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You may have heard of NFTs, the non-fungible tokens that make up unique digital assets that can be traded. These programmable tokens live on blockchain technology with profitable NFTs offered by Chainers.io, making them impossible to counterfeit or duplicate.
The most popular NFTs include everything from a Beeple video to virtual art pieces sold for millions of dollars. But what exactly are these NFTs, and how do you begin collecting them for free from Chainers?
NBA Top Shot is the poster child for the developing world of NFT sports collectibles. Its wildly popular marketplace features NBA-licensed moments from professional basketball games and has sold for hundreds of thousands of dollars.
Each Top Shot Moment is limited in quantity, bringing the element of scarcity to the digital collectible like traditional sports cards. This scarcity drives demand and increases the value of each token.
Unlike other NFTs, Top Shot isn’t an ERC-721 token and uses its blockchain network. This was a choice made by Dapper Labs after clogging the Ethereum network with CryptoKitties. This makes it easier to audit and track ownership of the tokens. The team also skillfully maintains varying degrees of scarcity in the marketplace by offering “Challenges.” These challenges give users a fixed amount of time to gather specific moments.
Pudding Daintytot is a pink cat with hearts scattered on its body, draconic horns and wings, and the ability to fly. It’s one of many unique, one-of-a-kind tokens known as “cryptokitty,” which can be bought and sold for increasingly large sums of money.
Founded in 2017 by Axiom Zen, CryptoKitties quickly became one of the first major blockchain games. Its popularity clogged up the Ethereum network, slowing transactions and testing its scalability.
A core gameplay feature lets owners pair their existing NFT cats and breed them to produce algorithmically generated offspring. These offspring are then able to be sold on the game’s marketplace. Breeding also allows NFTs to inherit unique traits from their parents, which makes them more valuable. The game recently moved to a new blockchain called Flow, allowing for greater functionality.
Decentraland is the first user-owned virtual world that allows users to own plots of land, art, and Non-Fungible Tokens (NFT). Unlike other Metaverse platforms, where investors cannot verify their property or investments, this platform uses blockchain technology to ensure that each user owns their land parcel.
Each plot of land on Decentraland is represented by an NFT called a LAND token, and trading LAND tokens is considered an NFT transaction. There are 90,000 LAND plots on the Decentraland platform, and many brands like Dolce & Gabbana and Coca-Cola have used it to connect with their communities.
Investors can also use LAND to buy and sell virtual goods in the platform’s numerous districts. For example, there’s a gaming district where gamers can play games, a shopping district where users can purchase new clothes and accessories for their avatars, and even a casino district where players can try out ICE Poker.
The non-fungible tokens (NFT) of the Bored Ape Yacht Club have taken both the NFT art and cryptocurrency world by storm. These apes, minted on the Ethereum blockchain, have become extremely valuable in just a few months.
Each ape features a variety of attributes that can be ranked in order of rarity. For example, some apes have rarer fur types and facial expressions than others. NFTs with the most rare traits will sell for a higher price. Additionally, each ape owner gains access to exclusive BAYC clubs and areas like the Bathroom.
As a result, the popularity of BAYC has been fueled by celebrity ownership and hype. Jimmy Fallon and Paris Hilton are just two of many high-profile BAYC owners who have jumped on the bandwagon, driving up valuations even further. Aside from the monetary value, owning a BAYC gives you full commercial rights to your ape.
The Bored Ape Yacht Club is a group of 10,000 distinct Non-Fungible Tokens (NFTs) created on the Ethereum network, including digitally created apes. Having a Bored Ape gives its owner access to the BAYC community and ownership rights.
As a spinoff to the original collection, the team at Yuga Labs launched Mutant Apes in August 2021. Like their predecessors, they are costly because of limited supply and rare features.
NFT collectors clamor for these pieces of digital art that have become metaverse status symbols. Paris Hilton, for example, purchased one of the rarest apes—which has red fur, sunglasses, and an S&M hat—for 119 ETH in early 2022. It’s currently worth around $7 million. Like Bored Apes, it has also generated significant trading volume. But are these digital apes worthy of the hype?
