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Top NFT Tokens in 2023

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Top NFT tokens in 2023

Top NFT tokens have taken the digital world by storm, attracting significant attention from art collectors, investors, and fans. This article discusses what they are and why they are so popular. Let’s dive in!

What are top NFT Tokens

Introduction

Non-fungible tokens (NFTs) have gained immense recognition in recent years thanks to the rise of blockchain technology and the growing interest in digital art and collectibles. NFTs are unique digital assets verified on a blockchain network, making them one-of-a-kind and valuable in their own right.

As our world progresses in the digital revolution, NFTs have become an increasingly important part of the art, gaming, and entertainment industries, with many artists, musicians, and companies using them to create and sell unique digital assets.

This article will explore top NFT tokens in today’s market based on key factors such as market capitalization, trading volume, community engagement, overall trend, and future potential. We’ll explore the top 10 NFT tokens that investors and collectors should keep an eye on in 2023 and some notable NFT tokens worth considering. Whether you’re a seasoned crypto investor or a newcomer to the world of NFTs, this article will provide valuable insights into the most promising NFT tokens in the market.

Blockchain-based Non-Fungible Tokens, or NFTs as they are commonly referred to, are digital assets with distinct characteristics and unchangeable records stored in a secure ledger. Unlike fungible tokens, such as cryptocurrencies, which are interchangeable and have identical value, NFT tokens are one-of-a-kind and have their distinct value based on their uniqueness.
NFT tokens can represent a wide range of digital assets, including artwork, music, videos, virtual real estate, and in-game items. They are verified on a blockchain network, making them tamper-proof and verifiable, which is one of the critical advantages of NFT tokens.

NFT tokens can be bought and sold on various online marketplaces and platforms. Some of the most popular marketplaces for buying and selling NFT tokens include:

  1. OpenSea: This is one of the largest NFT marketplaces, with a wide range of digital assets available for purchase.
  2. Rarible: This popular NFT marketplace allows users to create and sell their own NFTs.
  3. SuperRare: This curated NFT marketplace specializes in high-quality, unique digital artwork.
  4. Nifty Gateway: This marketplace is focused on digital art, with weekly drops from famous artists.
  5. Foundation: This marketplace is focused on high-end digital art, with a selective curation process and a focus on exclusivity.
  6. Binance Marketplace: This is the NFT marketplace by Binance, one of the biggest cryptocurrency exchanges in the world.

No, Bitcoin is not an NFT. Bitcoin is a cryptocurrency, which is a type of digital asset that is designed to function as a medium of exchange, much like traditional currencies. Unlike NFTs, which are unique and indivisible digital assets, Bitcoin is fungible, meaning that each Bitcoin unit is interchangeable with any other Bitcoin unit and has the same value.

While Bitcoin and NFTs share some similarities, such as their use of blockchain technology, they serve different purposes and have other properties. Bitcoin is primarily used as a currency, while NFTs are typically used to represent unique digital assets such as artwork or collectibles. Additionally, Bitcoin is divisible into smaller units, while NFTs are indivisible and represent a single, unique asset.

An NFT (Non-Fungible Token) is a token on a blockchain, a decentralized digital ledger. So, an NFT is a type of token, but it is not a coin.
The main distinction between coins and tokens is that coins are designed to function as a currency or medium of exchange, while tokens can represent a wide range of assets or utilities.

While some tokens are designed to serve as a currency or a means of payment, others represent unique assets or provide access to specific services or functionalities.
NFTs are a type of token that represent unique and indivisible digital assets, such as artwork, music, videos, virtual real estate, and in-game items, among others. Unlike fungible tokens, such as cryptocurrencies, which are interchangeable and have identical value, NFT tokens are one-of-a-kind and have their distinct value based on their uniqueness.

There are several reasons why someone might buy an NFT (Non-Fungible Token):

  1. Collectibility: NFTs can represent unique and rare digital assets, such as artwork, music, videos, and in-game items, among others. Collectors may be willing to pay a premium for the ownership and authenticity of such things.
  2. Investment: Some investors see NFTs as a potential investment opportunity, similar to how people invest in traditional art or collectibles. The value of NFTs can appreciate over time, depending on factors such as the creator's popularity, the asset's uniqueness, and market demand.
  3. Supporting Creators: Buying an NFT can be a way to support a favorite creator or artist, as it provides them with a way to monetize their digital creations and retain ownership and control over their work.
  4. Access to exclusive content: Some NFTs can provide exclusive content or experiences, such as VIP tickets to events, meet-and-greets with celebrities, or limited edition merchandise.
  5. Social status: Owning an NFT can be seen as a symbol of status and prestige, particularly if the asset is highly sought after or unique.

Criteria For Selection of Top NFT Tokens

When selecting the top NFT tokens, several factors come into play. This section will discuss the key criteria we used to evaluate and rank to create NFT tokens list.

