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  • Digital Art
  • Gaming NFTs (Play to Earn)
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  1. Basics

Types of NFTs

PreviousWhat are NFTs?NextDeFi: Understanding Lending Protocols

Last updated 3 years ago

Digital Art

Owning art isn’t a foreign concept. NFTs have empowered artists from all over the world with an internet connection to have the ability to monetize their craft. NFTs allow the artists to access a global supply of customers as well as art investors. NFTs can be listed on a number of permissionless online marketplaces such as , , , , and .

A few notable NFT sales in recent history by an artist Beeple - , , and . All of these examples showcase the power ERC721 tokens have in establishing cryptographic proof of unique digital property combined with global distribution and accessibility.

Gaming NFTs (Play to Earn)

In game NFTs have given rise to a concept coined β€œPlay-to-earn,” although it has been around for over a decade in the gaming world. As of recent, companies such as have built in-game economies where players earn rewards in the form of tokens in exchange for game play. Given the openness and crossplatform capabilities of NFTs, in-game assets are no longer constricted to one game. They can live and breathe in an outside economy and provide value to the owner of the asset.

Collectibles (e.g PFP - Profile Picture)

This type of NFT is probably the most well known. Popularized by avatars and . The PFP NFTs represent an allegiance to a community, a group of like minded invidviduals working towards a unified mission.

Real-World Assets (e.g Real Estate)

NFTs increasingly are representing real-world assets such as real estate. The tokenization of income producing assets allow for a more efficient distribution. People on the internet can gather via a DAO and collectively deploy capital at scale and own real-world assets. The real-world assets are not limited to real-estate, they can include sports teams, businesses, foundations, and etc.

Music

As with art, NFTs have given music artist a new model of ownership and distribution. Once again tapping into the fervor of community ownership and empowerment. An artist can invigorate a community of fans and allow them to listen, own, and distribute the content they love.

βœ…
Rarible
SuperRare
OpenSea
Nifty Gateway
Foundation
Ocean Front ($6m)
Crossroad ($6.6m)
Everydays: the First 5000 Days ($69.3m)
Axie Infiinity
CryptoPunk
Bored Ape Yacht Club (BAYC)