Top NFT Collection Prices Ranked by Market Cap
| # | NFT | Floor Price | 24h | 7d | 30d | Last 7 Days | Market Cap | 24h Volume | 24h Sales | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 101 |
|
Drifella III
|
0.59 SOL
$49.17
|
0.0% | 0.0% | 0.0% |
|
$65,538
784.47 SOL
|
85.41 SOL
$7,135.26
|
111 | ||
| 102 |
|
Trench Warriors
|
0.15 SOL
$12.60
|
0.0% | 7.3% | 7.3% |
|
$53,417
639.39 SOL
|
12.29 SOL
$1,027.14
|
58 | ||
| 103 |
|
Liminals
|
0.10 SOL
$8.72
|
3.3% | 34.6% | 34.6% |
|
$29,055
347.79 SOL
|
16.05 SOL
$1,340.70
|
92 | ||
| 104 |
|
Space
|
0.095 SOL
$7.92
|
0.0% | 6.1% | 5.8% |
|
$8,804.62
105.39 SOL
|
24.00 SOL
$2,005.05
|
1 | ||
| 105 |
|
The Magus Official
|
0.004 ETH
$8.27
|
0.0% | 0.0% | 0.0% |
|
$7,034.45
3.40 ETH
|
0.83 ETH
$1,711.04
|
- | ||
| 106 |
|
Trump Bitcoin Digital Trading Cards
|
0.075 BTC
$5,690.24
|
0.0% | 0.0% | 0.0% |
|
$5,690.24
0.075 BTC
|
0.031 BTC
$2,351.97
|
1 | ||
| 107 |
|
Bonk Puppets
|
0.023 SOL
$1.93
|
0.0% | 0.0% | 0.0% |
|
$4,239.90
50.75 SOL
|
55.92 SOL
$4,671.46
|
2,241 | ||
| - |
|
Otherside Koda
|
0.73 ETH
$1,512.14
|
0.0% | 0.0% | 0.0% |
|
$12,564,351
6,065 ETH
|
9.92 ETH
$20,543
|
13 | ||
| - |
|
CryptoPunks V1 (wrapped)
|
3.00 ETH
$6,215.12
|
15.5% | 20.0% | 73.5% |
|
$32,007,843
15,450 ETH
|
5.64 ETH
$11,684.42
|
2 | ||
| - |
|
MAX PAIN AND FRENS BY XCOPY
|
0.50 ETH
$1,025.49
|
2.0% | 4.8% | 25.7% |
|
$7,146,668
3,450 ETH
|
0.48 ETH
$994.42
|
1 | ||
| - |
|
based punks
|
0.047 ETH
$97.35
|
1.3% | 14.2% | 88.0% |
|
$486,746
234.95 ETH
|
0.48 ETH
$993.24
|
8 | ||
| - |
|
Transdimensional Fox Federation
|
1.53 SOL
$127.82
|
9.6% | 12.8% | 3.5% |
|
$994,325
11,902 SOL
|
11.37 SOL
$949.80
|
8 | ||
| - |
|
Supreme Kong
|
0.28 ETH
$580.08
|
0.0% | 0.0% | 56.3% |
|
$1,160,155
560.00 ETH
|
0.45 ETH
$932.26
|
2 | ||
| - |
|
BTC DeGods
|
0.017 BTC
$1,251.85
|
0.0% | 33.7% | 17.5% |
|
$669,741
8.83 BTC
|
0.012 BTC
$921.82
|
1 | ||
| - |
|
Murakami.Flowers Official
|
0.19 ETH
$402.44
|
0.0% | 2.8% | 1.9% |
|
$4,102,445
1,980 ETH
|
0.44 ETH
$911.55
|
2 | ||
| - |
|
y00ts (Solana)
|
1.04 SOL
$87.03
|
2.1% | 3.4% | 8.7% |
|
$692,399
8,288 SOL
|
10.31 SOL
$861.37
|
10 | ||
| - |
|
Heavy Liquid Graphic
|
0.66 SOL
$55.42
|
1.6% | 1.6% | 1.6% |
|
$55,367
662.74 SOL
|
9.91 SOL
$827.52
|
13 | ||
| - |
|
Project AEON
|
0.55 ETH
$1,139.44
|
35.0% | 35.0% | 44.7% |
|
$3,797,746
1,833 ETH
|
0.39 ETH
$801.75
|
1 | ||
| - |
|
SMB Gen3
|
2.57 SOL
$214.45
|
0.0% | 5.3% | 12.7% |
|
$1,783,371
21,347 SOL
|
9.40 SOL
$785.23
|
4 | ||
| - |
|
CyberKongz (Babies)
|
0.22 ETH
$453.70
|
4.4% | 6.8% | 6.8% |