During the COVID-19 pandemic, many artists began considering NFTs because they allow them to make money without performing or having a physical presence. Moreover, they also provide a new way for artists to demonstrate their creative pursuits.
When a collection of NFTs by the artist Beeple sold for over $6.6 million, it sent shockwaves through the conventional art world. How could a JPEG file created by an unknown artist sell for so much?
Mike Winkelmann, better known as Beeple, is an American digital artist, graphic designer, and animator. He has been creating head-scratching imagery for the last 13 years. Mike used Cinema 4D to create dystopian-like pieces that have collectors going wild. He also helped design concert visuals for musicians like Nicki Minaj. Despite being hailed as one of the most valuable living artists, Beeple is still a Midwestern guy passionate about technology.
Taco Bell is the latest fast-food brand on the non-fungible token (NFT) bandwagon. The company dropped a collection of taco-themed NFTs on the Rarible blockchain.
These gifs are digital collectibles that are sold in sets of five. Each of them costs 0.001 Ethereum (CCC: ETH) or $1.79, but bids have already climbed as high as $700 for the “Taco Dimensions” set.
NFTs are the hot new thing in virtual assets, and the market has exploded over the past few weeks. Bratz, the Rabbids, and video games like NBA Top Shot have all released NFTs, while artists and musicians, including Grimes and Kings of Leon, have released NFT-based digital art.
Non-fungible token crypto collectibles are more than just toys – they can be used in immersive digital worlds like video games. The Axie Infinity game is an example of this, and it’s a leader in the emerging play-to-earn movement.
Launched in 2018, it combines Pokemon-inspired gameplay with a social network and earning platform. The game’s ecosystem revolves around powerful monsters dubbed Axies, which are pitted against each other in PVP combat. Players earn Smooth Love Potion (SLP) and Axie Infinity Shard (AXS) through gameplay, which is then redeemed for money in the game’s marketplace.
The Axie Infinity community is incredibly supportive and generous. It has donated to several charities, including one focused on whale conservation and mental wellness. It also democratizes ownership of in-game assets by allowing players to transfer them outside the metaverse. This is a welcome change from traditional video gaming, where users invest time and money but don’t always get real ownership of the items they acquire.
Axie Infinity is one of the most popular play-to-earn games on the market. Inspired by the Tamagotchi craze and Pokemon, players gather and breed digital beasts called Axies. These in-game monsters can then be traded for real money.
The game is built on blockchain technology, which allows for a complex player-owned economy. Players earn in-game resources like Smooth Love Potions (SLP) by competing and winning battles. They can also breed Axies to create new ones with specific body-part combinations.
Axies are non-fungible tokens (NFT). This means each has a unique data identifier, much like a first-ever tweet or a signed photo from Audrey Hepburn. This allows users to own their characters even if they quit playing the game. Some players even use their SLP to buy Axies on the secondary market. This activity has become particularly popular in developing nations such as Vietnam and the Philippines.
Often, collecting an NFT can be more than just a fun hobby. The value of these digital pieces can skyrocket, providing a return on investment.
However, it’s important to research before investing in any NFT. Knowing who created the work and whether they are an established artist or a novice is essential.
Successful NFT projects have clear roadmaps and a vision that resonates with their audience. For example, Bored Ape Yacht Club launched with a narrative that gives back to its community.
Similarly, Cool Cats began as a single blue cartoon feline but now boasts 9,999 tokens that rank on a “coolness” scale, mirroring the exclusivity and visual flex desirable in luxury goods. Adding to this sense of prestige is that owning an NFT can unlock memorable experiences and events.
In conclusion, NFTs have become a prominent and lucrative trend in the digital world, allowing collectors to own unique profitable NFTs that have verified authenticity on blockchain technology. The popularity of NFTs is driven by scarcity, rarity, and the ability to trade these digital collectibles. As the NFT market evolves, collectors must stay informed, exercise caution, and explore opportunities that align with their interests and investment goals.