Market Capitalization

Market capitalization measures the total value of a cryptocurrency or token, calculated by multiplying the total number of tokens in circulation by their current market price. It’s an important metric to consider when evaluating the potential of an NFT token, as a higher market cap generally indicates a more extensive user base and more robust infrastructure.

Trading Volume

Trading volume refers to the total number of tokens traded on a given exchange or platform over a specified period. A high trading volume can indicate strong investor demand and liquidity, which can help ensure the token maintains its value over time.

Top 10 NFT Tokens - logos of tokens (Decentraland, Bora, ILV, etc.)

Community Engagement

Community engagement is another key factor to consider what are the best NFT tokens to buy. This includes factors such as the size and activity of the token’s community on social media, forums, and other platforms, as well as the level of developer activity and engagement with the token’s ecosystem.

Overall Trend and Future Potential

Finally, we looked at the overall trend and future potential of each NFT token on our list. This includes factors such as the token’s historical performance, the strength of its use case, and any upcoming developments or partnerships that could impact its value in the future. We also considered the overall trend in the NFT market as a whole, as well as the potential impact of regulatory changes or other external factors.

By considering these key criteria, we were able to select the best NFT tokens that have the most potential to deliver long-term value for investors and collectors alike. In the next section, we’ll take a closer look at the top 10 NFT tokens to watch out for in 2023.

Top 10 NFT Tokens To Watch Out For in 2023

Here is the list of NFT tokens to watch out for in 2023:

ApeCoin (APE)

APE, an ERC-20 fungible token constructed on the Ethereum blockchain, was initially airdropped to anyone owning either Bored Ape Yacht Club (BAYC) or Mutant Ape Yacht Club (MAYC) NFTs. This unique event created one of the most lucrative crypto airdrop events in history – each holder of a BAYC NFT received over $100K worth of APE at launch.

Best NFT Tokens - Ape Coin logo

Becoming a holder of APE will make users part of the Ape decentralized autonomous organization (ApeDAO), allowing them to bring their voice and influence on proposals that shape the community around this incredibly powerful token.

Not only is APE intended to be used in network governance, but it also serves as a utility token – or currency – that can be utilized across web3-based projects like video games and metaverse worlds. According to CoinMarketCap, APE is ranked at the top of popular NFT tokens as of February 25th, 2023.

Decentraland (MANA)

Decentraland (MANA) is a virtual reality platform powered by the Ethereum blockchain that allows users to construct, explore, and monetize content and applications. You can purchase parcels of land here in this cyber realm, where you are free to traverse, create upon, and make money from your creations.

In 2017, Decentraland raised $24 million during its Initial Coin Offering (ICO) and commenced its closed beta in 2019. Shortly afterward, it opened to the public in February 2020, and users have since unleashed a plethora of creative experiences on their parcels of LAND – from interactive games to 3D scenes and beyond.

Where can i buy nft tokens - Decentraland logo

Decentraland operates on two tokens: MANA and LAND. To acquire the non-fungible ERC-721 LAND token, you must burn your MANA (an ERC-20 token). Additionally, you can use your MANA to purchase a range of avatars, garments, names, and more from Decentraland’s marketplace.

Decentraland is a game-changing virtual world platform that utilizes the Ethereum blockchain to allow users to create, experiment with, and monetize content. Players can purchase exclusive plots of land as NFTs using MANA tokens on Decentraland’s platform. The progress in this innovative universe solely depends upon the players’ ambition and creativity.

Axie Infinity (AXS)

If you’re a fan of trading and battling games like Pokémon and Tamagotchi, then Axie Infinity is for you! This blockchain-based game – partially owned by its players – lets gamers collect and breed their token creatures known as Axies. Plus, they can raise them before pitting them against each other in exciting battles.

Axies exhibit a variety of forms, and there are more than 500 distinct body parts that players can choose from. These include aquatic, beast, bird, bug, plant, and reptile elements with four levels of rarity: common, rare, ultra-rare, and legendary. Allowing any combination of these components to be used in creating an Axie character, player’s creations become one-of-a-kind, making each creation uniquely valuable.

NFT tokens list - Screenshot of Axie Infinity official page

Every single Axie is an exclusive non-fungible token (NFT) with diverse strengths and attributes that can be dueled in 3v3 battles. The victorious team will gain experience points (exp) to level up their stats or develop new body parts. Furthermore, these Axies can breed together to create new variants which could be used or sold on the Axie Infinity Marketplace. Moreover, a unique governance token is known as ‘Axie Infinity Shards’ (AXS). With these tokens, holders can partake in the governance of Axie Community Treasury and have a voice in how the funds are allocated.

