Non fungible tokens have generated a lot of interest in recent times. The fact that there are many collectors who like the idea of ownership of original items is the reason for their popularity. It matters that the collectibles are representative of items that have been registered on the blockchain.
What are some examples of non fungible tokens (NFTs)? NFTs have been adapted in many fields such as gaming, decentralized finance (DeFi) and many more. Even though there are some limitations in tokenization of physical objects, even this sphere is not completely left out. So both physical and digital items have benefited from this revolution.
Let’s take a closer look at some NFT examples to help us understand how this idea is being adopted by developers in several fields.
Pudgy Penguins are non fungible tokens that were built on the Ethereum blockchain. There are just 8,888 NFT penguins available on the Pudgy Penguin metaverse. These are tokenized penguins that the collector can buy at the NFT marketplace and store them on the blockchain.
These penguins reside in the arctic metaverse of the Ethereum blockchain. Since these are rare creatures based on the total available number of tokens, they are priced by the collectors. Each Pudgy Penguin is a unique item that collectors can buy and own on the virtual arctic metaverse. One penguin has an average price of 2.8 ETH. 4,200 collectors have bought these penguins. It has a trading volume of 18,700.
Axie Infinity is a virtual metaverse and a gaming platform where the player can own NFTs. The game play involves battling aliens known as axis, collecting premium items and investing in virtual estate such as land available in the metaverse.
The platform is one of the most popular NFT gaming sites with over 250,000 daily users. It recently surpassed the $1 billion mark in sales, making it the most popular NFT gaming platform ever built on the Ethereum blockchain.
Axies are built to hunt for treasure, build and battle. The collector can use them to accomplish objectives in the metaverse such as embark in adventure and build their virtual estate. Axies can also be used in breeding to produce more desirable traits in the offspring.
Players can own virtual estates in the form of land which they can buy and hold as barons. They can also lease or rent their land to tenants and get paid rents for them. Its internal currency is AXS which is easily exchanged for wrapped ETH (wETH). An internal marketplace makes it easy for players to buy and sell NFT via the platform. AXS is also available in the secondary market.
This is another NFT minting platform that is based on Ethereum’s ERC-721 platform. Art Blocks enables users to deploy generative content on the blockchain in a manner that makes it easy for collectors to access them. These works are hosted in the form that makes it easy for those that need them to have tokenized versions minted for them.
Being based on the blockchain means that these contents are immutable and so access to them demands that the prospective buyer uses the compliant token to unlock the seed that gives them access to items such as artworks. The creator determines that type of license that is available for each work. This determines what the collector is paying for.
The generated NFT sent to the buyer could be in the form of an image, an interactive content or in 3D. Generative content on the platform may be decentralized, but the same cannot be said of the Art Block platform which is administered by a team that decides what artwork that can be deployed and those that are not approved on the platform.
Cats feature prominently among the favorite themes deployed on the blockchain as NFTs. Cool cats stretch the imaginations in terms of possibilities available in “building” cats. Cool Cats gives the virtual cat collector a lot of options in what can be made available as an NFT.
Cool Cats was built on the Ethereum blockchain. The first generation of these cats comprise 10,000 cats out of a possible total of 300,000. The collector has the option of owning cats that vary in color, hat, dressing, body type, face, outfit and more. However, each cat is a unique item that is different from another cool cat.
$29 million Cool Cats NFTs have been sold in 26,000 sales. The Cool Cat platform isn’t just about making unique cats. The second generation cat project would include breeding of cats.
This is a NFT project that has made more that $701 million in sales. This is not surprising because it is among the earliest NFTs deployed on the Ethereum blockchain. After its launch in 2017, the project is part of the inspiration that led to the development of the ERC-721 that has revolutionized the non fungible token sphere.
Cryptopunks are peculiar because each of the collectibles is unique and a maximum of 10,000 would be minted. There are male and female crypto punks that can be minted. These are 6,039 males and nearly 4000 females (3,840) that could be minted on the blockchain from which they derive their uniqueness.
This means that no collector can own a collectible NFT that is exactly like what another collector owns. These pixelated avatars that live on the Ethereum blockchain were freely available for collectors after its launch in 2017. These days, some are valued at thousands of dollars. Crypopunks is an example of computer generated art.
Bored Ape Yacht Club
Another popular NFT that people are talking about is the Bored Ape Yacht Club (BAYC). This platform is built on the Ethereum blockchain and has its digital collectible apes on it. The owner would have access to some privileges associated with the membership of the yacht club.
So investing in the digital Bored Ape makes the collector an automatic member of the club. The cost of acquisition of one digital ape is 0.08 ETH. The uniqueness of each ape is based on 170 possible variations such as facial expression, apparels and more.
The apes are considered rare pieces of artworks since just 10,000 of them can be minted on the blockchain. Some of the benefits of the membership include access to the bathroom and other features. The project is still in development and would add more appealing features down the line.
