March 29, 2024

NFT is the main trend of 2021 in the blockchain. Top NFT projects. Your first steps in NFT.

NFT is the main trend of 2021 in the blockchain. Top NFT projects. Your first steps in NFTs.

 

Let's figure out what it isNFT, where it is applied, how and what areas of life will change. Let's review the top NFT projects.

Let's discuss which first steps to take in NFT.

 

NFT = Non Fungible Token. non-fungible token.

NFT is a technology that allowsdigitize interaction with any virtual and physical goods.

A thing that is unique due to its characteristics and cannot be formally replaced with exactly the same is considered to be non-fungible.

Currency- this is a classic examplefungible asset... Any dollar is equal to another such dollar.

There are much more non-fungible entities.Phone, car, sneakers are also unique, although initially they were no different from others of the same model, but in the process of ownership you made them unique.

A token is a designation of an entity in blockchain-based systems.

The author of Ether, Vitalik Buterin, has expanded the use of blockchain.

He came up with smart contracts.These are contracts that do not require a person to control their execution. This is just executable machine code and it will definitely work as programmed. Thanks to Ether, complex transactions with various digital assets have become possible.

Previously, most blockchain services and applications usedfungible tokens: bitcoin, litecoin, etherand others.

But it became clear that not all assets are inherently equal and fungible. And transferring information about them to the blockchain and entrusting smart contracts with transactions with them would be cool. This is how NFT was born.

Thus,NFT is a digital certificate that represents a unique object.

We can attach NFT to any digital product, for example - image, video, audio, etc.

The token will contain all information about the product.

A token is an exclusive right to a product. By owning, buying, selling or exchanging a token, we perform all these operations with the product itself.

Since tokens are stored in an open and distributed blockchain, information about this product, its owner and the history of transactions with this product will always be available and reliable.

NFT technology potentially allows you to tokenize, that is, transfer to the blockchain, any product. Even physical.

And digital goods are ideal for tokenization by their very nature.

Why is NFT changing industries?

Tokenization adds many useful properties to any digital product that add value to that product.

Your digital asset is now decentralized.

It does not depend on the system in which it is located. This is especially true for in-game items. You buy them, but you own them for as long as the development company allows you.

With NFT, you have a certificate of ownership for thisgoods. Another question is that its value depends on how good the game is, and in general, whether it works now, and this is completely up to the developer.

But this also applies to other digital assets.Let's say you made a GIF with a flying cat, it was distributed all over the Internet. How can you prove that you are the real owner now? Thanks to NFT, it's easy. Attach a token to the gif, and the original of the gif belongs to you. Yes, everyone else can still download it, but only you own it.

If you can verify the originality of a digital artwork, it's easier to sell.

You cannot sell the legendary sword from the game if the developers have not provided for a special marketplace.

The NFT Sword from the crypto game can be sold on any marketplace. It will go to your wallet, which connects to the game, and the game will see that this sword is now yours.

Thanks to NFT, the value of the sword is not only that with it you get high in the game.

When you get tired of playing, you can sell it and finally have at least a cat or a girl.

 

Versatility. In English it is usually calledInteroperability.

Previously, items from the game remained only in this game. Imagine that now with a sword from one game you can cut terrorists in another.

 

Programmability.

Firstly, this means that complex mechanics can be incorporated into the properties of a digital object during its creation. For example, what kind of offspring your CryptoKit will give.

 

In addition, thanks to smart contracts, steelany complex transactions are possible, not only with currencies and financial instruments, but also with things. For example, you can get a deposit for digital art or the same legendary sword from the game.

Right Click - Save Problem.

When we create a rare NFT, 11 (the number of this copynumber of copies in general) on the basis of, for example, a painting that exists only in digital form, we secure ourselves the right to own the original.

And the value of this original will not diminish,and grow as the picture itself is copied and distributed. Copies of your work will be distributed, more and more people will learn about your work, and the cultural value of your work will grow.

 

La Gioconda. Its value is undeniable.You can hang a reproduction on the wall, you can download a jeep with Gioconda to your phone, print it on a T-shirt, you can take a photo of the original in the Louvre. From this, the value of the original will only grow.

The exact same thing will happen with digital art. A complete analogy. You can put Beeple drawings on your desktop, but you don't own them.

And the owner gets all the same advantages that the owner of the original Modigliani has over the owner of the reproduction.

Looks the same, but in fact is not the same at all.

