
|
78 | 2.8% | ||||
23 |
Forked Nouns
Ethereum
|
36.75 ETH
$118,930
|
0.7% |
17,346 ETH
$56,134,919
|
71.00 ETH
$229,769
|
2 | 0.0% | ||||
24 |
Bitcoin Wizards
Bitcoin
|
0.30 BTC
$19,689.13
|
1.7% |
394.71 BTC
$26,344,057
|
3.42 BTC
$228,016
|
11 | 0.1% | ||||
25 |
Lasogette
Ethereum
|
0.83 ETH
$2,682.80
|
33.7% |
6,419 ETH
$20,772,920
|
63.32 ETH
$204,906
|
88 | 0.2% | ||||
26 |
RSIC METAPROTOCOL
Bitcoin
|
0.037 BTC
$2,436.84
|
16.9% |
766.50 BTC
$51,173,714
|
3.01 BTC
$201,117
|
80 | 0.1% | ||||
27 |
WHAT THE FFFF
Ethereum
|
0.011 ETH
$35.69
|
0.0% |
11.00 ETH
$35,689
|
59.34 ETH
$192,514
|
- | 0.0% | ||||
28 |
TinFun
Ethereum
|
0.13 ETH
$433.65
|
8.2% |
1,340 ETH
$4,336,492
|
49.51 ETH
$160,231
|
361 | 0.0% | ||||
29 |
Rune Doors
Bitcoin
|
0.028 BTC
$1,869.36
|
9.7% |
280.00 BTC
$18,693,594
|
2.37 BTC
$158,152
|
80 | 1.0% | ||||
30 |
Quantum Cats
Bitcoin
|
0.42 BTC
$28,368
|
5.6% |
1,416 BTC
$94,548,972
|
2.34 BTC
$156,112
|
5 | 0.0% | ||||
31 |
Runestone
Bitcoin
|
0.025 BTC
$1,661.90
|
28.7% |
2,799 BTC
$186,797,123
|
2.03 BTC
$135,245
|
80 | 0.0% | ||||
32 |
Bit Bears by Berachain
Ethereum
|
4.30 ETH
$13,912.07
|
3.8% |
9,800 ETH
$31,705,606
|
40.98 ETH
$132,585
|
10 | 0.0% | ||||
33 |
Kanpai Pandas
Ethereum
|
1.75 ETH
$5,663.33
|
7.3% |
13,927 ETH
$45,068,774
|
37.59 ETH
$121,649
|
23 | 0.2% | ||||
34 |
Chromie Squiggle by Snowfro
Ethereum
|
7.20 ETH
$23,295
|
39.9% |
71,957 ETH
$232,806,507
|
37.58 ETH
$121,569
|
7 | 0.1% | ||||
35 |
Clone X
Ethereum
|
0.50 ETH
$1,630.62
|
1.6% |
9,875 ETH
$31,948,815
|
34.80 ETH
$112,604
|
64 | 0.0% | ||||
36 |
TOPIA Worlds
Ethereum
|
0.75 ETH
$2,426.81
|
4.7% |
7,498 ETH
$24,265,715
|
34.04 ETH
$110,151
|
42 | 0.3% | ||||
37 |
IO: Imaginary Ones
Ethereum
|
1.04 ETH
$3,361.54
|
9.7% |
9,235 ETH
$29,877,405
|
32.92 ETH
$106,520
|
31 | 0.1% | ||||
38 |
MATR1X KUKU
Ethereum
|
1.60 ETH
$5,174.66
|
4.6% |
10,659 ETH
$34,494,315
|
32.82 ETH
$106,208
|
21 | 0.1% | ||||
39 |
Coolman's Universe
Ethereum
|
0.11 ETH
$368.53
|
100.0% |
1,138 ETH
$3,684,224
|
29.43 ETH
$95,317
|
308 | 0.9% | ||||
40 |
Doodles
Ethereum
|
1.62 ETH
$5,254.23
|
0.9% |
16,237 ETH
$52,531,818
|
28.47 ETH
$92,117
|
18 | 0.3% | ||||
41 |
OCM Dimensions 300
Bitcoin
|
0.31 BTC
$20,690
|
34.8% |
