Top NFT Collection Prices Ranked by Market Cap
| # | NFT | Floor Price | 24h | 7d | 30d | Last 7 Days | Market Cap | 24h Volume | 24h Sales | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 101 |
|
BILLIONERS BROKERS
|
0.040 ETH
$99.52
|
26.2% | 26.2% | 26.2% |
|
$49,161
19.52 ETH
|
3.65 ETH
$9,187.20
|
35 | ||
| 102 |
|
Wolves of the Wallstreet
|
0.007 ETH
$17.63
|
97.1% | 97.0% | 97.0% |
|
$35,263
14.00 ETH
|
1.11 ETH
$2,796.59
|
147 | ||
| 103 |
|
Syndicate Capos
|
0.014 SOL
$1.41
|
5.9% | 3.0% | 55.2% |
|
$18,213.30
179.37 SOL
|
19.75 SOL
$2,005.57
|
160 | ||
| 104 |
|
The Magus Official
|
0.004 ETH
$10.05
|
0.0% | 0.0% | 0.0% |
|
$8,552.44
3.40 ETH
|
0.83 ETH
$2,080.27
|
- | ||
| 105 |
|
Bonk Puppets
|
0.023 SOL
$2.35
|
0.0% | 0.0% | 0.0% |
|
$5,153.26
50.75 SOL
|
55.92 SOL
$5,677.79
|
2,241 | ||
| 106 |
|
Trump Bitcoin Digital Trading Cards
|
0.075 BTC
$5,824.02
|
0.0% | 0.0% | 0.0% |
|
$5,824.02
0.075 BTC
|
0.031 BTC
$2,407.26
|
1 | ||
| - |
|
CryptoPunks V1 (wrapped)
|
1.79 ETH
$4,506.07
|
8.3% | 8.6% | 20.5% |
|
$23,206,255
9,213 ETH
|
9.40 ETH
$23,674
|
5 | ||
| - |
|
Otherside Koda
|
0.62 ETH
$1,561.63
|
8.1% | 6.3% | 8.7% |
|
$12,988,115
5,157 ETH
|
2.79 ETH
$7,035.24
|
4 | ||
| - |
|
ENS: Ethereum Name Service
|
0.0000 ETH
$0.061458
|
0.0% | 1.2% | 1.2% |
|
$252,148
100.11 ETH
|
0.47 ETH
$1,186.37
|
6 | ||
| - |
|
pyopyopyopyo
|
0.025 ETH
$62.71
|
14.3% | 22.2% | 66.4% |
|
$278,681
110.64 ETH
|
0.39 ETH
$985.54
|
16 | ||
| - |
|
rektguy
|
0.13 ETH
$337.11
|
3.1% | 9.3% | 32.4% |
|
$2,971,301
1,180 ETH
|
0.39 ETH
$971.74
|
3 | ||
| - |
|
Otherdeed for Otherside
|
Buy
|
0.085 ETH
$213.96
|
1.4% | 19.8% | 18.6% |
|
$10,103,416
4,011 ETH
|
0.38 ETH
$968.47
|
3 | |
| - |
|
Ronkeverse
|
545.00 RON
$29.82
|
9.0% | 21.5% | 24.2% |
|
$207,720
3,795,925 RON
|
17,503 RON
$957.79
|
18 | ||
| - |
|
Bitcoin Punks
|
0.003 BTC
$244.03
|
0.0% | 21.2% | 8.6% |
|
$2,440,287
31.43 BTC
|
0.015 BTC
$1,140.73
|
1 | ||
| - |
|
Pudgy Rods
|
0.095 ETH
$239.25
|
0.1% | 7.9% | 18.0% |
|
$1,769,235
702.42 ETH
|
0.36 ETH
$911.79
|
4 | ||
| - |
|
y00ts (Solana)
|
0.83 SOL
$84.70
|
0.3% | 1.0% | 30.8% |
|
$673,849
6,636 SOL
|
8.54 SOL
$866.67
|
10 | ||
| - |
|
Bitcoin Wizards
|
0.014 BTC
$1,048.32
|
0.0% | 4.9% | 10.0% |
|
$1,402,656
18.06 BTC
|
0.013 BTC
$1,032.79
|
1 | ||
| - |
|
VeeFriends Series 2
|
0.069 ETH
$173.40
|
0.0% | 4.7% | 21.3% |
|
$9,584,886
3,805 ETH
|
0.34 ETH
$853.46
|
3 | ||
| - |
|
Taiji Labs Genesis Keys
|
0.15 ETH
$369.75
|
22.3% | 0.7% | 18.0% |
|
$147,902
58.72 ETH
|
0.34 ETH
$851.34
|
3 | ||
| - |
|
Highrise LAND
|
0.091 ETH
$230.15
|
0.8% | 3.7% | 26.9% |
|
$740,165
293.86 ETH
|
0.33 ETH
$838.25
|
4 | ||
| - |
|
Grimoire
|
0.79 SOL
$80.40
|
24.6% | 7.2% | 7.2% |
|
$172,779
1,702 SOL
|
8.26 SOL
$838.87
|
14 | ||
| - |
|
Murakami.Flowers Official
|
0.15 ETH
$389.42
|
4.3% | 3.8% | 7.2% |
|
$3,970,150
1,576 ETH
|
0.33 ETH
