Undoubtedly, the Internet has been buzzing around the latest trend – non-fungible tokens. Global companies and brands are already jumping on the bandwagon, and celebs are creating and offering their unique collections.
The craze is omnipresent, with individuals earning millions and new memorabilia appearing in a digital form. In addition, investment opportunities in tokens are endless, from graphic art and GIFs to video highlights and game features.
But what are the prospects of this novel mania? Is it here to stay for long? What non-fungible tokens are, and how can you find the best NFT collectibles?
This article reveals the basics of NFTs and the kind of digital art you should be looking for online. It also explains the buying process and pinpoints reliable platforms worth your money and effort.
What Are NFTs?
As mentioned, NFT is an abbreviated form of non-fungible token. But let’s break that down to get to the core meaning of the notion. When something is fungible, that means the object or asset is interchangeable. Conversely, non-fungible is a unique item you cannot swap with something of the same value.
To illustrate this, we’ll take the example of fiat currencies. You can swap a one-dollar bill for ten dimes, for instance. Oil, gold, and other precious metals are also fungibles. Unlike interchangeable goods, non-fungibles have unique qualities. Picasso’s paintings and museum exhibits from Roman times are a few such instances. Moreover, land, memorabilia, and owned cars are also non-fungible.
Tokens refer to the digital form of various items protected by blockchain technology. Hence, the best NFT collectibles are one-of-a-kind tradable digital assets stored on blockchains that can’t get replicated. Another feature of NFTs is that they represent real-world objects like music, videos, art, and in-game items. Trading happens online, either with money or cryptocurrencies, and encoding typically runs with the crypto technology software.
So, when you buy an NFT, you become the owner of that assets on the blockchain. We can compare this with possessing physical paintings, baseball cards, trainers, and even poems. Everything is the same, except for the digital form. The point is that there is a single copy of the asset that belongs to you only.
The Various NFTs Available On Marketplaces
The most valuable NFTs today represent art and memorabilia. However, experts predict these might soon help authenticate transactions, thus saving you money and time. The best NFT collectibles can stand for tangible and intangible assets, including:
• Songs,
• Graphic art,
• Collectibles,
• Videos,
• Sports highlights,
• GIFs,
• Virtual avatars,
• In-game items,
• Designer sneakers.
Is Buying NFTs Complicated?
Though purchasing the best NFT collectibles is far from complex, you might get overwhelmed at the onset. However, you must become familiar with two technology concepts (blockchain and cryptocurrencies) before trading.
Blockchains are distributed digital ledgers that operate like shared electronic databases. You can compare them with Google Drive, but they lack the option to remove or edit information once you add them.
In most cases, you need to possess cryptocurrencies to buy NFTs. Like blockchains, you can choose from various crypto assets. Similarly, you should have a digital wallet to store your crypto and NFTs. Once you get this in order, the floor is yours.
For instance, you might use Ether to purchase an NFT, and the ownership gets recorded on the blockchain. Nobody can alter this information, and you obtain proof of the NFT in your possession through a smart contract. Besides ownership data, the document usually contains information about license fees and private keys.
What Are The Best NFT Collectibles To Buy Right Now?
Trendy non-fungible tokens that yield millions aren’t a rare sight nowadays. For example, NFTs of NBA Top Shot generated over $500 million in sales in March. Here are the most intriguing cases that staggered the world.
Mass Banner
If you are looking for a unique NTF, go for Mass Banner divided into 266,445 shares. Conceived by the artist Pak, the Merge collection has room for further expansion. Another amusing fact about this proposal is that nearly 30,000 people own the assets jointly. Though one share isn’t super-valuable, the total projects yielded $91.8 million in December 2021.
The First 5000 Days
Everydays: The First 5000 Days by artist Beeple is the most expensive digital art piece sold. As one of the best NFT collectibles ever, it portrays a collage of 5,000 digital images created consecutively and compiled in a single picture. It sold for $69.3 million last year and joined the collection of entrepreneur Vignesh Sundaresan.
Bored Ape Yacht Club
Another example of the best NFT collectibles worth mentioning is the Bored Ape Yacht Club project. As a collaboration between Eminem, Paris Hilton, and Jimmy Fallon, the collection consists of 10,000 images of apes. Each BAYC avatar has unique traits that contribute to its rarities, like clothes, fur, and earrings. For now, one NFT costs several hundred thousand dollars on the Ethereum blockchain, and prices are continually growing. Their current collective value on the OpenSea marketplace stands at 466,000 ETH or $1.4 billion.
Where To Get Your Collectors NFTs
So, what follows after you stock your digital wallet with cryptocurrencies for the best NFT collectibles? You start looking for a trusted trading place. Normally, you’d like to invest in a reliable platform with robust security, scarce non-fungible tokens, and reasonable prices. This way, what you buy today can be a wise investment worth a fortune in the future.
If this sounds like you, try NextHash NFT marketplace - Singularifty. Thanks to the long-lasting partnerships forged, the platform offers some of the rarest NFTs available in sports. And besides the ownership, you get exclusive perks like going behind the scenes with your favourite player or sports team.
Moreover, NextHash has established an affordable fee structure tailored to your needs. They accept multiple payment means, including cryptocurrencies, fiat, and bank cards. Finally, Singularifty can assist in minting and setting up various NFT assets. Hence, the platform allows you to sell, trade, and store your non-fungible collections.