|
$1,814,814
876.00 ETH
|
0.37 ETH
$772.75
|
2 | ||
| - |
|
Okay Bears
|
Buy
|
2.09 SOL
$174.22
|
0.6% | 18.3% | 22.0% |
|
$1,717,504
20,558 SOL
|
8.80 SOL
$735.02
|
4 | |
| - |
|
Yokai Avengers
|
0.003 BTC
$249.61
|
37.1% | 26.1% | 15.4% |
|
$167,739
2.21 BTC
|
0.010 BTC
$720.76
|
4 | ||
| - |
|
0N1 Force
|
0.070 ETH
$145.02
|
0.0% | 0.0% | 20.9% |
|
$1,127,525
544.25 ETH
|
0.35 ETH
$714.74
|
1 | ||
| - |
|
OnChainMonkey (OCM) Genesis
|
0.012 BTC
$908.92
|
0.0% | 4.2% | 4.3% |
|
$9,089,211
119.80 BTC
|
0.009 BTC
$690.42
|
1 | ||
| - |
|
Lil Chillers
|
0.76 SOL
$63.10
|
6.3% | 8.5% | 28.0% |
|
$210,447
2,519 SOL
|
8.44 SOL
$704.95
|
10 | ||
| - |
|
Lil' Bangers
|
0.018 ETH
$37.29
|
5.1% | 0.1% | 17.0% |
|
$207,150
99.99 ETH
|
0.34 ETH
$703.93
|
13 | ||
| - |
|
Taiji Labs Genesis Keys
|
0.15 ETH
$304.13
|
22.3% | 0.7% | 18.0% |
|
$121,651
58.72 ETH
|
0.34 ETH
$700.24
|
3 | ||
| - |
|
Tomorrowland: The Reflection of Love
|
8.67 SOL
$724.31
|
1.8% | 4.9% | 7.4% |
|
$4,702,975
56,294 SOL
|
8.30 SOL
$693.15
|
1 | ||
| - |
|
OCM Genesis by OnChainMonkey®
|
0.012 BTC
$908.92
|
0.0% | 4.2% | 4.3% |
|
$9,089,211
119.80 BTC
|
0.009 BTC
$690.42
|
1 | ||
| - |
|
Polychain Monsters | BNB Chain
|
50.00 BNB
$32,765
|
0.0% | 7042.9% | 111011.1% |
|
$16,791,180,658
25,623,750 BNB
|
1.05 BNB
$690.39
|
10 | ||
| - |
|
Zecrey Chameleon Avatar
|
0.50 BNB
$327.65
|
4.4% | 14.2% | 823.5% |
|
$1,537,983
2,347 BNB
|
1.01 BNB
$664.51
|
3 | ||
| - |
|
Mutants On Sol Crew
|
0.20 SOL
$16.36
|
19.7% | 31.6% | 58.4% |
|
$57,264
685.44 SOL
|
7.84 SOL
$654.61
|
19 | ||
| - |
|
Doge Friends
|
0.39 BNB
$258.54
|
0.0% | 0.0% | 0.0% |
|
$77,561
118.36 BNB
|
0.97 BNB
$636.13
|
- | ||
| - |
|
Worried Meerkats
|
0.088 ETH
$182.12
|
1.5% | 11.2% | 11.9% |
|
$239,128
115.43 ETH
|
0.30 ETH
$612.04
|
3 | ||
| - |
|
Pizza Ninjas
|
0.009 BTC
$661.59
|
0.0% | 0.9% | 17.7% |
|
$992,378
13.08 BTC
|
0.008 BTC
$609.24
|
1 | ||
| - |
|
BTC Machines
|
0.009 BTC
$663.86
|
1.7% | 7.4% | 9.4% |
|
$515,820
6.80 BTC
|
0.008 BTC
$606.96
|
1 | ||
| - |
|
MoodRollers by Lucas Zanotto
|
0.015 ETH
$30.87
|
22.0% | 22.0% | 15.5% |
|
$154,342
74.50 ETH
|
0.29 ETH
$608.19
|
29 | ||
| - |
|
Parallel Avatars
|
0.051 ETH
$105.65
|
7.5% | 7.5% | 45.7% |
|
$1,162,309
561.04 ETH
|
0.28 ETH
$588.32
|
7 | ||
| - |
|
Pudgy Rods
|
0.15 ETH
$320.91
|
0.0% | 6.9% | 13.5% |
|
$2,373,108
1,145 ETH
|
0.27 ETH
$557.29
|
2 | ||
| - |
|
Moonbears
|
0.072 ETH
$149.16
|
0.0% | 0.0% | 0.0% |
|
$564,283
272.38 ETH
|
0.26 ETH
$545.75
|
4 | ||
| - |
|
Invisible Friends
|
0.14 ETH
$290.04
|
1.0% | 0.9% | 4.3% |