 

When we arrive at the Louvre, we know that beforeus the original. Blockchain is the Louvre. The value of a work is determined by the cultural context around it. And the blockchain fixes this value and its ownership, as it allows you to confirm the ownership and originality of any work.

A paradigm shift.

All this seems very unusual.

We are used to copying a digital asset freely.

And the copies are no different from each other. But this is because we are accustomed to assets physically. We are not digital by nature.We still need to shift our paradigm to begin to understand what digital ownership is.and how its value is formed.

But our children will feel the value of a digital original, just as we feel the value of a physical one.

 

Where is NFT already working and how it is changing these areas.

Games.

Games are now the largest sector of the digital economy with many completely non-interchangeable items.

And they can greatly benefit from the implementation of NFT. Each in-game item becomes more valuable by being tokenized. This means that the game itself becomes more valuable for the user.

Any asset in a blockchain game is highly transferable by nature. That's whygames can become a real income for many.

 

In probably the most famous crypto game, Axie Infinity, some players from third world countries earn more in games than they would earn offline.

Best projects

  • Axie Infinity - The biggest crypto game.We need to breed mythical creatures, Axie. Inspired by the Pokemon universe. Pets can fight. For them you can buy land and build your kingdom.
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  • Gods Unchained is a classic card collectible.
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  • Neon District is a cyberpunk RPG.
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  • Sorare is a football management + collecting game.
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  • CryptoKitties - A game about breeding crypto kitties. It all actually started with her.
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    Art.

    Crypto Renaissance—you can call what is happening now with art thanks to NFTs.

    Habitual values ​​change before our eyes and are reflected in art. “Crypto art” is a very broad term.

    Just like 5 centuries ago, a technology arose that turned everything upside down. Then it was typography. Now - blockchain.

    And, the artists received financial support, which allows them to devote all their free time to creativity and explore with its help the changes that are taking place in society.

    The programmability of NFTs makes it possible, for example, to make royalties automatic. That is, you canreceive% of each resale of your work... And it will not depend on the willingness or unwillingness of the middleman to pay you. The commission is registered in the smart contract and will go to your crypto wallet automatically.

    The best projects.

  • SuperRare is one of the first platforms. For rare (11) editions of digital works. High average quality of work and prices. Pre-moderation.
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  • NiftyGateway is a top platform forcryptoart. They love massive drops, when one work is sold in several copies, + separately some VIP version 11 is expensive. They organize most of the largest sales in terms of proceeds. Beeple sold $3.5 million worth of works on NiftyGateway in one weekend (though he had been painting them for 13 years before). Strict pre-moderation.
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  • Foundation is a young, pre-moderated boutique platform.
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  • Rarible is the most democratic platform. Anyone can mine (that is, tokenize) their work. Rarible is a marketplace for any NFT.
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  • OpenSea is the largest NFT marketplace in general andcrypto art in particular. Mostly secondary sales are made on OpenSea. But in general, they have everything to mint their work. It’s just a little less convenient to promote them on OpenSea. But if you rely on your subscribers, OpenSea is a great choice.
  • Famous artists.

    Beeple

    Coldie

    MBSJQ

    Muratpak

    Hackatao

    Influencers

  • Pranksy is the top trendsetter in NFTs.
  • mcuban - Mark Cuban, millionaire, collector, actively mints NFTs from his videos.
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    Virtual universes.

     

    Virtual universes or metauniverses(Metaverses) are virtual worlds that give a sense of presence in space and time, social interaction, as well as the opportunity to take part in the virtual economy of the world, which has a great influence on the community that makes up this virtual world.

    Examples of traditional virtual worlds are Minecraft and Roblox.

    Everything that belongs to you in the blockchain metaverse is yours in the form of NFT. Land, buildings, clothing.

    And youyou can bring any of your NFTs to the metaverse... For example, you can buy crypto art on SuperRare and hang it in your home or gallery.

    Metaverse and blockchain technologies are made for each other.

    What is provided in the real world by physical and legal laws, in the digital worlds is provided by the blockchain.

    The metaverse is also a great ecosystem.

    In the virtual world, you need to do something, and the developers do not have enough hands to realize all the possibilities from the real world by themselves.

     

    That isthe metaverse is such an AppStore, for which you can create your own games and applications (for example, car racing), and in-app purchases in these applications will be paid for with cryptocurrency.

    The future belongs to the metauniverses. Over the next few years, a large chunk of the population will be spending most of their time in the metaverse.

    The best projects.