$831.19
|
1 | ||
| - |
|
Claynosaurz
|
8.49 SOL
$862.15
|
0.0% | 6.6% | 51.5% |
|
$8,821,497
86,876 SOL
|
8.20 SOL
$832.63
|
1 | ||
| - |
|
The Memes by 6529
|
0.017 ETH
$42.57
|
5.3% | 5.6% | 6.3% |
|
$9,468,506
3,759 ETH
|
0.32 ETH
$816.96
|
6 | ||
| - |
|
BTC DeGods
|
0.017 BTC
$1,281.28
|
0.0% | 33.7% | 17.5% |
|
$685,487
8.83 BTC
|
0.012 BTC
$943.49
|
1 | ||
| - |
|
Solana Machines
|
0.037 SOL
$3.80
|
63.7% | 94.4% | 94.4% |
|
$12,657.47
124.65 SOL
|
7.71 SOL
$782.69
|
233 | ||
| - |
|
Wilder PALs: GEN
|
0.033 ETH
$82.14
|
0.0% | 2.8% | 18.5% |
|
$303,579
120.53 ETH
|
0.31 ETH
$775.06
|
7 | ||
| - |
|
Polychain Monsters | BNB Chain
|
50.00 BNB
$36,193
|
0.0% | 7042.9% | 111011.1% |
|
$18,547,798,767
25,623,750 BNB
|
1.05 BNB
$762.62
|
10 | ||
| - |
|
Bunny Warriors
|
0.36 SOL
$36.25
|
0.0% | 0.0% | 0.0% |
|
$234,683
2,311 SOL
|
7.54 SOL
$765.21
|
28 | ||
| - |
|
daily.xyz
|
0.050 ETH
$125.91
|
0.0% | 11.1% | 257.3% |
|
$401,663
159.47 ETH
|
0.30 ETH
$755.63
|
2 | ||
| - |
|
CyberKongz Genkai (Ethereum)
|
0.008 ETH
$21.16
|
154.6% | 57.8% | 56.8% |
|
$284,507
112.95 ETH
|
0.30 ETH
$754.06
|
41 | ||
| - |
|
PROOF Collective
|
0.18 ETH
$453.38
|
9.5% | 17.6% | 17.6% |
|
$453,378
180.00 ETH
|
0.30 ETH
$745.55
|
2 | ||
| - |
|
Zecrey Chameleon Avatar
|
0.50 BNB
$361.93
|
4.4% | 14.2% | 823.5% |
|
$1,698,880
2,347 BNB
|
1.01 BNB
$734.03
|
3 | ||
| - |
|
Doge Friends
|
0.39 BNB
$285.58
|
0.0% | 0.0% | 0.0% |
|
$85,675
118.36 BNB
|
0.97 BNB
$702.68
|
- | ||
| - |
|
Star Atlas Crew
|
0.003 SOL
$0.355103
|
6.4% | 34.1% | 47.3% |
|
$521,464
5,136 SOL
|
6.91 SOL
$701.64
|
1,859 | ||
| - |
|
Zaibatsu Wagies
|
0.029 ETH
$74.17
|
3.5% | 56.0% | 73.2% |
|
$74,173
29.45 ETH
|
0.27 ETH
$678.80
|
12 | ||
| - |
|
Wilder Crafts Genesis
|
0.22 ETH
$551.58
|
0.0% | 15.6% | 33.2% |
|
$276,344
109.71 ETH
|
0.27 ETH
$677.54
|
1 | ||
| - |
|
Doopies
|
0.26 SOL
$26.38
|
21.8% | 38.5% | 39.3% |
|
$234,484
2,309 SOL
|
6.56 SOL
$665.61
|
7 | ||
| - |
|
Soul Gate: Hero Cartridges
|
0.24 SOL
$23.87
|
27.3% | 28.5% | 25.3% |
|
$47,716
469.92 SOL
|
6.35 SOL
$645.06
|
28 | ||
| - |
|
Hashmasks
|
0.066 ETH
$166.24
|
16.2% | 5.6% | 3.1% |
|
$2,721,611
1,081 ETH
|
0.25 ETH
$639.76
|
4 | ||
| - |
|
Phantom Fox
|
1.05 SOL
$106.11
|
0.0% | 0.0% | 0.0% |
|
$106,110
1,045 SOL
|
6.30 SOL
$639.20
|
5 | ||
| - |
|
Opepen Edition
|
0.069 ETH
$173.79
|
0.7% | 17.0% | 10.1% |
|
$2,780,706
1,104 ETH
|
0.25 ETH
$629.94
|
4 | ||
| - |
|
Yokai Avengers
|
0.003 BTC
$255.48
|
37.1% | 26.1% | 15.4% |
|
$171,683
2.21 BTC
|
0.010 BTC
$737.71
|
4 | ||
| - |
|
MonkeyHood
|
0.011 ETH
$27.70
|
17.0% | 7.1% | 52.2% |
|
$127,032
50.43 ETH
|
0.24 ETH
$612.53
|
20 | ||
| - |
|
1000X GEM
|
6.43 SOL
$652.87
|
0.2% | 17.1% | 11.6% |
|
$1,305,085
12,853 SOL
|
6.00 SOL
$609.24
|
1 | ||
| - |
|
OCM Genesis by OnChainMonkey®
|
0.012 BTC
$930.29
|
0.0% | 4.2% | 4.3% |
|
$9,302,898
119.80 BTC
|
0.009 BTC