93.00 BTC
$6,207,082
|
1.36 BTC
$90,770
|
5 | 0.4% | ||||
42 |
Boo Bears
Ethereum
|
33.00 ETH
$106,794
|
0.0% |
8,943 ETH
$28,941,230
|
27.90 ETH
$90,290
|
1 | 0.0% | ||||
43 |
Tensorians
Solana
|
13.75 SOL
$2,192.63
|
8.3% |
121,935 SOL
$19,444,247
|
559.32 SOL
$89,191
|
38 | 0.1% | ||||
44 |
BEEPLE - SPRING/SUMMER COLLECTION 2021
Ethereum
|
7.75 ETH
$25,080
|
91.4% |
3,960 ETH
$12,816,114
|
27.48 ETH
$88,930
|
3 | 0.0% | ||||
45 |
Azuki Elementals
Ethereum
|
0.41 ETH
$1,311.47
|
8.1% |
6,389 ETH
$20,676,561
|
23.22 ETH
$75,145
|
43 | 0.2% | ||||
46 |
Ape Odyssey
Bitcoin
|
0.010 BTC
$634.06
|
12.8% |
47.50 BTC
$3,170,284
|
1.07 BTC
$71,575
|
80 | 0.5% | ||||
47 |
L3E7 Worlds
Ethereum
|
5.60 ETH
$18,118.04
|
5.7% |
3,360 ETH
$10,870,826
|
21.35 ETH
$69,075
|
4 | 0.3% | ||||
48 |
Pixels - Farm Land
Ethereum
|
1.70 ETH
$5,501.49
|
1.3% |
8,500 ETH
$27,507,437
|
20.77 ETH
$67,229
|
10 | 0.4% | ||||
49 |
Pizza Ninjas
Bitcoin
|
0.10 BTC
$6,674.28
|
6.5% |
150.00 BTC
$10,011,422
|
0.99 BTC
$66,062
|
10 | 0.2% | ||||
50 |
Solana Monkey Business
Solana
|
38.80 SOL
$6,187.20
|
7.6% |
193,728 SOL
$30,892,712
|
406.83 SOL
$64,875
|
10 | 0.2% | ||||
51 |
1337 skulls
Ethereum
|
0.028 ETH
$90.68
|
0.0% |
205.26 ETH
$664,793
|
19.79 ETH
$64,099
|
3 | 0.0% | ||||
52 |
Candy Collective: Genesis Collection
Ethereum
|
0.42 ETH
$1,368.90
|
4.4% |
846.00 ETH
$2,737,802
|
19.25 ETH
$62,305
|
48 | 0.4% | ||||
53 |
Early Retired Cats Club
Ethereum
|
0.32 ETH
$1,035.69
|
17.3% |
617.41 ETH
$1,998,883
|
19.09 ETH
$61,793
|
54 | 1.0% | ||||
54 |
Terraforms by Mathcastles
Ethereum
|
1.01 ETH
$3,264.48
|
3.0% |
10,000 ETH
$32,354,293
|
18.10 ETH
$58,563
|
14 | 0.2% | ||||
55 |
Honey Badgers
Bitcoin
|
0.020 BTC
$1,301.88
|
20.4% |
195.00 BTC
$13,018,753
|
0.87 BTC
$58,349
|
32 | 0.4% | ||||
56 |
Pixelmon Trainers - Generation 1
Ethereum
|
0.35 ETH
$1,128.82
|
13.7% |
2,442 ETH
$7,901,732
|
17.21 ETH
$55,669
|
53 | 0.6% | ||||
57 |
Honey Comb
Ethereum
|
0.23 ETH
$744.32
|
11.5% |
3,777 ETH
$12,221,788
|
16.76 ETH
$54,242
|
75 | 0.2% | ||||
58 |
Runers by BVM
Bitcoin
|
0.006 BTC
$367.20
|
10.0% |
102.54 BTC
$6,845,628
|
0.78 BTC
$51,880
|
80 | 0.6% | ||||
59 |
Skyborne - NexianGems
Ethereum
|
0.95 ETH
$3,063.89
|
4.9% |
