Non-fungible tokens (NFTs) have seen an immense surge in interest and trading volume over the past few months. Various celebrities have begun promoting different new NFT products, and recently, an artist is even selling their latest album constructed of 10 NFTs. In addition to celebrity collectibles and album downloads, NFTs can come in many different shapes and forms. Consequently, as a natural technological progression, a growing number of NFT marketplaces are emerging as a space to buy, trade, and sell the different types of unique digital assets available. This is why we've compiled this ultimate 2021 guide to NFT marketplaces!
Axie Infinity is a “Pokémon-inspired” digital universe and blockchain gaming platform for creating digital environments and raising pets known as “Axies”. Skilled gamers can earn Axie Infinity Shards (AXS) by contributing to the platform and participating in battles and tournaments with their pets. Axie Infinity allows users to trade NFTs and exchange in-game items, with more than 25,000 ETH traded within the Axie Infinity Marketplace. Also, Axie Infinity is ranked as the #1 Ethereum game with over 19,000 monthly active users, and more than 6,400 ETH generated in revenue! Furthermore, Axie Infinity, along with the Axie Infinity token (AXS) allows players to monetize digital property ownership and brings a great deal of utility to the platform.
There appears to be an ever-increasing amount of information to learn about the various blockchain ecosystems. One of the terms that has recently seen an upswing in interest surrounding NFTs. NFTs (Non-Fungible Tokens) are becoming more established as the crypto sector heats up in what many hope will constitute a 2020 - 2021 bull run. So, what are NFTs?
Gaming could be one of the biggest industries cryptocurrencies and blockchain technology looks to disrupt. The blockchain gaming industry has been quietly simmering for the past couple of years, following a huge influx of users that congested the Ethereum network in 2017. However, with recent developments, projects, and partnerships, blockchain in gaming is beginning to show signs of making a comeback, appealing to a bigger audience than ever before.
If you are an avid follower of the crypto and altcoin market, odds are you have heard of Rarible. Rarible brands itself as the world’s first “community-owned NFT marketplace”. Furthermore, Rarible leverages its RARI token - which, similarly, is the world’s first governance token in the NFT field - to power this community-run platform model. In giving users a token with governance powers, Rarible is borrowing a page from the DeFi playbook. Now it remains to be seen whether this strategy will work in the NFT space as well.
Blockchain is arguably starting to make it into the mainstream. The banking sector has embraced blockchain technology with open arms, and the logistics sector and even the administrative industry are beginning to follow suit. As such, people are now looking elsewhere for the next big thing. Some of the most interesting up and coming industries for blockchain use cases are the music and art sectors.
With some of the Yield Farming profits dropping and the most intense DeFi hysteria waning, another digital asset has been gaining traction that may be able to kickstart the blockchain space: namely, non-fungible tokens (NFTs). Non-fungible tokens could be the future of music and art, gaming, and even real estate. But, since the terms “fungible” and “non-fungible” can be somewhat confusing, let’s dig into what it all means.
Non-fungible tokens (NFTs) are famously gaining popularity in the gaming and collectible space, and is one of the latest booming areas of the crypto industry. However, the use cases for NFTs stretch far beyond gaming and collectibles. In fact, developers are creating entire virtual worlds using NFTs, and we are still very much in the early stages of adoption. Moreover, NFTs can be used in a wide variety of sectors, from the art industry to within music, fashion, and much more.