What is NFT?
NFT are unique tokens that cannot be exchanged one-on-one for a matching token. Any asset that is tokenizable can be an NFT. This includes, for example, (digital) works of art, trading cards, game items and crypto domains. Theoretically, however, real estate or securities can also be mapped as NFT.
NFTs can be used for transparent mapping of ownership on a public blockchain. This allows them to store value just like real items, although additional copies are easy to make. For example, the original image of the Mona Lisa is worth significantly more than a photograph, as everyone knows which image is the original. The revolutionary thing about NFTs is that, for the first time, they can create scarcity in virtual space that can be verified by anyone.
But which platforms are currently selling the most popular NFT collectibles? Below we take a look at the five most popular NFT collection platforms by trading volume using data from the last 30 days of Cryptoslam.io.
5. Art Blocks: $ 8.3 million trading volume
Art Blocks is a platform that allows artists to publish their works as NFT on the Ethereum blockchain. Each generated artwork exists only once on the blockchain. The special thing about Art Blocks is that artists have the opportunity to constantly develop and change their works of art.
In addition, the Art Blocks platform offers artists an innovative system for interacting with fans. Because the different images are interactive, fans can evoke reactions to works of art, for example by sending money, thereby actively interacting with images 24/7.
It results in brand new sources of revenue for the entire art industry that have never existed before. According to Cryptoslam.io, Art Blocks had over $ 8.3 million in trading volume over the last 30 days.
4. Sorare: $ 13.5 million
Sorare is a digital marketplace for blockchain trading card trading. The platform is already a source of income for more than 100 football clubs, including FC Bayern Munich, Paris Saint-Germain, Bayer Leverkusen and Inter Milan.
The goal of the Sorare team is to bring football fans around the world even closer to their clubs and idols. It all runs on Ethereum blockchain. Very rare cards, such as Neymars, have been sold for over $ 26,000.
The teams and the individual playing cards are assessed on the basis of the players’ true performance on the football field and receive the corresponding points. As a result, players’ performance is also indirectly reflected in the value of the virtual trading cards.
In Germany, Sorare already has nearly 8,000 users and since the blockchain project was invented, cards worth a total of over $ 20 million have been traded.
We explained in more detail how the Sorare marketplace works in our test article.
3. Hashmasks: $ 21.8 million
Hashmasks is another NFT project and was launched on January 28, 2021. Hashmasks is a collection of currently 16,384 unique digital portraits created by over 70 global artists and available as NFT on the Ethereum blockchain.
At present, it is still unclear who exactly is behind the project. Nevertheless, Hashmask can rely on well-known supporters such as the Swiss company Suum Cuique Labs from Zug.
As the owner of a hash mask NFT, you have the opportunity to give the artwork a name using so-called NCT (Name Changing Token). In ten years, this feature will no longer be available, and the names of the portraits will then be immortalized on the Ethereum blockchain.
One of the hashtags NFT was sold in early February 2021 for Ethereum worth $ 650,000. In total, portraits worth a total of $ 39 million have already been traded on Hashmasks.
2. CryptoPunks: $ 90.5 million
CryptoPunks was founded by Larva Labs, an IT company that is extremely well known in the crypto field and has been involved in several projects.
CryptoPunks is based on Ethereum and is a total of 10,000 uniquely designed characters. However, some CryptoPunks are rarer than others and therefore more expensive. For example, Alien CryptoPunks includes only nine avatars. Users can trade their objects with other users, whereby each transaction is registered on the ETH blockchain, and the owner is therefore clearly identifiable.
According to the Crypto Punk website, over 4,000 CryptoPunks have already been traded in the last year. In addition, CryptoPunks are the most popular NFT collectibles on the entire Ethereum blockchain. Since they were invented, CryptoPunks has been traded for over $ 100 million. One of the most expensive sold for the equivalent of 850,000 US dollars.
1. NBA Top Shot: $ 275.3 million
In July 2019, Top Shot was launched as a joint venture between the NBA, NBA Players’ Union and Dapper Labs. The beta release went live in October 2020. Sounds familiar to Dapper Labs? The Canadian blockchain company is also behind the success of CryptoKitties and is the issuer of the FLOW token.
The NBA Top Shot uses the Flow Blockchain and is an officially licensed product from the NBA (National Basketball Association). On the NBA Top Shot platform, users can purchase a snapshot of an NBA game as an NFT.
These so-called “Moments” are captured forever as a digital collector’s item and mapped as non-fungible tokens via flow blockchain. In this way, the owner is guaranteed authenticity and ownership of the collector’s object.
The “moments” are sold in packages. These range from $ 9.22 to $ 230 depending on what is in the package. Later, in the secondary market, the contents of the packages reach six-digit prices. In addition, the NBA Top Shot is the largest NFT platform in the world to date, and at the moment, the demand for “NBA Moments” is so great that the company can no longer withstand the exponentially increasing demand. It happened repeatedly that the release of new “Moments” was delayed due to server overload.
Sorare: collect digital football cards on blockchain
Collect limited edition digital football cards, manage your team and earn top prizes.