As you dive into the world of the NFT, after questions:
the following questions arise:
- what NFT coins to buy?
- in which NFT cryptocurrency is it better to invest in order to increase your capital?
And these are absolutely logical questions both beginners and experienced players. To answer, you should understand the specifics of the market, know the strong players, follow the dynamics, trends and news of all major blockchain projects. In addition, you should pay great attention to the volatility of the currency, the speed of transactions, the whitepaper and roadmap of the project, price fluctuations by month, year. In this article, the NFTmetria team made an overview of best NFT cryptocurrencies, which we also follow ourselves. As a metric, we took the market capitalization of the cryptocurrency, but this, of course, is not the only indicator by which we judge.
1. Decentraland (MANA)
1 MANA = $0.8432
Market Cap = $1.58B
• Twitter Followers – 630 669
• Reddit Followers – 15,915
About the project
According to the Whitepaper, Decentraland is the first metaverse on the Ethereum blockchain with support smart contracts. The authors built the system on the principle of a decentralized autonomous organization (DAO), thanks to which the participants can influence the management of the project. Also public attention to this platform is regularly supported by various celebrities and global corporations by buying land, goods and services. In addition, participants can build up their plots, go to shops, museums, use all the infrastructure and generally live like in a real city. All in-game assets are monetized thanks to their own coin MANA. Today, this coin is one of the most promising NFT cryptocurrencies.
About MANA cryptocurrency
The Decentraland (MANA) cryptocurrency is a token created by the authors of the project using the ERC-20 protocol based on the Ethereum platform. Altcoin performs the function of in-game money of the Metaverse.
Let’s list some characteristics:
- firstly, transactions are verified by the Ethereum network and registered on the blockchain.
- secondly, tokens spent on the acquisition of land plots are burned after the sale.
- thirdly, removal of game currency from circulation provides deflation.
- fourthly, released in limited quantities, the main goal is to provide a game.
Players can buy MANA on cryptocurrency exchanges, as well as earn on trading. At the same time, the coins themselves are not backed by real assets (gold, shares) and fiat money. The value of the token is affected only by user demand.
2. FLOW (Flow)
1 FLOW = $1.50
Market Cap = $1.53 B
• Twitter followers – 167 547
• Telegram users – 17 379
About the project
The CryptoKitties development team was prompted to create the Flow blockchain by the incorrect work of their offspring in Ethereum, when there were problems in the network with scaling and requirements solid commissions. So, for their users, the developers of Dapper Labs decided to create more acceptable conditions by offering them a cheaper and faster system. The system was tested with the participation of world-class partners.
Today, the digital platform is available to everyone who is able to improve it and receive dividends from working on the network.
It follows from the Whitepaper data that, unlike other crypto networks, Flow provides a significant increase in speed and throughput by dividing the tasks of a miner or validator into four separate functions.
About Flow cryptocurrency
Why is this coin included in the ranking of the best NFT cryptocurrencies? Flow is the native currency for the network. It provides the functionality of applications and smart contracts in the system. With its help, there is a settlement in the blockchain between users and developers. It is a reward to users for their actions on the network. Thus, its circulation in the network ensures its functionality.
Flow has a limited supply of 1,368,390,492 units. As a result, this assumes the absence of growth in inflation indicators and the prospect of an increase in the value of the asset. The purchase of a digital asset is possible on the largest exchanges.
3. Tezos (XTZ)
1 XTZ = $1.51
Market Cap = $1.34B
• Twitter followers – 461 087
• Telegram users – 10 310
About the project
The project is based on its own public open source blockchain. Hundreds of smart contracts were deployed on its basis, and products related to the tokenization process, games, dapps, DeFi, NFT were developed. The blockchain works on the Proof-of-Stake (PoS) consensus mechanism.
In Tezos, any staker can participate in reaching consensus, receive rewards from the protocol maintaining its stability and improving security. The advantage of this subspecies of PoS is the low entry threshold for participation.
Validation Process is called baking, and its participants are called bakers.
It follows from the Whitepaper that users can earn through passive mining. Moreover, staking is available not only through the platform’s wallet, but also through exchanges (Binance and Coinbase).
About XTZ cryptocurrency
XTZ is not a stablecoin, it does not have a real backing that would ensure the stability of the exchange rate (assets, natural resources, precious metals). So, the cryptocurrency belongs to the class of high volatility. Despite this, the coin is included in the ranking of the best NFT cryptocurrencies to invest in. Dynamic Ledger Solution and the Support Fund took steps to create the prerequisites for price growth, not decrease: profitable staking, increased investor interest due to the voting system, regular protocol updates.
According to Whitepeper, the release of XTZ on the network is unlimited. They are created as new blocks are generated, but at the same time, some of them are “burned” due to violations in the work of validators. Additional emission is also possible if the baker, when making a proposal for a protocol update, sets a reward himself in coins. If the change is approved and implemented, new tokens will be generated for it.
XTZ, also known as “tez”, can be purchase on most major exchanges, including Binance, Coinbase, and more.