$706.65
|
1 | ||
| - |
|
OnChainMonkey (OCM) Genesis
|
0.012 BTC
$930.29
|
0.0% | 4.2% | 4.3% |
|
$9,302,898
119.80 BTC
|
0.009 BTC
$706.65
|
1 | ||
| - |
|
Absolute Batman (2024-) #1
|
0.25 SOL
$25.01
|
5.6% | 12.0% | 26.7% |
|
$60,848
599.25 SOL
|
5.62 SOL
$570.98
|
4 | ||
| - |
|
Zero Name Service
|
0.033 ETH
$82.73
|
0.0% | 0.0% | 17.3% |
|
$607,099
241.03 ETH
|
0.22 ETH
$546.32
|
5 | ||
| - |
|
Common Wealth Genesis NFT Series 2
|
0.23 ETH
$579.06
|
0.0% | 34.3% | 8.9% |
|
$1,916,702
760.97 ETH
|
0.22 ETH
$541.53
|
1 | ||
| - |
|
CryptoSkulls
|
0.044 ETH
$111.43
|
9.6% | 13.2% | 27.1% |
|
$1,114,277
442.39 ETH
|
0.21 ETH
$530.23
|
4 | ||
| - |
|
Script Kiddies
|
0.008 ETH
$19.98
|
10.9% | 12.7% | 70.5% |
|
$199,760
79.31 ETH
|
0.21 ETH
$529.11
|
30 | ||
| - |
|
Pizza Ninjas
|
0.009 BTC
$677.14
|
0.0% | 0.9% | 17.7% |
|
$1,015,709
13.08 BTC
|
0.008 BTC
$623.56
|
1 | ||
| - |
|
BTC Machines
|
0.009 BTC
$679.47
|
1.7% | 7.4% | 9.4% |
|
$527,947
6.80 BTC
|
0.008 BTC
$621.23
|
1 | ||
| - |
|
Wealthy Hypio Babies
|
15.66 HYPE
$1,252.11
|
11.9% | 44.5% | 42.4% |
|
$6,760,126
84,548 HYPE
|
6.40 HYPE
$511.35
|
28 | ||
| - |
|
Gigaverse ROMs
|
0.043 ETH
$108.20
|
1.9% | 15.6% | 8.6% |
|
$1,082,000
429.58 ETH
|
0.20 ETH
$506.27
|
5 | ||
| - |
|
Critters Quest
|
1.55 SOL
$157.32
|
10.7% | 26.4% | 71.6% |
|
$552,361
5,440 SOL
|
4.89 SOL
$496.38
|
3 | ||
| - |
|
Buidlers Collective GENESIS
|
4.99 SOL
$506.46
|
0.0% | 2.2% | 16.5% |
|
$473,544
4,664 SOL
|
4.89 SOL
$496.43
|
1 | ||
| - |
|
BoredMilady
|
0.024 ETH
$60.45
|
76.0% | 72.7% | 33.3% |
|
$415,959
165.14 ETH
|
0.20 ETH
$493.68
|
10 | ||
| - |
|
a KID called BEAST
|
0.065 ETH
$163.80
|
7.8% | 6.7% | 29.9% |
|
$1,637,884
650.27 ETH
|
0.20 ETH
$492.92
|
3 | ||
| - |
|
Wilder Beasts: Wolf
|
0.060 ETH
$151.10
|
0.0% | 4.4% | 5.6% |
|
$503,619
199.95 ETH
|
0.19 ETH
$487.53
|
3 | ||
| - |
|
God Hates NFTees
|
0.023 ETH
$57.93
|
8.3% | 2.1% | 33.5% |
|
$290,933
115.51 ETH
|
0.18 ETH
$458.67
|
9 | ||
| - |
|
Motocat Racing Club
|
0.008 BTC
$603.29
|
0.0% | 20.7% | 33.9% |
|
$0.00
0 BTC
|
0.007 BTC
$543.58
|
1 | ||
| - |
|
Crypto Trading Cards (1880-1979)
|
0.25 ETH
$629.68
|
0.0% | 0.0% | 32.4% |
|
$527,045
209.25 ETH
|
0.17 ETH
$428.19
|
1 | ||
| - |
|
GAINZ
|
1.42 SOL
$143.92
|
2.7% | 0.7% | 25.9% |
|
$479,673
4,724 SOL
|
4.14 SOL
$420.76
|
3 | ||
| - |
|
DigiDaigaku
|
0.18 ETH
$453.38
|
13.4% | 24.8% | 53.5% |
|
$916,730
363.96 ETH
|
0.16 ETH
$396.79
|
1 | ||
| - |
|
GMX Blueberry Club
|
0.13 ETH
$337.26
|
2.3% | 0.0% | 0.0% |
|
$3,372,627
1,339 ETH
|
0.16 ETH
$395.19
|
1 | ||
| - |
|
Puffsterz
|
2.09 SOL
$212.62
|
0.8% | 7.4% | 6.7% |
|
$401,205
3,951 SOL
|
3.89 SOL
$394.54
|
2 | ||
| - |
|
The Misfits Order
|
0.32 SOL
$32.38
|
7.8% | 19.2% | 14.6% |
|
$161,886
1,594 SOL
|
3.84 SOL
$389.49
|
10 | ||
| - |
|
Paradise
|
20.87 SOL
$2,118.65
|
413.2% | 0.0% | 0.0% |
|
$18,830,531
185,448 SOL