3,156 ETH
$10,211,947
|
15.84 ETH
$51,248
|
17 | 0.4% | ||||
60 |
BlockGames Dice
Ethereum
|
0.090 ETH
$291.30
|
28.8% |
499.95 ETH
$1,618,192
|
14.95 ETH
$48,378
|
113 | 0.1% | ||||
61 |
Natcats
Bitcoin
|
0.027 BTC
$1,809.27
|
3.2% |
218.53 BTC
$14,589,976
|
0.69 BTC
$46,349
|
24 | 0.1% | ||||
62 |
OnChainShiba
Ethereum
|
0.12 ETH
$388.65
|
0.0% |
360.00 ETH
$1,165,953
|
14.19 ETH
$45,958
|
5 | 2.3% | ||||
63 |
Bad Kids
Stargaze
|
144,444 STARS
$3,364.73
|
1.7% |
1,443,862,224 STARS
$33,633,873
|
1,961,635 STARS
$45,695
|
14 | 0.1% | ||||
64 |
OverTrip Founder's ID
Ethereum
|
0.25 ETH
$793.80
|
20.7% |
217.56 ETH
$704,896
|
13.93 ETH
$45,131
|
60 | 0.3% | ||||
65 |
FLUF World
Ethereum
|
0.48 ETH
$1,553.37
|
10.3% |
4,800 ETH
$15,533,703
|
13.75 ETH
$44,505
|
27 | 0.1% | ||||
66 |
mfers
Ethereum
|
0.38 ETH
$1,228.78
|
1.9% |
3,804 ETH
$12,311,153
|
13.68 ETH
$44,269
|
19 | 0.0% | ||||
67 |
Portals
Solana
|
12.95 SOL
$2,065.06
|
19.4% |
64,737 SOL
$10,323,231
|
272.31 SOL
$43,424
|
18 | 0.1% | ||||
68 |
Azra Games - The Hopeful
Ethereum
|
1.09 ETH
$3,527.45
|
12.1% |
6,055 ETH
$19,594,957
|
13.34 ETH
$43,171
|
12 | 0.3% | ||||
69 |
Muraqqa
Ethereum
|
4.50 ETH
$14,567.70
|
12.8% |
499.50 ETH
$1,617,015
|
12.79 ETH
$41,405
|
4 | 3.8% | ||||
70 |
Bored Ape Kennel Club
Ethereum
|
0.50 ETH
$1,617.04
|
5.2% |
4,799 ETH
$15,526,774
|
12.78 ETH
$41,347
|
26 | 0.0% | ||||
71 |
The Memes by 6529
Ethereum
|
0.030 ETH
$95.56
|
9.3% |
5.28 ETH
$17,104.42
|
12.62 ETH
$40,870
|
37 | 0.0% | ||||
72 |
Ultiverse - Electric Sheep
Ethereum
|
1.39 ETH
$4,497.14
|
3.5% |
9,730 ETH
$31,479,987
|
12.19 ETH
$39,439
|
9 | 0.8% | ||||
73 |
Dooplicator
Ethereum
|
0.12 ETH
$385.11
|
11.3% |
1,116 ETH
$3,610,372
|
12.09 ETH
$39,116
|
90 | 0.3% | ||||
74 |
Cool Cats
Ethereum
|
0.45 ETH
$1,440.10
|
4.3% |
4,436 ETH
$14,354,954
|
11.84 ETH
$38,329
|
26 | 0.1% | ||||
75 |
The Wizards of Ord
Bitcoin
|
0.022 BTC
$1,468.78
|
18.5% |
73.33 BTC
$4,895,452
|
0.56 BTC
$37,417
|
21 | 0.0% | ||||
76 |
Opepen Edition
Ethereum
|
0.16 ETH
$522.19
|
3.9% |
2,582 ETH
$8,355,006
|
11.56 ETH
$37,398
|
55 | 0.1% | ||||
77 |
Meebits
Ethereum
|
0.56 ETH
$1,821.51
|
2.4% |
11,259 ETH
$36,428,323
|
11.05 ETH
$35,744
|
20 | 0.0% | ||||
78 |
O.P.I.U.M.
