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Non-Fungible Tokens 2021- Everything You Should Know

If you’ve dealt with crypto at all in the last couple of years, you already know that NFTs or Non-Fungible Tokens have gone from being simply a way to monetize artwork to collections worth millions of dollars. There’s no better time to get into NFTs, and if you want some proof of their profitability, well, here’s some to start you off: CryptoPunks, one of the first NFT projects, are now trading at a volume of 515,220.24 Ethereum!

What are NFT or Non-Fungible Tokens?

A non-fungible token or NFT, is a digital asset similar to a physical asset. NFTs are often encoded with the same underlying software as various cryptocurrencies. You can buy or trade NFTs online using cryptocurrency. Like the way users can trade Bitcoin at bitcoin news trader , a reliable trading platform, similarly, the NFTs are currently gaining popularity as a popular means of purchasing and selling digital cryptocurrencies.

This differs from the majority of digital products as they are not fixed like bitcoins.

The Biggest NFT Projects in 2021

In fact, that’s not all the information we have for you (or this would be really short). Below, you’ll find more details about the seven most significant NFT projects in 2021, along with tips on getting started with investing in NFTs.

benefits of non-fungible tokens (nfts) - nft's street

CryptoPunks

Any list of well-known Non-Fungible Tokens would be incomplete without CryptoPunks at the top, given the almost legendary status of these tokens. This project, started by Larva Labs back in 2017, consists of 10,000 pixel-art ‘punk’ characters inspired by various sources like the cyberpunk fiction genre.

Their fame, though, comes from the fact that CryptoPunks was one of the first projects to kickstart the NFT movement and even led to creating the ERC-21 token, now the standard for NFTs on Ethereum.

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Art Blocks Curated

Have you ever heard that a machine can’t be created? Currently trading at a volume of 197,851.89 ETH and 39,200 items, the Art Blocks project aims to prove that wrong by creating unique, beautiful non-Fungible tokens using nothing but computer code and the blockchain. Creators write scripts that produce unique pieces during the minting process, often resulting in beautiful artwork priced highly.

Bored Ape Yacht Club

If you think it’s strange that pictures of monkeys are worth several tens of thousands of dollars each, you must be new to the strangeness of crypto. The Bored Ape Yacht Club is trading at a volume of 170,657.34 ETH, which is precisely what it sounds like: a collection of 10,000 digital collectibles featuring bored apes in various poses and expressions.

non-fungible tokens or nfts: what are they, where to buy and should you  spend money on them this dhanteras - times of india

Rarible

Rarible stands out from the other names on this list because it’s not just a platform for minting Non-Fungible Tokens. It’s also a pretty serious NFT marketplace, with different items trading for hundreds of Ethereum. As for the tokens themselves, Rarible items can be found trading on OpenSea too, where they’ve reached a trading volume of slightly over 96,534.57 ETH.

Mutant Ape Yacht Club

You guessed that right: the Bored Ape Yacht Club isn’t the only Bored Ape project out there. The Mutant Ape Yacht Club is another particularly well-known NFT project, said to have come into existence when the ‘Bored Ape NFTs were introduced to a mutant serum.’ While we don’t know if there was an actual serum (or, well, apes), there are 15,800 Mutant Apes trading on OpenSea, with a trading volume reaching well over 80,766.62 ETH.

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Meebits

Like the Art Blocks project, Meebits is another generative art project generating unique art pieces through blockchain and various algorithms that previously reached an all-time trading volume high of 69,903.48 Ethereum. There is a total of 20,000 Meebits items trading on OpenSea

CryptoKitties

Come on. The concept of NFTs doesn’t get a more iconic example than CryptoKitties, a digital collectible game responsible for drawing mainstream attention to the NFT field. The game became an overnight sensation after being released towards the end of 2017, going so far as to congest the Ethereum network for a while. These cute kittens have grossed a trading volume of no less than 69,459.74 ETH.

the rise of non fungible tokens - benefits, features, risks and scope

Final Words

At the end of the day, investing in NFTs, in other words, is essentially a personal choice. If you have some extra cash, it’s something to think about, particularly if the artwork has sentimental value for you. Before planning to invest in NFTs or Non-Fungible Tokens, it is advised to do your own homework, and be aware of the risks, most importantly.

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