|
3.80 SOL
$385.85
|
1 | ||
| - |
|
Invisible Friends
|
0.20 ETH
$503.49
|
7.3% | 7.4% | 57.2% |
|
$2,517,442
999.47 ETH
|
0.15 ETH
$382.85
|
1 | ||
| - |
|
Natcats
|
0.003 BTC
$220.54
|
0.0% | 5.0% | 9.8% |
|
$1,778,403
22.90 BTC
|
0.006 BTC
$457.37
|
2 | ||
| - |
|
GLHF
|
0.20 ETH
$511.30
|
0.0% | 7.7% | 28.5% |
|
$1,813,567
720.02 ETH
|
0.15 ETH
$380.33
|
1 | ||
| - |
|
OnChainHoodies
|
0.012 ETH
$30.60
|
7.2% | 20.6% | 76.2% |
|
$183,592
72.89 ETH
|
0.15 ETH
$375.93
|
11 | ||
| - |
|
Checks
|
0.15 ETH
$376.30
|
0.0% | 4.8% | 3.6% |
|
$2,146,436
852.18 ETH
|
0.14 ETH
$363.29
|
1 | ||
| - |
|
Skellie
|
0.030 ETH
$75.31
|
50.3% | 57.5% | 70.9% |
|
$188,278
74.75 ETH
|
0.14 ETH
$356.91
|
- | ||
| - |
|
Lions of Liquania
|
3.70 SOL
$375.92
|
0.0% | 37.3% | 30.6% |
|
$493,588
4,861 SOL
|
3.50 SOL
$355.29
|
1 | ||
| - |
|
mfers
|
0.14 ETH
$352.51
|
0.4% | 2.1% | 14.5% |
|
$3,531,785
1,402 ETH
|
0.14 ETH
$352.52
|
1 | ||
| - |
|
DeadFellaz
|
0.072 ETH
$181.30
|
3.4% | 25.6% | 37.4% |
|
$1,813,007
719.80 ETH
|
0.14 ETH
$349.86
|
2 | ||
| - |
|
Azra Games - The Hopeful
|
0.021 ETH
$52.89
|
23.5% | 26.7% | 39.6% |
|
$293,827
116.66 ETH
|
0.14 ETH
$347.47
|
8 | ||
| - |
|
Ash Chapter Two: Metamorphosis
|
0.022 ETH
$55.41
|
0.0% | 26.2% | 26.2% |
|
$303,441
120.47 ETH
|
0.14 ETH
$347.84
|
6 | ||
| - |
|
CyberBrokers
|
0.034 ETH
$85.36
|
12.7% | 11.1% | 14.4% |
|
$853,617
338.90 ETH
|
0.14 ETH
$343.31
|
5 | ||
| - |
|
CENTS
|
0.005 BTC
$399.92
|
0.0% | 0.8% | 10.8% |
|
$3,999,559
51.51 BTC
|
0.005 BTC
$411.56
|
1 | ||
| - |
|
TRUMP HOOD
|
0.084 ETH
$211.58
|
0.0% | 2000.0% | 2000.0% |
|
$635,998
252.50 ETH
|
0.13 ETH
$337.51
|
67 | ||
| - |
|
Impostors Genesis Aliens
|
0.065 ETH
$163.72
|
0.0% | 31.6% | 50.0% |
|
$1,705,960
677.30 ETH
|
0.13 ETH
$338.70
|
2 | ||
| - |
|
BotanNFT
|
0.19 BNB
$139.50
|
0.0% | 0.0% | 0.0% |
|
$1,084,928
1,499 BNB
|
0.46 BNB
$329.43
|
- | ||
| - |
|
PORSCHE 911
|
0.12 ETH
$299.73
|
0.0% | 29.6% | 29.6% |
|
$708,269
281.20 ETH
|
0.13 ETH
$327.44
|
1 | ||
| - |
|
Nyan Balloon
|
0.012 ETH
$29.47
|
42.8% | 48.2% | 19.4% |
|
$389,470
154.63 ETH
|
0.13 ETH
$324.55
|
13 | ||
| - |
|
Cursed Bitcoin Punks
|
0.0005 BTC
$36.42
|
0.0% | 100.4% | 4.2% |
|
$364,195
4.69 BTC
|
0.005 BTC
$388.27
|
14 | ||
| - |
|
G3M NFT Series
|
0.0000 BNB
$0.000000000000000724
|
0.0% | 0.0% | 0.0% |
|
$0.000000000624884
0.0000 BNB
|
0.44 BNB
$320.85
|
- | ||
| - |
|
SchizoPosters
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0.066 ETH
$166.49
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20.2% | 4.9% | 26.6% |
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$924,692
367.12 ETH
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0.13 ETH
$321.66
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2 | ||
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Bored Ape Solana Club
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1.14 SOL