Bitcoin
|
0.46 BTC
$30,702
|
16.4% |
357.42 BTC
$23,855,217
|
0.53 BTC
$35,040
|
1 | 0.2% | ||||
79 |
Blond
Ethereum
|
2.67 ETH
$8,652.14
|
3.5% |
42.72 ETH
$138,434
|
10.47 ETH
$33,928
|
4 | 0.0% | ||||
80 |
Claynosaurz
Solana
|
13.80 SOL
$2,197.41
|
0.0% |
138,000 SOL
$21,974,063
|
206.93 SOL
$32,950
|
14 | 0.1% | ||||
81 |
Ordinal Maxi Biz (OMB)
Bitcoin
|
0.43 BTC
$28,699
|
14.0% |
903.00 BTC
$60,268,762
|
0.48 BTC
$32,037
|
1 | 0.2% | ||||
82 |
SERAPH Soul Series
Ethereum
|
0.23 ETH
$744.32
|
2.1% |
1,380 ETH
$4,465,940
|
9.76 ETH
$31,579
|
9 | 0.0% | ||||
83 |
Valhalla
Ethereum
|
0.067 ETH
$216.60
|
0.0% |
602.10 ETH
$1,949,385
|
9.52 ETH
$30,821
|
47 | 0.0% | ||||
84 |
Tiny Vikings
Bitcoin
|
0.004 BTC
$266.97
|
42.9% |
80.00 BTC
$5,339,425
|
0.46 BTC
$30,629
|
80 | 0.0% | ||||
85 |
BEANZ Official
Ethereum
|
0.22 ETH
$701.75
|
6.8% |
4,327 ETH
$13,999,926
|
9.24 ETH
$29,894
|
42 | 0.1% | ||||
86 |
Persona
Ethereum
|
0.22 ETH
$711.78
|
4.3% |
1,953 ETH
$6,317,050
|
9.13 ETH
$29,538
|
40 | 0.1% | ||||
87 |
CryptoDickbutts
Ethereum
|
0.45 ETH
$1,471.02
|
2.8% |
2,363 ETH
$7,646,379
|
8.90 ETH
$28,791
|
20 | 0.1% | ||||
88 |
RG Bytes
Ethereum
|
0.34 ETH
$1,099.64
|
10.4% |
1,699 ETH
$5,497,080
|
8.72 ETH
$28,196
|
25 | 0.1% | ||||
89 |
Nobody
Ethereum
|
0.18 ETH
$588.66
|
4.8% |
1,819 ETH
$5,886,626
|
8.30 ETH
$26,873
|
45 | 0.1% | ||||
90 |
Ninja Squad Official
Ethereum
|
0.22 ETH
$701.43
|
9.5% |
1,927 ETH
$6,233,583
|
7.85 ETH
$25,403
|
36 | 0.2% | ||||
91 |
Pixelmon
Ethereum
|
1.53 ETH
$4,941.66
|
0.2% |
19,188 ETH
$62,096,890
|
7.82 ETH
$25,304
|
5 | 0.1% | ||||
92 |
Mocaverse Lucky Neko
Ethereum
|
0.37 ETH
$1,194.31
|
4.6% |
468.25 ETH
$1,515,582
|
7.76 ETH
$25,123
|
20 | 0.9% | ||||
93 |
Checks - VV Edition
Ethereum
|
0.32 ETH
$1,032.02
|
11.5% |
1,716 ETH
$5,552,270
|
7.67 ETH
$24,828
|
26 | 0.1% | ||||
94 |
Meridian by Matt DesLauriers
Ethereum
|
4.29 ETH
$13,903.96
|
0.0% |
4,293 ETH
$13,903,958
|
7.60 ETH
$24,615
|
2 | 0.0% | ||||
95 |
Wild Forest Lords
Ronin
|
490.00 RON
$1,669.98
|
1.2% |
490,000 RON
$1,669,976
|
7,214 RON
$24,586
|
0 | 0.5% | ||||
96 |
WADE F&F
Ethereum
|
0.54 ETH
$1,747.54
|
3.1% |
1,134 ETH
$3,669,837
|
7.57 ETH
$24,498
|
18 | 0.3% | ||||
97 |
DigiDaigaku
Ethereum
|
2.67 ETH
$8,628.72
|
0.6% |
5,393 ETH
$17,447,268
|
7.54 ETH
$24,395
|
3 | 0.1% | ||||
98 |
The Potatoz
Ethereum
|
1.90 ETH
$6,139.05
|
2.4% |
18,968 ETH
$61,384,349
|
7.36 ETH
$23,812
|
4 | 0.1% | ||||
99 |
rektguy
Ethereum
|
0.42 ETH
$1,351.74
|
2.1% |
3,682 ETH
$11,914,196
|
7.34 ETH
$23,761
|
17 | 0.0% | ||||
100 |
CyberKongz (Babies)
Ethereum
|
0.98 ETH
$3,171.46
|
0.1% |
3,920 ETH
$12,685,857
|
7.33 ETH
$23,721
|
8 | 0.0% |
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
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.