  • Decentraland is the largest and most developedmetaverse. Land here is already very expensive and scarce. And users have built a lot of interesting things on it. Games, virtual museums, medieval castles and space bases. Various events are held - parties with popular DJs, for example.
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  • Cryptovoxels is an art-focused virtual world. The best exhibitions are there.
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  • Sandbox is more of a game than a metaverse, although land sales and a complex economy are present. Support VR. Large selection of built-in games.
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  • TerraVirtua is more of a builder forpersonal virtual spaces. In these spaces you can display your NFT collections, for example. They solve an obvious problem - you bought a couple of million worth of NFTs - paintings, collectibles, armor and swords. Where should we put them? You need to show them off beautifully. Terravirtua allows you to do this. Actively support AR and VR.
  • Collecting.

    The second area of ​​life after art, on which NFT technology has had the greatest impact. Moving from physical collectibles to virtual collectibles was not that difficult.

    Tokenization has added value to these items,creating new useful properties, and eliminating disadvantages. For example, virtual sports cards are not just pictures, but also videos and any other information in general. It has become easier to sell and change them, and also NFT cards do not deteriorate.

    In general, collecting is what propels NFT and blockchain into the mainstream more than Bitcoin.

    Best projects

  • CryptoPunks is the first NFT collection. 10,000 punks. There is no longer a single punk under $10,000.
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  • NBA TopShots is a breakthrough in digital collectibles. NFT cards of the best NBA shots of all time. Sales volume in the first month is more than $5M.
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  • Hashmasks is a cool project, a collaboration between 70 artists. Unique randomly generated mask characters. Beautiful and expensive.
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    Where to start.

    First, decide which area is most interesting to you.

    If you are a gamer, you can start with Axie Infinity or Sandbox.

    If art is your thing, you can try buying something inexpensive on OpenSea or Rarible, or mincing your NFT.

    In any case, you will need to create an Eth wallet.

    It is with the help of your wallet that you willlog in to all sites, in most cases you will not need to enter anything additionally, no email, no login, no password. Your Eth wallet will already uniquely identify you using your public and private key. It is very convenient. No confirmation emails and long SignUp profiles!

    You don't need ether to just log into the sites and watch how everything works. But in order to buy or release your own NFTs, you still need a little ether.

    For all transactions with Eth, you will need to pay a small commission, which will go to the people who hold the computing power that powers the blockchain.

     

    It is enough to remember that there is suchessence like gas, which isfuel for operations in the Eth networkand is bought with Eth.

    You need gas to buy NFT. You need gas to mince your NFT.

    And gas is expensive now. This is Ethereum's main problem, but it is already being addressed.

     

    Buying NFT.

    It’s better to start shopping with inexpensive lots on Rarible or OpenSea.

    You will not be able to resell every NFT for a higher price, so buy the work that you would like to own. Or the work of the author you want to support.

    Do not forget that in addition to the price of the NFT itself, you will need to pay for gas.

    Depending on the network load, this can cost you 0.03 - 0.07 ETH.

    Purchases are instant, there are auctions.

    It’s easier to buy on Rarible, it’s more difficult on OpenSea - there the new entity wETH or wrapped ether comes into play.

    It was invented in order to save on gas, so take a little complication with understanding.

    Release your NFT.

    The release of your NFT, that is, the tokenization of any object, is calledminting.

    The easiest way to hone your work is to do it on Rarible or OpenSea.

    At Rarible, your work is finished right away, so you have to take the risk and pay for the gas. And there - whether they buy or not buy - depends on the work.

     

    Opensea - useslazy minting- that is, you are just preparing everything for minting, and the actual release of NFT with a record in the blockchain and, accordingly, gas consumption, will only happen if there is a buyer for your work.

    Conclusion.

    NFT technology allows you to digitize and make interaction with any product more convenient. Ownership, purchase, sale, confirmation of originality.

    Tokenization adds value to the product.

    NFT is the main trend in blockchain in 2021.

    This technology has already revolutionized art, and games are next.

    Any commodity that cannot be eaten is likely to be tokenized.

    Digital Art is just a step towards NFT adaptation. Through a beautifully understandable sphere, this technology will soon enter all others: real estate, shares in companies, etc.

     

    How to make money on it?

    Probably to produce shovels - that is, platformsfor the marketing of NFT. Or Games that use similar tokens to sell game items. For this industry, by the way, this is also a big breakthrough, which will deprive a large number of intermediary marketplaces of money.

    And, moreover, many will move from the real world to the virtual one.

     

    In general, hype.