The Sandbox (SAND)

In 2011, Pixowl launched The Sandbox, a gaming platform that allows users to create and build digital assets through blockchain-based virtual worlds. The Sandbox connects an empowered decentralized gaming community by leveraging the power of DAOs (decentralized autonomous organizations) and NFTs (non-fungible tokens). As stated in their official whitepaper, this platform’s main ambition is to bring blockchain technology into mainstream gaming with success.

The platform is designed to promote an innovative “play-to-earn” model, enabling users to be both creators and gamers simultaneously. Blockchain technology helps The Sandbox succeed by introducing the utility token SAND, which permits transactions within the platform.

Enjin Coin (ENJ)

Enjin Coin is the brainchild of Enjin, an innovative company offering interconnected blockchain-based gaming solutions. Among its most popular products is the Enjin Network – an immersive social gaming platform where players can make forums and clans, chat with peers, and host virtual item shops.

Top 10 NFTS - Screenshot of Enjin official page

Enjin Coin, an ERC-20 token, allows game developers to create digital assets with real-world value on the Ethereum blockchain. This revolutionary technology was introduced in July 2017 and made available on the Ethereum main net in June 2018. Through Enjin’s platform, gamers can confidently purchase, trade, and sell their items, knowing that they are backed by tangible currency.

Render Token (RNDR)

Render Token (RNDR) is a revolutionary distributed GPU rendering network created in 2009 by OTOY, Inc. CEO Jules Urbach and officially launched in 2017 with its first public token sale. From January-May 2018, RNDR held a private round of sales that sold 117,843,239 tokens at the equivalent rate of 1 RNDR = USD 0.25 each. This blockchain technology provides artists and studios access to mighty GPU computing power from mining partners for rent.

Early adopters were invited to join the RNDR Beta Testnet trial during the exclusive sale period. In this development phase, beta node operators and artists partnered with the RNDR team in constructing and assessing the network until its public debut on April 27th, 2020.

GALA (GALA)

GALA is a fundamental utility token utilized in Gala Games to purchase NFT items and reward Founder’s Node operators for their services. It also serves as the Gas token when covering network fees on the blockchain platform. Half of its daily emission is delegated to Founders’ Node operators. In contrast, the other half goes into an exclusive conservatorship controlled by Gala Games, reserving these resources for future development or project funding initiatives.

List of NFT Tokens - Gala Games Logo

STEPN (GMT)

STEPN is an innovative, Web3 lifestyle application with GameFi features on the Solana blockchain. This app combines elements of play-to-earn gaming and fitness applications to create a novel concept called “move-to-earn.” By investing in Non-Fungible Tokens (NFTs) such as sneakers, users can acquire in-game currency by simply walking, running, or jogging.

By introducing features such as “proof of movement,” a dependable GPS, and financial incentives, STEPN is revolutionizing the fitness app market. Not only that, but it provides users with social rewards elements and helps contribute to carbon neutrality-all while motivating millions of users to live healthier lifestyles.

BORA (BORA)

Bora is a revolutionary, decentralized ecosystem for gaming and entertainment that appeals to the GameFi sector. To circumvent exorbitant gas fees on blockchains like Ethereum, Bora has developed a two-tiered blockchain system – BORA token traded on Klaytn’s public blockchain geared towards metaverse and gaming use cases. At the same time, the Bora chain is optimized as an execution layer designed explicitly for DApps.

Best NFT tokens to buy - Bora token logo

The Bora team offers development toolkits to support developers in crafting decentralized applications on its platform. To encourage contribution to their ecosystem and help fund development efforts, they use a currency called Bora Points that can be exchanged for their BORA token.

ILLUVIUM (ILV)

Illuvium is an excellent open-world fantasy battle game built on the Ethereum blockchain that guarantees unparalleled entertainment and excitement. As one of the first AAA games to be released on Ethereum, Illuvium offers casual gamers and hardcore DeFi fans a unique opportunity to trade and collect assets in an immersive digital world.

Illuvium, a captivating open-world exploration game combined with an intense PVP battle game, allows players to wander the expansive world and capture Illuvials – creatures who can become loyal members of their collection upon being defeated in battles. Players may also build up their team of powerful beasts for use when battling against other adventurers as part of Illuvium’s auto-battler gameplay.

Popular nft tokens - Colorful virtual creatures Illuvials

Top 10 NFTs – Final Word

As the world embraces the digital age, NFT tokens are becoming increasingly important in the art, gaming, and entertainment industries. From rare digital art to unique in-game items, NFT tokens offer a new way to collect and invest in digital assets.

Before investing in any NFT tokens, though, you must do your research and due diligence. The market for NFT tokens is still relatively new and volatile, so it’s important to be cautious and invest only what you can afford to lose. That said, the potential of NFT tokens is undeniable, and we believe that the top NFT tokens on our list have the potential to deliver long-term value for investors and collectors alike. We hope that you enjoyed this article about Top NFT tokens!

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