4. ApeCoin (APE)
1 APE = $4.46
Market Cap = $1.3B
• Twitter followers – 372 759
• Telegram – missing
About the project
The main reason for the success of ApeCoin is its connection with Yuga Labs. This is a web3 company that created the “elite” NFT collections: Bored Ape Yacht Club and Mutant Ape Yacht Club, and also bought the copyrights the CryptoPunks and Meebits NFT brands from Larva Labs.
It is Yuga Labs that is behind the creation of the DAO, although they are now trying to distance themselves from this initiative in order to comply with some SEC regulations.
The ApeCoin Metaverse is a Decentralized Autonomous Organization (DAO) in which all APE holders can participate in the decision making of the platform. In particular, they can influence the addition and removal of projects in the APE ecosystem, the updating of governance rules, the selection of partners, and the distribution of funds from the ecosystem fund. Now the ApeCoin DAO fund is filled with income from Bored Ape Yacht Club, CryptoPunks and Meebits. In the future, it is also planned to be funded through fees and profits generated by NFT solutions launched on the platform.
About APE cryptocurrency
The first listing of this coin took place on March 17, 2022. According to the whitepaper, APE is a governance token in the ApeCoin ecosystem, which is used to launch and interoperate solutions in the field of NFT, pay-to-earn (P2E) and metaverses. In addition, APE has also been adopted as the main token all products and services of Yuga Labs, the authors and publishers of the Bored Ape Yacht Club NFT collections and the owner of two more NFT collections: CryptoPunks and Meebits.
The big name of the creators of the metaverse, the confidence in the promotion of this coin gives us the opportunity to confidently include this project in the ranking of the best NFT cryptocurrencies. ApeCoin has a much better chance of success than Gala Games (GALA), Decentraland, The Sandbox, Axie Infinity and other similar projects as Yuga Labs is currently one of the largest firms ever created.
5. Theta Network (THETA)
1 THETA = $1.33
Market Cap = $1.3B
• Twitter followers – 260 395
• Reddit subscribers – 28 536
About the project
The goal of the project and the THETA cryptocurrency is to create the best decentralized network for streaming video (Streaming Video), which will solve the main problems of the existing industry. Namely, high costs, low income content creators, management by one body, poorly developed infrastructure.
The network provides high bandwidth. Coins can be used for fast transfers, including between crypto exchanges.
The system uses a unique consensus mechanism – Multi Byzantine Fault Tolerance (a subspecies of PoS). It differs from the classic BFT, because the latter does not allow a high level of decentralization and does not provide high throughput.
About THETA cryptocurrency
Cryptocurrency is at the heart of a decentralized platform with unique technical solutions for video streaming. THETA has a limited supply of 1,000,000,000 units. This allows you to control inflation and gives the prerequisites the growth of the price of the coin. Another regulatory mechanism that maintains exchange rate stability is staking, as users freeze part of their coins.
THETA is traded on dozens of centralized platforms. Also, the authors have already launche the first decentralized exchange ThetaSwap on the blockchain of the project. It uses a smart contract system similar to that used on Uniswap. That is, there is an automated conclusion of transactions.
6. Axie Infinity (AXS)
1 AXS = $15.22
Market Cap = $1.22 B
• Twitter followers – 950 604
• Telegram users – 64 032
About the project
Axie Infinity is the world’s most popular blockchain game. Vietnamese company Sky Mavis took inspiration from the once-popular Pokémon franchise and created a P2E game. It is rated daily by more than 1 million players, and at the same time they earn. The uniqueness of the project lies in the fact that it resembles a kind of investment: at the initial stage, the player needs to buy characters, but the further income of the gamer will depend on his skills and efforts.
The goal of the players is to breed and raise Axies, build kingdoms for them and of course fight. At the same time, they can earn by buying and developing plots of land (Land), engaging in selection or battles, quests. All game items, resources, creatures are tokenized, they are NFTs. And they can be freely sold in peer-to-peer markets.
The world of Axie Infinity has an economy where players trade the resources they earn. All major operations within the game are performed using AXS.
About AXS cryptocurrency
Having such a loud and confident success of the entire project, this coin is definitely included in the TOP of the best NFT cryptocurrencies. AXS acts as a governance token in the gaming universe. It was generated on the Ethereum network, ERC-20 standard. The maximum offer volume is 270,000,000 AXS.
As a result, it is protected by the Ethereum Proof-of-Work (POW) consensus mechanism. According to the whitepaper, the total supply of AXS is 270,000,000 tokens. Holders can receive rewards for:
- firstly, staking;
- secondly, participation in voting on project management issues;
- thirdly, game in the metaverse;
- fourthly, creation of content for users.
7. The Sandbox (SAND)
1 SAND = $0.9521
Market Cap = $1.18B
• Twitter followers – 1 008 935
• Telegram users – 104 143
About the project
The Sandbox Game is an online multiplayer game using blockchain technology with elements of decentralized finance (DeFi) and non-fungible tokens (NFT). Sandbox is a whole gaming metaverse where players can buy and sell “LAND”, create and sell their own “ASSETS” – NFT tokens, and also participate in project management, determining the vector of its further development.