$115.66
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0.3% | 9.3% | 15.9% |
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$693,639
6,831 SOL
|
3.14 SOL
$318.63
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3 | ||
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Gold Series - Auction #1 - Candy Digital
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0.26 SOL
$26.16
|
9.3% | 9.3% | 67.1% |
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$20,559
202.47 SOL
|
3.13 SOL
$317.31
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1 | ||
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Lazy Lions
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0.062 ETH
$155.47
|
3.4% | 21.8% | 35.0% |
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$1,567,138
622.18 ETH
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0.13 ETH
$317.87
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2 | ||
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Moonbirds: Mythics
|
0.067 ETH
$169.77
|
6.4% | 7.2% | 18.5% |
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$1,659,183
658.73 ETH
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0.12 ETH
$297.97
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2 | ||
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PennyMoon NFTs
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0.010 BNB
$7.24
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0.0% | 0.0% | 0.0% |
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$14.49
0.020 BNB
|
0.41 BNB
$293.24
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- | ||
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Neo Tokyo Outer Citizen V2
|
0.16 ETH
$400.48
|
0.0% | 0.0% | 3.6% |
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$1,434,132
569.38 ETH
|
0.12 ETH
$293.18
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2 | ||
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Wealthy Hypio Babies
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0.073 ETH
$183.33
|
2.7% | 33.0% | 14.5% |
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$1,018,424
404.33 ETH
|
0.12 ETH
$289.80
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2 | ||
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Golfn Season 1 Cards
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0.49 SOL
$49.71
|
23.1% | 23.1% | 29.7% |
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$372,012
3,664 SOL
|
2.81 SOL
$284.82
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4 | ||
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Angry Dynomites Lab - Water Dynos
|
0.15 ETH
$377.81
|
0.0% | 0.0% | 7.9% |
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$566,722
225.00 ETH
|
0.11 ETH
$282.10
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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.