In the year 2021, Non-Fungible Tokens (NFTs) became popular, with pictures of apes and pixelated “punks” taking over the timeline in just a few weeks. People began investing millions of dollars to buy their own NFTs and research the best NFT stocks to buy. Celebrities such as Jimmy Fallon, Jay-Z, and Justin Bieber have purchased NFTs and showed them on Twitter, increasing demand for this new limited-edition tokenized art.
So, are you saying that you’re trying to enter the NFT market? If so, there are two ways to go about it: either create your own NFTs or buy some of your favorite ones. But what is an NFT token, and how did they appear so suddenly? Like with any other investment, before deciding which NFT to buy, you must first learn how NFTs work, how to buy NFT tokens, and the best NFT to buy, so start learning more about this craze and how you can get started in this guide.
What is an NFT Token?
A non-fungible token (NFT) is a data unit that cannot be traded on a blockchain. However, to store digital goods such as photographs, videos, and music, a variety of NFT data units can be used. NFTs differ from blockchain-based cryptocurrencies like Bitcoin in that each token can be identified individually.
How Do NFTs Work?
So, what are the similarities and differences between NFTs and cryptocurrencies, and are they the same? No, not at all. Unlike fiat money such as the US dollar or the Euro, a cryptocurrency is a digital currency that exists on its blockchains (in the digital domain) and cannot be physically touched.
On the other hand, an NFT is a “non-fungible token” or currency. This word refers to the fact that the token in question is unique and cannot be replaced or owned by two people at the same time. For example, with USD, $1 will always be $1, and you can exchange two banknotes at the store for the same amount of money. The same can be said for most cryptocurrencies. Is there a difference between sending a friend 1 BTC and receiving 1 BTC in return? You still have 1 BTC, so no worries.
Before you run out and buy NFTs, keep in mind that they are one-of-a-kind tokens; there is no equivalent to an NFT since there isn’t one. This is what causes scarcity and, in some ways, powers the market’s enthusiasm. It’s also one of the reasons why people are suddenly interested in learning how to buy NFT tokens.
Best NFT Tokens
Now that you’ve learned most of the basics, the next question seems to be rather straightforward: how do you know which are the best NFTs to buy? Here we gathered the best NFT tokens for you to invest in:
CryptoPunk NFT
CryptoPunks was founded in 2017 and is one of the first Ethereum-based first non-fungible token projects. Each punk was developed through an algorithm, and the total number of items is 10,000. In the collection, the Human Punks are the most prevalent, but other Punk species exist, such as 9 Alien Punks, 24 Ape Punks, and 88 Zombie Punks.
Bored Ape Yacht Club NFT
This NFT investment specializes in online avatars, just like CryptoPunks. This project features a lot of cartoon apes (10,000), and the crypto ecosystem allows the Bored Ape Yacht Club to remain adaptable. The Bored Ape Yacht Club (BAYC) is a limited edition NFT collection in which the token acts as your ape club membership.
Dope Crew
DCF is a hand-drawn collection of 999 NFTs by artist Daehan Dope. The Zilliqa family and its members greeted him as he entered the Zilliqa Metaverse, where DCF resides. To understand how profitable this investment is, you should know that after only a few minutes on the market, the first collection of 99 Dope Crew monkeys was sold out. The cheapest NFT was $Zil 999 ($100). All in all, the artist has sold out many collections on the renowned in the Zilliqa Community Sparda Wallet and has earned over $30,000
Axie NFT
Axies are the creature items that appear in Axie Infinity, a popular blockchain-based game. To play the game, you’ll need three Axies, which means that as the platform grows in popularity, the price of Axies will automatically rise. Axie NFTs vary in price based on their features, but you can get one for around $200 right now.
Decentraland
The Decentraland NFTs were the most popular NFTs in the first week of December 2021, with $6.6 million in sales over seven days and an average of $19,469 per transaction. Decentraland claims to be “the world’s first totally decentralized system.” It was first released in 2017, with property portions costing $20 each. If we fast forward to 2022, the same handful of parcels might cost anywhere from $6,000 to more than $10,000.
How to buy NFT tokens?
Let’s take things from the top and start with the first step: you need to buy some cryptocurrencies for yourself so that you can purchase NFTs!
READ FURTHER: HOW TO BUY NFT TOKENS