|
$1,450,182
699.99 ETH
|
0.26 ETH
$538.11
|
2 | ||
| - |
|
Nakamigos CLOAKS
|
0.013 ETH
$27.45
|
0.0% | 24.6% | 29.9% |
|
$548,978
264.99 ETH
|
0.26 ETH
$536.79
|
15 | ||
| - |
|
Motocat Racing Club
|
0.008 BTC
$589.43
|
0.0% | 20.7% | 33.9% |
|
$0.00
0 BTC
|
0.007 BTC
$531.09
|
1 | ||
| - |
|
Dead King Society Nobles
|
6.96 SOL
$581.05
|
0.0% | 22.2% | 24.5% |
|
$174,314
2,087 SOL
|
6.35 SOL
$530.50
|
1 | ||
| - |
|
Soul Gate: Hero Cartridges
|
0.24 SOL
$19.64
|
27.3% | 28.5% | 25.3% |
|
$39,259
469.92 SOL
|
6.35 SOL
$530.73
|
28 | ||
| - |
|
Hashmasks
|
0.078 ETH
$161.29
|
0.0% | 3.8% | 2.7% |
|
$2,640,621
1,275 ETH
|
0.25 ETH
$515.00
|
3 | ||
| - |
|
SupDucks
|
0.057 ETH
$118.09
|
0.0% | 0.0% | 42.5% |
|
$1,180,872
570.00 ETH
|
0.24 ETH
$496.73
|
7 | ||
| - |
|
Moki Genesis
|
800.00 RON
$70.51
|
0.0% | 31.6% | 32.8% |
|
$626,701
7,110,400 RON
|
5,499 RON
$484.66
|
6 | ||
| - |
|
Anonymice
|
0.077 ETH
$160.47
|
72.8% | 16.5% | 56.2% |
|
$569,523
274.91 ETH
|
0.22 ETH
$461.30
|
5 | ||
| - |
|
Collector Crypt RWA Tokenized Trading Card Club Membership Pass
|
6.20 SOL
$518.38
|
10.1% | 10.8% | 55.2% |
|
$518,382
6,205 SOL
|
5.47 SOL
$457.07
|
1 | ||
| - |
|
Yumemono ☆ 夢物
|
0.030 ETH
$62.15
|
5.6% | 50.1% | 37.6% |
|
$323,186
156.00 ETH
|
0.22 ETH
$455.01
|
10 | ||
| - |
|
Parallel
|
0.0001 ETH
$0.204892
|
0.0% | 0.0% | 0.1% |
|
$1,199,768
579.12 ETH
|
0.22 ETH
$453.38
|
24 | ||
| - |
|
Lazy Lions
|
0.073 ETH
$150.20
|
0.0% | 0.0% | 25.3% |
|
$1,514,002
730.80 ETH
|
0.22 ETH
$451.62
|
2 | ||
| - |
|
Natcats
|
0.003 BTC
$215.47
|
0.0% | 5.0% | 9.8% |
|
$1,737,554
22.90 BTC
|
0.006 BTC
$446.87
|
2 | ||
| - |
|
Common Wealth Genesis NFT Series 2
|
0.23 ETH
$476.28
|
0.0% | 34.3% | 8.9% |
|
$1,576,503
760.97 ETH
|
0.22 ETH
$445.42
|
1 | ||
| - |
|
SchizoPosters
|
0.077 ETH
$159.50
|
38.4% | 38.4% | 22.2% |
|
$885,843
427.59 ETH
|
0.21 ETH
$444.59
|
3 | ||
| - |
|
Jirasan
|
0.031 ETH
$64.22
|
0.0% | 13.8% | 67.6% |
|
$642,229
310.00 ETH
|
0.21 ETH
$437.96
|
8 | ||
| - |
|
Battle Bros Club
|
0.094 SOL
$7.87
|
1.0% | 7.5% | 11.9% |
|
$19,443.42
232.73 SOL
|
5.15 SOL
$430.13
|
30 | ||
| - |
|
Wealthy Hypio Babies
|
0.19 ETH
$402.06
|
3.2% | 21.7% | 87.7% |
|
$2,233,436
1,078 ETH
|
0.20 ETH
$420.09
|
1 | ||
| - |
|
Gib Meme Gigapack Memecards
|
0.023 SOL
$1.91
|
5.4% | 18.5% | 29.0% |
|
$120,010
1,436 SOL
|
4.96 SOL
$414.17
|
186 | ||
| - |
|
Drifters: Masterwork
|
0.26 SOL
$21.89
|
1.6% | 1.8% | 12.3% |
|
$181,105
2,168 SOL
|
4.97 SOL
$415.36
|
18 | ||
| - |
|
CENTS
|
0.005 BTC
$390.73
|
0.0% | 0.8% | 10.8% |
|
$3,907,689
51.51 BTC
|