Punks Comic is a series that comprises adventures that the collector could purchase mainly for entertainment purposes. This is unlike many NFTs in the market that folks use as investment vehicles or a collector’s dream. This unique adventure series can be accessed at Open Sea.
The editions are limited and so are considered scarce digital collectibles. For instance, issue #1 has been sold out on the Punk Comic platform. However, a collector can still access them for purchase in the secondary market. The series is about unique characters with peculiar histories about them. These are expressed as stories and adventures.
NBA Top Shot
The possibilities are infinite when considering what can be placed on the blockchain. This set of NFT collectibles are approved by the NBA, enabling basketball enthusiasts to gain access to licensed collectibles. These are high-points in the history of NBA games. 8 million in sales have been made of these NFTs as a testimony to its popularity among collectors.
These exciting moments in NBA matches are collectible and tradable in the marketplace. These great moments are sold as packs that enable collectors to have access to licensed interesting moments in the season’s games. They can also purchase past seasons’ exciting moments in matches. The platform allows the user to explore moments and choose what to buy. The most expensive moment was sold at $19,999.
Cyber Kongz VX
Cyber Kongz are randomly generated works in 2D and 3D. These essentially are social avatars that the collector can keep or use for their entertainment or pleasure. These avatars bear the uniqueness associated with NFTs. Some have simple looks while others are more complex in appearance.
The collector would find an avatar that appeals to their imaginations on what a collectible should look like. Genesis holders of the token can mint the avatars on the platform. These voxel-based avatars are available on the platform for minting at no extra cost for these holders of genesis Cyberkongz NFTs (ID #1-#1000).
Those that want to mint randomly generated avatars with different traits would have to hold the cyberkongz token with ID#1001-#5000. An Initial Kongz Offering offers the public the opportunity to mint these unique avatars at the cost of 0.07 ETH excluding gas fees. The platform has Sandbox integration and enables the holder to play in a metaverse that is the player’s dream.
Meebit is peculiar as an Ethereum based NFT. It features 3D voxel-minted characters that can be exchanged at zero fee on the marketplace. There are only 20,000 Meebit characters that can be minted on the blockchain.
This is a tokenonics feature that ensures that it is a scarce non fungible token. These are accessible through any market with ERC-721 compatibility blockchain. This platform renders 100 Meebits NFT transactions per second as a scalable project. The standard deals on the platform comprise simple ask, bid and buy.
Meebits is an increasingly popular NFT platform possibly owing to the fact that it was built by the founders of CryptoPunks, one of the earliest NFT platforms built on the Ethereum blockchain. The NFTs on this platform can be animated after the collector purchases an asset pack. This is possible through the built-in T-pose OBJ file used in 3D modelling installed on the platform.
World of Women
Virtually every theme can be built on the blockchain, so it is not surprising that this digital arts NFT platform is minting unique arts of women. The World of Women (WoW) is a platform that features various categories of women that are representative of the diversity that is present in the human race. It comprises 10,000 unique images of women minted on the Ethereum ERC-721.
The choices available at WoW reflect the many traits that are found in women of all shades and color. All these images of women are generated randomly on the blockchain and exhibited on the platform as collectibles. Owners of these NFTs can share in royalties generated by the platform. They can be downloaded as 800×800 PNG, nevertheless, only the owner collector can unlock the full resolution of the artwork.
These are termed lovely voxel-minted buddies by the makers. These blockchain built NFTs enable collectors to compete in games with the prospect of earning and owning these digital assets. There are two main categories of voxies. These are the voxel buddies and the voxel tactical meant to be used in role playing games (RPGs).
The collectibles are limited and unique in that there are just 10,000 or the 3D buddies that can be minted based on its tokenomics. As in all NFTs, no two buddies are exactly the same, so a collector gets a unique token. The only exception to this rule is the twin Buddies. These are a limited number of NFT buddies that are exactly the same and feature on the platform as twins.
There are just 2 twins among all the buddies, making them the rarest collectibles on the ecosystem. There is a free mode that enables players who do not own the token to participate in the games. Contests are also available where gaming enthusiasts can compete against one another or play with the computer or even friends. This gives the players the opportunity to earn rewards.
The in-game NFTs belong to the players that use them in game play. These items can also be bought, sold or used as collateral for loans. The player can also join in the hunt for 2 hidden voxie eggs that are valued 2 ETH each.
Access to an exclusive club of sorts using NFT may not be termed ingenuous. However this is what VeeFriends has accomplished by creating an exclusive club that is accessible to holders of the VeeFriends token. The Veecon is a member-only club of sorts that promotes business, entrepreneurship and other ideas that can be of immense benefit to the members.
Access to the membership gives participants tickets to conference-like seminars where innovations and business opportunities are explored. Just 10,255 VeeFriends tokens are available. The inaugural Veecon session will be held in North America in 2022.
What we have seen with NFT examples is that developers and founders are exploring the potentials of the blockchain using the non fungible concept to give collectors opportunities to pursue their passion and interest. This is done with the hope that the tokenomics built into these tokens actually make them worthwhile investments while satisfying the needs of the owners.