About SAND cryptocurrency
SAND is the native token of The Sandbox decentralized gaming platform, issued in the ERC-20 standard of the Ethereum network. Total NFT of cryptocurrencies is 3,000,000,000. The total offer 3,000,000,000.
SAND is used to complete all transactions and interactions throughout The Sandbox ecosystem. Players need to own SAND in order to play the game, customize their avatars, purchase lands, or trade Assets on the Sandbox Marketplace. Also, as a governance token, SAND allows its holders to propose and vote changes to the platform through a decentralized autonomous organization (DAO) structure.
8. Chiliz (CHZ)
1 CHZ = $0.09958
Market Cap = $587.72M
• Twitter followers – 443 022
• Telegram users – 22 733
About the project
The main goal of the developers of the Chiliz platform is to unite fans of sports teams in one place where they can vote on various issues. For example, football clubs FC Barcelona, FC Juventus and AC Milan are already cooperating with this platform and have been able to replenish their budgets by $30 million in total. Each club has issued its own fan token, upon purchase of which fans can take part in voting for the choice of club president, kit design, home stadium name, etc.
The project runs on the Ethereum blockchain. This uses the Proof-of-Authority consensus mechanism (an alternative to PoW for private networks). POA does not depend on nodes that do complex mathematical calculations, but uses a set of authorized nodes that can generate new blocks and protect the network. Each block must be signed by the majority of nodes. Mining in the system is not provided.
About CHZ cryptocurrency
NFT cryptocurrency was developed on the basis of the decentralized Ethereum network. The standard is ERC20. CHZ was created for its own online platform.
Through Socios, users can exchange Chillz for fan tokens. Holders of these branded altcoins participate in surveys, receive rewards, gain loyalty points and earn places on the leaderboard. But most importantly, they influence their favorite team.
The total issue is 8,888,888,888 pieces. Limited issuance reduces the risk of inflation and provides grounds for price growth.
Like most other altcoins, CHZ has no backing. It is not backed by gold, precious metals, stocks or natural resources, and the rate is not pegged to fiat. Relative stability the support of investment funds, the generation of new tokenized assets (Fan tokens), and the development of projects provide support prices and protection against sharp jumps.
The uniqueness of the project and the functionality for sports fans gives a strong support to the CHZ, thanks to which the coin is included in the list of the best NFT cryptocurrencies.
9. Enjin Coin (ENJ)
1 ENJ = $0.4955
Market Cap = $436.49M
• Twitter followers – 537,000
• Telegram users – 64 388
About the project
The Enjin platform powers an entire ecosystem of NFTs, games and applications. The Enjin network has a unique approach that gives value to every game or platform asset. In addition, their community management platform (CMS) allows users to create websites, shops, forums, as well as in-game plugins. What’s more, the CMS helps combat fraud within the community, reduces settlement times, and keeps transaction fees low.
Enjin has brought together more than 20 million Minecraft players and given them the opportunity to create communities of like-minded people. Blockchain tokens and NFTs are easily integrated across multiple platforms. Thanks to this, game developers and major game brands such as Minecraft can collaborate cross-platform.
According to the whitepaper, the ENJ network relies on miners, not staking. Enjin tokens work on a PoW consensus algorithm and can be mined.
About ENJ cryptocurrency
ENJ is a native token of the Enjin platform, powered by the Ethereum blockchain and designed to make NFTs easier to work with. It is used to support the value of NFTs created in the Enjin ecosystem. ENJ is tradable, secured by Ethereum smart contracts, and DeFi compatible based on the Ethereum blockchain.
It is one of the best NFT cryptocurrencies. You can use it to buy, sell, and trade NFTs, as well as manage, create, and destroy in-game items.
10. WEMIX (Wemix)
1 WEMIX = $2.90
Market Cap = $357.72M
• Twitter followers – 24 347
• Telegram users – 6 737
About the project
Wemix is a multi-chain decentralized gaming blockchain platform. In the whitepaper, the authors claim that the system has eliminated the problem of high gas fees and high transaction speeds. This is possible thanks to a combination of private and public blocks, as well as a bridge between them.
Metaverse provides private blockchains to increase the number of games, and also launched its own crypto wallet that converts Wemix and in-game tokens.
About Wemix cryptocurrency
Our review of the best NFT cryptocurrencies concludes native token of Wemix blockchain game platform. Cryptocurrency is intended the purchase of characters and items.
WEMIX is a secured stablecoin. A total of 1,018,187,200 coins were issued. Coin is issued at a rate of 60 tokens per minute.
Should I buy NFT cryptocurrency in 2022?
Before investing, it is important to assess the general state of the market. If you pay attention to the dynamics of changes in the value of cryptocurrency over the past six months, you can see that the market is in decline. But the crypto world lives in cycles, and each new cycle is much more progressive than the previous one. Is it worth investing in NFT cryptocurrencies? Our answer is yes, it is promising. But with a cold mind, pragmatism, market analytics and foresight.