0.005 BTC
$402.11
|
1 | ||
| - |
|
TCG Dragon Cave Club
|
0.059 ETH
$122.02
|
0.0% | 0.0% | 21.8% |
|
$1,220,234
589.00 ETH
|
0.19 ETH
$402.74
|
3 | ||
| - |
|
Wealthy Hypio Babies
|
15.66 HYPE
$962.98
|
11.9% | 44.5% | 42.4% |
|
$5,199,114
84,548 HYPE
|
6.40 HYPE
$393.27
|
28 | ||
| - |
|
Kups by Raposa
|
0.59 SOL
$49.17
|
3.4% | 0.6% | 135.6% |
|
$479,560
5,740 SOL
|
4.67 SOL
$390.03
|
9 | ||
| - |
|
Habbo Avatars
|
0.19 ETH
$391.55
|
0.0% | 0.0% | 5.5% |
|
$4,541,615
2,192 ETH
|
0.19 ETH
$385.34
|
1 | ||
| - |
|
Cursed Bitcoin Punks
|
0.0005 BTC
$35.58
|
0.0% | 100.4% | 4.2% |
|
$355,830
4.69 BTC
|
0.005 BTC
$379.35
|
14 | ||
| - |
|
Moonbirds: Mythics
|
0.11 ETH
$227.06
|
12.9% | 22.9% | 23.4% |
|
$2,219,046
1,071 ETH
|
0.18 ETH
$378.09
|
2 | ||
| - |
|
Gamba Dogs
|
4.49 SOL
$375.36
|
11.7% | 23.6% | 1.2% |
|
$750,711
8,986 SOL
|
4.49 SOL
$375.11
|
1 | ||
| - |
|
Checks - VV Edition
|
0.27 ETH
$559.31
|
0.0% | 8.0% | 45.9% |
|
$3,009,114
1,452 ETH
|
0.18 ETH
$372.91
|
1 | ||
| - |
|
Creepz by OVERLORD
|
0.18 ETH
$364.62
|
4.3% | 2.2% | 10.4% |
|
$4,051,271
1,956 ETH
|
0.18 ETH
$364.62
|
1 | ||
| - |
|
Visions of the Void
|
0.008 ETH
$15.54
|
0.0% | 0.0% | 103.8% |
|
$69,050
33.33 ETH
|
0.17 ETH
$356.95
|
12 | ||
| - |
|
TinFun
|
0.50 ETH
$1,035.85
|
614.3% | 614.3% | 614.3% |
|
$10,358,525
5,000 ETH
|
0.17 ETH
$351.57
|
2 | ||
| - |
|
CryptoPhunks
|
0.075 ETH
$154.71
|
14.9% | 14.9% | 129.8% |
|
$1,542,972
744.78 ETH
|
0.17 ETH
$349.85
|
3 | ||
| - |
|
DeepBlack
|
0.16 ETH
$323.19
|
0.0% | 0.0% | 25.7% |
|
$993,474
479.54 ETH
|
0.17 ETH
$341.83
|
1 | ||
| - |
|
The Plooshies
|
0.018 ETH
$36.92
|
8.3% | 5.5% | 10.9% |
|
$123,041
59.39 ETH
|
0.16 ETH
$336.86
|
10 | ||
| - |
|
Owltopia
|
5.60 SOL
$467.80
|
0.0% | 25.0% | 150.0% |
|
$160,456
1,921 SOL
|
4.00 SOL
$334.17
|
1 | ||
| - |
|
Mind the Gap by MountVitruvius
|
0.17 ETH
$345.97
|
0.0% | 0.0% | 1.2% |
|
$345,629
166.83 ETH
|
0.16 ETH
$331.47
|
2 | ||
| - |
|
GMX Blueberry Club
|
0.13 ETH
$277.40
|
2.3% | 0.0% | 0.0% |
|
$2,774,013
1,339 ETH
|
0.16 ETH
$325.05
|
1 | ||
| - |
|
AOI Engine
|
0.003 ETH
$5.70
|
0.0% | 0.4% | 2.1% |
|
$92,682
44.74 ETH
|
0.15 ETH
$320.91
|
2 | ||
| - |
|
Gutter Cat Gang
|
0.14 ETH
$282.99
|
7.9% | 51.8% | 53.5% |
|
$848,960
409.79 ETH
|
0.15 ETH
$312.83
|
1 | ||
| - |
|
The Long Lost
|
0.028 ETH
$58.01
|
0.0% | 0.0% | 26.4% |
|
$580,077
280.00 ETH
|
0.15 ETH
$308.27
|
6 | ||
| - |
|
The Wizards of Ord
|
0.005 BTC
$409.70
|
5.3% | 17.8% | 35.0% |
|
$1,365,521
18.00 BTC
|
0.004 BTC
$307.13
|
1 | ||
| - |
|
Pop Art Cats by Matt Chessco
|
