Learning about NFT
Non-fungible tokens, popularly known as NFT, are digital assets or tokens that certify an individual’s ownership of unique items. Such items can either be in digital or physical form.
Possibly, one can possess NFTs for a video, item, painting, image, real estate, or even music. Traded online, NFTs can simply be seen as modern-day collectibles that are exchanged with the help of blockchain technology.
Like cryptocurrency , NFTs are also kept secure and private with the help of blockchain ledgers that are accessible to only certified users. A unit of data, NFTs are stored in a blockchain that is then traded across the world in return for items listed above.
In order to establish public proof of ownership of easily reproducible items like mass media (images, video, audio), NFTs are traded on NFT platforms that are undoubtedly safe and secure.
Unlike fungible items that are mutually interchangeable, NFTs only let the trade of non-fungible items that are unique and non-interchangeable. In this blog, we will discover the top NFT platforms that will help us understand more about the concept.
Top NFT Platforms
A peer-to-peer marketplace for NFTs, OpenSea is considered to be one of the very new NFT platforms among the rest.
From setting up your digital wallet to creating your own collection of non-fungible items, OpenSea lets its customers experience a hassle-free interface for buying and selling.
Among the other NFT platforms that allow trade, one of the biggest highlights that makes OpenSea the best is that it has the lowest transaction fees.
Since an NFT marketplace charges a particular amount to let their users trade in NFTs, OpenSea surprisingly offers a lazy minting rate that is pocket-friendly for the users.
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Developed with the help of Ethereum blockchain, SuperRare is an NFT platform that was launched in 2018. With single-edition digital artworks as its features, SuperRare makes the art of collecting so much easier.
A social platform that enables the masses to trade and interact with art, culture, and collectible aesthetic items, SuperRare is a one-stop-shop for those who are quite indulged in trading NFTs.
Powered by ether, SuperRare is an interactive space that offers lots of features that are exclusive and meant for those who deserve those charming digital assets!
Another thing worth noting is that SuperRare does not charge any commission on primary sales. However, as a user indulges in secondary sales, a 3% commission is charged.
An NFT gaming metaverse, Axie Infinity is an NFT platform and crypto art marketplace is a whole another world when it comes to NFT. A blockchain-based metaverse that supports NFT gaming, this NFT platform constitutes digital collectible objects (here, pets) known as Axies.
Herein, these pets are played by different users and Axie Infinity follows a ‘play-to-earn’ protocol that truly motivates users to trade in NFTs and benefit from this gaming infrastructure.
Launched in 2019, Axie Infinity has proven to provide a lot of its users/players with regular incomes.
“While Axies are unique digital pets that come in the form of NFTs, the metaverse also incorporates an ERC-20 governance token called Axie Infinity Shards (AXS). This token is intended to facilitate the eventual decentralization of the ownership and governance of the Axie Infinity ecosystem.”
Exploring Axie Infinity Marketplace
Released in 2017, CryptoPunks is a top-notch NFT platform that aims to enable digital characters’ trading easily and smoothly. One of the first-ever NFT platforms, CryptoPunks is also developed on the Ethereum blockchain.
There are only 10,000 CryptoPunks characters existing on this NFT platform. With the help of algorithms, these characters were uniquely generated, and no two characters are said to be alike.
Simply put, this NFT platform powers the largest number of digital arts and collectibles that may also be purchased via the NFT marketplace. Herein, these characters are colored with blue and red colors that define their availability for trading.
A Singapore-based NFT platform, Mintable allows its users to mint and sell non-fungible tokens (NFTs).
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A one-of-a-kind NFT platform, Mintable has successfully been able to integrate art, gaming, and digital NFT collectibles into one digital marketplace by using crypto technology.
Since cryptos have not been much popular in past times, the concept of NFTs has very well created a renowned identity for cryptocurrency technology. With the help of top NFT platforms like Mintable, the metaverse has become a popular trend among the masses.
By charging commissions on every transaction that takes place, the platform builds its own funding. Yet, it is important to note that it removes the gas fees, a charge that is to be paid on other NFT platforms.
An NFT application that is known for organizing live auctions for digital collectibles, Foundation is another NFT platform that is known among NFT traders.
With a simple and easy-to-use interface, this NFT platform is based on digital art trading. Founded in 2021, this application-based NFT platform has simultaneously created a community of art, design, and creative collectibles worldwide.
With an aim to become a creative economy in the coming years, Foundation has a bright future as it is constantly evolving to make digital art accessible to creators and buyers at the same time.
For both beginners and professionals, Foundation is a fairly easy platform that lets one explore the arena to their best. However, with full knowledge of NFT trading, Foundation becomes more useful and efficient.
Yet another NFT platform that is worth discussing is Ve-Ve. Available in limited editions, VeVe digital collectibles have become an essential part of the creative economy over time.
While many NFT platforms do not provide the feature of upgradation, VeVe leaves no stone unturned.
With several features of trading, upgrading, and showcasing in virtual showrooms, VeVe enables creators to make the most of their ability to create digital collectibles and distribute their public ownership through verified and trusted platforms like VeVe.
Recently, the platform has also announced its much-welcomed collaboration with Disney, a kid’s channel giant. Characters from the channel will be converted into ‘Golden Moments’ digital collectibles that will then be traded over this NFT platform.
Even though the platform has released its digital collectibles of Marvel, it is working towards a new project.
Blockchain technology supports NFT platforms, and one such platform is Xooa. With low code tools, a user-friendly interface, and faster speed to mint NFTs, Xooa is one of the most sought-after platforms in the realm of NFT.
A set of comprehensive features make Xooa what it is actually known for - sustainable trading, public security, 10x time faster speed, and in-house resources to enable trading.
Unlike other NFT platforms that out-source their resources in order to upgrade their performance, this NFT platform does it all with the help of its own resources.
What’s more, Xooa NFT traders also get to choose their public blockchain, thus extending the range of advantages.
A consumer-focused flow blockchain, Dapper Labs is next on the list. Initially made for fun games, this NFT platform has developed as a platform for digital collectibles.
Supported by blockchain technology, this platform is out there, ready to be ‘used’ by the masses to its fullest extent.
A decentralized platform, Dapper Labs is extremely effective as an NFT platform that has majorly contributed to the development of a metaverse when it comes to digital art.
“Dapper Labs uses the power of play to deliver blockchain-based experiences and digital collectibles that are made for you and ready for the real world.”
Dapper Labs NFT
An NFT collection platform, Flowerpatch is known as a peaceful indie NFT game based on the Ethereum blockchain. A popular platform for mining Ethereum as well, Flowerpatch has enabled traders to exchange NFT tokens while they play fictional games with interesting elements.
A farm setup wherein NFT crypto coins can be earned in the process of collecting rewards, this NFT platform is one of the top NFT platforms 2021.
One of the biggest advantages of Flowerpatch, like any other NFT platform, is that it boosts growth in an inclusive environment where content creators can benefit from such an ecosystem.
To sum up, these NFT platforms have contributed to the building of an ecosystem that is empowered by public blockchain ledger systems.
In a way, these platforms also collaborate with other fields, like gaming, and perhaps this is why the growth of NFT platforms has an ever-increasing demand.