0.041 ETH
$84.73
|
0.0% | 0.0% | 0.0% |
|
$847,327
409.00 ETH
|
0.15 ETH
$305.78
|
4 | ||
| - |
|
Haxz
|
0.54 SOL
$44.86
|
7.2% | 25.4% | 20.1% |
|
$149,508
1,790 SOL
|
3.64 SOL
$304.36
|
7 | ||
| - |
|
Bitcoin Bandits
|
0.004 BTC
$322.45
|
0.0% | 6.8% | 14.8% |
|
$165,093
2.18 BTC
|
0.004 BTC
$301.96
|
1 | ||
| - |
|
BoDoggos
|
1.00 SOL
$83.39
|
4.8% | 10.2% | 9.8% |
|
$725,252
8,681 SOL
|
3.59 SOL
$299.59
|
4 | ||
| - |
|
Bored Ape Solana Club
|
1.36 SOL
$113.73
|
1.9% | 15.4% | 18.7% |
|
$682,056
8,164 SOL
|
3.57 SOL
$298.48
|
3 | ||
| - |
|
BotanNFT
|
0.19 BNB
$126.29
|
0.0% | 0.0% | 0.0% |
|
$651,164
993.69 BNB
|
0.46 BNB
$298.23
|
- | ||
| - |
|
Skellie
|
0.030 ETH
$61.94
|
50.3% | 57.5% | 70.9% |
|
$154,860
74.75 ETH
|
0.14 ETH
$293.56
|
- | ||
| - |
|
Kanpai Pandas
|
0.048 ETH
$99.44
|
0.0% | 4.3% | 27.3% |
|
$877,674
423.65 ETH
|
0.14 ETH
$291.07
|
3 | ||
| - |
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G3M NFT Series
|
0.0000 BNB
$0.000000000000000656
|
0.0% | 0.0% | 0.0% |
|
$0.000000000565703
0.0000 BNB
|
0.44 BNB
$290.46
|
- | ||
| - |
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GigaBuds
|
0.64 SOL
$53.64
|
12.8% | 42.5% | 37.9% |
|
$536,350
6,420 SOL
|
3.44 SOL
$287.39
|
6 | ||
| - |
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Portals
|
0.31 SOL
$26.01
|
2.7% | 2.3% | 16.4% |
|
$390,091
4,669 SOL
|
3.34 SOL
$278.95
|
10 | ||
| - |
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CyberKongz VX
|
0.025 ETH
$51.79
|
1.9% | 1.9% | 31.6% |
|
$769,328
371.35 ETH
|
0.13 ETH
$279.27
|
4 | ||
| - |
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Degenerate Ape Academy
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Buy
|
1.47 SOL
$123.15
|
0.1% | 10.2% | 3.4% |
|
$2,189,817
26,212 SOL
|
3.33 SOL
$278.20
|
1 | |
| - |
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Retardio Cousins
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1.79 SOL
$149.48
|
0.7% | 12.7% | 58.6% |
|
$664,292
7,951 SOL
|
3.32 SOL
$277.01
|
2 | ||
| - |
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Zinu's Zombie Mob Secret Society
|
0.029 ETH
$60.33
|
0.0% | 0.0% | 94.7% |
|
$603,281
291.20 ETH
|
0.13 ETH
$273.26
|
7 | ||
| - |
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Metaverse HQ
|
0.065 ETH
$134.45
|
0.0% | 0.0% | 43.6% |
|
$119,529
57.70 ETH
|
0.13 ETH
$271.19
|
2 | ||
| - |
|
GLHF
|
0.17 ETH
$352.19
|
25.9% | 51.8% | 5.6% |
|
$1,249,217
602.99 ETH
|
0.13 ETH
$269.32
|
1 | ||
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.
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